Tag Archive for: fannie and freddie

Condos: Balcony Issues; FHA Spot Approvals; Owner Occ Ratios; One Owner Has > 10% Of Units

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I met a wealthy developer who bought an entire 600-unit condo project after the 2008 meltdown for about $21 million ($35,000 per unit).Read More

New VantageScore 4.0 Credit Report Uses Rent & Utility Payments; Woohoo Or Uh Oh?

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The Federal Housing Finance Agency (the agency that regulates Fannie and Freddie) Director, Bill Pulte, posted this on X yesterday: “My ORDER today … will allow for Americans to use their RENT [and utility payments] to qualify for a mortgage. Credit history will no longer just include credit cards and loans. This is HUGE.”Read More

Moody’s Downgrades U.S. Debt; Rates Scream Higher! Uh oh…

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In 2020, Fannie and Freddie executives suddenly remembered that their firms were effectively government-sanctioned monopolies, allowing them to charge whatever they wanted.Read More

Loan Buybacks Are Surging and DANGEROUS!

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Russian Mobster Sending Me Lots of Business Around 2004, an agent referred a Russian gentleman to me for a purchase. He was very wealthy, very well-dressed, very polished, very serious […]Read More

Manufactured Homes – Guidelines, Confusion, Appraisals, Rates

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Per our mortgage bank: “any dwelling unit built on a permanent chassis and attached to a permanent foundation system is a manufactured home. The manufactured home and the land on which it is situated must be titled as real property. Other factory-built housing (not built on a permanent chassis) - such as modular, prefabricated, panelized, or sectional housing is not considered manufactured housing.”Read More

Fannie/Freddie Yank Their 1/2 Point Refi Fee

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On Saturday night my wife Heejin and I had a wonderful date at an outdoor Italian restaurant. The food and weather were perfect, and the ambiance was even better with […]Read More

Fannie Mae’s New 50 Basis Point Fee Slams Refinance Borrowers

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As I mentioned yesterday, Fannie Mae and Freddie Mac imposed a new fee of 1/2 point, or 50 basis points, on all refinance loans – catching the entire mortgage world […]Read More

Fannie & Freddie Breaking Off From Government Control?

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INTEREST RATES COULD SHOOT UP AT ANYTIME We often remind both borrowers and agents that interest rates are generally expected to remain low for some time, but that does not […]Read More

Jumbo Rates Are LOWER Than Our Conforming; Jumbo vs. Conforming

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Our Jumbo rates are as much as 1/2 percent lower than our Conforming (Fannie and Freddie) rates. Our low Jumbo rates are also available for qualified borrowers down to the […]Read More

2019 Conforming Loan Limit Increases – Good and Bad

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PEOPLE WALKED AWAY FROM MORTGAGE OBLIGATIONS B/C THEY WERE UPSIDE DOWN In 2006, a relative of mine asked me to help her qualify for a condo purchase. Wanting to help, […]Read More

“Jumbo” Rates Now Lower Than Conforming (Fannie and Freddie) Rates

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Fannie Mae and Freddie Mac now have serious competition for “high balance” loan amounts above $453,100. For years, few Jumbo lenders could match Fannie’s and Freddie’s “conforming” loan rates. (As […]Read More

If You Owe Income Taxes, Can You Get a Mortgage? Yes!

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Income Taxes Owed Income tax liabilities are a frequent issue during tax season, and worthy of addressing again. Borrowers can get mortgage financing if they owe income taxes, in most […]Read More

Conforming Loan Limits Way Up For 2018; What It Means

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Fannie and Freddie’s 2018 conforming loan limit increases open the door for more buyers to access lower rates and easier guidelines—though the benefits come at a cost to all taxpayers, even those in areas with low home prices.Read More

Condos – Three Numbers To Know

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When buying a condo, financing often depends on three numbers: HOA delinquency rates, concentration of ownership, and occupancy ratios. Understanding these ensures smoother approval and fewer surprises.Read More