FHA Loan Limits Slashed

The maximum loan amounts for two out of the three southwest Colorado counties for Federal Housing Administration (FHA) loans have been reduced significantly, along with other areas in the country. This will have a significant negative impact on first-time other homebuyers in the median price range who do not have 5% or more for a down-payment and/or whose ability to qualify for financing is … Continue reading...

MORTGAGE LENDING – A WHOLE NEW BALLGAME

The mortgage market meltdown in 2008 has dramatically affected the way loans are underwritten and the documentation required by lenders. The Dodd-Frank bill was enacted in 2009 as a knee-jerk response to address some of the practices that contributed to the collapse of the mortgage security market, demise of a number of prominent financial and insurance institutions, and the rash of foreclosures … Continue reading...