From the category archives:
It’s about the December 2011 Payroll Tax Extension program that passed into law. The government voted to finance the tax break’s $33 billion price tag via fees collected on new mortgages. If your next mortgage is either conventional or FHA, therefore, be prepared for new, mandatory loan fees. For Fannie Mae and Freddie Mac conventional [...]
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It didn’t take long for the lower mortgage limits that began October 1st to be changed. As of November 18th the mortgage rate limits were selectively revised with FHA loan limits increasing but with conventional loan limits staying the same. Does this change make a lot of sense? No. Is this change the law of [...]
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U.S. lawmakers yesterday ramped up efforts to block multimillion-dollar bonuses for executives at Fannie Mae and Freddie Mac , the government-controlled mortgage finance firms that just this month have sought billions more in taxpayer-funded assistance. Lawmakers in both chambers and in both parties have expressed shock at revelations the firms, which have been already propped [...]
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