9 More Days Until the New Appraisal Law Goes Into Effect!
We have 9 more days until appraisals have to be ordered through AMCs. The rule is that your application and disclosures must be signed and dated prior to May 1, 2009. If you do so, then we have control over who to order your appraisal from. If you sign and date your...Update on the New Appraisal Law (Home Valuation Code of Conduct)
Lenders are accepting broker-ordered appraisals (i.e. from me) when any application is dated and submitted by the borrower before May 1st, 2009. If you date your application May 1st and after, then we have to go through Appraisal Management Companies (AMCs). The...Fannie Mae Refi Plus Program (Making Home Affordable): It’s Here!
Lenders are slowly starting to roll out the Making Home Affordable program, which will allow some homeowners to refinance their mortgages up to 105% of their home’s value. The background of this program can be found here. First things first: You need to see if...Explaining the Conforming Loan Limit Changes
The government keeps re-establishing new conforming loan limit changes, which I understand has gotten confusing! When we take into account how long it takes for all the different entities to determine their part to the solution, it can take a while for the changes to...Big Changes to Mortgage Insurance Rules!
Mortgage Insurance is required when you have less than 20% down. It serves to protect the lender in case you default on your mortgage (because by putting less than 20% down, you are deemed a more risky borrower). If you’re in this down payment bracket of less...Spring Fling Cocktail Party and Vendor Fair
For those of you who are local, Viva La Diva Parties is throwing a great event at the Sheraton in Sunnyvale this Thursday, from 6 to 9pm. Spring Fling Cocktail Party and Vendor Fair It includes live music, buffet, cocktails, networking, shopping and a fashion show,...Waiting to Lock?
If you’re waiting to lock an interest rate because you think that rates will continue to decrease, please remember to consider decreasing values. I’ve had some clients decide that it was best to hold out, and now when they’re ready to lock, their...Big Rally in Interest Rates
After news on the Fed’s announcement yesterday to continue to purchase mortgage-backed securities, interest rates started improving significantly. This morning’s rates were the bottom of what I’ve seen. If you were on my Watch List, you got a call...Chat with me!
I added the widget for “online chatting” to my blog. Scroll down and you’ll see the chat box in my sidebar. If you have any questions and I’m online, ping me and we can chat. Have a great week! Irene Share this: Share on Facebook (Opens in new...Loan Calculator
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