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Update:



Temporary Loan Limits Return for all FHA Loans in High Cost Areas

Recently, the President signed into law a new bill H.R. 2112, called the Consolidated and Further Continuing Appropriations Act of 2012. In response to this new legislation, HUD has issued Mortgagee Letter 2011-39 detailing the acceptance and timing of the return to higher FHA loan limits.

Visit HUD's FHA Mortgage Limits webpage for a simple way to find out your loan limits



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Freddie Mac’s Automated Engine Gets A Facelift

by Daniel C. Salas
Categories: Chico Home Loans, Home Buying, Mortgage Industry Updates
Tags: , ,

Automated Underwriting Will Become More Difficult To Obtain

Freddie Mac Changing LP

LP Changes

Loan Prospector has updated it’s automated underwriting engine to accept only ratios to 50.33% of a client’s income, when qualifying for a loan.  Previous to the current announcement, Freddie Mac would allow a 55% of a client’s income to pay monthly obligations.  The announcement, from Freddie Mac, is another example of the changes in the lending industry, and the more stringent guideline requirement that the industry in going through.

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This entry was posted on Wednesday, May 5th, 2010 at 8:41 am and is filed under Chico Home Loans, Home Buying, Mortgage Industry Updates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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Daniel C. Salas CA DRE License #: 01167493 NMLS #: 232306 Access Real Estate Lending is a dba of American Pacific Mortgage Corporation CA DRE License #: 01215943 NMLS #: 1850
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