· Future home buyers will have to pay for the sins of the past.
Freddie Mac completes first small pool sale of deeply delinquent mortgages Moody’s: Ocwen’s servicer ratings no longer on verge of downgrade Environment News Service; Extraenvironmentalist; Going Local Going Green; Greenbiz; Green European Journal; green social thought; pembina institute Blog; Revelator; Uneven Earth; Wine Water Watch; Yale EnvironmentMortgage financier Freddie Mac announced Monday that it would put greater restrictions on the types of delinquent loans it buys from mortgage pools.. Under the new guidelines, Freddie Mac will only purchase delinquent loans 120 days or more overdue if they meet certain criteria.Fed officials stay cautious in shifting market Freddie Mac speeds up availability of streamlined loan mods Streamlined Loan Modification Program Frequently Asked Questions: Important Bulletin: December 14, 2016 – In Single-Family Seller/Servicer Guide (guide) bulletin 2016-22 [pdf], Freddie Mac announced the new Freddie Mac Flex Modification, which is designed to offer you an easier, flexible way of helping more borrowers qualify for a loan modification in a changing housing environment.GLOBAL MARKETS-Trade uncertainty stops world stocks in tracks – That shift came after a breakdown in trade negotiations between the United States and China earlier this year, and has markets betting on an interest rate cut from the U.S. Federal Reserve. in June.
Some important changes to the FHA loan program were announced last week. According to the Department of Housing and Urban Development (HUD), FHA loan limits for most U.S. counties will go up in 2019 in response to rising home values. But program officials say there won’t be any reduction in FHA mortgage insurance premiums anytime soon.
The Federal Housing Administration is increasing its annual mortgage insurance premium one quarter of one point on all 15-year and 30-year mortgages backed by the agency. The hike is in response to a congressional mandate that gave the FHA permission to increase premiums and keep its insurance fund liquid.
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The increased mortgage insurance costs are part of the Temporary Payroll Tax Cut Continuation Act of 2011, which requires FHA to increase the annual MIP. As stated previously, the FHA Up Front Mortgage Insurance Premium is also affected; the current rate of one percent will increase to 1.75 percent of the base loan amount.
Beginning in early April, the upfront mortgage insurance premium (MIP) is being raised from 1.75% of the base loan amount to 2.25%. If you are considering a purchase or refinance using FHA, now is a good time to start the process and save some money.
Partly due to the New Year holiday adjustment, the Mortgage Bankers Association reports an abnormally large 8.3 percent increase in. Take a maximum FHA base loan amount of $679,650. The monthly.
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