october: VA Delays Implementation of VA Funding Fee From October 1, 2011 Until November 18, 2011
- 10/02/11 11:53 AM
VA has announced a delay in the reduction of its Funding Fee. Originally scheduled for October 1, 2011, the VA Funding Fee reduction now goes into effect on November 18, 2011. 10/1/2011Important Notice: LOANS CLOSED ON OR AFTER OCTOBER 1, 2011: Due to legislation affecting funding fees that has passed both houses of Congress and is awaiting the President's signature, lenders should not submit payments for loans closed on or after October 1, 2011, until further notice. This issue should be resolved within the next several days. If the President signs the legislation, it will in effect keep funding fees at … (1 comments)
october: USDA Announces Addition of Monthly MI Effective October 1, 2011
- 03/13/11 12:53 AM
Changes has just been announced to the USDA loan program. One change will be the implementation of an annual fee of 0.30 percent of the outstanding principal balance. This will take effect on October 1, 2011. At that time, the up-front guarantee fee for purchase transactions will decrease from 3.5% to 2% for all purchase loans transactions. For refinance transactions, the up-front guaranteed fee will remain at 1%.
VA has announced a delay in the reduction of its Funding Fee. Originally scheduled for October 1, 2011, the VA Funding Fee reduction now goes into effect on November 18, 2011.
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