Tag Archive for: fannie mae

Missed Rent Payments Are OK – Or Are They?

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WOULD YOU DO THIS LOAN? It was sometime in 2006 when a rep I knew well from the now defunct Washington Mutual (WaMu) called me to ask if I personally […]Read More

Rent Payments & Rental Income To Qualify

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Here is some important info about using rental payment history and rental income to qualify. GREAT NEWS: “DU” USES RENT PAYMENTS NOW On the good news front, Fannie Mae announced […]Read More

2022 Conforming Loan Limits Increase

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U.S. median home prices continue to increase – so it is no surprise that the Federal Housing Financing Agency (FHFA) has increased the Conforming Loan Limits significantly. Conforming loan limits […]Read More

Fannie Mae Re-Slams Mortgage Industry With 1/2 Point Refi Fee

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In August, I blogged about Fannie Mae Slamming Refi Borrowers With A New 1/2 Point Fee. And then later in August, I blogged about Fannie Mae Yanking Its 1/2 Point […]Read More

When 1.99% Is A Bad Deal; Why Rates May Not Fall Further

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1.99% – YAY!!!! OR NOT…. (LOOK AT THE FEES) Several lenders were touting their 1.99% interest rates recently, and we were getting emails from agents and borrowers alike asking about […]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

I Caught My Dog Issuing Pre-Approvals (True Story)

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I made the horrible mistake of teaching my dog Kevin how to run Fannie Mae’s automated loan approval software, known as Desktop Underwriter or “DU.” It was easy to teach […]Read More

Higher Rates Won’t Hurt Housing Prices Per Fannie Mae Economist

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Several Realtors have asked us recently about the effect of higher rates on housing prices. This is b/c their own clients are concerned about buying now and risking a decline […]Read More

Appraisal Issues and Fannie Mae’s Collateral Underwriter; The Dreaded CU Score

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High “CU Scores” are causing appraisal issues more than ever, and creating a lot of confusion. But what is this Collateral Underwriter? This Collateral Underwriter is a property appraisal review tool that was created by Fannie Mae to provide an automated collateral risk assessment to mortgage lenders as a part of their underwriting process.Read More

5% Down Conventional Condo Purchase up to $625,500; Owner Occ. Ratio; Lender Credit for Closing Costs

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This is another reminder that Fannie Mae now offers 95% Loan-Value-Financing for High Balance loans up to $625,500 (we alluded to this yesterday too). This is especially important for the […]Read More

Fannie, Freddie, Agencies, GSE’s; What Are They? Differences?

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Fannie Mae and Freddie Mac are Government Sponsored Enterprises (GSEs) or “Agencies” that buy loans from mortgage banks and either hold them in their portfolios, or package them into “Mortgage […]Read More

Fannie’s HomePath Financing Died In 2014, and Nobody Noticed

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Fannie Mae offered special financing for its REO properties via its Homepath program for about five years. It came out with big fanfare in 2009 b/c it offered special financing […]Read More

Jan. 26: Big Day – FHA MI Drops; CU Appraisal Rule In Effect

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January 26th, 2015 is a big day in the mortgage industry. 1. FHA “monthly” MI is lower (down to 0.85% for most loans) for all case numbers ordered from today […]Read More

3% Down for Condos; Don’t Need FHA Approval for Condos!

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Fannie Mae’s new 97% loan will finance condos! This is huge b/c in the past Fannie would only go to 95%. This means that condo complexes no longer need to […]Read More