Diane Gerdes's (dianegerdes) Blog

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Mortgage and Lending - The Mortgage Advantage, Inc.

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2010 

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Question:  I am trying to close a short sale for my seller.  She purchased her home with an 80 percent loan to value first mortgage and a 20 percent second.   Now we are told the 20 percent second has private mortgage insurance.  How did this happen? Answer:   Private Mortgage Insurance (PMI) is ...
09/30/2010
The weapon of  mass property devaluation is finally getting shot down a notch or two. Effective September 1st, Fannie Mae (conventional loans) issued a new directive to lenders addressing concerns on today's appraisals. Fannie Mae issued announcement SEL-2010-09, "Selling Guide Updates and Additi...
09/12/2010
 The weapon of mass property devaluation is finally getting shot down a notch or two.   Effective September 1st,  Fannie Mae (conventional loans) issued a new directive to lenders addressing concerns on today's appraisals. Fannie Mae issued announcement SEL-2010-09, "Selling Guide Updates and Add...
09/12/2010
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