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Fannie Says No to Re-Repurchases; New Appraisal Guidance; Goldman Sachs Servicing Rumor; FHA Loan Limits

The servicing saga continues today with the story in Financial Times that Goldman Sachs may be open to selling its Litton Loan mortgage-servicing division . Apparently nothing is imminent, but the story once again raises the question about large financial firms owning servicing in light of the approach...

Posted to Pipeline Press (Weblog) by Rob Chrisman on Fri, Dec 3 2010

Loan Scenario: MI, $19,000, 548, 63% LTV, Purchase

[Scenario] I was hit with medical bills and want to buy a home. I found out I was in default when I went to buy this home. Since then I paid off all my late bills. My creadit score does not reflect my reliability or ability to pay my debts. I would be willing to pay a higher intrest rate and can come...

Posted to Loan Scenarios (Forum) by Tim Ellison on Thu, Jul 9 2009

FHA Loan Limits Now Updated to 2008 Limits

Just an update. ML: 2009-07 released making 2008 limits effective for 2009. You can now search MSA limits on hud.gov for your area. Here is the link for the mortgagee letter: http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/09-07ml.doc

Posted to General Mortgage Discussion (Forum) by Clem Borkowski on Wed, Feb 25 2009

Re: Mortgage Insurance

[quote user="Gary Paetzold"]From what I understand the only time the MI changes on a FHA 30 YR loan is when the LTV exceeds 95 ltv. [/quote] I stand corrected (well sit corrected actually). I'd forgotten that the new ML changing the UFMIP also allowed for a slightly lower monthly MIP if...

Posted to Mortgage Questions (Forum) by Clem Borkowski on Wed, Feb 25 2009

FHA Streamlines w/o appraisal 2008 mortgage limits

Just a heads up, I've been talking to FHA and they should be posting a new ML stating your can do a FHA Streamline without an appraisal using the 2008 loan limits in 2009. Should open up some deals for purchases or refi's from last summer. Just FYI if you've got deals that won't work...

Posted to Loan Scenarios (Forum) by Clem Borkowski on Fri, Jan 9 2009

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