Category: Fannie Mae and Freddie Mac

Upcoming HARP 2 Expanded Guidelines

I saw a great blog post today by Rhonda Porter (a local Mortgage Broker who is a prominent blogger) that gives a detailed outline on what to expect in the upcoming Expanded HARP 2 guidelines. Harp stands for the Home Affordable Refinance Program that was released by the Department of Treasury and the Department of …

Fannie Mae’s New Commission Policy

Fannie Mae just announced a new policy regarding pre-foreclosure short sale transactions that is effective March 1, 2009. The policy provides that the closing of a pre-foreclosure short sale involving a Fannie Mae loan may not be conditioned upon reducing real estate brokerage commissions to a level below what the listing agent negotiated with the …