The Times They Are A Changing
January 8, 2010 by Jeff Thomas · Leave a Comment
What’s ahead for home loans in 2010
This year could bring significant changes from 2009 for those seeking home loans. Over the last year, home prices fell to 2003 and earlier levels in many parts of the country. In addition, home loan rates declined to the lowest levels on record and this combination led to the [...]
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) [...]
New Home Affordable Foreclosure Alternatives Program
December 8, 2009 by Jeff Thomas · Leave a Comment
Fairfax, Virginia: The Treasury Department released guidelines and updated forms on November 30, 2009 for its new Home Affordable Foreclosure Alternatives Program (HAFA) for homeowners in Fairfax, Virginia and Alexandria, Virginia area. The HAFA program is supposed to compliment the HAMP program and applies to loans not owned or guaranteed by Fannie Mae or Freddie Mac. [...]
Mary Had A Little Plan
November 14, 2009 by Jeff Thomas · Leave a Comment
What factors determine your credit score?
Payment history – 35%
Amounts owed – 30%
Length of credit history – 15%
New credit – 10%
Types of credit used – 10%
Obviously the single most important factor is your record of paying your bills on time. As delinquent accounts age they factor less into the calculation of your credit score. Here is [...]
