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Blog entries tagged with "nonconforming":
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Countrywide is reeling from an attack by the two headed monster, declining mortgage fundings due in part to stricter standards, and increasing foreclosures. According to an article today from Reuters, Countrywide has eliminated 4,935 jobs in September and plans to eliminate up to another 12,000 jobs by December.Countrywide challenges stem from … (4 comments)
As I sit and look at the jumbo rates right now. It doesn't look to good for the high end market. The recent credit crunch has forced lender to raise rates on anything they can't sell off to Fannie mae or freddie mac. We need the conforming loan limit increased as … (6 comments)
Anyone who has been watching the media withing this last week saw some big changes in the mortgage industry, including the all of a large national mortgage lender - but then again, we all like placing our loans twice, don't we? If we are lucky, we won't have to do it … (1 comments)
Last week we saw American Home Mortgage go out of business. I saw major lenders like Wells Fargo, National City, Greenpoint and others cancel half their product line. Jumbo rates went from 6.75% to 8% in a two day period when the bond market actually improved!! That is a phenomenon that … (4 comments)
One of the easiest ways to find properties that are not at their Highest and Best Use is to do an MLS search. Most Multiple Listing Services will allow a "key word" search. What you are looking for are non-conforming properties.Some of the obvious possibilities are:1 bedroom2 lotsmultiple APNs (Assessors Parcel … (4 comments)