Inland Empire Direct Mortgage Lender | FHA VA USDA HARP 2 Home Loans » Fannie Mae

CA Conforming / FHA Loan Limits Dropping Oct. 1, 2011. How Will it Affect You?

Brad Yzermans — Wed, 08 Jun 2011 12:53:10 +0000

If you are a home buyer or home owner in a traditional high-cost area of California, like Riverside, San Bernardino, San Diego, Orange, or Los Angeles county, October 1st could be a very bad day for you. Starting October 1, 2011, temporary conforming and FHA insurable loan limits will be lowered nationwide. ________________________________________________________ — UPDATE [...]

Closing Cost Assistance for CA Fannie Mae Foreclosed/REO Bank Owned Homes

Brad Yzermans — Tue, 12 Apr 2011 17:02:54 +0000

Fannie Mae HomePath just announced a special 3.5% closing cost assistance program for Inland Empire California home buyers who purchase a Fannie Mae foreclosure REO bank owned home. The limited 3.5% incentive requires buyers submit request with initial offer after June 14, 2011, and must close escrow before October 31, 2011. This is a great [...]

How FICO Credit Report Disputes Can Get Your Home Loan Denied or Delayed

Brad Yzermans — Tue, 08 Mar 2011 17:28:40 +0000

Did you know that disputing an error on your FICO credit report can actually get your home loan denied? And didn’t your lender and/or ‘credit repair’ guru tell you to dispute all the derogatory accounts in your credit report in hopes of increasing your FICO credit score? Fannie Mae and Freddie Mac have adjusted their [...]

Government is Increasing Loan Costs Again Starting April 1, 2011 (no fooling)

Brad Yzermans — Thu, 06 Jan 2011 13:52:22 +0000

Starting April 1, 2011, the government is increasing loan-level pricing adjustments (higher fees).....and that's no joke! Most conforming mortgage applicants will face higher loan costs.

California Conforming and FHA Loan Limits for 2011

Brad Yzermans — Fri, 08 Oct 2010 21:59:32 +0000

Conforming mortgages in California are appropriately named because they conform to the mortgage guidelines set forth by Fannie Mae and Freddie Mac. Of the many traits of a conforming mortgage, one is “loan size” and loan sizes have limits. Mortgages exceeding this loan size limit cannot be securitized as a conforming mortgage and, therefore, are [...]

Changing Again: New Lending Rules Starting December 13, 2010

Brad Yzermans — Thu, 07 Oct 2010 12:51:52 +0000

Starting Monday, December 13, 2010, Fannie Mae is changing its mortgage lending guidelines. Plan accordingly

Fannie Mae/Freddie Mac Mandatory LLPA Fees Prevent Borrowers From Getting Their Absolute Lowest Rate

Brad Yzermans — Wed, 14 Jul 2010 12:52:25 +0000

Conventional California mortgage rates in the Inland Empire may be posting all-time lows this week, but that doesn't mean you'll be eligible for them. You may have already called your loan officer and found this out the hard way. It's because of a federally-mandated mortgage-pricing scheme known as "loan-level pricing adjustments".

Fannie Mae Guideline Change: The Death of Conforming Interest Only Mortgages?

Brad Yzermans — Wed, 16 Jun 2010 22:22:12 +0000

If you plan to finance or re-finance your Inland Empire home with a conforming interest only mortgage, get your loan application submitted no later than this Friday, June 18. Fannie Mae is clamping down on the popular conforming interest only loan product for California Residents. An “interest only” mortgage is exactly what its name implies — [...]

Borrower Beware! Fannie Mae’s Loan Quality Initiative: Repulling Your Credit Just Before Closing

Brad Yzermans — Tue, 08 Jun 2010 12:57:47 +0000

A new loan quality initiative from Fannie Mae is making it harder or more riskier for home buyers and refinancing homeowners in California to close on a mortgage.

1 In 8 Banks Tightened Prime Mortgage Standards Last Quarter

Brad Yzermans — Thu, 06 May 2010 13:04:01 +0000

The Federal Reserve says that financial markets "remain supportive of economic growth". Residential mortgage guidelines, however, continue to tighten. If you've applied for a home loan recently, you probably felt it; extra scrutiny on income, assets and credit scores, among other things. The hard proof of the changes, however, can be found in the Federal Reserve's quarterly survey of its member banks.