My CA Mortgage

Have a fun during this holiday weekend!  Stay Safe!

The number of Americans filing for their first week of unemployment insurance fell slightly last week, according to a weekly government report released Thursday.
There were 460,000 initial jobless claims filed in the week ended May 22, down 14,000 from an upwardly revised 474,000 the previous week, according to the Labor Department’s weekly report.
The report also [...]

Recently US Bank’s National Wholesale Sales Division has made several changes for originators brokering to them. A week ago USB came out with revised credit scores for all government loans, both FHA and VA. FHA Streamline Refinance (non-credit qualifying) Non LP or DU now require a 640 minimum FICO score (loan amounts over $417,000 require [...]

US Bank’s wholesale group announced that after Wednesday all government loans, both FHA and VA, must follow its new minimum FICO score and trade line requirements. Loans under the FHA Streamline Refinance (non-credit qualifying) Non LP or DU program will require a 640 minimum FICO score (loan amounts over $417,000 require a minimum 680 FICO [...]

Fannie Mae announced that it will tighten lending requirements for its interest-only loans and adjustable rate mortgages. If a borrower wants an IO mortgage through Fannie, for example, he or she will have to make down payments of 30% of the sale price. For ARM’s, Fannie will only buy those underwritten to ensure that borrowers [...]