President Bush on Wednesday signed into law a housing bill that aims to boost the housing market and solidify mortgage finance giants Fannie Mae and Freddie Mac. Click here to read about Fannie & Freddie.
A larger role for the Federal Housing Administration: The FHA will be allowed to insure up to $300 billion in new [...]

The new housing rescue bill signed Wednesday takes aim to bolster Fannie Mae and Freddie Mac.  In a late additon to the bill, the law allows authority for the Treasury to lend a financial hand to Fannie Mae and Freddie Mac if it deems it necessary to help stabilize markets.
For starters, a more strict regulator will be [...]

On the eve of the merger by Bank of America to bail out the shareholders of Countrywide, even more evidence of greed, self-serving, and morally bankrupt behavior from the nation’s largest lender reared its head.  In the following NBC video, a Countrywide employee pretty much confirms the worst fears of borrowers across the country; that their mortgage [...]

Ralf Cioffi and Matthew Tannin, now infamously former hedge fund managers at Bear Stearns are in no danger of being asked to appear on Jeopardy! any time soon.  These men haven’t exactly fallen prey to a Danny Ocean caliber plan to catch them in the act of looting their clients out of billions of dollars.  [...]

George Cooper is a Senior Mortgage Advisor with Primary Home Finance in East Greenwich, Rhode Island.  I asked George to lend a little insight to what effect  a Declining Market tag has on mortgages.  Currently all Rhode Island counties are considered Declining Markets, despite growth within many areas.   
In a small state like Rhode Island, a family attitude means everything.  [...]

 

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The mortgage industry has gone through some a major overhaul recently, and there is more to come.  The latest shoe to drop is the 100% financing / zero down mortgages.  Not all of them are extinct, but don’t look to Fannie Mae or Freddie Mac to guarantee one.  Now these mortgages are deemed a risky [...]

$200,160.00 was the limit for a single family FHA maximum loan. That limit has been raised to $316,350. Multi family loan limits have been raised as well, as the spreadsheet indicates. Is this a magic fox for all of Rhode Island’s real estate problems? Of course not, but it is a start. It is one [...]

These loan increases will go into effect April 1, 2008 for 15-30 year fixed mortgages. The criteria for adjustable rate mortgages will not be available until May 1, 2008.  To give an idea of the magnintude of the increase; previously, the loan limit on a single family conforming loan was $417,000.00.  Please note that this is not to be [...]