fannie mae: www.lasvegasmtg.com Report: The new standard for Mortgages QRM Part 2
- 04/17/11 07:45 AM
www.lasvegasmtg.com Report: The New Standard for Mortgages QRM Part 2 By John Le Francois Last week I wrote an article regarding the new proposal for QRM "The Qualified Residential Mortgage" proposal that is supposed to eliminate the risks of Toxic Mortgages held by banks by setting standards on what constitutes a risk free Mortgage. To read the previous article click here. Last week testimony at House Capital Markets Sub Committee that the proposed QRM guidelines are so restricitve that the unintentional result would be to put millions of qualified homeowners out of the housing markets and it would stall any hopes of stabilizing the housing recovery. Industry … (2 comments)
fannie mae: www.lasvegasmtg.com Report: The new standard for Mortgages QRM
- 04/10/11 07:49 AM
www.lasvegasmtg.com Report: The new standard for Mortgages QRM by John Le Francois www.lasvegasmtg.com Report: The new standard for Mortgages QRM. What does QRM stand for? It stands for Qualified Residential Mortgage, and it is the product of the banks, Housing and Urban Development, and Securities and Housing regulators release of recommended changes to reduce the risk of toxic loans. This panel was created by the legislation Financial Reform Act in 2010 by Congress to create low risk loans. The legislation gave broad powers to the group and only expressed concerns about negative amortization and balloon payments and were silent on the minimum down payment requirements. Why are … (0 comments)
fannie mae: www.lasvegasmtg.com Report: New Lender guidelines! Say it ain't so!
- 04/02/11 09:08 AM
www.lasvegasmtg.com Report: New Lender guidelines! Say it ain't so! by John Le Francois www.lasvegasmtg.com Report: New Lender guidelines! Say it ain't so! Recently I experienced a new rule that has slowed down the loan process for some very qualified buyers and is not even disclosed as a lender overlay. The delay is over any borrower that has a dispute on their credit report. A dispute with the borrower and the creditor no matter if the account is open or closed, balance or 0.00 balance, has to be removed before the lender will give the borrower approval for a home loan. The delay is caused by … (0 comments)
fannie mae: www.lasvegasmtg.com Report: Las Vegas Highrise Condo Financing now available
- 02/06/11 09:45 AM
www.lasvegasmtg.com Report: Las Vegas High-rise Condo Financing now available By John Le Francois www.lasvegasmtg.com Report: Las Vegas High-rise Condo Financing now available. Everyone that has been in Real Estate for any length of time knows that trying to get financing for a Condo in Las Vegas, NV. is next to impossible. Getting a High-Rise Condo would take an act of Congress and would be inclined to be a futile effort. At All Western Mortgage we now have several new programs that are available to clients to buy owner occupied and 2nd home Condos and High-Rise units. Fannie Mae owned Condo and High Rise Condo properties that are … (2 comments)
fannie mae: www.lasvegasmtg.com Report: December 2010 Single Family Residence sold in Las Vegas, NV.
- 01/31/11 11:58 AM
www.lasvegasmtg.com Report: December 2010 Single Family Residence sold in Las Vegas, NV. Here is a list of Single Family Residences that were sold in the month of December 2010 in Las Vegas, NV. The list is broken down by zip code, the lowest price, maximum price and the average price per Sq./FT and the number of homes closed. There are a number of zip code in Las Vegas, North Las Vegas, and Henderson areas that are far more active then other areas with investors and first time home buyers as well as move up buyers. With bargain basement prices and rates that are expecting to go up soon … (0 comments)
fannie mae: www.lasvegasmtg.com Report: Fannie Mae is taking the gloves off against Strategic Defaulters!
- 07/21/10 10:13 AM
www.lasvegasmtg.com Report: Fannie Mae is taking the gloves off against Strategic Defaulters! http://www.lasvegasmtg.com: Fannie Mae is taking the gloves off against Strategic Defaulters as they announced they are seeking to prevent any agency including FHA from financing a home loan for 7 years for any borrowers that were able to make the payments but decide not to. USA Today reported this new initiative yesterday from Fannie Mae and the company is seeking legislative approval to bar those that have been prove to have strategically defaulted from getting any home loan for seven years. Currently there is a bill in the House of Representatives … (3 comments)
www.lasvegasmtg.com Report: Fannie Mae wants Servicer to start Foreclosure on Reverse Mortgages that are in default of Taxes and Home Owners Insurance. What was once taboo to discuss that any Senior could lose their house with a Reverse Mortgage loan is now going to be more likely to occur. HUD has always had rules in place that Taxes and Home Owners Insurance is cause for Foreclosures, but little action by the Servicer of the Reverse Mortgage Loan to correct the deficiencies due to the fear of being "Tarred … (0 comments)
fannie mae: www.lasvegasmtg.com Report: Fannie Mae Relaxes rules on time of purchase after a Pre Foreclosure Sale
- 05/31/10 02:41 PM
www.lasvegasmtg.com Report: Fannie Mae Relaxes rules on time of purchase after a Pre-Foreclosure sale has been announced and will be effective after July 1, 2010. Guidelines for Underwriters to follow after a Pre-Foreclosure Sale Or a Deed in Lieu of Foreclosure have always been in place, but the waiting period has changed over the years. In 2006 the waiting period went from 3 years to 5 years before one would be able to purchase a home after a Pre-Foreclosure Sale or Deed In Lieu Foreclosure. Then in 2008 the guidelines were relaxed to 4 years to purchase a home. In April … (2 comments)
fannie mae: www.lasvegasmtg.com Report: Fannie Mae and Freddie Mac is a ticking time bomb!
- 01/17/10 03:55 AM
www.lasvegasmtg.com Report: Fannie Mae and Freddie Mac is a ticking time bomb according to an article By E. Thomas McClanahan, Kansas City Star Editorial Page columnist. Last week the Financial Crisis Inquiry Commission started its hearings to find out the root cause for the 2008 meltdown and near collapse of the financial markets. While the inquiry is focused on Wall Street for the meltdown as this was evident by the first testimony to the committee was from four top Executives from Wall Street who fell on their swords and accepted some responsibility for the crisis. Yes their is blame to be … (0 comments)
www.lasvegasmtg.com Report: The New Standard for Mortgages QRM Part 2
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