The world has not turned completely upside down, but, believe me, it is leaning precariously. Remember all those programs that were designed to turn renters into homeowners? Now we have a program to turn homeowners into renters! I refer, of course, to the Deed For Lease program rolled out by Fannie Mae on November 5, […]
Entries Tagged as 'FNMA'
DEED FOR LEASE PROGRAM IS ANOTHER ATTEMPT TO MAKE THINGS BETTER
November 9th, 2009 · No Comments
Tags: Home Buyers · Home Sales · Median Prices of Homes · Buying A Home · Loan Modifications · Bob Hunt · Fannie Mae · FNMA · Foreclosures
Mortgage Money: Where Does the Money Come?
November 2nd, 2009 · No Comments
Boy, how things change. When I was in high school (Disco era of 1978), if my parents wanted a home loan they would walk downtown to the neighborhood bank or savings & loan in Granada Hills, CA. If the local bank in Granada Hills had extra funds lying around and considered my parents a good credit […]
Tags: FHLMC · FNMA · GNMA · Mortgage Servicing · Mortgage Backed Securities · Ginnie Mae · Freddie Mac · Paul Scheper · Lending · Loan Processing · Mortgage Funding · Fannie Mae · Mortgage Lending
COURT RULES AGAINST LENDER’S ATTEMPT TO CUT COMMISSION DURING A SHORT SALE
August 24th, 2009 · 1 Comment
One reason that many real estate agents are less than enthusiastic about short sales is that, too often, a commissionectomy may be involved. By demanding a certain amount of net proceeds, the lender effectively cuts the commission that had been stipulated in the listing agreement. (To be sure, since March 1, 2009 Fannie Mae has […]
Tags: Fannie Mae · FNMA · Bob Hunt · Disclosure · The Market · Short Sales
SHORT SALE, FORECLOSURE, OR DEED IN LIEU: WHICH IS BEST FOR THE BORROWER?
August 3rd, 2009 · 3 Comments
If only the President’s foreclosure-prevention plan worked as well as “cash for clunkers”. But it hasn’t. When the Administration announced the Making Homes Affordable plan in February of 2009, officials said they hoped it would help 4 million distressed homeowners to stay in their homes. As of this writing (8/2/09), the Administration has acknowledged that […]
Tags: Under Water · Making Homes Affordable · Loan Modifications · Deed In Lieu of Foreclosure · FICO · Treasury Department · FICO Scores · FNMA · Freddie Mac · Bob Hunt · Short Sales · Lending · Loan Applicants · Fannie Mae · Loan Processing · Foreclosures
NEW APPRAISAL RULES ARE CAUSING PROBLEMS
July 5th, 2009 · No Comments
Like politics, all real estate is local. This is drummed into us time and time again. You hardly ever see a report about state or national real estate trends without the cautionary caveat that “local markets are all different.” So how, then, does it make any sense for real estate appraisals to be conducted by […]
Tags: Appraisals · Home Valuation Code of Conduct · HVCC · Appraisal Management Company · Appraisal Reports · FNMA · Bob Hunt · Fannie Mae · Freddie Mac · The Market
From The Desk of Duane
April 21st, 2009 · 1 Comment
ABOLISH THE DRE
Assembly Bill 33 (Nava) was approved April 13th in the Assembly Banking Committee. This bill would abolish the Department of Real Estate, the Department of Corporations, the Department of Financial Institutions, and the Office of Real Estate Appraisers. AB 33 proposes to transfer the powers, duties, purposes, jurisdiction and responsibilities of those departments to the […]
Tags: California Department of Real Estate · Duane Gomer · CA Assembly Bills · Loan Modifications · FNMA · IRS Taxation · State Legislation · Fannie Mae · DRE Regulations
NEW FANNIE MAE OWNER-OCCUPANCY REQUIREMENTS WILL HELP TO BOOST INVESTOR SALES
January 5th, 2009 · No Comments
On December 16, 2008, Fannie Mae released announcement 08-34 to lenders around the country. This document contains good news for investors, agents of investors, and lenders who are trying to reduce their REO (”real estate owned”) inventory. The good news consists of a loosening of Fannie Mae’s owner-occupancy ratio requirements for loans made to investor […]
Tags: FNMA · Fannie Mae · Bob Hunt · REO's · Foreclosures