Currently viewing the tag: "fannie mae"

Fannie Mae Tightens Guidelines On ARMs And Interest Only Products

On May 4, 2010 By

For the first time this year, Fannie Mae announced significant updates to its mortgage underwriting guidelines. The changes include newer, harsher ARM qualification standards, the elimination of a once-popular loan product, and tighter rules for interest only mortgages.

Continue Reading →

FHA Interest Rate Predictions: Week of April 19, 2010

On April 19, 2010 By

The FHA loan rate approached its best levels since March on last week’s rally.

That marks two weeks in a row with considerable improvement and two weeks in a row where rates dropped due to “safe haven” buying.

Continue Reading →

Real Estate Definitions : Short Sale

On February 2, 2010 By

A “Short Sale” is when a home seller sells his home for a lesser amount than what is owed on his mortgage, and the mortgage lender agrees to accept the lesser amount in lieu of a full payoff.

Continue Reading →