Industry News - 5.19.10

While Home Savings is discontinuing their Interest-Only options at the end of this week, CMG and Mountain West are still offering Interest-Only products, paring their fixed IO down to single family only, owner-occupied, with a minimum 720 FICO required.

Industry News - 5.11.10

Bay Equity released their VA products this last Monday – look for their FHA products to be released soon.

Provident Bank is now offering jumbo product – 80% LTV to $2MM on single family residences.
 
Who raised their LTV’s to 95% on conforming fixed products this last week for California brokers?
 

Industry News - 5.5.10

Happy Cinco de Mayo!

Last Friday was when the $8,000 tax credit for first-time home buyers and the $6,500 tax credit for repeat home buyers expired. Service members, however, who were on official extended duty outside of the United States for at least 90 days between Jan.1, 2009 and May 1, 2010, may qualify for a one-year extension. If a binding sales contract was signed by 4/30, home buyers have until June 30, 2010 to complete the purchase - remember that investors are not guaranteeing any funding dates!