california hard money: fannie mae to bring up the conforming limit ??? - 02/18/08 12:54 PM
Now what? Frankly, analysts feel that enactment is possible by mid-February but looks more likely by early March. No large investors will make any policy changes or announcements until the issues are less confusing, or even voted into law. Apparently, the bill would temporarily increase the limit on mortgages Fannie Mae and Freddie Mac may securitize from $417k to up to $730k. In addition, the bill would increase the limit on loans the Federal Housing Administration (FHA) may insure from $362k to $625k. This should help to reduce spreads in the jumbo mortgage market! One estimate mentioned that as many as … (0 comments)

california hard money: want to buy foreclosure properties, here are some websites - 09/02/07 08:50 AM
Psssst... wanna buy a foreclosed property? After a default and after the house does not sell at the Trustee Sale,
the bank/lender owns it. As most know, this is called "REO", for Real Estate Owned. Currently mortgage
companies continue selling their REO's through real estate agents, who list them on the MLS. You would probably
need to make an offer through an agent, but here are some sites which list the properties: (Wells Fargo) (Freddie Mac) (Fannie Mae)

california hard money: junk mortgage bond - 09/02/07 08:38 AM
But possibly the bigger news is that S&P said that it would change its methodology for ratings hundreds of
billions of dollars in residential mortgage-backed securities, and review its ratings on hundreds of billions of
dollars in the more complex collateralized debt obligations based on those subprime loans. It is expected that a
lot of debt will be downgraded to junk status and may have to be sold at fire-sale prices. Therefore many
pension and hedge funds that once thrived on the high returns they could get from investing in subprime junk
are expected to lose a lot of money. The … (0 comments)

california hard money: another guideline change: sub prime meltdown - 08/18/07 07:08 PM
Bear Stearns changed their product offerings on Friday. They suspended "No Ratio", NIVA, and "No Doc", all second home and investment loans, and their "No MI" programs.
Citi (at the risk of possibly repeating myself) is discontinuing the following programs: for Prime Lending, NIVA & NINA for Non-Agency Alt A, "Home on Time" (I guess they're going to be late...), and CRA Stated Income. Under the Expanded Lending (Non-Prime), they've discontinued Expanded Lending First Lien Stated Income Documentation Process and Expanded Lending Second Lien Programs.
Countrywide made several guideline changes, effective today. For their HELOC's they reduced the CLTV's and loan amounts, and … (0 comments)

california hard money: california foreclosure - 08/04/07 09:26 PM
According to RealtyTrac, more than a quarter of the top 500 leading foreclosure zip codes are in California. Among them, seven East Bay zip codes are represented. Antioch led the region with two zip codes for a total of 837 foreclosures during the three months that ended June 15. The other zip codes are located in Oakland (94603 and 94605 with 412 total foreclosures), San Pablo (94806 with 260), Richmond (94804 with 223), and Oakley (94561 with 200). Sacramento had the overall highest number of foreclosures in California, with twelve zip codes accounting for 3,726 foreclosures.
On the flip side, according to … (0 comments)

california hard money: lender's getting restrictive - 08/04/07 09:13 PM
We all know that lenders are becoming more restrictive when issuing residential loans due to declining home prices and rising delinquencies. How much? The Federal Reserve's most recent Survey of Senior Loan Officers indicates that roughly 16% of respondents tightened credit standards in 2007-Q1, equal to the tightening that took place during the housing market downturn in the early 1990's. The least restrictive period was (surprise!) 2004 through 2006. … (1 comments)


raman kandola

San Jose, CA

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Address: 2166 the alameda, san jose, ca, 95126

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