Monday, August 10th, 2009The mortgage and home valuation arena is in flux still as folks continue to discover the negative impacts of the recently enacted Home Valuation Code of Conduct amid tighter lending guidelines. Some of the unintended consequences of the HVCC are longer turn times for appraisals and suspect valuations from appraisers not familiar with local [...]
|
||||||
|
Monetization of the $8000 first-time home buyer tax credit found in the American Recovery and Reinvestment Act of 2009 is a hot topic these days. The FHA we’ve learned has issued a mortgagee letter (2009-15) regarding monetization of the credit. Roxanne Campanella a Senior Customer Liaison working out of the Sacramento HUD office talked about some of the difficulties in monetizing the tax credit as well as some of the incentives for doing so. She reiterated that regardless of whether the credit is monetized and used in the purchase transaction FHA rules still require a 3.5% down payment and the monetized tax credit could be layered on top of but not be used instead of the 3.5% down payment. Continue reading: ARRA tax credit monetization and neighborhood stabilization programs It has been nearly four years since a representative from Fannie Mae has visited SAR’s Real Estate Finance Forum. Collette Porter a Senior Account Manager for the Northern California region visited from Pasadena to highlight some of the ways Fannie Mae is supporting the current market. Responding to the level of REO properties on the market, Fannie Mae has launched the website www.HomePath.com as a search portal for REO properties. And in response to the recent federal Making Home Affordable Program, Fannie Mae has the website www.fanniemae.com/loanlookup so that individual property owners can determine if Fannie Mae owns the loan for a particular address. Continue reading: Fannie Mae makes an appearance at the Real Estate Finance Forum |
Register | Login | |||||
|
Copyright © 2012 Sacramento Association of REALTORS® Web Log - All Rights Reserved |
||||||
Recent Comments