Archive for Indiana Mortgage News
Fannie Mae Loan Buyback Requests Up More Than 60% Year Over Year
While many expected the disturbingly high number of GSE directed repurchase demands to mortgage lenders on nonperforming loans to crescendo in 2009 – 2010 is looking to be an even more onerous year for mortgage lenders that sold loans to the GSEs. Nonbank financial institutions in particular, could be at significant financial risk by the [...]
Backdating Purchase Agreements for Home Buyer Tax Credits = Criminal Fraud
As a reminder, the Home Buyer Tax Credits have expired. This means that buyers who wish to benefit from the tax credit must have already accepted binding purchase agreement as of April 30, 2010.
With the tax credit deadline expired, home buyers or REALTORS® may be tempted to backdate post-April 30th purchase agreements. REALTORS® must resist [...]
States: Let taxpayers cover your mortgage
NEW YORK (CNNMoney.com) — Unemployed? Owe more on your mortgage than your home is worth? Your state might one day pay your mortgage. Giving people free money to cover their home loans is just one of the radical ways that four states — Florida, Michigan, California and Arizona — plan to use $1.4 billion the [...]
Indy Mortage News Letter
The Real Estate Market Minute:
Warren Buffet Sees Housing Market Bouncing Back by 2011
Billionaire Warren Buffet said the U.S. will recover from the residential real estate slump by 2011 as demand for houses catches up with the supply that accumulated during the bubble.
Click Here to Read the Full Article by USAToday.com
If you’re considering a [...]
What is this Guy Thinking ?
H.A.R.P. was put into law last year by our President Obama. It was placed into law so that people could Refinance there mortgage up to 125% of the current value of there home. Our President told us that this would allow people to refinance there mortgage that was underwater due to the value.
However, here is the problem. [...]
Fannie: Buybacks Happen for a Reason
Fannie Mae said Friday that many mortgage lenders are not complying with the most basic underwriting guidelines, such as confirming a borrower’s identity or verifying a Social Security number. Marianne Sullivan, a senior vice president and Fannie’s chief risk officer, sent a nine-page letter to lenders announcing a “Loan Quality Initiative” to ensure that loans [...]
Siding adds to curb appeal
By Angie Hicks / Star correspondent
Posted: February 20, 2010
Replacing old or damaged siding on your house can make it easier to sell it or add long-term value if you’re planning to stay for several years.
According to the National Association of the Remodeling Industry, adding new siding offers one of the best returns on [...]
Indiana Mortgage Watch
As reported by the IBJ Real Estate Weekly, on a seasonally adjusted basis, the pace of mortgage loan activity grew 21 percent in the week ended Jan. 29, according to the Indiana Mortgage Bankers Association. Rates for 30-year loans decreased to 5.01 percent from 5.02 percent the previous week. Fifteen-year mortgages [...]
NAR Issues Brochure Explaining the New Short Sales Program (HAFA)
NAR has issued a new brochure to help members understand the new Home Affordable Foreclosure Avoidance Program (HAFA) that takes effect on or before April 5, 2010. The purpose of the program is to help homeowners, who are unable to retain their homes under the Home Affordable Modification Program (HAMP), avoid [...]
Tax incentives, favorable buying climate propel first-time home purchases
Local buyers get first home at younger age and for a lower price – with less household income than national counterparts
Indianapolis — Central Indiana consumers are satisfied with the timing of their home purchase, according to the Metropolitan Indianapolis Board of REALTORS® (MIBOR).
The findings emerged from the 2009 Profile of [...]