Caution – How Lenders are Finding Fraud with Buyer’s

SOURCE IN recent years, lenders have stepped up fraud-prevention investigations and checks on mortgage applications. For borrowers, this may mean facing questions on actions like accepting cash gifts from relatives for the down payment or signing up for new credit cards during the application process. The research firm CoreLogic estimates that fraudulent residential mortgage originations […]

New Loan Limits for Conventional and FHA Loans

The current loan limits for conventional and FHA loans is being reduced effective October 1st, 2011. The new loan limit will be $625,500. Loans closing after September 30th must be at or below the new loan limit and there will be celebrity porn no exceptions per the federal government regulations. It then will become a jumbo loan. […]