conforming: Diane Luongo Gazich Talks About New FHA & Conforming Loan Limits - 07/21/08 05:59 PM
This was filmed on April 4, 2008 after the new FHA loan limits were presented.
… (4 comments)
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conforming: Information You Can Trust! - Great News for Jumbo and Conforming Loan Seekers - 05/27/08 12:47 PM
Rates remain affordable!
Interest rates for mortgages continue to remain very attractive for conforming loans. For those borrowers with both great credit and the ability to document income and assets, interest rates for a 30 Year Fixed Rate still remain at 6.00% or below.
For homebuyers or homeowners that know the … (0 comments)
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conforming: We have hit bottom and we are clawing our way back up! - 04/12/08 01:00 PM
Values are down. Interest rates are down. The first statement is tough when trying to sell and great if you want to buy. The second statement is great for everyone! Well, almost everyone. OK, that's it, that's my article, have a nice day!
Values are basically down in Sonoma County except for … (3 comments)
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conforming: My Top 10 Things that Have NOT Changed in the World of Mortgages - 04/02/08 03:34 PM
Well. let's see...
...I'm still thinking, ok?! ...
Give me a minute!....
... OK here we go.
My Top 10 9 Things that Have NOT Changed in the World of Mortgages
10. Borrowers with a Middle Credit Score OVER 680 can obtain a 97% Loan Compared to the Sales Price (LTV) on a Fannie or Freddie (Bankable Conforming) … (22 comments)
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conforming: Waiting to be stimulated by higher loan limits! - 04/01/08 11:53 PM
OK, I have been waiting to be stimulated by the new conforming loan limits and it just isn't happening!
It was signed into law in Mid February and we waited to see when HUD would come out with the new median home values. That happens in Mid March and we get excited for … (3 comments)
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conforming: Trouble Finding Your Clients Financing for Rural or Mobile Homes? - 04/01/08 09:45 AM
We do both very well in NC, SC, TN, GA. We also have some of the most aggressive FHA and Conforming underwriters in the country. You can call me or email me with any scenario. I look forward to working very hard for you guys. … (0 comments)
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conforming: When a conforming loan is non-conforming... - 03/30/08 12:35 AM
Is a buyer who is borrowing $450K to purchase a house going to get into a jumbo loan at jumbo rates, or a conforming loan at conforming rates?? The answer will surprise you.
On March 6th, Fannie Mae, Freddie Mac and the FHA (unfortunatley, VA loans were mistakenly left out) all announced … (1 comments)
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conforming: Unprecedented Volatility Continues in Mortgage Rates - 03/26/08 01:00 PM
It used to be, back in the "good 'ol days", we saw intra-day rate changes maybe once every couple of weeks. For the past several weeks now, market volatility has been so prevalent, we are seeing intra-day rate changes daily - often two or even three in a day.
As a lending … (0 comments)
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conforming: NEW Conventional Conforming Plus Product - 03/18/08 12:47 PM
NEW Conventional Conforming Plus Product
FYI Number: 08-0078
Issue Date: 03/17/08
Applicable to Tiers: 1, 2, 4
Providing Financing for the American Dream.
Introducing a New 30-Year Fixed Conforming Plus Product
Effective Wednesday, March 19, 2008, PHH will be releasing a new conventional jumbo-conforming product that will be available for new … (0 comments)
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conforming: Temporary Conforming Loan Limits Released - 03/11/08 11:33 AM
The Office of Federal Housing Enterprise Oversight (OFHEO) today released the maximum conforming loan limits that will be in effect through year-end as a result of The Economic Stimulus Act of 2008. That legislation permits Fannie Mae and Freddie Mac to raise their conforming loan limits in certain high-cost areas. … (0 comments)
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conforming: We Left out the Veterans? - 03/08/08 08:50 AM
Yesterday I posted some information about the new conforming limits for FHA loans in certain, high-priced counties. Today in the Washington Post (March 8, 2008), it was revealed that the new limits do not extend to Veterans Administration loans. This was a surprise for many veterans, as well as many of us … (0 comments)
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conforming: New Cap for FHA Backed Loans - 03/07/08 12:51 PM
The Federal Government raised the ceiling amount on government insured loans in high-cost areas, effective March 6, 2008. This was wonderful news for the Washington Metropolitan Area and folks interested in buying, or selling, a home.
