Kris Krajecki's (imcallingkris) Blog

•1.     As of November 1st 2007 Mortgage Insurance rates will be increasing.  Coverage amounts will remain the same but the factors are changing.•2.   As of November 1st 2007, the Mortgage Insurance companies are scrutinizing lower credit scores more than ever.  In some cases regardless of AUS fi...

Important FHA Credit Policy Changes...Effective October 1, 2007 HUD/FHA establishes the minimum standards for insuring an eligible mortgage application.  These standards are described in several handbooks published by HUD/FHA and are amended from time-to-time by Mortgagee Letters.  The handbooks ...

See 2 quick bullet points about the program below. I have attached mortgagee letter #2007-11 from HUD on the specific guidelines about the "FHASecure" program. Please review the mortgagee letter for all details. Under the "FHASecure" program, borrowers who are delinquent on their mortgages as a r...

Investors and agencies are intensifying their review of property values. The appraisal report must adequately support the opinion of value and property description, utilizing available public and non- public information concerning local trends in home prices.   Recent FNMA Announcements discuss t...

Treasury 10-year notes rose for the first time in a week as forecasts for slowing growth reduced inflation expectations. Federal Reserve policy makers cut the target rate for overnight lending between banks a half-percentage point to 4.75 percent on Sept. 18 as the housing slump and rising corpor...

SAN FRANCISCO (MarketWatch) -- HSBC Holdings said on Friday that it's shutting one of its U.S. subprime mortgage businesses, a move that will trigger an $880 million accounting hit and $65 million in costs for the bank's HSBC Finance division. The closure of Decision One Mortgage, which offers ho...

With lenders tightening the reins on lending, borrowers really need to be sure their credit scores are at the highest level to borrow.  Here are some things to help your borrowers.  We have shared this information before. But it has become even more important during with the changes in the indust...

Passed by a vote of 348 to 72, the bill reforms the Federal Housing Administration and is the latest lifeline thrown to borrowers from Washington as the fallout in the mortgage market continues. About two million loans are expected to reset to higher rates in the next two years, with defaults exp...

Treasury 10-year notes fell the most in six weeks as investors speculated inflation will accelerate after the Federal Reserve cut interest rates by a half-percentage point. The difference between two- and 10-year Treasury yields rose to 55 basis points, the widest spread in four weeks. The Fed ye...

History repeatedly serves to show us that the real estate market is cyclical. It has boom times and stagnant times, occasionally it suffers a crash but real estate never becomes worthless, therefore if the experts are right and we're about to suffer a slow to stagnant period in the real estate ma...