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freddie mac: Mortgage Rate Update
- 11/30/09 05:40 AM
© Copyright 2009. All About News, Inc.
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freddie mac: Credit Scores: When Good is not Good Enough
- 07/29/09 02:52 AM
© Copyright 2009. All About News, Inc.
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freddie mac: Fannie Mae and Freddie Mac Change the Appraisal Process
- 01/07/09 07:41 AM
Freddie Mac and Fannie Mae will implement a revised Home Valuation Code of Conduct beginning May 1, 2009. In an attempt to increase the reliability of appraisals, the revised code builds on existing seller-servicer guidelines and will apply to lenders that sell single-family mortgage loans to Fannie Mae and Freddie Mac.
One major difference in the code is that lenders will be required to order appraisals from one central clearing house, which will in turn select an appraiser. The down side of such a process is that lenders will have little to no communication with the appraiser, which means … (6 comments)
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freddie mac: What an Obama Administration Means to Your Mortgage
- 11/24/08 02:06 AM
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freddie mac: Credit Scores: When Good is not Good Enough
- 10/16/08 03:52 AM
In the past, a consumer with a FICO score of 620 was considered to be a low-risk borrower by Fannie Mae and Freddie Mac. Not anymore. After suffering major losses in the mortgage market last year, the nation's two largest mortgage finance lenders have redefined risk, announcing new Loan-Level Price Adjustments (LLPAs) for borrowers with FICO scores below 720.LLPAs are automatic, cumulative fees based on credit scores and the loan-to-value, and they can significantly increase the cost of credit. These fees have nothing to do with your mortgage company or its various products and cannot be negotiated away.Let's take a look … (2 comments)
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freddie mac: Wild Markets, The Fed, and Opportunities
- 09/17/08 10:48 AM
Uncertainty in Financial Markets Could Cause Dramatic Rise in Existing ARMs at Next Adjustment If you or anyone you know has an Adjustable Rate Mortgage, this is an important point to consider. Many ARM loans are tied to the London Interbank Offered Rate (LIBOR). In fact, there are six million loans in the United States that use LIBOR to determine the interest rate and as the name suggests, many banks use this rate to lend money to each other.
But, today, banks lack confidence that the money they lend will be paid back. In light of what has happened with … (0 comments)
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freddie mac: Many will profit from Fannie Freddie failure - Will you?
- 09/09/08 05:15 AM
Mortgages are in the news again today...but this time, the news is good! Especially for people looking to buy or refinance a home, as interest rates have dropped to the lowest levels seen since April.
You've probably heard that Fannie Mae and Freddie Mac were taken over or "bailed out" by the Federal Government over the weekend. The announcement came as the government felt that both of these institutions were potentially unable to meet their obligations. These agencies must pay off maturing Bonds every month, and they do so by selling new Bonds. But during the last twelve months, investor appetite … (0 comments)
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freddie mac: Is this Fannie Mae or Freddie Mac?
- 08/20/08 01:57 AM
I spent Monday evening at the apartment of a First Time Home Buyer going through her initial RESPA disclosures. My client is young and nervous. She read the paperwork more thoroughly than I have ever seen in my 5 years of originating mortgages. She obviously understands the magnitude of the transaction. As she carefully read each page that she was about to sign, she asked many of the same questions I have heard time and time again.
Quite a bit of my business involves working with First Time Home Buyers. They are typically not the largest deals, and usually involve more … (0 comments)
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