fannie mae: Is FHA No Longer a Good Option? - 06/05/11 10:53 AM
For years, I have touted the benefits of FHA over conventional. Lower monthly mortgage insurance, lower down payments, pain free and often FREE streamline refinances when rates drop and generally lower interest rates than conventional as well a few other positives. Heck, it was almost impossible to find conventional financing with less than 10-20% down for quite some time making FHA the number one way to go even for those who weren't first timers.
As of late, The FHA seems to have pushed buyers from their clutches to other financing methods. In the last year, the FHA has raised their monthly mortgage insurance … (0 comments)

fannie mae: Higher Fees For Buyers - Excellent Credit Borrowers No Longer Immune! - 02/08/11 02:49 AM
It finally happened. It's no longer enough to have excellent credit! Fannie Mae and Freddie Mac - those who create the guidelines for conforming, Conventional Loans - are going to be imposing fees for almost ALL borrowers regardless of credit score and down payment.
The only few who will be spared will be those whose scores exceed 740 and whose down payment equals or betters 25%. Being less than 5% of all borrowers, that means nearly everyone looking to borrower money will see fees imposed on their transactions either in additional cost or by a higher rate.
The new fees, called LLPA's or … (2 comments)