Mortgage Industry

Anti-flipping policy waiver extended – helps Santa Clarita FHA homebuyers

January 3, 2012

For the second year in a row, Santa Clarita homebuyers utilizing FHA insured mortgages will be relieved to know that the Federal Housing Administration has extended the waiver of their anti-flipping policy. The anti-flipping policy affected FHA homebuyers who wanted to purchase homes that had been owned for 90 days or less. The government wanted [...]

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Santa Clarita Mortgage Video Update: October 2011

October 18, 2011

Conventional loan for 3% down? Wow! That could be useful. Listen in and watch Keith Renno from the Renno Lending Team @ Pacific Funding Mortgage, and gain some insight as to what’s happening in the mortgage market, and how it may affect Santa Clarita real estate. There are so many condo and townhome communities in [...]

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Loan limit changes and their effect on Santa Clarita real estate market

September 30, 2011

On October 1, 2011, the maximum loan limits for conforming FHA/Conventional loans will change. The Santa Clarita real estate market will be impacted. But how much? Fannie Mae and Freddie Mac, at he directive of the US Government, can no longer buy loans that have a loan amount more than $625,500. This is a change, [...]

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Ocwen Introduces Shared Appreciation Modification Program – SAM

July 28, 2011

In an effort to keep homeowners current, and give them some skin in the game, so-to-speak, Ocwen has just introduced their principal reduction program that they call SAM, short for Shared Appreciation Modification program. This program will aim to reduce upside down homeowners’ mortgage principal balance to 95% of market value, and in return the [...]

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Popular Santa Clarita Mortgage Questions

July 26, 2011

Thanks to Keith Renno at The Renno Team of Pacific Funding Mortgage, for hanging out with me today on the ScvRealEstate360 show. Today we discussed the most popular and currently relevant questions that homebuyers and borrowers, are asking about mortgages. Interest Rates? Down Payment Assistance? What’s the difference between Conventional and FHA loan programs? When [...]

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Santa Clarita Homebuyers Compare: Conventional loan or FHA?

July 12, 2011

With so many condominium communities within the Santa Clarita Valley, and to be sure, across the country, losing their FHA approved status, homebuyers are scrambling to find other options that enable them to purchase a home. Within just the Santa Clarita Valley, 11 more communities will lose their FHA approved status on July 31, 2011, [...]

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Bank Of America: You can substitute new buyer on short sale for one who walked without restart

July 12, 2011

Today Bank of America sent out an announcement, making it clear that going forward, when a homebuyer walks away from an offer on a short sale, they can be substituted by another buyer’s bank-up offer without restarting the entire short sale approval process. This is great news for homebuyers interested in pursuing homes that are short [...]

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Santa Clarita Mortgage Update By The Renno Lending Team – April 2011

April 12, 2011

Thank you to The Renno Lending Team for putting together this Santa Clarita mortgage update. It’s very important for you homebuyers out there that will be utilizing an FHA insured loan, that the insurance premium for them, will be going up as of April 18, 2011. That’s next week, if you’re reading this now! If [...]

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Santa Clarita Mortgage Video Update – March 15, 2011

March 15, 2011

Thank you to Keith Renno at The Renno Lending Team for putting together another Santa Clarita mortgage video update. Keith warns in this update about the upcoming increase in the mortgage insurance premium associated with FHA insured loans. This will result in a monthly increase in payments for homebuyers who lock in their loan after [...]

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Santa Clarita Mortgage Update – February 17, 2011

February 17, 2011

Thanks again to Keith Renno of Prospect Mortgage, and The Renno Lending Team, for putting together this Santa Clarita Mortgage / Home Loan Update for our team. What’s up with rates and changes lending standards with respect to FICO scores? Listen in, below.

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