See which lenders are leading the pack in U.S. mortgage lending.
Some good news for Bay Area real estate … and my firm.
Rates on conforming loans up to $417k and super-conforming loans up to $729k continue to trade up and down as much as .5% per week but as of today we’re net even on lows we touched 10 days ago. Rates on Jumbos from $729k to $3.5m are competitive for borrowers with strong down payments, income
As of May 1, a new regulation prohibits loan officers from talking to home appraisers. Previously, this was one of the first steps in a loan agent’s client advisory process. The new regulation is called the Home Valuation Code of Conduct (HVCC) and was mandated by Fannie Mae and Freddie Mac, which both are regulated
My WeeklyBasis report has been anything but in the past two months. One reason is that yet another voice doesn’t always help when market hysteria levels run high. The other reason is that I’ve been busy. The lending industry continually shifts as the credit crunch moves toward the end of its 21st month, so this
Forthcoming Appraisal Regulations At this point most loan agents, realtors, and brokers have heard of the HVCC (Home Valuation Code of Conduct), an agreement worked out between the state of New York and Fannie & Freddie (OFHEO). Originally slated to take affect January 1, 2009, the Appraisal Code’s implementation has been pushed back to (probably)
More credit crunch updates.
Subprime mortgage problems going viral throughout the entire financial system.
Before rate comments this week, I wanted to let you know about the “Residential Pacific Mortgage 15 Day Close.” My internal bank (which serves only RPM loan agents) will close your loans in 15 days, or all mortgage banking fees will be waived. The rate snapshot below is for reference the week of September 8,