ltv: Freddie Mac Reduces Maximum Loan to Value - 03/05/11 02:36 PM
On March 1, 2011, Freddie Mac announced that it will be lowering its maximum loan to value.  The reduction will be effective with all Freddie Mac conventional mortgages with a settlement date on or after June 1, 2011. 
Maximum financing requirement lowered to 95% LTV/TLTV/HTLTV Only exception will be Relief Refinance Mortgages Home Possible Mortgages will also be reduced to 95% The change will not be overly impactful as mortgage insurance over 95% LTV is still difficult to obtain for conventional mortgages. 
 
 
 
 
(4 comments)

ltv: New Rules for a Prior Preforeclosure Sale or Deed-in-Lieu of Foreclosure - 04/15/10 01:41 AM
On April 14, 2010, Fannie Mae announced that a new waiting period will be established for anyone with a short sale or pre-foreclosure sale.   The waiting period will vary depending on the loan to value of the transaction and whether extenuating circumstances contributed to the borrower's financial hardship.  Loss of employment, illness, death of a wage earner, etc are common examples under which an exception might be granted.  
Both terms of"short sale" and "pre-foreclosure sale" are interchangeable in this announcement.  Fannie has clarified that each have the same meaning of "the sale of a property in lieu of a foreclosure, resulting in a … (3 comments)

 
Rodney Mason, VP of Mortgage Lending - AL, FL, GA, SC, & TN (Guaranteed Rate NMLS# 2611) Rainmaker large

Rodney Mason

VP of Mortgage Lending - AL, FL, GA, SC, & TN

Atlanta, GA

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