First Priority Financial Inc.

Lending gets a little easier..

Getting A Home Loan About To Get Easier Getting a home loan is about to get easier. That's because Fannie Mae and Freddie Mac, the two government-backed residential finance giants that backstop a majority of all home loans, have put new lending guidelines in place that should make it easier for borrowers to secure loans. Not only are the two age ...
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Federal Housing Administration (FHA) Announces 2015 Maximum Loan Limits

On 12/5/2014, FHA's Office of Single Family Housing published Mortgagee Letter 2014-25, which provides FHA's single family housing loan limits for Title II Forward Mortgages and Home Equity Conversion Mortgages (HECMs), and provides loan limit instru ...
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Huge miss on numbers..mbs takes a .31 hit.

The morning started out with Non Farm Payrolls hit 321K vs est of 230K and Unemployment 5.8% vs est of 5.8% Immediately mortgage backed securities went into a free fall losing .31%(bad for rates). Later, October Factory Orders hit -0.7% vs est of 0.1% September was revised slightly higher. R ...
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FHFA raising loan limits in 4 California counties

The Government is trying to increase lending in 2015! FHFA told us they’re not lowering any more county limits (phew!) and they’re raising some others: Existing FHA Borrowers in these 4 counties (below) are now eligible to refinance into conventional financing. What does this mean? They’re ...
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Daily update...rates moving up slightly after positive news

October Headline CPI 0.0% vs est -.01% Core (Ex Food and Energy) 0.2% vs est of 0.1% Initial Weekly Jobless Claims 291K vs est of 285K So, just like the PPI readings this week, the higher costs were passed on to consumers. Jobless were higher than expected but the streak of sub-300K is still ali ...
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Fannie Mae lowers timeframe to purchase/refinance after a short-sale, foreclosure, or bankruptcy

Fannie Mae reduced its mandatory waiting period after a pre-foreclosure, short sale, or bankruptcy in October, 2014. In August of 2014, Fannie Mae and Freddie Mac increased the waiting period to 4 years but has switched back to a period which is s ...
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