Fannie Mae Unveils Underwriting Changes

December 10, 2009 by Jeff Thomas · Leave a Comment 

Vienna, Virginia: Fannie Mae has updated its automated underwriting software recently. The changes are major and could affect how many potential home seekers actually become homeowners. Having a loan underwritten by an actual person are almost non-existent these days. Both Fannie Mae and Freddie Mac feel they are better served using their proprietary software programs.  Desktop Underwriter® (DU) [...]

2010 Loan Limits Remain The Same

October 31, 2009 by Jeff Thomas · Leave a Comment 

Congress passed a resolution yesterday to keep mortgage loan limits to the 2009 loan amounts. (This is good!) The current limit is $417,000 for most areas of the country. While if you live in a high cost area, like most of northern Virginia and the surrounding areas the limit is $729,650.
To check what the maximum [...]