Loan Level Pricing Adjustments & Credit Bank Changes- What You Need To Know

On May 1, Fannie Mae and Freddie Mac made changes to loan-level pricing adjustments (LLPAs) that have been applied to conventional loans since the Great Recession. Most conventional mortgages that lenders want to sell to Fannie and Freddie will now be subject to the new fees. The fees don’t apply to first-time homebuyers with qualifying income that’s […]

MEET FANNIE MAE AND FREDDIE MAC

Fannie Mae and Freddie Mac were created by Congress. They perform an important role in the nation’s housing finance system – to provide liquidity, stability and affordability to the mortgage market. They provide liquidity (ready access to funds on reasonable terms) to the thousands of banks, savings and loans, and mortgage companies that make loans to […]

Why Are Home Prices Rising So High? Blame Record-Low Mortgage Rates

From: Realtor.com When the coronavirus pandemic gutted the strongest U.S. economy, many assumed another recession would bring rock-bottom home prices along with it. Instead, home prices defied logical assumptions—and soared to new heights. Paradoxically enough, one of the biggest drivers of the double-digit price hikes is the very same record-low mortgage interest rates that put […]

FHA to Cut Mortgage Insurance Premiums: White House

From NY Times.com – January 7, 2015 WASHINGTON — The Federal Housing Administration will reduce annual mortgage insurance premiums by 0.5 percentage point to 0.85 percent from 1.35 percent, the White House said on Wednesday. President Barack Obama will discuss the action in a speech in Phoenix on Thursday. The premium cut is the […]

Borrower’s Guide to Mortgage Settlement

Thanks to Ronald D. Orol of MarketWatch for this info on the recent settlement. The record $26 billion foreclosure-abuse settlement that states and the Obama administration reached last week with five big banks is being billed as a program that will help more than 1 million U.S. homeowners. The funds are being allocated to a number […]