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rate: FHA loan limit is going to be raised to 417k... - 10/09/08 10:14 AM
10/02/2008 - "This morning, FHA Commissioner Brian Montgomery announced that the new HECM nationwide loan limit (maximum claim amount) will be $417,000. The target effective date is November 1"This is a target date right now, not a set deadline. We still expect FHA to increase the "floor" on the origination fee from $2,000 to $2,500. A mortgagee letter will be published shortly that provides additional details.There was some debate within HUD to consider area limits at 115% of area median home value, with a floor of $417,000 and a cap of $625,500. Ultimately, the interpretation was determined that the new legislation … (1 comments)
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rate: Hope for Home Owners...New way to bail out poeple who should not be bailed out! - 09/30/08 03:36 PM
HOPE FOR HOMEOWNERS1) Purpose- The purpose of the HOPE for Homeowners Program is--a) to create an FHA program, participation in which is voluntary on the part of homeowners and existing loan holders to insure refinanced loans for distressed borrowers to support long-term, sustainable homeownership;b) to allow homeowners to avoid foreclosure by reducing the principle balance outstanding, and interest rate charged, on their mortgages;c) to help stabilize and provide confidence in mortgage markets by bringing transparency to the value of assets based on mortgage assets;d) to target mortgage assistance under this section to homeowners for their principalresidence;` 2) Requirements of Insured Mortgages- … (4 comments)
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rate: Covered Bond market continuation... - 07/31/08 03:28 PM
Well if you haven't already noticed Sec. Paulson has been all over touting his covered bond program, too bad he ripped it off from our over seas friends, not to worry no of us pay much attention to anyone else globally anyways...lol. His program is being back (no surprise) by the four biggest financial companies in AAmerica...They all are about to unveil plans to follow the European suit and begin to sell covered bonds that are tied to mortgage related securities... The new system would offer control over the underwriting process and would standardize the mortgage industry. The bonds would be … (1 comments)
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rate: Why rates are more than likely going to rise in the coming months and why the current trend will continue for at least 5 years... - 07/23/08 10:14 AM
The reason I am posting this article is because it gives good insight into why rates are going to go higher and what really effect an interest rate. Pay close attention to how the baks set there rate and what it is based off of.(i.e. 10 yr bond sales) I know there is not one indicator for rates but there will be a trend and the 10 yr makes up a big part of the interest rate trend...
Mortgage Rates Near a Year High
By RUTH SIMON and JAMES R. HAGERTYJuly 23, 2008; Page C14
Home-mortgage rates are nearing their highest levels … (4 comments)
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Nathan Goodman
Bozeman,
MT
More about me…
Guild Mortgage Company
Address: 1925 N. 22nd Ave. Ste. 103, Bozeman, MT, 59715
Office Phone: (406) 522-8800
Cell Phone: (406) 580-0149
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