CA Mortgage Blog 1# Living
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【 以下文字转载自 LA_Real_Estate_Mortgage 俱乐部 】
发信人: jingsun70 (洛城地产贷款), 信区: LA_Real_Estate_Mortgage
标 题: Mortgage Blog 1 - HARP Program Updates
发信站: BBS 未名空间站 (Mon Oct 24 18:14:07 2011, 美东)
If your house is severely underwater, you want to pay attention to this
dramatic change for house with negative equity. It is more a stimulus to
save Obama's reelection campaign rather than a fix of turbulent housing
market.Qualified properties should be GSE guaranteed prior to June of 2009.
Removing the current 125 percent loan-to-value ceiling on refinanced
mortgages; (most important of all)
Waiving risk-based fees on borrowers who take shorter term mortgages and
reducing those fees for others;
Eliminating the need for a new property appraisal where there is a reliable
AVM (automated valuation model) estimate provided by the GSEs;
Eliminating certain representations and warranties required of lenders to
obtain the GSE guarantee. This will protect lenders from many of the buy-
back requirements they face under current guidelines.
Existing mortgage loan must be current, with no late payments in the past
six months, and no more than one late payment in the past 12 months
Extending availability of the program through the end of 2013.
发信人: jingsun70 (洛城地产贷款), 信区: LA_Real_Estate_Mortgage
标 题: Mortgage Blog 1 - HARP Program Updates
发信站: BBS 未名空间站 (Mon Oct 24 18:14:07 2011, 美东)
If your house is severely underwater, you want to pay attention to this
dramatic change for house with negative equity. It is more a stimulus to
save Obama's reelection campaign rather than a fix of turbulent housing
market.Qualified properties should be GSE guaranteed prior to June of 2009.
Removing the current 125 percent loan-to-value ceiling on refinanced
mortgages; (most important of all)
Waiving risk-based fees on borrowers who take shorter term mortgages and
reducing those fees for others;
Eliminating the need for a new property appraisal where there is a reliable
AVM (automated valuation model) estimate provided by the GSEs;
Eliminating certain representations and warranties required of lenders to
obtain the GSE guarantee. This will protect lenders from many of the buy-
back requirements they face under current guidelines.
Existing mortgage loan must be current, with no late payments in the past
six months, and no more than one late payment in the past 12 months
Extending availability of the program through the end of 2013.