Fannie Mae announced changes to its Selling Guide as part of its Loan Quality Initiative earlier this year. This update requires lenders to determine that all the homebuyer’s debts are disclosed on the final loan application.
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Fannie Mae announced changes to its Selling Guide as part of its Loan Quality Initiative earlier this year. This update requires lenders to determine that all the homebuyer’s debts are disclosed on the final loan application.
Read more »
National and local commentators seem to be filled with welcome optimism regarding the recovery of the economy and its impact on housing markets.
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It seems appropriate in these harsh and uncertain economic times to observe Congressional hearings on the business practices of what were once widely admired executives of American business. When things don’t work out well in their industries, CEOs can expect to be summoned to Capitol Hill to appear at hearings, often for many hours.
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HAFA is a government-sponsored initiative overseen by the U.S. Treasury Department and administered by Fannie Mae. It assists all Home Affordable Modification Program (HAMP)-eligible homeowners in avoiding foreclosure, specifically through short sales or deeds-in-lieu of foreclosure.
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HAFA’s intent is to assist borrowers who cannot stay in their homes, to help them avoid the foreclosure and to provide an easier transition, according to Danielle Kutch, policy analyst with the U.S. Department of Treasury.
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Commercial property values and rental prices are expected to continue to drop in 2010, according to a recent online survey of executives conducted by global consulting and accounting firm Deloitte.
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One of the most sacred cows in the U.S. real estate market is the mortgage interest deduction available to taxpayers who itemize deductions on their federal income tax returns. This tax provision is traditionally viewed as one of the key elements favoring housing as an investment in the virtually impenetrable U.S. tax code.
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An extra $35 million for mortgages is available through the US Department of Agriculture (USDA), thanks to the federal stimulus package. The problem is many consumers are unaware of the USDA Rural Development’s Direct Homeownership Loan Program.
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Recently, FICO revealed how various activities will likely affect borrower’s scores; this information was traditionally kept hidden away as part of the statistical mystique of the mortgage finance system.
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Thursday, May. 17, 2012
