Thanks to Susan O’Driscol of Princeton Capitol for this update today. “The FHA announced changes to its guidelines yesterday. It will raise the minimum down payment required for borrowers with credit rating scores below 580 to 10%, while the down payment for higher-ranked borrowers would stay at 3.5%. The up-front MI premium is also going [...]
Posts Tagged ‘credit crisis’
The Beginning of The End? One Mortgage Broker’s View…
A mortgage broker we work with, Andy Block, noted in a recent email to us that he believes that we’re looking at the “beginning of the end” of the credit crisis, and that the government has sent a strong signal that liquidity would not be a problem in the future. A few of his thoughts… [...]
Alan Greenspan Says Credit Crisis An “Opportunity”…
Alan Greenspan faults the U.S.’s approach in fixing Fannie Mae and Freddie Mac, saying the credit crisis offered an “ideal opportunity” to dismantle the mortgage giants. The former Fed chairman predicted U.S. home prices would reach their bottom in the first half of 2009. http://online.wsj.com/article/SB121865515167837815.html?mod=djemWMP
