From the category archives:

Mortgage News

New Good Faith Estimate Misses the Mark

February 3, 2010

At the beginning of 2010 new lending guidelines went into effect regarding how loan originators handle the loan process and how closing costs must be disclosed to the buyer.  One of the new rules included a nationwide standard Good Faith Estimate (GFE).  The purpose of the new Good Faith Estimate is to hold lenders to [...]

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FHA Announces Increased Upfront Mortgage Insurance for April 2010

January 25, 2010

The Mortgage Industry is an Ever Changing Industry
As I always preach, the mortgage industry is a constantly evolving industry. It seems like every day we get new regulations, new disclosure requirements and new guidelines. The newest batch comes from The Department of Housing (HUD) in the form of changes to FHA financing.
New FHA [...]

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Mortgage Interest Rates Predicted to Rise in 2010

December 29, 2009

2009 Saw Historic Mortgage Interest Rate Lows
2009 was a historic year for low San Mateo mortgage interest rates. We had 3 periods throughout the year where rates dipped into the 4% range: January, March/April and November/December. With the 2010 right around the corner, new opportunities and increasing mortgage interest rates are ahead.
Why Were [...]

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Temporary Changes to Financing a Condo with an FHA Loan

December 15, 2009

As the ever changing lending world keeps turning and churning out new changes and regulations, we’ve got the latest updates on FHA financing for San Mateo condos. The Dept. of Housing (HUD) has announced a temporary change to their FHA condo financing policy that took effect December 7,2009 and will expire December 31,2010.
The Biggest [...]

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Debt Ratio Guideline Changes and How it Affects Borrowers

December 9, 2009

Big Lending News that Could Affect Many San Mateo Home Buyers
Yesterday, the lending world got some big news that could affect many San Mateo home buyer’s mortgage loans. Fannie Mae and Freddie Mac, the quasi government institutions that buy mortgage loans on the secondary market, announced they would only allow up to 45% debt [...]

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