The Federal Government has taken important steps to increase mortgage activity, including increasing loan limits for Fannie Mae, Fredie Mac and the FHA and agreeing to buy $600 billion of mortgage debt from Fannie and Freddie. The latter announcement resulted in mortgage rates on government backed loans dropping by a third of a percentage point. However, self-employed borrowers and nonconforming or “jumbo” loan borrowers (loans in excess of $417,000 to $729,000, depending on the market) are finding it difficult to obtain a bank loan, even with good credit and savings, because lenders are relying heavily on loans gauranteed by Fannie Mae and Freddie Mac and the FHA. The Personal Journal of today’s Wall Street Journal has an informative article on this situation including some tips from mortgage brokers on how borrowers can improve their chances of obtaining mortgage financing.
News Clippings
Archived Posts from this Category
December 2, 2008
Current State of the Mortgage Market
Posted by supcoffconstructionlaw under News Clippings, Residential Real EstateLeave a Comment
September 25, 2008
Construction Development In NoMa Section of Washington DC
Posted by supcoffconstructionlaw under News ClippingsLeave a Comment
August 25, 2008
Builder Incentives In Today’s Turbulent Housing Market
Posted by supcoffconstructionlaw under News Clippings, Residential Real EstateLeave a Comment
The House Talk Section at wsj.com has an interesting Q&A column of advice for potential buyers of new residential construction. The article discuses builder buy backs, interest rates and points, discounts on upgrades, and lease back deals.
February 22, 2008
The Home Front Section of today’s Wall Street Journal has an informative article (with pictures) on roofing material options. Asphalt shingles are compared to architectual asphalt shingles, composite, metal, cedar wood shakes, slate, and clay tile.
