Mortgage

Video – HUD’s New Condo Financing Rules Will Make Buying Uncertain

By Rebecca Williamson · October 30th, 2009

The Department of Housing and Urban Development (HUD) announced effective December 7, 2009 all condominium complexes must be approved directly by HUD to be eligible for Fannie Mae or FHA financing. What Does this Mean to San Mateo Buyers and Sellers? Buyers and sellers are going to have to be patient and allow realistic time [...]

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New San Mateo Condo Financing Guidelines

By Raymond Stoklosa · October 30th, 2009

San Mateo County condo buyers and sellers may be in for shock and disappointment as new, stricter underwriting rules announced by The Department of Housing and Urban Development (HUD) scheduled take effect on December 7th, 2009 (now pushed to February 2010) for all condominiums and planned unit developments (PUD). The new underwriting rules, which apply [...]

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URGENT CONSUMER ALERT: Upfront Fees for Loan Modifications Now Prohibited…and it’s About Time!

By Raymond Stoklosa · October 27th, 2009

California law now prohibits anyone, including real estate agents and attorneys, from demanding or collecting an advance fee from a consumer for loan modification services. Effective immediately, Senate Bill 94 prohibits any attorney or real estate licensee from demanding or collecting advance fees – money upfront – from a consumer for loan modification of mortgage [...]

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The New World of Real Estate Appraisal – What HVCC Means to You

By Raymond Stoklosa · October 26th, 2009

The recent settlement agreement with the Office of Federal Housing Enterprise Oversight (aka – OFHEO) in which the mortgage industry agreed to changes on how appraisals are processed contains many needed and necessary changes to help clean up an industry in disarray. The new Home Valuation Code of Conduct – known as HVCC – imposes [...]

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New Financing Rules May Force San Mateo Condo Values Down

By Raymond Stoklosa · October 23rd, 2009

San Mateo condo values may suffer with the imposition of the new, stricter underwriting rules for condominium complexes announced by Fannie Mae and FHA. We expect San Mateo condominium prices to drop in the near future as Fannie Mae and FHA’s stricter qualifying guidelines are implemented. New Guidelines for Financing Condos Put Out By Fannie [...]

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