Earlier this month PMI started to tighten up their guidelines even further. Effective 6/1/2008 most companies are discontinuing insurance for all Cash Out refinances and any Conforming loan receiving a level loan approval.
Last year I had a vision of what 2008 would hold for the industry. I felt that Conforming lending would tighten up so [...]
Entries from May 2008
PMI Companies - Tightening Up Conventional Loans
May 29th, 2008 · No Comments
Tags: Mortgage Related · Real Estate Related
Mortgage Lending To Real Estate Investors
May 8th, 2008 · 1 Comment
In the past there was enormous opportunities for investors to obtain mortgages. I saw loans at 100% financing on Stated income with a credit score of 620. Now things have changed dramatically and investors are struggling to finance their investment properties through a standard residential mortgage lender.
The biggest problem we are seeing today is the [...]
Tags: Mortgage Related · Real Estate Related
Credit Report and Credit Scores
May 5th, 2008 · No Comments
It has become eminent that America needs to take charge of their finances and learn how they can better their situation for obtaining credit. In the past you could have a variety of issues and still obtain loans for what you need. Today the financial sector is not buying high risk or buying very little.
The [...]
Tags: Mortgage Related