It’s just February but the mortgage industry has witnessed major developments under the current administration. Whether it’d be the reversal of the FHA mortgage insurance cut, the plan to overhaul a financial reform act, or the current trend of mortgage rates.These three have been major enough to warrant news coverage and merit consideration from homebuyers and refinancers … [Read more...] about A Recap of 3 Major Developments in the Mortgage Industry
On an announcement released December 12, Fannie Mae revealed its implementation of technology updates that give lenders “freedom from representations and warranties on property value” for many loans as part of its groundbreaking Day 1 Certainty initiative announced last October. The HighlightsAppraised value can now be accepted up front with: a) a qualifying risk score … [Read more...] about What is Fannie Mae’s Day 1 Certainty?
In the traditional mortgage process, the market value of a home is determined by a thorough, manual evaluation process called an appraisal. The appraiser assesses the home’s price based on its condition and the existing market factors. But what Freddie Mac plans in a novel move, could mean saying goodbye to appraisals forever. A Bold Change Certainly, the mortgage giant is … [Read more...] about Freddie Mac Plans to Get Rid of Appraisals
I love Paul Kedrosky's daily reading list. So we're going to try to do that occasionally over here. I go through so much news that obviously I can't share an opinion on, but it may be something that you would like to read as well.So thanks Paul and here we go!Hale "Bonddad" Stewart: The Great Depression, Pt. II (HuffPo) Video-o-rama: Ring out the old, ring in the new (The … [Read more...] about What We’re Reading 1/2/09
Are you checking out Blown Mortgage News? I'm at the Blog World and New Media Expo this weekend, but I'm still posting links I like to the Blown Mortgage News section.Here's some of the latest:Privatizing Profits and Socializing Losses: How the Rich are Staying Rich Money-Market Funds Get $50 Billion Backstop From U.S. Bailout rage: "Socialism in America ... … [Read more...] about Blown Mortgage News – What are you missing?