New jumbo-conforming loan guidelines

[Eugene]

https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2008/0805.pdf

Principal residence FRM: Max CLTV 90%, FICO 700 required to get LTV > 80%

Principal residence ARM: max CLTV 80%

Second home / investment property: max CLTV 60%

Limited cash-out refinance permitted, but cash-back is limited by $2000

2 months’ payments reserves required

Maximum debt to income 45%

Fannie Mae’s Declining Markets Policy applies to mortgage loans with LTV, CLTV, or HCLTV > 75% (i.e. for San Diego, subtract 5% from all LTV’s above)

Pricing for FRMs will be available on April 1st

[kev374]

with a DTI of 45% how many first time buyers do you think will qualify…

oh I know…perhaps .0005%?

[kev374]

with a DTI of 45% how many first time buyers do you think will qualify…

oh I know…perhaps .0005%?

[kev374]

with a DTI of 45% how many first time buyers do you think will qualify…

oh I know…perhaps .0005%?

[kev374]

with a DTI of 45% how many first time buyers do you think will qualify…

oh I know…perhaps .0005%?

[kev374]

with a DTI of 45% how many first time buyers do you think will qualify…

oh I know…perhaps .0005%?

[Eugene]

45% is a lot less stringent than I expected.

[Eugene]

45% is a lot less stringent than I expected.

[Eugene]

45% is a lot less stringent than I expected.

[Eugene]

45% is a lot less stringent than I expected.

[Eugene]

45% is a lot less stringent than I expected.

[equalizer]

45% ratio caused the bubble. every mortg. cal on the planet uses 28/32% ratios, but Fannie of course doesnt care. Fitch/Moodys/S&P should cut Fannie/Freddie to junk, but, of course they wont because they suffer ZERO conseqences for yes, causing this credit problem. All the mutual fund/pension managers should tell these credit bozos to take their BS reports and burn them. But of course these managers dont give a hoot either because, hey its not their money. And I’m in a really good mood, otherwise I wouldn’t be so polite.

[equalizer]

45% ratio caused the bubble. every mortg. cal on the planet uses 28/32% ratios, but Fannie of course doesnt care. Fitch/Moodys/S&P should cut Fannie/Freddie to junk, but, of course they wont because they suffer ZERO conseqences for yes, causing this credit problem. All the mutual fund/pension managers should tell these credit bozos to take their BS reports and burn them. But of course these managers dont give a hoot either because, hey its not their money. And I’m in a really good mood, otherwise I wouldn’t be so polite.

[equalizer]

45% ratio caused the bubble. every mortg. cal on the planet uses 28/32% ratios, but Fannie of course doesnt care. Fitch/Moodys/S&P should cut Fannie/Freddie to junk, but, of course they wont because they suffer ZERO conseqences for yes, causing this credit problem. All the mutual fund/pension managers should tell these credit bozos to take their BS reports and burn them. But of course these managers dont give a hoot either because, hey its not their money. And I’m in a really good mood, otherwise I wouldn’t be so polite.

[equalizer]

45% ratio caused the bubble. every mortg. cal on the planet uses 28/32% ratios, but Fannie of course doesnt care. Fitch/Moodys/S&P should cut Fannie/Freddie to junk, but, of course they wont because they suffer ZERO conseqences for yes, causing this credit problem. All the mutual fund/pension managers should tell these credit bozos to take their BS reports and burn them. But of course these managers dont give a hoot either because, hey its not their money. And I’m in a really good mood, otherwise I wouldn’t be so polite.

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