Mortgage loan documentation, why is so much needed? The mortgage lending industry has gone through a transformation over the last few years, to put it mildly. In many ways the clock has been turned back. Do you remember the days when there was no such thing as stated income loans? Do you remember
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03/31/2012
For Sale: Carmel Mountain Ranch Home with a view, This Carmel Mountain Ranch Home with a view features 4 Bedrooms and 2.5 Bathrooms with 2290 Square Feet. The front of this Carmel Mountain Ranch Home features mature low maintenance landscaping and a 2 car garage. The backyard of this Carmel
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03/29/2012
FHA guidelines changes on collections and self employed borrowers In a Mortgagee letter issued on February 28, HUD announced new FHA Loan guidelines pertaining to open collections as well as requirements for Self Employed borrowers. All of these FHA loan guideline changes are effective with case
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03/07/2012
FHA announced changes to Mortgage Insurance for FHA Streamline Refinances The newest Mortgagee Letter issued by HUD on 3/6/12 not only addressed the upcoming general changes to mortgage insurance premiums previously accounced in a press released, but also included changes on the mortgage insuranc
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03/07/2012
California Homebuyer's Downpayment Assistance Program (CHDAP) Announces changes the California Homebuyer's Downpayment Assistance Program (CHDAP) is one of the programs offered by the California Housing Finance Agency (CalHFA) to assist First Time Homebuyers in purchasing a home. The recent chang
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03/02/2012
What do the FHA MI changes mean to the buyer's monthly payment? HUD is presenting the increase to the FHI MI premium as something that will have nominal effect on a buyer's monthly payment, but is that the case? Payment Comparison for FHA MI Changes Sales Price: $350,000 Base Loan Amount: $3
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03/01/2012
FHA TAKES ADDITIONAL STEPS TO BOLSTER CAPITAL RESERVES- New preimum structure is meant to help protect FHA's MMI fund. A press release was issued on Monday February 27,2012 by HUD announcing the changes ahead of the Mortgage Letter being issued. This is a recap of that press release. In an effort
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02/28/2012
USDA home loans requires no money down and closing costs can be paid by the seller making USDA home loans a great alternative to FHA financing. The program is available for properties considered to be in a rural area in California. There are many benefits to USDA Home Loans which buyers should
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11/07/2011
Congress has finally made a decision that benefits those that sacrifice so much for our country. Effective with loans closing Oct 1, 2011, new VA Funding Fees will be in place. And keep in mind that any veteran receiving ANY amount of disability due ot a service related injury is EXEMPT from ALL
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09/19/2011
With the East coast bracing for the arrival of hurricane Irene, there have been many stories, on print, online and on television, covering all that residents are doing to prepare themselves. Those of us in San Diego County are fortunate that we rarely have to deal with extreme weather, however,
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08/27/2011
