TheFederalDepositInsuranceCorp.isencouragingits
loss-sharingpartnerstotemporarilyreducemortgagepayments
foratleastsixmonthswhenborrowerslosetheirjobs.
WithmoreAmericanssufferingthroughunemploymentorcuts
inthepaychecks,webelieveitiscrucialtoofferahelping
handtoavoidunnecessaryandcostlyforeclosures,FDIC
chairmanSheilaBairsaid.
NowFDICwantshomeownerswholosetheirjobtogetimm...[阅读全文]
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(2009-09-11 18:50:47)
(2009-07-23 12:24:58)
Inamovetopreventyieldspreadpremiumabusesbyloan
officersandbrokerstheFederalReservehasissuedaproposed
rulethatwouldonlyallowmortgageoriginationcompaniesto
compensateLOsandthird-partyprofessionalsbasedontheprincipal
amountoftheloan.
Thisproposalrequirestheloanoriginatortoreceivethesame
compensationfromaparticularcreditorregardlessoftheloan\'s
rateorterm,saidFederalReserve...[阅读全文]
officersandbrokerstheFederalReservehasissuedaproposed
rulethatwouldonlyallowmortgageoriginationcompaniesto
compensateLOsandthird-partyprofessionalsbasedontheprincipal
amountoftheloan.
Thisproposalrequirestheloanoriginatortoreceivethesame
compensationfromaparticularcreditorregardlessoftheloan\'s
rateorterm,saidFederalReserve...[阅读全文]
(2009-07-01 13:15:08)
WASHINGTON,DC--FannieMae(FNM/NYSE)announcedtodaythatthecompanyisprovidinginformationtoservicersregardingchangestotheHomeAffordableRefinanceProgram(HARP)thatpermitsrefinancingofexistingFannieMaeloanswithloan-to-value(LTV)ratiosupto125percent.TheloanswillbeeligiblefordeliveryonorafterSeptember1,2009.
Thisstepaimstoreachevenmoreborrowerswhowouldbenefitfromalowerpayment,saidMichaelJ.Williams,Presi...[阅读全文]
Thisstepaimstoreachevenmoreborrowerswhowouldbenefitfromalowerpayment,saidMichaelJ.Williams,Presi...[阅读全文]
(2009-06-22 16:34:46)
The105%loan-to-valueratiolimitonFannieMaeandFreddieMac\'s
programtorefinanceunderwaterborrowerscouldberaisedto
increaseparticipation,accordingtotheGSEs\'regulator.
TheFederalHousingFinanceAgencyislookingatgoing
significantlyhigherthan105%,FHFAdirectorJamesLockhart
said.The105%ceilinghaskepttoomanyborrowersonthe
sidelines,hetoldaNationalAssociationofRealEstateEditorsconferen...[阅读全文]
programtorefinanceunderwaterborrowerscouldberaisedto
increaseparticipation,accordingtotheGSEs\'regulator.
TheFederalHousingFinanceAgencyislookingatgoing
significantlyhigherthan105%,FHFAdirectorJamesLockhart
said.The105%ceilinghaskepttoomanyborrowersonthe
sidelines,hetoldaNationalAssociationofRealEstateEditorsconferen...[阅读全文]
(2009-06-16 21:03:22)
Qualified,first-timehomebuyersusingaFederalHousing
Administration(FHA)-insuredmortgagenowcanapplythe
$8,000federaltaxcredittowardtheirdownpayments,the
U.S.Dept.ofHousingandUrbanDevelopment(HUD)recentlyannounced.
Currently,borrowersapplyingforanFHA-insuredmortgage
arerequiredtoissueminimumdownpaymentsof3.5percent.
Buyersstillmustissuethemandatory3.5percentdownpayment,
bu...[阅读全文]
Administration(FHA)-insuredmortgagenowcanapplythe
$8,000federaltaxcredittowardtheirdownpayments,the
U.S.Dept.ofHousingandUrbanDevelopment(HUD)recentlyannounced.
Currently,borrowersapplyingforanFHA-insuredmortgage
arerequiredtoissueminimumdownpaymentsof3.5percent.
Buyersstillmustissuethemandatory3.5percentdownpayment,
bu...[阅读全文]
(2009-06-11 12:04:04)
10yrBondsfailedtobreakthrough4.0%yesterdayaftertheauction.
Sowedon\'tfeelthattherategomuchhigherfromhere.Ifthetrend
confirmedtomorrow,therateshouldheadlower.For30yrfixed,thefirst
levelshouldbearound5.5%(nocost).
