(Originally published July 4, 2010.) This past week, Fannie Mae announced policy changes designed to penalize borrowers who don’t work with their servicers and pursue alternatives to foreclosure. …
Market Volatility Causing Mortgage Rates to Rise, Then Fall, Then Rise…
(Originally published June 19, 2010.) Obtaining a mortgage rate can be like a visit to the amusement park. Sometimes we ride the calm and boring choo-choo-train. Everything is stable and predictable. …
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Don’t Buy That New Furniture Yet! FNMA Requiring SECOND Credit Check Before Closing.
(Originally published June 6, 2010.) As of June 1st, mortgage giant Fannie Mae is requiring lenders to pull an updated credit report on all borrowers, just prior to closing, in order to confirm …
Be Weary of Continuing Reform. Government “Cures” Often Do More Harm Than Good.
(Originally published May 1, 2010.) Whenever the Government promises to “fix” a problem, it’s usually cause for concern. Recent changes to the real estate industry have all been implemented with …
Mortgage Rates Are On The Rise
(Originally published April 17, 2010.) For the past year, unique and extreme economic conditions helped maintain mortgage rates at historically low levels. But it seems the party’s now over. In …
New Federal Regs + Incompetent Loan Officers = Canceled Closings. Don’t Let This Happen To You!
(Originally published March 21, 2010.) Everything seems to be going smoothly. The purchase contracts were signed. The mortgage was approved. The closing is scheduled. Then you get the call that the …
