Some of my wholesale lenders are being aggressive and funding conforming loans on a higher conforming maximum loan limit of $625,000 for a one-unit property, which is $75,000 above the current FHFA limit of $548,000.The new limits generally are released for Freddie and Fannie loans by the Federal ... » Learn More about What the Higher Conforming Loan Limits Means For New Mortgages
Regulations and Laws
Latest CFPB Rules to Transition Mortgages Out of Forbearance
The Consumer Financial Protection Bureau (CFPB) issued new federal mortgage servicing regulations as the foreclosure moratoria and forbearances are phased out. The rules will establish temporary special safeguards to help ensure that borrowers have time before foreclosure to explore their options, ... » Learn More about Latest CFPB Rules to Transition Mortgages Out of Forbearance
Federal Reserve Acknowledges Inflation and Rates to Go Up Sooner Than Originally Planned
Click to enlarge The recent Federal Reserve statements convey that the high inflation being realized presently may more lasting, and not be as transitory as originally predicted. Now they’re expecting to raise rates sooner than previously perceived. There’s a lot of Fed banter now about starting ... » Learn More about Federal Reserve Acknowledges Inflation and Rates to Go Up Sooner Than Originally Planned
Is Your Condo HOA Doing the Required Balcony Inspections and Have Adequate Reserves to Correct Issues Discovered?
As we hear about the high-rise condominium building collapsing in Florida and balconies collapsing during parties in Malibu, the structural integrity of construction is in the news and the forefront of new government laws and building codes. In August 2019 California passed SB 326 that went into ... » Learn More about Is Your Condo HOA Doing the Required Balcony Inspections and Have Adequate Reserves to Correct Issues Discovered?
Supreme Court Decision Will Affect Freddie Mac and Fannie Mae Mortgages Underwriting and Fees
The US Supreme Court decided that the leadership structure of the Federal Housing Finance Agency (FHFA) violates the Constitution and the separation of powers. That gave President Biden authority to remove the agency’s head at will. Just hours after the court’s decision, the White House fired ... » Learn More about Supreme Court Decision Will Affect Freddie Mac and Fannie Mae Mortgages Underwriting and Fees