Fannie Mae sees sharper home-price declines, loses $2.2B

WASHINGTON — The steeper slide in home prices is accelerating the pace of foreclosures, Fannie Mae said Tuesday as it outlined plans for shoring up its finances following a $2.2 billion first quarter loss.
While the nation’s largest buyer of home loans will slice its dividend and attempt to raise $6 billion, mostly by issuing new […]

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Slimy Appraisers blamed for Mortgage Mess?

An a move to “clean up the mortgage mess” Fannie and Freddie will require tougher standards for appraisers - most notably the mortgage broker can no longer hire the appraiser
Fannie and Freddie agreed to a new code that would govern appraisal selection, compensation, conflict of interest and other issues. Under the code, mortgage brokers […]

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Fannie Mae Introduces HomeSaver Advance

Fannie Mae Introduces HomeSaver AdvanceTM;
Mortgage Workout Option Designed to Help Delinquent Borrowers
https://www.efanniemae.com/sf/servicing/pdf/homesaveradvance.pdf
WASHINGTON DC — Fannie Mae (FNM/NYSE) announced today that, as part of its HomeStayTM initiative to support its mortgage servicers as they provide at-risk borrowers with refinancing and loan workout assistance, it is offering a new option — HomeSaver AdvanceTM.
HomeSaver Advance is […]

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2008 Fannie Mae Loan Limits

We get a lot of questions about these - you may want to bookmark this post
2008 Loan Limits
2008 Conforming Loan Limits News Release
2008 Single-Family Mortgage Loan Limits
Single-Family Mortgage Loan Limits effective January 1, 2008:
First mortgages
One-family loans: $417,000
Two-family loans: $533,850
Three-family loans: $645,300
Four-family loans: $801,950
Note: One- to four- family mortgages in Alaska, […]

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