Question: Why are some lenders pulling another credit report before funding a loan? Could that prevent a loan from closing?
Answer: Undisclosed Liabilities – Fannie Loan Quality Initiative FAQ (5/28/10 & 6/7/10) the boring title for another exciting change in our industry. (Think positive thoughts)
Before you pound your head on your desk
Good morning, I am April Gerdes with The Mortgage Advantage, and I would like to talk about volunteering this morning. With our economy in the position it is – how could you not be a little frustrated? Sad? Or maybe even a little depressed. Whether you are a real estate agent, and you have had more deals fall apart than
Appraisals coming in low are part of the market that we are in. Nonetheless, it is still thoroughly frustrating for all parties involved each and every time an appraisal comes in low. Unless of course you are the buyer and the seller happens to be a bank or short sale lender. Then you may be jumping for joy because you
When can I buy a new home?
The calls are coming in from former short sale homeowners that now want to reenter the housing market. The rumor that FHA will finance homes immediately after a short sale is as likely as Lindsay Lohan staying out of jail. FHA Mortgagee Letter 09-52, is very specific on their guidelines (I know, it shocked me, too, a government mandate that is clear and concise).
