Conforming loan limits will remain the same according to recent guidance issued by the Federal Housing Finance Agency (FHFA). The agency announced that the 2014 maximum loan limit for mortgages acquired by Fannie Mae and Freddie Mac will remain at $417,000 for one-unit properties in most areas of the country. The Housing and Economic […]
Tag: mortgage
Is Tighter Credit for the Better?
DSNews, BY: KRISTA FRANKS BROCK It’s no secret underwriting standards have tightened in recent years, and while many decry the heightened standards for making homeownership less accessible to some Americans, CoreLogic economist Sam Khater pointed out in a report released Wednesday that heightened standards are undoubtedly impacting delinquency rates for the better. “While there has been much […]
FHA to Take First Ever Bailout from DSNews, By: Tori Barringer
The Federal Housing Administration (FHA) will be accepting a bailout of more than $1 billion to make up for losses sustained from the agency’s legacy books and its reverse mortgage program. Following reports last week that FHA’s financial situation would require a Treasury draw in the neighborhood of the Obama administration’s $943 million forecast, Commissioner Carol Galante revealed in […]
What Does the Government Shutdown Mean for the Housing Market?
As the federal government ground to a halt Tuesday, the question of how the shutdown will affect the housing market remains at the front of everyone’s mind. How will the market react? The answer: it depends. Read more here . . . http://tinyurl.com/krzo43o
News From the FAMP Government Affairs Committee
News from Kimber White, Chair and Legislative Liaison October 1…Government Shutdown in Effect…Now What? Federal agencies are preparing for a shutdown of large portions of the government that would become effective beginning October 1, 2013. The information outlined below addresses the impact on the mortgage industry: HUD / FHA: The FHA should not be […]
Florida helps write down mortgages for underwater homeowners
New from the FAMP Government Affairs Committee By Kimberly Miller – Palm Beach Post Staff Write Florida’s key foreclosure prevention program has turned its sights on seriously underwater homeowners, offering up to $50,000 to pay down mortgage debt and help regain equity in the state’s still mending real estate market. Announced Friday, the new plan differs […]
Trulia: Owning Remains Significantly Cheaper than Renting
DSNews.com BY: KRISTA FRANKS BROCK, 9/19/2013 Despite rising interest rates, owning a home is still significantly cheaper than renting at a national level and in most large metropolitan areas, according to Trulia’s Summer 2013 Rent vs. Buy Report. While rising interest rates are closing the gap between renting and owning, owning is still 35 percent […]
Unemployment, Mortgages and Hope
Friday, September 2, 2011 By Paul Muolo I’m not one to spout out Pollyanna hope to readers when there is none. Friday’s job figures from Uncle Sam was a blow to the gut, the only good news being that it could’ve been worse. Here’s one ray of hope: the mortgage brokerage segment added jobs […]
