Fannie Mae Set to Raise Fees--Borrowers See it in Interest Rate
- By:
- MortgageLoan.com | August 06, 2008
Fannie Mae has announced to lenders a October 1 increase in delivery fees from 0.25 to 0.50 percent point on mortgages it helps finance. Introduced earlier this year, the "adverse market delivery charge" is expected to pass through to the mortgage borrower in the form of high interest rates.
Fannie Mae, which now finances more than 70% of all US mortgages, also announced that they will be increasing guarantee fees that it charges on financed loans based on borrower down payments and credit scores.
These adjustments are said to be moves to better align loan pricing with credit risk. The certainty is that mortgages for consumers are rapidly becoming less affordable and potentially driving more downward pressure on home prices.
Mortgage Application Woes, What to Do When Your Lender Says No
- By:
- Bill Rice - MortgageLoan.com | September 05, 2008
The mortgage market is in a monumental shakeup and that is leaving many borrowers with rejected stamped on their mortgage application. However, there are lots of options to improve your chances of getting approved from credit repair to government mortgage assistance programs. Learn a few simple techniques to get your next mortgage application approved.
GMAC Lays off 5000, Shutters 200 Retail Branches
- By:
- Bill Rice - MortgageLoan.com | September 04, 2008
GMAC became the latest in a long line of mortgage business downsizing and closings. GMAC announced on Wednesday that it will be laying off 5000 employees and closing over 200 of its retail mortgage branches throughout the US.
Fannie, Freddie May Dodge Bailout
- By:
- Bill Rice - MortgageLoan.com | September 03, 2008
On the heels of a reasonably priced Freddie Mac auction of $1 billion in 5-year notes Fannie Mae and Freddie Mac's stock continues to climb out. This re-issuance priced at a spread of 95.6 basis points more than the 5-year US Treasury notes--signaling a reasonable risk premium and capability to continue issuing debt.
Fed Hawks Softening Inflationary Rhetoric
- By:
- Bill Rice - MortgageLoan.com | September 02, 2008
As the next Federal Open Market Committee (FOMC) quickly approaches the anti-inflationary hawks are softening their rhetoric for a rate hike. Increasingly the call on September 16 looks to be one of staying the course as economic indicators continue to report in confusingly balanced, good and bad way. This certainly makes a case for the Fed to take their hands off the economic wheel again and let markets do as they may--to determine reality from hype.
Mortgage Market Giving Economists Fits, Should Mortgage Borrowers Care?
- By:
- Bill Rice - MortgageLoan.com | September 01, 2008
It seems we are in the perfect economic storm for mortgages. Many homeowners and potential home buyers are stuck in a confusing mix of market signals. A blend of good and bad that leave us with a balanced scorecard. This is leaving most experts offering little practical advise and instead focusing on predicting the bottom. Since, there is little market news on this Labor Day lets take the down time to step back and see what all these current mortgage trends might mean to you.
Mortgage Fraud Increases, Could be Next Market Challenge
- By:
- Bill Rice - MortgageLoan.com | August 29, 2008
Mortgage meltdown discussions are peppered with discussions of the "liar loan," or the infamous streamline "no doc" mortgage. These mortgages filled the portfolios of most of the recently failed lending institutions. However, increased scrutiny on all types of lending should have closed off this risk. Or has it?
6.03
5.78
