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Dennis Norman Today the Federal Housing Finance Agency released it’s “Foreclosure Prevention & Refinance Report for the Third Quarter 2009“. This report gives data on Fannie Mae and Freddie Mac, the two-quasi-government agencies that either own or insure most of the home loans in the U.S., including how foreclosure prevention and loan modification programs under the [...] Dennis Norman Freddie Mac, Fannie Mae and CitiMortgage give borrowers a break over the holidays… Within the past day Freddie Mac and Fannie Mae have both announced that they are suspending evictions from December 19, 2009 through January 3, 2010 on foreclosed homes, two families and four families, that they hold. CitiMortgage and CitiFinancial announced [...] 15-Year FRM Drops to Set Another New Low in Freddie Mac Survey History McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.78 percent with an average 0.7 point for the week ending November 25, 2009, down from last [...] Freddie Mac announced today that it’s conforming loan limits for 2010 are unchanged from those in effect for 2009 for all areas of the United States. The loan limits set the maximum original loan amounts allowed on single-family conventional mortgages Freddie Mac can purchase except in high cost areas. The loan limits for first mortgages are: $417,000 [...] Dennis Norman As if the fragile housing market didn’t already have enough deadlines to be concerned about, namely the home-buyer tax credit that has been a much-needed shot in the arm to the housing market and is set to expire November 30th, now there’s another deadline looming on the horizon: The American Recovery and Reinvestment Act [...] Dennis Norman By: Dennis Norman In this challenging real estate market agents are looking for ways to find new business and many have turned to short sales. It’s no secret that short sales can be a nightmare, taking weeks and even months to get an answer from a lender on a deal, causing many deals to [...] By: Dennis Norman Back in July I did a post about Freddie Macs “Smartbuy” sales promotion for owner-occupants buying Freddie Mac Homesteps(R) Homes. The special offer began July 17, 2009 and ends October 30, 2009 so there is less than a month to take advantage of it. Under this promotion people buying a Freddie Mac home for [...] Dennis Norman By: Dennis Norman Here is some information agents should share with clients that may be struggling to keep up with their payments on their mortgage, or struggling to get through the paperwork and other requirements for a loan modification under the Affordable Refinance Program. Freddie Mac has launched an effort to help borrowers delinquent borrowers obtain [...] Dennis Norman By: Dennis Norman According to Freddie Macs weekly mortgage market survey the interest rate on home mortgages dropped for the third-consecutive week and remains at a three-month low. The survey shows the interest rate on a 30 year fixed rate mortgage for the week ending September 17, 2009, averaged 5.04 percent with 0.7 percent [...] Dennis Norman According to Freddie Macs weekly mortgage market survey the interest rate on home mortgages dropped to a new three-month low. The survey shows the interest rate on a 30 year fixed rate mortgage averaging 5.12 percent with 0.7 percent in fees and points this week, down from 5.29 percent last week. Last year [...] Charles McMillan 2009 President, NAR By: Dennis Norman National Association of REALTORS(R) 2009 President, Charles McMillansent an email to members stating “as a direct result of my recent meetings with the New York Attorney General’s office, the Federal Housing Finance Agency, Fannie Mae and Freddie Mac this week issued new guidance to all lenders on the [...] Dennis Norman According to Freddie Macs weekly mortgage market survey mortgage rates increased slightly this week from the prior week. The survey shows 30 year fixed rate mortgages averaging 5.20% with 0.7% in fees and points, up from 5.14% the week before. Last year at this time, the 30 year rate averaged 6.63%. Rates on 15 [...] Dennis Norman By: Dennis Norman Today as an unfortunate result of the downturn in the real estate market and economy, agents are hearing from past clients that are struggling to keep up with their mortgages and looking for help. |
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