Mortgage Matters

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Mortgage and Lending - Mason-McDuffie Mortgage Corp.
RECENT BLOG POSTS
By unanimous consent the Senate last night approved HR 5981, the bill that permits HUD to increase the annual FHA premium to a maximum of 1.55% for loans with the minimum down payment of 3.5%. HUD had previously indicated that when they received authority to increase the annual premium that they ...
08/05/2010
The Senate has approved a measure extending the closing deadline from June 30 to the end of September for home buyers trying to tap a federal tax credit. The National Association of Realtors estimates that 180,000 buyers who had a contract in place by April 30 still would be unable to close on th...
06/17/2010
Well, since the real estate bubble burst in 2008, financing to acquire a property that had been owned by the seller for less than a year pretty much dried up.  Both Fannie Mae and Freddie Mac tightened up on the title (or ownership) seasoning requirements by requiring that a property being flippe...
06/17/2010
Many changes coming down the road to restrict how loan officers and mortgage brokers are compensated in the future.... a MUST READ! Last night, as you probably know, the Senate approved the Restoring American Financial Stability Act of 2010, S. 3172.  This  sweeping legislation overhauls the fina...
05/21/2010
Fannie Mae just released another round of lending guideline changes that affect all lenders in the U.S. who underwrite loans to agency guidelines.  The most significant change is that lenders will be required to provide a 2nd credit report pulled on the actual closing day - prior to the loan fund...
05/19/2010
Has the government done enough? There have been a number of changes in laws and regulations related to the home mortgage industry.  These have been intended to provide the consumer with more clear and concise information about the real cost of obtaining a mortgage, make the process of comparison...
05/16/2010
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Perry Minor

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