If you live in MN and you want to use one of these sites to find your next home, you should know that approximately 20% of the homes for sale are not being shown to you. Because these sites are riddled with data inaccuracies, Edina Realty decided to pull their listings from these third party [...]
Read moreFHA Seller Paid Closing Costs Reduction Announced
To much fanfare, FHA announced measures to better protect their insurance fund in a recent Final Ruling published in the Federal Register. Slipped in as a footnote to this announcement was a declaration that FHA is deaf to the concerns of the real estate industry. They are taking aim to again attempt to reduce the [...]
Read moreFannie Mae Guideline Changes – Gifts, 97% Financing and Mortgage Insurance
There has been some recent excitement about Fannie Mae (FNMA) changing her guidelines on down payments and allowing gift funds as an acceptable form of down payment in lieu of a borrower’s own funds. Before we all get excited about FNMA getting a little FHA in her with respect to gift funds, we need to [...]
Read moreFHA Mortgage Insurance and Seller Concession Changes – Ramifications
HUD has regrettably increased the annual mortgage insurance premium and soon will have succeeded in reducing the allowable seller concessions. It’s easy to know that this will have a big impact but it will actually change the lending landscape.
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January 29, 2012