Since I am licensed in Virginia, and that is where the bulk of my clients live, … (0 comments)
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conforming: Lifts for all conforming loan limits!! - 03/07/08 12:11 PM
HOT OFF THE PRESS. It's official... FHA, Freddie Mac and Fannie Mae have all temporarily lifted their limits on conforming loans. The temporary limits are good for all loans originated through the end of 2008. The increased limits will vary by region and markets. check with your local mortgage professional for … (0 comments)
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conforming: High Cost Temporary Fannie Mae/Freddie Mac Loan Limits Are Established - 03/06/08 05:15 PM
The Office of Federal Enterprise Oversight has established the temporary lending limits for certain high cost areas. Follow this link to check what these maximum loan amounts will be for your area. We expect to receive notification from the banks and lending institutions that they are accepting loan applications reflecting these … (0 comments)
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conforming: This is a cool article: - 03/04/08 07:56 PM
Hi Everyone,
Ron Anderson check me out on CBS news, saving homes and changing lives...
http://www.cbs2.com/video/?id=60004@kcbs.dayport.com
Check this LA Times story out this ran as the cover story for Sunday's feb 17, 2008 RE section & prompted the above news feature...
http://www.latimes.com/classified/realestate/la-re-empty17feb17,0,7275945.story
… (2 comments)
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conforming: The Ubiquitous, Perpetual Mortgage Solution Circle Jerk - 02/27/08 06:50 PM
Project Lifeline, increasing Conforming and FHA loan limits, rate freezing...*Yack*
The parables are mounting up in the face of Congress' threat to move H.R. 3609, The Emergency Home Ownership and Mortgage Equity Protection Act of 2007, and Senate (S. 2136, The Helping Families Save Their Homes in Bankruptcy Act of 2007), … (0 comments)
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conforming: Rising FHA and Conforming Mortgage Loan Limits Are Not Easy to Interpret or Implement - 02/27/08 06:40 PM
There seems to be some varying opinion on how to interpret loan limit increases for Conforming and FHA type mortgages.
I've read articles here that suggest a $650k Conforming loan limit while FHA mortgages will set a new limit based on (max) 175% of the subject property's County Median Home Price, … (0 comments)
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conforming: Do you speak "Lender Lingo" - 02/22/08 09:14 AM
Years ago my niche market was first time buyers, Now, they have gotten married, have babies and many of them are my move up buyers. I still have a large base of first timers. I love them, they soak up all of the information I give to them. My buyers know … (1 comments)
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conforming: Stimulus Package : Ready or Not? - 02/14/08 12:22 PM
The two major questions on the new conforming loans rage on: when and how?
James Lockhart, OFHEO Director (the regulator for Fannie Mae and Freddie Mac) indicated that any increase in the GSE limits would require "new product approval process" to evaluate credit risk, concerns about geographic concentration in high risk markets … (0 comments)
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conforming: Conforming Loan Limits to Increase - Washington as High as $493,000 - 02/11/08 01:31 PM
Conforming Loan Limits To Increase
Since August 2007 non-conforming or jumbo loans have been priced significantly higher than they have been in the past due to "liquidity issues". The House and Senate voted to increase the conforming limit to 125% of the median home price in all market areas, and set a cap of $713,000.
We should see these changes implemented by March of this year. … (0 comments)
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conforming: Bernanke Cuts 1.25% in 8 days with more to come. Now what? - 02/06/08 08:17 AM
Hello to all my valued colleagues
So much has happened in the last two weeks and yet in some ways not much has changed. Late on Monday evening two weeks ago, I sent this note to 400 Real Estate agents in my area.
