ARCHIVED BLOG POSTS
2010
Since late 2007, the mortgage industry has experienced an extreme tightening of underwriting guidelines across the board. One area in particular is giving some borrowers a fit......tax returns. As part of the quality control process, most all mortgage lenders are now, prior to closing, verifyin...
05/08/2010
The Home Affordable Foreclosure Alternatives Program In its attempt to reduce the rising number of foreclosures in the U.S., the Treasury Department introduced a new federal program. The program is intended to make it easier to process a short sale for people unable to keep their homes. Home Aff...
05/06/2010
Fannie Mae has updated it's policy for the minimum amount of time that a borrower must be employed when qualifying for a conventional mortgage. A minimum of one pay stub will be required for all approvals. When one paystub is used to document income, the paystub should reflect at least 30 days ...
05/02/2010
Fannie Mae has clarified it's policy relating to multiple mortgages for the same borrower. In the Fannie Mae Selling Guide announcement states that the following guidelines must be followed: The financed property limit applies to any combination of ownership in one- to four-unit properties and i...
05/02/2010
The comming weeks will give a glimpse of the true impact of the tax credit. Was the Home Buyer Tax Credit Really a Help or Just Hype? Now that the drop dead date of April 30 has come and gone we can look at the government's home buyer tax credit through a different set of eyes. I don't know how...
05/01/2010
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Rodney Mason, VP of Mtg Lending
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