RECENT BLOG POSTS
Rural Development is funding again! I am so excited!!!!! Rural Developments interim systems enhancements will be complete on September 8, 2010. at which time the agency will begin obligating section 502 Single Family Housing Guaranteed Loans. The systems enhancement's will: * Phaseout the old 2...
Fannie Mae Bans Appraisal Cutting Picture this: You've signed a contract to sell your house. Your buyers say they've nailed down the right mortgage. All is well. But then the appraisal comes in low - $25,000 to $50,000 under what was agreed in the contract. The lender insists on cutting the mortg...
Fannie Mae just announced another change in qualification guidelines. This change includes qualification for 5-Yr. ARMs at the note rate plus 2.0% or fully indexed rate, whichever is higher. Plus, starting June 1, lenders will have to run a second credit report right before closing. Add to othe...