"It looks like the perfect storm! Dow futures are down … (1 comments)
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conforming: Where do we go from here? - 02/01/08 12:44 PM
Our clients continue to ask opinions on where the market and interest rates are headed. From my vantage point, we are looking at another cut in March of the rate at which the FED loans funds. This would bring the rate down to 2.5%. That is still not as low … (4 comments)
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conforming: Conforming Limits, FHA Limits, and the Sussex County take on the News - 01/29/08 01:39 PM
Let's look at the local take on current news about mortgage financing. . .
News from the Mortgage Bankers Association:
"The White House surprised many on Monday by suddenly withdrawing its support for the inclusion of FHA reforms in President Bush's proposed economic stimulus package. Bush had previously made several personal pleas to … (2 comments)
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conforming: Impact of today's announcment for conforming loan size - 01/25/08 02:47 PM
1/25/2008
For those of you that don't quite understand the impact of today's announcement please read on:
What does "Conforming" mean?
First of all, let me briefly explain what "conforming" means. "Conforming" is the term used to describe loans that meet all the Fannie Mae and Freddie Mac guidelines. One of the major guidelines … (2 comments)
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conforming: Finally - Jumbo Loans May Get Some Help... - 01/24/08 11:09 PM
If you are a homeowner trying to sell - and your property is over 500k in value - you were probably hurt by the fact that after the lending crisis started - rates for jumbo loans were jacked by 1-2 percent or more over existing conforming loans under 417k.That meant that … (1 comments)
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conforming: Conforming to What? - 01/24/08 04:49 PM
Our friends in Washington seem to think raising conforming loans to $625,000 and up is a way to handle the current "crisis". I am not convinced. The conforming amount for Martha's Vineyard will probably be $700,000. The fixed rate will end up below 6% maybe as low as 5.25% before all … (0 comments)
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conforming: Conforming Loan Limits To Temporarly go to $625,000? The Feds get Aggressive! - 01/24/08 09:57 AM
Hi, Real Estate Partners
Well...the name of the game is volatility! Very early Tuesday morning (well before the Wall Street bell), I told you that unless Ben Bernanke and the Federal Reserve would cut the discount and federal funds rates BEFORE the opening bell, there would be a flight to safety as … (5 comments)
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conforming: What about the slide? - 01/23/08 05:08 PM
Last Thursday Ben Bernanke announced his intention to recommend a further cut in the prime rate charged to banks. My market currently has 20% fewer listings this winter than last. Interest rates had been declining for a week prior to that announcement and have continued the slide possibly in anticipation of … (1 comments)
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conforming: The Rates they are a'falling - 01/23/08 04:44 PM
I just had a phone call from a mortgage broker. His rates have dropped tonight to 5.25 for conforming loans. Their re-fi's have spiked over 30%. This is activity and rates not seen since mid 2005. I expect another rate reduction at the scheduled FED meeting, possibly another 1/4 point. If … (6 comments)
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conforming: Conforming Mumbo Jumbo - 01/17/08 08:11 PM
Okay, this is my idea. It came to me the other night as I lie awake mentally tossing around all my deals and wondering how many of them might actually make it to the finish line (i.e. the Closing Table). Thinking as an Investor/Developer, I pondered this: Find a way to … (6 comments)
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conforming: FMNA Conforming loan limits Stay the Same - 11/29/07 10:41 AM
Washington, DC - Office of Federal Housing Enterprise Oversight (OFHEO) has announced that the conforming loan limits for mortgages purchased by Fannie Mae and Freddie Mac will remain the same for 2008. FNMA and FHLMC Loan Limits: Units Maximum Loan Amount 1 $ 417,000 2 $ 533,850 3 … (0 comments)
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conforming: 2008 FNMA Loan Limits will remain @ $417,000 - 10/16/07 02:42 PM
2008 FNMA Loan Limits will remain @ $417,000
The Office of Federal Housing Enterprise Oversight (OFHEO) announced today that there would be no increase in the 2008 Conforming Loan Limit. OFHEO is the regulatory agency overseeing Fannie Mae and Freddie Mac.
