A new -.50 basis point fee was announced this week affecting conventional refinances through Fannie Mae and Freddie Mac loans that close after Sept. 1. For a borrower refinancing a $300,000 loan to take advantage of record-low rates, the move will add $1,500 in new costs. The new fee was announced late Wednesday. Freddie Mac’s …
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Fannie to Loosen Mortgage Requirements Daily Real Estate News | Wednesday, June 07, 2017 Government-sponsored financing giant Fannie Mae will ease its requirements next month, raising its debt-to-income ceiling from 45 percent to 50 percent on July 29. The move could pave the way for a larger number of new buyers to qualify for a …
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Collateral Underwriter is an automated risk assessment software that reviews appraisal reports for FannieMae regulated mortgages. There has been much discussion that the program (already updated to another version since released at the beginning of the year) is essentially creating a ‘zestimate’ i.e. automatic valuation based on algorithms. Or it could just speed the process …
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It seems for the time being that the lending environment will stay status quo. Fed Statement Little Changed – From the FSB Mortgage News Source September 19, 2014 Investors were focused almost exclusively on the Fed meeting this week. Shifting expectations about future Fed policy guidance caused a good deal of volatility during the week. …
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PureWest Christie’s International Real Estate in Bozeman recently held a Mortgage Basics discussion, hosted by Mortgage Broker Sherrie Kitto of Rocky Mountain Bank. The class reviewed the basics of what programs available on the mortgage market. As interest rates increase, the variety of loan programs available to buyers becomes more attractive. Some offer very low …
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I had a client send me an email this week because they were certain that no loans were going to be originated during the Government Shutdown. It got me thinking that not too many folks know how this will affect their lending prospects, especially if this takes some time to sort out. I found this …
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