DFW Area Residents Among Deepest in Debt

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 In case you don’t read the Dallas Morning News, I have scanned it into this blog for you to read.  I am amazed at these rankings considering that Texas in general and DFW in particular have been given some of the best real estate ratings among the major cities and states.   But…read on…
“Dallas-area [...]

New Credit During Mortgage Application Process a No-No

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In an effort to improve the underwriting quality of home loans delivered to mortgage financier Fannie Mae, lenders will be required to take a closer look at your debt obligations beginning next month.
Come June 1, lenders will be directed to “review and evaluate the “inquiries” section of the borrower’s credit report to determine [...]

New FHA Rules Pinch Would Be Home Buyers

FHA New Rules Pinch Would Be Buyers
When mortgage underwriting rules change making it more difficult to obtain an FHA loan, no one likes it.
In January; the FHS tightened lending requirements in order to shore up their capital reserves and help the agency to do a better job of managing risk.  Many of us complain about [...]

Fannie Mae Tightens Mortgage Rules Again

Fannie Mae tightens lending rules again!
Fannie Mae, the giant mortgage finance company that helps shape lending guidelines, is raising minimum credit score requirements and will limit the amount of overall debt that borrowers can carry relative to their incomes. 
Starting Dec. 12, the automated system that Fannie Mae uses to approve loans will reject borrowers whose [...]