FHA Is Reducing The Maximum Loan-To-Value On Cash-Out Refinances

If you’re in need of a cash out refinance, the most liberal cash-out program in town is about to make qualification more difficult. Effective April 1, 2009, the FHA is reducing the maximum loan-to-value on cash-out refinances by 10 percent, dropping the loan size limit from 95% of the home’s...

10 Things That Appraisers Must Do For All FHA Appraisals Done After April 1, 2009

If the following appraisal guidelines look foreign to you, that’s okay, because this update is intended for Appraisers and Underwriters. 1. The Market Conditions Addendum (Fannie Form 1004MC/Freddie Form 71). 2. At least 2 comparable sales within 90 days of appraisal date. 3. A minimum of 2 active...

FHA loan limits in Maricopa County

Phoenix, AZ FHA loan limits in Maricopa County have just increased from $271,050 to $346,250. This is a great opportunity to purchase a home.

Mortgage Rates February 12, 2009 – Socialism Undercover

Mortgage Backed Securities reacted negatively to the days new of socialism, by giving up 19bp (30 YR 4.5% FNMA).  Lenders released a mid day price increase which hit both FHA and confirming mortgage rates.  Once the Subsidy chatter hit the wires, the DOW recouped its losses, while MBS gave up there...

Mortgage Rates February 11, 2009 – Hard Eight

After two solid days of gains MBS took a breather, with the FNMA 30 YR 4.5% ending where it started.  Mortgage Rates both FHA and Conforming did show improvement when released this morning, after lenders accepted the fact the past two days improvements were solidified. The House Financial Services...