It\'sjustmypersonalopinion.Useyourownjudgementtoseewhether
youneedtolockyourrate.[阅读全文]
Sowedon\'tfeelthattherategomuchhigherfromhere.Ifthetrend
confirmedtomorrow,therateshouldheadlower.For30yrfixed,thefirst
levelshouldbearound5.5%(nocost).
It\'sjustmypersonalopinion.Useyourownjudgementtoseewhether
youneedtolockyourrate.[阅读全文]
(2009-04-07 09:06:42)
Thelender\'sguidelinecameouttodayfortheRefinanceofUnderWaterproperties.Herearetheguidelines:
1)IfyourloanownedbyFreddieMac,youhavetogetthemrefnancedwiththeoriginallender(orwehavetosubmittothesamelenderforyou).
2)IfyourloanownedbyFannieMae,youcanrefiwithanylenders.
3)Theloanamounthastobelowerthan417k(atthismoment,willbeexpandedto625kor729klateron).
4)Theloantovaluecanbe80%to105%.阅读全文]
1)IfyourloanownedbyFreddieMac,youhavetogetthemrefnancedwiththeoriginallender(orwehavetosubmittothesamelenderforyou).
2)IfyourloanownedbyFannieMae,youcanrefiwithanylenders.
3)Theloanamounthastobelowerthan417k(atthismoment,willbeexpandedto625kor729klateron).
4)Theloantovaluecanbe80%to105%.
(2009-04-03 13:48:01)
Alotoflendersnowoffertheoptiontoallowfloatingdownthemortgagerateoncebeforeyousignofftheloandocs.
Herearesomeofthebasicsaboutthefloatingdown:
1)Thelendersusuallyallowsfloatingdownaftertheloanapproved.
2)Somelenderswillrequesttheloantobeclosedwithinthe15daysaftertheratefloatingdown(orrenegotiation).
3)Theratefloatingdownisnot1-1floatingdown.Ifyoulockedtherateat5.25%,themarketratelowe...[阅读全文]
Herearesomeofthebasicsaboutthefloatingdown:
1)Thelendersusuallyallowsfloatingdownaftertheloanapproved.
2)Somelenderswillrequesttheloantobeclosedwithinthe15daysaftertheratefloatingdown(orrenegotiation).
3)Theratefloatingdownisnot1-1floatingdown.Ifyoulockedtherateat5.25%,themarketratelowe...[阅读全文]
(2009-02-19 09:19:43)
ThedetailwillbeoutMarch4fortheeligibility.Noteverypeoplewill
qualify(only4to5Millionasannounced),onlythosewhomaydelinquent
ontheirloansooncanqualify.
Thefollowingscenariosdonotqualify.
1)IfyourDebttoIncomeratiolessthan31%.
2)IfyourPropertyLoantoValueratiolessthan80%.
3)Ifyourloanamountover417k.
Eventhoughyoucanqualify,youcannotgetitfromrefinancefromabroker(wearenotparto...[阅读全文]
qualify(only4to5Millionasannounced),onlythosewhomaydelinquent
ontheirloansooncanqualify.
Thefollowingscenariosdonotqualify.
1)IfyourDebttoIncomeratiolessthan31%.
2)IfyourPropertyLoantoValueratiolessthan80%.
3)Ifyourloanamountover417k.
Eventhoughyoucanqualify,youcannotgetitfromrefinancefromabroker(wearenotparto...[阅读全文]
(2009-01-22 15:23:10)
Herearethefactorsforrefinance:
LTV85%:0.48%
LTV90%:0.72%
LTV95%:1.04%.
Forrefinance:theabovefactor-0.10%.
Forexample,ifyourloanamountis270k,yourvalueis300k.
SoLTVis90%.Yourmortgageinsuranceis:
270k*0.72%/12=$162permonth.
Isitexpensive?Yes,itis.
Iftheloanamountis:285k,value300k.
LTVwillbe95%.Yourmortgageinsuranceis:
285k*1.04/12=$247permonth.
Soifyour...[阅读全文]
LTV85%:0.48%
LTV90%:0.72%
LTV95%:1.04%.
Forrefinance:theabovefactor-0.10%.
Forexample,ifyourloanamountis270k,yourvalueis300k.
SoLTVis90%.Yourmortgageinsuranceis:
270k*0.72%/12=$162permonth.
Isitexpensive?Yes,itis.
Iftheloanamountis:285k,value300k.
LTVwillbe95%.Yourmortgageinsuranceis:
285k*1.04/12=$247permonth.
Soifyour...[阅读全文]
