Fannie Mae
Loan Application Alert : Conforming, Interest Only Mortgages Guidelines Change Next Week
June 16, 2010 by admin · Leave a Comment
If you plan to finance your Shipshewana home with a conforming interest only mortgage, get your loan application submitted no later than this Friday, June 18.
Starting next week, Fannie Mae is clamping down on the popular loan product.
An “interest only” mortgage is exactly what its name implies — a mortgage for which the monthly payments [...]
Fannie Mae’s Loan Quality Initiative : Repulling Your Credit Just Before Closing
June 8, 2010 by admin · Leave a Comment
A new loan quality initiative from Fannie Mae is making it harder for Shipshewana home buyers and refinancing homeowners everywhere to close on a mortgage.
Beginning June 1, 2010, with all new applications, Fannie Mae wants lenders to verify that borrowers have not taken on new debt during the underwriting phase of the mortgage.
If new debts [...]
Fannie Mae’s Loan Quality Initiative : Repulling Your Credit Just Before Closing
June 8, 2010 by admin · Leave a Comment
A new loan quality initiative from Fannie Mae is making it harder for Elkhart home buyers and refinancing homeowners everywhere to close on a mortgage.
Beginning June 1, 2010, with all new applications, Fannie Mae wants lenders to verify that borrowers have not taken on new debt during the underwriting phase of the mortgage.
If new debts [...]
1 In 8 Banks Tightened Prime Mortgage Standards Last Quarter
May 6, 2010 by admin · Leave a Comment
The Federal Reserve says that financial markets “remain supportive of economic growth“. Residential mortgage guidelines, however, continue to tighten.
If you’ve applied for a home loan recently, you probably felt it; extra scrutiny on income, assets and credit scores, among other things. The hard proof of the changes, however, can be found in the Federal Reserve’s [...]
