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Monthly Archives: October 2013

Reverse Mortgage “Fall” Changes

Falling (decreasing) LTVs (Loan to Values) are not a good thing for borrowers.  The LTV is the loan amount divided by the appraised value.  FHA has had increased delinquencies with their Reverse Mortgages.  For this reason, FHA (or HUD) has increased the MIP (Mortgage Insurance Premium) and decreased the LTVs (Loan to Value).   The decrease […]


Government Shut Down Will Slow the Processing of Mortgages

The government shut-down will increase the length of time that it takes to obtain a mortgage.  Below are listed some of the expected consequences of the shut-down. On all Conventional (Fannie Mae and Freddie Mac), FHA, VA, and USDA loans “4506T” results are required.  A “4506T” result is the response from the IRS that provides […]