2 Blue Chip Mortgage Blog

There are not too many encouraging words in the media yet on home values increasing going into the 2nd quarter. As it stands home values are still on a decline for the past five months even in major metropolitan statistical areas (MSAs) across the nation. Some MSAs are reporting declines over 10%...

If you have not been following the mortgage finance industry; FannieMae has now entered into an agreement with the OFHEO (the office of Federal Housing Enterprise Oversight) and New York Attorney General's office to adopt a Home Valuation Protection Code. Basically the code will be for single fam...

The new RESPA rule was released by the U.S. Department of Housing & Urban Development today. The official RESPA rule was published in the Federal Register so there is a 60 day comment period in effect right now and ends May 13, 2008. The new 4-page GFE is designed to more closely mirror the HUD-1...

Some lenders are are removing their FNMA 100 programs also due to changes by the MI companiesthe FNMA Flex 97, FHLMC 97 and Community program guidelines are will have a reduction in maximum CLTV as well as an increased minimum credit score of 680 on loans with LTVs greater than 80.00%. What's next?

To help lenders serve more borrowers in many high-cost areas, Fannie Mae is introducing Jumbo-Conforming Mortgages. They will accept whole loan and MBS deliveries:starting April 1, 2008 for 15- and 30-year fixed-rate mortgages starting May 1, 2008 for eligible 5/1 adjustable-rate mortgages For de...