Winter 2011 : “Cheat Sheet” For The New Fannie Mae Guidelines

In Winter 2011, Fannie Mae changed its mortgage guidelines to favor personal income over personal assets. Check the “Cheat Sheet” to see how you’ll be affected.

2011 Conforming Mortgage Loan Limits By County, Including “Normal” and “High-Cost” Areas

In 2011 — for the 6th consecutive year — the single-family conforming mortgage loan limit will be $417,000. The “high-cost” area program is extended, too.

In Charts : The Falling, Long-Term Cost Of A 30-Year Fixed Rate Mortgage

As compared to the day *after* the expiration of the $8,000 home buyer tax credit, today’s cost of carrying a 30-year fixed rate mortgage to term is lower by $51,000. Mortgage rates are on a 6-month rally.

How Deflation Changes Mortgage Rates

According to Google, “deflation” chatter is growing. It’s extending the Refi Boom for another few weeks.

FHA Mortgage Insurance Premiums To Rise In October : Should You Act Now, Or Should You Wait?

For the second time in 4 months, the FHA is changing the way it charges mortgage insurance.

The Mortgage Rate Roller Coaster

Ride the mortgage rate roller coaster. Literally.

Fannie Mae To Get Tougher On Mortgage Insurance, Income Levels and Credit Scores

For the second time in 10 weeks, Fannie Mae is toughening its mortgage guidelines again. Again. According to an internal Fannie Mae document, a review of the group’s current “risk appetite, eligibility requirements, mortgage insurance options, and pricing” spawned changes spanning credit scoring, income requirements, loan-level pricing adjustments.

Over The Long-Term, Cash-Out Refis Can Be Cheaper Than Lines Of Credit

It doesn’t take an elephant’s memory to remember that Prime Rate was 8 percent-plus just 2 years ago. A few years before that, Prime Rate neared 10 percent. These are the facts that the banks aren’t selling. Instead, banks and credit unions are dangling low “start rates” as bait and looking for homeowners to bite.

Fannie Mae Toughens Guidelines On 2-Unit Homes, Trailing Spouses And Retirement Portfolios

Mortgage approvals are getting more difficult. Again. After reviewing recent unemployment data and market fluctuations, plus patterns of mortgage fraud, Fannie Mae is making major mortgage guideline changes for the first time in more than 6 months. The changes are broad, impacting 15 separate areas of the mortgage approval process. The most impactful change may be Fannie Mae’s new restrictions on mortgages for 2-unit properties.