Kris Krajecki's (imcallingkris) Blog

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Mortgage and Lending - Kris Krajecki - FOX VALLEY MORTGAGE - Huntley, IL

ARCHIVED BLOG POSTS

2007 

Treasuries fell and bill yields rose as Federal Reserve Chairman Ben S. Bernanke indicated the central bank will do whatever it takes to keep the economy out of a recession. Yields on three-month bills increased the most in more than two weeks on reduced demand for the safety of short-term govern...
11/30/2007
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...
11/29/2007
Effective Immediately, Provident Funding has made the following changes to the Program Guidelines.All ProgramsNon-Arms Length Transactions - Updated the definition and clarified the program restrictions and documentation requirements (Conforming: Section 3.7, Non-Conforming: Section 3.6).Borrower...
11/29/2007
Getting stricter still!!!Not just on borrowers....but thier houses as well!:-)Dear Valued Business Partner:  In today's market environment, Countrywide, Americas Wholesale Lender remains committed to helping our broker Business Partners assist qualified borrowers in finding appropriate home finan...
11/29/2007
Treasuries fell as Abu Dhabi agreed to invest $7.5 billion in Citigroup Inc., boosting stocks and easing demand for the relative safety of government debt. Investors sold bonds as traders speculated that the cash infusion will help the biggest U.S. bank by assets replenish capital after writedown...
11/27/2007
Well, another lender tightens thier grip!Looks like FHA is going to HAVE to be the way to go for yout sub-575 FICO borrowers...:-)\Issued: November 26, 2007Effective:Effective with new loan applications taken on or after November 27, 2007SummaryMortgage Insurance (MI) is no longer available for l...
11/27/2007
It's STILL getting a bit tougher to get some of those loans done!Just announced this morning...Summary:Homecomings Financial announces changes to Stated Income documentation types and the Payment Option program. These changes will be effective on December 3, 2007.All Programs Stated Income and St...
11/27/2007
Well it looks like we lost another one! Normally this is old hat...but we haven't had a major player close it's doors in quite some time now. The other scary thing is that Webster was no sub-prime lender! They were A-paper with some great FNMA rates/products.Here is the e-mail taht I recived...Yo...
11/21/2007
I recieved this e-mail this morning and thought that I would share...:-)Dear Valued Business Partner: As you may be aware, federal regulatory agencies have issued joint guidance which impacts the qualifying methodology for non-traditional mortgage products. This guidance was designed to better ad...
11/21/2007
Well we should all be in the 5's NOW!!Treasuries surged, sending 10-year note yields below 4 percent for the first time in more than two years!!Bonds rose as U.S. stocks fell and oil rose to within 71 cents of $100 a barrel. The spread, or difference in yield, between two- and 10-year notes widen...
11/21/2007
Rainer
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Kris Krajecki

Mortgage Broker Huntley, IL
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