Tuesday, May 6th, 2008
Government sponsored provider of home loans, Fannie Mae, has just tightened the standards for home mortgages it guarantees or buys.
Fannie Mae has informed lenders that it will require a minimum credit score of 580 for most loans it buys on an individual basis. Previously Fannie Mae had no minimum score.
Credit ...
Posted in Uncategorized | 10,683 Comments »
Friday, May 2nd, 2008
In the nation's worst-hit real-estate markets, home sellers are suffering a new blow: They are being blacklisted by lenders. As property values decline and credit markets contract, home lenders nationwide are growing ever more unwilling to finance home purchases in sharply declining housing markets, driving prices down ...
Posted in buyers, Distressed, Lending, Lessons | 13,290 Comments »
Monday, December 17th, 2007
Most notable is the elimination of Investor Loans for all condos.
· Loans secured by units in new condominium projects are no longer eligible. A new project is a project in which (a) fewer than 90 percent of the ...
Posted in Lending, Uncategorized | 13,232 Comments »