The new Good Faith Estimate makes its debut January 1, 2010.
Expanded from 1page to 3, the legislators responsible for the new Good Faith Estimate want it to be simpler for homeowners and home buyers to understand than the former version.
By most accounts, Congress will meet this goal.
The new Good Faith...
Beginning November 17, 2009, the FHA will make it harder to qualify for its popular Streamline Refinance program.
Available exclusively to homeowners with existing FHA home loans, the streamline program is meant to help homeowners reduce mortgage payments as simply as possible.
As such, the program carries...
Posted by
yourmortgageplanner on Sep 23, 2009 in
FHA |
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This update contains the pertinent changes to FHA Streamline Refinance guides as outlined in Mortgage Letter 2009-32 and are effective on November 17th, 2009..
Here are the 11 things you need to know about these changes:
1. Current loan must have 6 months payment history.
2. Current loans with 6 to 12...
As a reminder, Fannie Mae is rolling out new lending guidelines Tuesday, September 1, 2009.
Starting next week, being approved for a home loan could be much more difficult.
The new rules mark the first major underwriting update since April of this year. The changes are mostly geared at fraud...
Mortgage markets finished the week unchanged last week but don’t let that make you think the markets were flat. It was a bumpy five days and rates were volatile.
Friday was the worst day of the week by far.
An all-day deterioration, sparked by better-than-expected housing data, caused mortgage...
