RECENT BLOG POSTS
Here is the FHA Waiting Periods After BKs, Foreclosures and Short-Sales 2 years application date from discharge date on Chapter 7 BK 3 years application date from discharge date on foreclosure, short-sale, or any delinquency of 120 days or more 1 year from START of Chapter 13 BK (meaning they...
10/10/2012
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USDA update. Impac will continue to generate USDA purchase business in all of the existing approved counties for now. Congress has also agreed to give at least 30 days notice if there are any changes to the eligible areas. Call me if you have a USDA loan. We are moving forward.
09/19/2012
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Date: September 10, 2012 Subject: Guarantee Fee Increase Effective September 11, 2012 Fannie Mae and Freddie Mac have been directed by The Federal Housing Finance Agency (FHFA) to raise guarantee fees (g-fees) by an average of 10 basis points. This means that Fannie Mae and Freddie Mac pricing w...
09/11/2012
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To protect the applicant’s ability to finance a home that is located in a community that may become ineligible on October 1st, the complete file (with appraisal) must be received by the appropriate USDA Rural Development Office on or before September 28th, the last business day of Fiscal Year 201...
09/06/2012
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Here is a USDA update if you have a file in process and a county that will be no longer eligible OCT 1 2012. The complete and approved file has to be received by RD no later than close of business September 28th. The file does not have to have been issued a conditional commitment but RD must have...
08/28/2012
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Ineligible Places Due 2010 Census ‐ DATA IS PRELIMINARY, DRAFT AND SUBJECT TO CHANGE Towns, villages, cities, places, etc. that will become ineligible on Oct. 1, 2012 due to an increase in the population (based on the 2010 census data), will no longer be eligible due to the expiration of the ...
08/21/2012
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Changes to USDA Guarantee Annual Fee Effective on October 1, 2012, the start of Fiscal Year (FY) 2013, Rural Development will revise the Up-Front Guarantee Fee and Annual Fee structure as follows: Up-Front Guarantee Fee FY 2012 Through 9/30/2012 FY 2013 Effective 10/01/ 2012 Purchas...
08/03/2012
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FHA will increase two fees that borrowers pay. Starting April 1, it will increase its annual mortgage insurance premium for loans under $625,500, bringing the total cost from 1.15 percent of the loan amount to 1.25 percent. Starting June 1, larger loan premiums will see an increase of 0.35 percen...
02/28/2012
FHA Extends Waiver of Anti-Flipping Regulations Through 2012: In an effort to continue stabilizing home values and improve conditions in communities experiencing high foreclosure activity, Acting Federal Housing Administration (FHA) Commissioner Carol J. Galante will extend FHA's temporary ...
01/02/2012
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The VA is making some changes coming soon. Please see below. Loan Fee Structure for VA-Guaranteed Loans Veteran Reservist/National Guard First Time Use 2.15% 1.50% 1.25% 2.40% 1.75% 1.50% Downpayment Less than 5 percent1 *November 22, 2011 through Septe...
12/06/2011