Recent Credit Crunch and Mortgage News
How to Compare Interest Rate Quotes
Posted from Blown Mortgage 23 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
When you’re trying to nail down the best interest rate from the multitude of lenders in the marketplace…it can be a daunting task. One lenders rate might be .125% better than another yet their fees might be higher. Or the rates are the same from the different lenders but one has mor... (original story)
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Who Really Approves Your Loan?
Posted from Blown Mortgage 23 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
Believe it or not, there are a TON of people who are involved in approving your mortgage loan application. The loan officer takes your loan application and helps you select the mortgage that best suits your needs. The loan processor documents your loan file and asks you all sorts of nosy questi... (original story)
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Shop For Your Loan Modification Rate
Posted from Blown Mortgage 23 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
If you’re eligible for the new HARP 2.0 home loan modification program then congratulations, you’re eligible to save thousands of dollars that would otherwise go to mortgage interest. And with this new version of HARP comes some features not previously available yet there’s a co... (original story)
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HARP 2.0 Seems to be Working Better
Posted from Blown Mortgage 23 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
After fits and starts with a variety of Loan Modification programs with varying degrees of, or lack of, much success, the 2.0 model so far seems to be a good bet to finally address major issues that homeowners underwater on their property can find some relief. The Homeowners Affordable Refinance ... (original story)
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Watch Out for Those Modification Overlays…They Can Kill Ya!
Posted from Blown Mortgage 23 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
Historically, say way, way back to 2007, if a lender made a loan written to Fannie Mae, Freddie Mac or Government Guidelines, they could sell that loan to any other lender, investor or to Fannie/Freddie/Govvie directly. When lenders have a universal platform in which to underwrite it creates a co... (original story)
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More Listing Agents Performing "Sniff Test" on Mortgage Originators
Posted from The Mortgage Porter 23 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
I'm noticing that more listing agents are performing, what I like to call, "sniff test" to check out the lender who has prepared the preapproval letter. By the way, I think this is an excellent idea. This is especially true if the listing agent is reviewing multiple offers, which is happening m... (original story)
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HARP 3.0? Changes proposed to help more home owners refinance
Posted from The Mortgage Porter 23 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
It's looking like we may eventually see HARP 3.0. This past week, President Obama has issued a "To Do List" for Congress which includes taking steps to make it easier for more Americans to refinance. President Obama says the average homeowner will save $3000 a year by taking advantage of today&... (original story)
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HARP 2.0 for your High Balance (aka Conforming Jumbo) Mortgage
Posted from The Mortgage Porter 23 hours ago
Housing Crash Central : Credit Crunch and Mortgage News
Conforming mortgages have a loan limit of $417,000 for a single family dwelling. Some counties in Washington, such as King, Pierce, Snohomish and San Juan, qualify for an additional higher limit known as "high balance" or sometimes called "conforming jumbo". In the greater Seattle area, the current ... (original story)
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HARP 2.0 and Private Mortgage Insurance
Posted from The Mortgage Porter 9 days ago
Housing Crash Central : Credit Crunch and Mortgage News
The Home Affordable Refi Program (HARP 2.0) is a refinance program to help home owners who have lost home equity take advantage of today's historic low interest rates. In order to qualify for this program, the existing mortgage must have been securitized by Fannie Mae or Freddie Mac prior to ... (original story)
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HARP 2.0: Higher Loan to Values now available at Mortgage Master Service Corporation
Posted from The Mortgage Porter 9 days ago
Housing Crash Central : Credit Crunch and Mortgage News
Our company has been waiting and waiting for banks to remove their restrictions on loan to values for HARP 2 - Home Affordable Refinance. It's simply not happening quick enough to help underwater home owners in the greater Seattle area. You can learn more about the Home Affordable Refi Progra... (original story)
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Just another renter who can't look away from the oncoming train wreck that is the housing crash
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