That means that the single family maximum loan amount for 2008 will remain … (4 comments)
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conforming: FHA credit policy changes...Remember when FHA was NOT credit driven?!?! - 09/26/07 09:53 AM
Important FHA Credit Policy Changes...Effective October 1, 2007 HUD/FHA establishes the minimum standards for insuring an eligible mortgage application. These standards are described in several handbooks published by HUD/FHA and are amended from time-to-time by Mortgagee Letters. The handbooks provide direction to lenders and lenders are expected to exercise both sound … (20 comments)
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conforming: August 22, 2007 - 09/11/07 01:08 PM
Mortgage Market Update: We thought we should touch bases with you to assure you that all is not doom and gloom in the mortgage business. The current turmoil in the mortgage markets is not as bad as portrayed in the press. Conforming rates are dropping and approaching 6%, jumbo rates have … (0 comments)
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conforming: The Finger Pointing Is Starting - 08/28/07 10:49 AM
A Loan Officer I know was recently contacted by an old client. This client had bought a home a couple of years ago. The client had a cushy job as a sales manager and made good money at the time of the purchase, but since he had just recently been promoted, … (3 comments)
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conforming: Home for sale in Sacramento - 08/26/07 06:34 PM
Offered at $275,000.
4 Bedroom . . . 2 Bathroom on large .24 acre lot
2425 TAB COURT SACRAMENTO, CA 95825
Great home for a large family . . . huge yard. Home located on a cul-de-sac near all downtown perks, public transit, high school and shopping. Great up and coming neighborhood, when you … (0 comments)
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conforming: Home for sale in Sacramento. - 08/26/07 04:12 PM
Ofrecido en $275.000.
Dormitorio 4. Cuarto de baño 2 en la porción grande de .24 acre.
2425 TAB COURT SACRAMENTO, CA 95825
Gran hogar para una familia grande. yarda enorme. Hogar situado en un callejón sin salida cerca de todos gratificaciones céntricas, tránsito público, High School secundaria y compras. La gran vecindad ascendente y … (0 comments)
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conforming: What Casa Blanca teaches about the lending fallout - 08/23/07 12:34 PM
Hearing all the Bankers, who brought us all these, if-you-can-fog-a-mirror-you-can-have-a-house loans, and the Fed, who actively encouraged the banks 'creativity' for years blowing off about all the fraudulant loans reminds me of a classic scene from CasaBlanca (my all time fave- it should be yours too!!). I was there and saw it with my … (2 comments)
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conforming: Two Words: Confor Ming - 08/22/07 06:12 PM
Hey There!
Until it all gets sorted out, I want you to keep one number in mind.
$417,000
Put it on your notepads, jot it on the back of your business card. Tattoo it on your forehead-- in reverse of course, so you see it in the mirror. Under that limit, … (4 comments)
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conforming: Mortgage rates: industry wide shake-up - 08/10/07 11:13 AM
Last Thursday the mortgage lending industry was hit with a shockingly abrupt rate increase due to a Wall Street “risk-adjustment.” This risk adjustment translated into across the board rate increases, particularly on non-conforming and non-A paper loans. What is this risk-adjustment and how does it affect mortgages at a consumer … (0 comments)
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conforming: SubPrime Ripple Effect; is your closing date safe? - 03/30/07 01:59 PM
The problems in SubPrime lending are starting to take a toll on the rest of the lending world. As fewer and fewer lenders exist to approve, underwrite, and fund loans the remaining SubPrime AND Conforming lenders have to pick up the slack. Well this sounds great for them... at least at … (2 comments)
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conforming: Sub-prime market is changing.....Get ready - 03/05/07 11:59 AM
All this week and last week I have been getting e-mails about our sub-prime investors changing their requirements. Have you? Most have changed their credit limits to 600-620. Whereas, it used to be 500 and up. I am also noticing many mortgage companies closing their doors because of all the changes. … (0 comments)
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conforming: 2007 Conforming Loan Limits-Important Update! - 11/28/06 10:30 AM
Hello Everyone,
I thought that Real Estate Agents,Lenders and consumers would like to know that the OFHEO (Office of Federal Housing Enterprise Oversight) had a News Release on November 28th 2006, which confirmed that the 2007 Conforming Loan Limit for one unit properties would remain at $417,000 for most of the United States. So, what does … (3 comments)
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