San Diego CA home loans, real estate loans, home finance information – Cornerstone Mortgage Group

Mortgage News Blog

New Appraisal Requirements

April 20th, 2009 10:13 AM

Starting May 1st, 2009, lenders will not be accepting anymore appraisals ordered independantly through mortgage originators. The ordering of appraisals will be done through the investor, and will be random, drawing from a pool of certified appraisers.

Posted by Greg Von Herzen on April 20th, 2009 10:13 AMPost a Comment (0)

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105% Fannie/Freddie Refinance Programs

April 5th, 2009 11:33 PM

Starting shortly, Fannie Mae and Freddie Mac will start buying loans for refinance purposes up to 105% of value. This is a huge benefit to homeowners who previously couldn't refinance because of the downturn in values and banks' loan-to-value requirements. If you want to see if your loan is currently held by Fannie or Freddie to see if you qualify please visit these links:

Visit https://ww3.freddiemac.com/corporate/ and/or http://loanlookup.fanniemae.com/loanlookup/ to check on eligibility requirements.

Posted by Greg Von Herzen on April 5th, 2009 11:33 PMPost a Comment (0)

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Fannie Mae, 2009 loan limit increases with Stimulus Package

March 23rd, 2009 12:04 AM

San Diego county, in addition to all other counties in the country, will be the beneficiary of new, increased loan limits as announced for 2009 under the terms of the Housing and Economic Recovery Act of 2008. The new loan limits will be increasing from $546,250 to $697,500! I will keep you posted on when Fannie Mae will be blessing this decision...it will be shortly forthcoming!

Below is the link to the gov't website which details the new loan limits by county:

http://www.ofheo.gov/Regulations.aspx?Nav=128

Posted by Greg Von Herzen on March 23rd, 2009 12:04 AMPost a Comment (0)

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