MN Mortgage Matters

The End of Fannie Mae and Freddie Mac? It's been announced that the Obama administration plans to shrink Fannie Mae and Freddie Mac gradually and reduce the government's role in the mortgage market, which has expanded dramatically since the financial crisis. Fannie and Freddie almost single-hande...

New Pilot Announced by FHFA for REO Property Sales in Hardest-Hit Areas The first pilot under Real Estate-Owned (REO) Initiative was announced Monday by the Federal Housing Finance Agency (FHFA) that will allow more REO properties to be sold in the hardest-hit areas in the United States. These ar...

Mortgage Market Update for Feb 27th Good day for stocks and bonds, with mortgages dragging behind. Right now the Dow is trading a hair over 13,000 and cash 10yr notes are up 15+/32nds. Mortgages are putting in a less impressive session with Fannie 3.5s up just 5+ on the day. 10yr yields are at 1....

New Mortgage Form Helps Homeowners Avoid Fees The Consumer Financial Protection Bureau has proposed a new outline for your monthly mortgage statements. With the hopes that it will help homeowners keep track of their payments, the proposed form will show borrowers where their monthly payment will ...

How To Take Advantage Of The Foreclosure Settlement Starting March 1st the $25 billion Robo-Signing (or Foreclosure) settlement will begin to go into effect. The settlement, put together between the US government and five major banks (Ally Financial Inc/GMAC Mortgage, Bank of America, Citigroup, ...

3 Ways To Decide If You Should Buy A Home (That Don't Involve Money) While money can decide what you can afford when it comes to owning a home, there are many other motivators and drivers of a real estate decision. Here are the top 3. 1. FamilyWhen considering if you should buy a new home, family...

Greece and Foreclosure Agreements Announced There were many deals being agreed upon this morning. Over in Greece, it has been reported that they have finally agreed on a debt swap deal, including new austerity measures, and avoiding a near-term, very disorderly market event. The European market s...

20 Documents You Need for a Smooth Home Purchase Buying a home involves a variety of parts; many people, documents and tasks are needed in order to make your purchase go smoothly. It's better to get organized as soon as possible, but what exactly do you need? To start, you should get all the pape...

More Borrowers Look to Shorten Their Loan Terms Last Quarter According to Freddie Mac Quarterly Product Transition Report, released yesterday, more than 95% of refinance loans were fixed-rate mortgages. It is clear that refinancing borrowers are clearly taking advantage of the record low interest...

Are You Missing the Best Time to Buy a Home? For the sixth month in a row, homebuilder confidence rose, climbing four points in February and reaching the highest mark the index has seen since May 2007! And it's no wonder: with low rates, low down payment options and a recovering economy, there ha...