FHA announces policy changes
January 21, 2010
Federal Housing Administration (FHA) Commissioner David Stevens
yesterday outlined the new set of policy changes created to strengthen FHA’s
capital reserves.
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Fannie Announces "First Look" Program for its REO Properties
December 9, 2009
During the first 15 days a property is
listed for sale, only buyers who intend to occupy the home and public
entities committed to the community may purchase a Fannie Mae REO
property.
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Fannie Mae Tightens Underwriting Criteria
December 9, 2009
Fannie Mae is tightening its underwriting
criteria by raising the minimum credit score for automated underwriting
(Desktop Underwriter) from 580 to at least 620 for all loans
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FHA Releases
Condominium Approval Process
December 7, 2009
FHA recently released Mortgagee Letter
“Temporary Guidance for Condominium Policy” and “Condominium Approval
Processes for Single Family Housing”.
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Treasury Sets Guidance
to Simply "Short Sales"
December 7, 2009
The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage
companies to speed "short sales of homes and other
loan
modification
alternatives to stem a rising tide of foreclosures.
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Existing-Home Sale Continue to Rise
June 30, 2009
Existing-home sales – including single-family, townhomes,
condominiums and co-ops – rose 2.4 percent to a seasonally adjusted
annual rate of 4.77 million units in May from a downwardly revised level
of 4.66 million units in April. Sales remained 3.6 percent below the
4.95 million-unit pace in May 2008.
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Free Entry into National Parks
June 16, 2009
Free entry into 147 U.S. national parks
will be available three weekends this summer
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2009 Public School Florida Comprehensive
Aptitude Test Scores Released
May 29, 2009
Many of the Escambia and Santa Rosa County
Schools Increase Test Scores. See newly released scores.
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More houses get multiple offers
May 6, 2009
More homes for sale are attracting multiple
offers as buyers pursue lower-price homes and banks low-ball asking
prices to attract competing bids on foreclosures.
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Prospects for Florida’s recovery heat up,
economists say
May 6, 2009
After two long years of recession,
economists are beginning to see signs that the economy’s recovery is
finally in sight.
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With home affordability up,
buyers starting to return
April 8, 2009
Thanks to record low mortgage rates and
declining home prices, 55 million families – half of all U.S. households
– can afford today’s $200,000 median-priced new home
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Tax credit might be shot in the arm for
first-time homebuyers
April 7, 2009
Many first-time buyers have the income
and credit to qualify for a home loan but need help with the down
payment
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Strengthen Your Credit Score
April 6, 2009
Four months ago, one of loan originator
Gisela Sauzo’s clients settled on the perfect home for herself and her
two children.
Although her credit wasn’t perfect – last December her credit score
registered at 600 – it was high enough to secure a mortgage.
So she thought.
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Long-Term Mortgage Rates at Record Low
April 2, 2009
Interest rates for 30-year, fixed-rate U.S.
mortgages fell to a record low in the week ending April 2, the Federal
Home Loan Mortgage Corp. said Thursday.
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The Housing Stimulus Bill Passes
July 30,2008
H.R. 3221, the “Housing and Economic Recovery Act of 2008,” passed
the House on July 23, 2008,
by a vote of
272-152. On Saturday, July 26, 2008, the Senate passed the bill by a
vote of 72-13. The President signed the bill on July 30, 2008. The bill
includes the following provisions:
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Mortgage rescue plan draws Senate support
Jul 9, 2008
A mortgage rescue plan to save hundreds of
thousands of homeowners from foreclosure drew overwhelming Senate
support, inching toward passage despite Republican objections.
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Pensacola Area: Free Family Events
Jun 22, 2008
No matter what type of music you like, there's nothing like sitting in
Seville Square downtown or on Pensacola Beach listening to a free
concert. See details...
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Escambia sets new school start times
Jun 17, 2008
Escambia County students will have new school times in August.
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Appraisal Changes Face Resistance
May 12, 2008
A legal brawl is breaking out over how homes are appraised, at what cost
and by whom.
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Pensacola-area
News effecting the