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Fannie: We Cut Off Bank of America - 02/29/12 11:34 AM
Fannie Mae, in a new SEC filing, says that in late January it cut off Bank of America from selling most types of loans to the GSE because of "delays" by the lender in making good on outstanding buyback requests. -- National Mortgage News … (0 comments)
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Warren Buffett: Good Time to Buy a Home [watch from 05:10 to 06:40] - 02/27/12 10:18 AM
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Embracing Short Sales - 02/24/12 03:03 PM
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BofA Squeezes Mortgage Pipeline to Fannie - 02/24/12 09:26 AM
Bank of America Corp., the second- biggest U.S. lender by assets, is stopping the sale of new home loans to government-owned Fannie Mae as a dispute over who should bear the costs for defective mortgages escalates. The bank is cutting off Fannie Mae from loans starting this month, except for modifications and some refinancings, because of the U.S.-controlled company’s stance on repurchases, Bank of America said yesterday in a filing. The firms are in talks to end the disagreement, the bank said. Chief Executive Officer Brian T. Moynihan is seeking to limit additional costs from faulty loans after the 2008 takeover … (0 comments)
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Existing-Home Sales Were Up from December to January - 02/24/12 09:14 AM
The National Association of REALTORS® said total existing-home sales, including single-family homes, townhomes, condominiums and co-ops, were up 4.3 percent from December to January, to a seasonally adjusted annual rate of 4.57 million. … (0 comments)
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Home prices at lowest point in more than 10 years - 02/22/12 12:34 PM
The National Association of Realtors reported that the median home price in January was at its lowest price reading since November 2001, before the run-up in home prices that became known as the housing bubble. … (1 comments)
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Coldwell Banker Real Estate Survey Reveals Sellers More Willing to Price Competitively in 2012 - 02/21/12 02:35 PM
PARSIPPANY, NJ, Feb 21, 2012 -- A recent survey over 600 Coldwell Banker Real Estate professionals in the United States revealed home buyers and sellers are adjusting expectations and "getting real" about real estate in 2012. More than half (51 percent) reported that sellers are more willing to price their homes more competitively than this time last year, and 45 percent said sellers are more willing to change the appearance of their homes to entice buyers than they were one year ago. Of those Coldwell Banker professionals surveyed: -- 94 percent say their sellers are getting rid of clutter and making … (0 comments)
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It's Official: G-Fee Hike Left out of New Payroll Tax Extension - 02/17/12 11:17 AM
The House and Senate on Friday passed a $150 billion bill that extends a payroll tax reduction and unemployment benefits for 10 months without increasing guarantee fees on Fannie Mae and Freddie Mac loans. In the search for ways to pay for the extension, a hike in g-fees was contemplated but then ultimately rejected. In December, Congress passed a two-month extension bill that was funded through a 10 basis point hike in guarantee fees. That increase is permanent and remains, much to the chagrin of the mortgage industry. For 10 years, Fannie and Freddie are required to charge this extra 10 … (1 comments)
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Upcoming Single Family Premium Changes for FHA Loans - 02/15/12 12:24 PM
FHA held a briefing this morning on the President’s 2013 budget. On this call, they reiterated the upcoming single family premium changes for FHA loans which is outlined in the chart below. The upfront premium of 100 bps has not changed. The mortgagee letter is expected March 1, 2012, with an effective date of April 1, 2012. Importantly, these changes are only the first of additional changes expec...ted to be announced within the next few weeks. Although they could not elaborate, the industry should expect additional changes to the premium structure, likely a small increase to the UFMIP. Finally, we expect … (0 comments)
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Thomas Crate, CA DOC, NMLS #332624
Lake Arrowhead,
CA
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Mountain West Financial
Address: 27236 Hwy. 189, Blue Jay, CA, 92317
Office Phone: (909) 336-7892
Cell Phone: (909) 744-0455
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