Due to the continuous downfall of the housing market the US department of Housing and Development (HUD) has released the Mortgage Letter 2009-08 which temporarily ends the FHA option of 95% Cash Out through Refiance. From now onwards Federal Housing Administration (FHA) will only give 85% LTV (Loan to Value) on a Cash Out through [...]
New York Daily News Frank,MortgageRegulator Spar on BonusesWashington Post, United StatesFrank, whose committee oversees themortgagefinance companies and their regulator, went further, asking Fannie Mae and Freddie Mac to eliminate all retention payments and claw back those already paid. The companies, seized by the government in…Fannie Mae & Freddie Mac Refinances – Even If You Owe 105% [...]
Washington Post BernankeMortgageRates Get 4% Handle First Time: Chart of DayBloombergBy Kathleen M. Howley March 20 (Bloomberg) — The lowest fixedmortgagerates on record may fall further after the Federal Reserve tripled its commitment to buy securities backed by conventional home loans. Lenders will be setting rates “with the…Mortgagerates near all-time lowBizjournals.comLocked Out of RefinancingWashington PostDeceptivemortgageads: [...]
Fed move drivesmortgagerates below 5%Dallas Morning News, TXLess than a day after the Federal Reserve said it would double its purchases ofmortgagedebt, fixed rates on conforming 30-yearmortgagesdropped as much as half a percentage point to well under 5 percent. Many analysts doubt that rates will be headed…Video: March 19: Fed Moves Weigh on TradingThe Associated PressMortgagerates [...]
ABC News Official: FBI Agents Going Undercover to Target Fraud inMortgage…FOXNewsWASHINGTON — The undercover agent may be a familiar player in drug investigations and mafia busts, but it turns out that undercover work also is under way in the FBI's campaign to fightmortgagefraud. FBI Deputy Director John Pistole,…FBI Ramps Up Probes of Financial,MortgageFraudWall Street JournalLawmakers [...]