Great Op/Ed article in the Wall Street Journal today…
Fannie Mae and Freddie Mac were allowed to ‘leverage up’ their portfolio from 30-1 to 33-1 (for every $1 in freed up capital they can spend $33 instead of $30) ‘creating’ an additional $200B(illion) worth of liquidity they may now use to buy more mortgage backed securities.
The [...]
Fannie Mae, Freddie Mac agree to new appraisal standards
From the Baltimore Business Journal…
Under the new code, mortgage brokers will be prohibited from selecting appraisers, and lenders will be prohibited from using in-house staff to conduct initial appraisals, among other things.
Lenders will also be prohibited from using appraisal management companies that they own or control.
Too early [...]
On your mark, get set…Close!
Conforming and FHA loan limits are set to rise substantially, at least for a little while. ‘The economy sucks’, thus interest rates and their underlying indices shall remain low. Fertile grounds for a mini boom of refinancings and purchases are being tilled.
This time around borrowers and mortgage professionals can expect logical [...]