Sep 7th 2010 10:21AM
The most flexible first-time homebuyer loan just became a bit more stringent. Starting Oct. 4, homebuyers must have a minimum credit score of 500 to be eligible for a Federal Housing Administration-insured mortgage. Borrowers seeking a single-family home mortgage with credit scores ranging from 500 to 579 will be limited... Continue Reading »
Sep 3rd 2010 12:48PM
Fannie Mae won't fade away so easily -- at least not before it strikes some fear into sluggish loan servicers. The company has announced that it will penalize loan servicers who take too long to process foreclosures that clearly don't qualify for a short sale or loan modification. The fines will be based on a formula that... Continue Reading »
Nov 19th 2009 9:00AM
Rueters reported yesterday that the U.S. inflation is edging up and housing starts are falling. The sharp fall of new home construction last month may show lingering weakness in the economic recovery. The Commerce Department reported yesterday that housing starts dropped 10.6 percent, or 529,000 rental units were built... Continue Reading »
