(Originally published April 17, 2010.) For the past year, unique and extreme economic conditions helped maintain mortgage rates at historically low levels. But it seems the party’s now over. In …
New Federal Regs + Incompetent Loan Officers = Canceled Closings. Don’t Let This Happen To You!
(Originally published March 21, 2010.) Everything seems to be going smoothly. The purchase contracts were signed. The mortgage was approved. The closing is scheduled. Then you get the call that the …
Today’s Home-Buying Opportunities Will Disappear As Economy Slowly Recovers
(Originally published March 2, 2010.) While the US economy remains sluggish, data seems to indicate we’re in a transition to a recovery. Following such a severe recession, many economists concede …
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More Lenders Busted Under FHA Crackdown
(Originally published February 21, 2010.) On January 26, 2010, The FHA stepped up enforcement actions, essentially shutting down six mortgage lenders by immediately and permanently revoking their …
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Condo & Coop Markets Are Going Through A Transition As Fannie & Freddie Change Requirements
(Originally published February 1, 2010.) Don’t look now, but buying or refinancing a condo or a coop just got harder. Over the past two years, Fannie Mae and Freddie Mac suffered huge financial …
Good Faith Estimate 2010 – The Good, The Bad, and The UGLY.
(Originally published January 24, 2010.) As of January 1, 2010, the latest government revision to the banking industry has been the redesign of the Good Faith Estimate (GFE). In years past, there …
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