Fannie Mae and Freddie Mac have announced they will start using the Note date to determine if a mortgage qualifies for a HARP refinance in order to make things more transparent for borrowers. Both Fannie and Freddie are standing firm with the date of May 31, 2009. At least the NOTE date is something a borrower can find instead of using the date Fannie Mae or Freddie Mac securitized the mortgage (which the borrower has no control over).
Almost HARP 3.0: Cut-off Dates Adjusted for Home Affordable Refi’s
October 23, 2013 by 16 Comments
What May Impact Mortgage Rates this Week: October 21, 2013
October 21, 2013 by Leave a Comment
Typically the Jobs Report falls on the first Friday of a month. With the government shutdown in full swing, the September Job’s Report was delayed and is now scheduled to be released tomorrow. Here are some economic indicators that are scheduled to be released this week:
What May Impact Mortgage Rates this Week: October 14, 2013
October 15, 2013 by Leave a Comment
The Government shutdown continues to drag on with the debt ceiling deadline pretty much here. Currently mortgage rates are at very low levels, however if the US defaults on their debts, we could see a spike in interest rates on Thursday. I hope I’m wrong… and we’ll how the next few days are going to pan out soon.
Getting a Mortgage during the Government Shutdown
October 3, 2013 by 11 Comments
How much this government shut down impacts mortgage loans depends on several factors, including what stage your mortgage is in processing, what type of mortgage it is and who the investor is. It’s possible that it may not impact your transaction at all. The more time our government is shut down, it may become more difficult or require more time to process a mortgage loan. The shutdown in 1995 lasted for a very long 21 days – let’s hope our representatives can get this resolved soon!
