Fannie Mae

Fannie Mae’s HomeReady Program New Information

Fannie Mae’s HomeReady, the affordable mortgage option designed to meet the diverse needs of today’s borrowers, announced new enhancements. HomeReady allows borrowers to provide as little as 3% down, and was the first affordable lending option to offer creditworthy borrowers the ability…

More News from Fannie Mae on Credit Evaluation

According to a recent article from Julie Wink of National Professional Mortgage Magazine, Fannie Mae’s announcement about “trended” data being added to mortgage credit reports for the underwriting process is going to cause a shift in the mortgage industry. This announcement will…

New Appeals Process for Loan Repurchases

Last week, Fannie Mae and Freddie Mac disclosed an appeals process that will allow an independent arbitrator to resolve any disputes between lenders and the government-sponsored enterprises over loan repurchase demands. An article in National Mortgage News by Brian Collins explains that…

New Fannie Mae Program Could Make Qualifying Easier

According to a recent article in the Wall Street Journal by Joe Light, Fannie Mae reported earlier this week that it will begin a program this year that will let lenders include income from non-borrowers within a household toward qualifying for a…

Fannie Mae Update

The Federal National Mortgage Association, better known as Fannie Mae, recently made a variety of major changes to its lending policy. One of these is related to unreimbursed employee business expenses. For a borrower who is qualified using base pay, bonus, overtime, or…

Information for Borrowers Who Lost Their Homes

For one-time homeowners who suffered specific types of a major financial crisis, Fannie Mae is now making it easier for borrowers to become homeowners once again. Fannie Mae is reducing waiting times and lowering down payment requirements needed to qualify for a…

Critical Underwriting Update | Effective Aug 16, 2014

Major changes are in store for Fannie Mae underwriting guidelines beginning August 16, 2014. This will drastically effect buyers with recent short sales. The primary changes beginning 8/16/14 will be: Four years of seasoning required regardless of down payment amount following a…

Changes to Fannie Mae and Freddie Mac

As 2013 continues to move along, so do a number of changes in the mortgage world. On Monday, acting director of the Federal Housing Finance Agency, Edward DeMarco, who oversees Fannie Mae and Freddie Mac, announced a plan to combine the two…

Short Sales are Becoming Easier

Easier Short Sales The Federal Housing Finance Agency has announced new short sale rules that might make it easier for borrowers to sell their homes for less than what they owe on their mortgages. The new rules will go into effect November…

Getting a Mortgage May Be Tougher, But Still Very Realistic for Most Americans

Recently you may have heard the media say that it’s difficult or impossible to get a mortgage. I’d like to clear up any confusion or untruths. It may be more challenging to go through the mortgage process today, but banks are still…

Free Public Outreach Class for Struggling Homeowners to Be Held May 21, 2011

For homeowners in the San Diego and Temecula areas of Southern California, this free seminar is being held on May 21, 2011. The HELP Program has partnered with the local community to hold a free public outreach class in Temecula on May…

Fannie Mae 102-4

102-4 represents where the Fannie Mae mortgage bond closed yesterday. While the vast majority of the general public (including me, until I really began studying the interest rate markets) has absolutely no idea the significance of this number, it represents a very…

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