November 13, 2008 Friends in Real Estate, 2009 Conforming Loan limits will remain at $417,000, the 4th consecutive year at this level. What is a Conforming loan? A loan that "conforms" to Fannie Mae or Freddie Mac guidelines. The stock market rally drew funds away from mortgage backed bonds an
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11/14/2008
After almost a year of declining home prices, incredible buyer incentives on home purchases, and for the most part, stable or falling mortgage interest rates, we still have large inventories, pent up buyer demand, and not appreciable movement in the market. Buyers are not taking advantage of a b
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11/12/2008
October 23, 2008 In the mortgage world a self employed borrower is one who receives income from a business they have 25% or more ownership interest. This can be the only source of income or a supplement to another job. The self employed borrower should expect a request for the most recent 2 yea
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10/24/2008
October 9, 2008 Friends in Real Estate, For the 2nd straight day both mortgage backed securities and stocks fell significantly. Usually they move in opposite directions, but due to margin calls and investor redemptions, many inv
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10/10/2008
We as a nation are close to making the wrong decisions at the ballott box next month due to lack of knowledge, understanding, and in many cases just ignoring historical facts. The recent collapse of the financial markets was not, in great part, of this administrations doing. President Bush is f
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10/06/2008
The government bailout of Fannie and Freddie had a great impact on Conforming Fixed rates today. Conforming Fixed Rates dropped by .25 to .5 depending on the loan size and type of loan quoted. Many experts are predicting they will continue to drop in the next few weeks. This is great news for
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09/11/2008
Had to get this in today. The National Association of Realtors has released some statistics regarding pending home sales for the month of June. Pending home sales are homes under contract that are on the way to closing. Predictions for June were to be a decline of 1.0% in June. As it turns ou
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08/08/2008
August 7, 2008 Friends, Expect higher conforming (<417K) loan rates in October 2008, no matter what happens to mortgage bonds. Fannie Mae revised its' pricing AGAIN and the change affects EVERYONE no matter what the borrower's credit score or loan to value is. Lower credit scores/higher LTVs wi
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08/08/2008
There are a lot of mixed feelings at present about the Feds decision to standbehind the two largest mortgage holders in the secondary market. Secondary market refers to the business entities which purchase mortgage paper from primary lenders, like your bank. Purchasing these mortgages, usually
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07/16/2008
This blog entry was originated by Lenn Harley of Rockville, Maryland, and she gave me permission to post it here today. I thought it a worthwhile read. I am following shortly with my own reflections and take on the backing that Freddie Mac and Fannie Mae have been assured by their sponsor, the
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07/16/2008
