mortgage news: FHA Says Mortgage Down Payment Rule Could Tighten Credit - 04/15/11 11:17 AM
Here is an article that I found on and I think you will find it interesting. 
U.S. regulators "must be mindful of the trade-off" between borrower equity and access to credit as they consider new rules for mortgage risk-retention, Acting Federal Housing Administration Commissioner Bob Ryan said.
Higher down payments won't necessarily reduce default risk and could keep creditworthy consumers from buying homes, Ryan said at a House Financial Services subcommittee hearing on mortgage risk retention.
"This definition has the potential to create false- positive situations," Ryan told lawmakers.
The Financial Services capital markets panel is reviewing a proposal calling … (0 comments)

mortgage news: Fannie and Freddy to be replaced by 2018. What next? - 03/22/11 10:25 AM
Fannie and Freddy to be replaced by 2018. What next?
Hi all: I read that the Obama administration is proposing to replace Fannie Mae and Freddy Mac (the two largest mortgage guarantors) by 2018. Since a majority of loans are guaranteed by either Fannie or Freddy, it begs the question. What happens if this is implemented? I have included the press release here for further clarification.
Friday, the Obama administration presented a plan to wind down Fannie Mae and Freddie Mac by 2018, with Treasury Secretary Timothy Geithner citing "very broad consensus" that the government should play "a much … (1 comments)

mortgage news: A Simple Explanation Of The Federal Reserve Statement (March 15, 2011 Edition) - 03/22/11 10:23 AM

Today, for the second straight meeting, the Federal Open Market Committee voted unanimously to leave the Fed Funds Rate unchanged within its target range of 0.000-0.250 percent.
The vote was 10-0.
In its press release, the FOMC noted that since its January 2011 meeting, the economic recovery "is on firming footing", and that the labor markets are "improving gradually". In addition, household spending "continues to expand". Nonetheless, the Fed said, the economy remains constrained by rising commodity prices and the "depressed" housing sector.
The FOMC statement also re-affirms the group's plan to keep the Fed Funds Rate near zero … (0 comments)

mortgage news: Should Congress Extend the Conforming Mortgage Limit? - 03/16/11 09:23 AM
This is a great article to ponder written By Daniel Indiviglio with
On October 1, 2011, the mortgage markets in some parts of the U.S. may suddenly slow. At that time, the conforming loan limits -- the highest balance permitted on a mortgage backed by the U.S. government -- will be cut for "high cost areas." So if you want to buy a home in a place like Los Angeles, Manhattan, or D.C., where real estate is relatively expensive, it may be more difficult to get a cheap mortgage stamped with a federal guarantee. Will this change debilitate the housing … (1 comments)

mortgage news: Major changes ahead for mortgage system as U.S. seeks to scale back role in housing - 03/14/11 07:57 AM
Hello there, there are definitely major changes coming in the US mortgage system...this article shares some insights and is very good to at least know what is coming soon...The article was written by:
By Dina ElBoghdadyWashington Post Staff WriterFriday, March 11, 2011; 12:13 PM
Fundamental changes are probably ahead for the American mortgage system as the federal government pushes to unwind its unprecedented involvement in the housing market.
These changes could significantly raise the down payments demanded by lenders, curtail the availability of long-term mortgages with fixed interest rates, and increase the cost of borrowing in general.
The government's effort … (0 comments)

mortgage news: Regulators Close to New 'Safe' Mortgage Standard - 03/02/11 01:24 PM
Here is a story I read on written by Peter Barnes 3/1/11...
How do you think it will all pan out?
"Financial regulators are closing in on a new rules for mortgages that would toughen standards for some homebuyers but still allow others to purchase a property with a low down payment with government support, officials said Tuesday.
The compromise plan, first reported by American Banker, is designed to avoid inflicting any serious damage to the fragile housing market while at the same time limiting the type of non-traditional "subprime" mortgages that helped create the housing bubble and … (1 comments)

mortgage news: Consistency in Real Estate is Key to Success! - 01/18/11 03:59 PM
I am sitting in my kitchen at approx. 10 pm after a late dinner and a long day at the office.  I signed in to Active Rain because I wanted to post a blog all day but hadn't gotten to it until now.  I started thinking about the fact that it is late and I could always write a post tomorrow instead...the thoughts that go through our minds all the time on our way to procrastination...then I said this is an easy article to write!  If I did not do the post today, I might put if off another day, and then another … (2 comments)