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	<title>Mortgage Blog</title>
	<atom:link href="http://www.choicefinance.net/blog/feed/" rel="self" type="application/rss+xml" />
	<link>http://www.choicefinance.net/blog</link>
	<description>Choice Finance®</description>
	<pubDate>Mon, 29 Jun 2009 02:55:35 +0000</pubDate>
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	<language>en</language>
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			<item>
		<title>Increased loan limits- Reverse mortgages</title>
		<link>http://www.choicefinance.net/blog/2009/06/28/increased-loan-limits-reverse-mortgages/</link>
		<comments>http://www.choicefinance.net/blog/2009/06/28/increased-loan-limits-reverse-mortgages/#comments</comments>
		<pubDate>Mon, 29 Jun 2009 02:48:28 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
		
		<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=344</guid>
		<description><![CDATA[As many housing market experts had predicted, with the growing number of Americans reaching retirement age, reverse mortgages are gaining popularity.  The FHA approved over 118,000 Home Equity Conversion
Mortgages, the most widely used reverse mortgage product, in 2008.
The reverse mortgage gets its name from the fact that the stream of payments is reversed.   Instead of [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/06/28/increased-loan-limits-reverse-mortgages/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Reverse mortgage to buy a home &#124; md va dc</title>
		<link>http://www.choicefinance.net/blog/2009/06/27/reverse-mortgage-to-buy-a-home-md-va-dc/</link>
		<comments>http://www.choicefinance.net/blog/2009/06/27/reverse-mortgage-to-buy-a-home-md-va-dc/#comments</comments>
		<pubDate>Sat, 27 Jun 2009 11:40:19 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
		
		<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=332</guid>
		<description><![CDATA[The newest wrinkle in reverse mortgages is that they can now be used to purchase a principal residence under the FHA Home Equity Conversion Mortgage (HECM) for Purchase program.
How does HECM for Purchase work?
-The purchaser(s) must be 62 or older. 
-The appraised value of the home (or contract price if it is less) is subjected to [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/06/27/reverse-mortgage-to-buy-a-home-md-va-dc/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Making Home Affordable &#124; 2nd lien holders</title>
		<link>http://www.choicefinance.net/blog/2009/06/08/making-home-affordable-2nd-lien-holders/</link>
		<comments>http://www.choicefinance.net/blog/2009/06/08/making-home-affordable-2nd-lien-holders/#comments</comments>
		<pubDate>Mon, 08 Jun 2009 21:27:00 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
		
		<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=328</guid>
		<description><![CDATA[The Treasury Department has announced an expansion of its Making Home Affordable Program aimed at encouraging loan modifications for struggling homeowners with second liens.  The original version of the program did not address situations where homeowners had second liens, such as where a purchaser used a piggyback second mortgage to reduce the need for a [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/06/08/making-home-affordable-2nd-lien-holders/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Condo financing &#124; maryland, virginia, d.c.</title>
		<link>http://www.choicefinance.net/blog/2009/06/04/condo-financing-maryland-virginia-dc/</link>
		<comments>http://www.choicefinance.net/blog/2009/06/04/condo-financing-maryland-virginia-dc/#comments</comments>
		<pubDate>Thu, 04 Jun 2009 18:59:39 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
		
		<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=316</guid>
		<description><![CDATA[It might have been better to have titled this article &#8220;Condos for Cash,&#8221; since it seems that all-cash might be the only guaranteed way to purchase a condo today.  Simply put, if you are interested in buying a condominium in today&#8217;s market, be prepared to face some substantial financial hurdles. 
The problem now lies with the [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/06/04/condo-financing-maryland-virginia-dc/feed/</wfw:commentRss>
		</item>
		<item>
		<title>New appraisal rules STINK &#124; hurts borrowers</title>
		<link>http://www.choicefinance.net/blog/2009/06/03/new-appraisal-rules-stink-hurts-borrowers/</link>
		<comments>http://www.choicefinance.net/blog/2009/06/03/new-appraisal-rules-stink-hurts-borrowers/#comments</comments>
		<pubDate>Wed, 03 Jun 2009 18:53:43 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
		
		<category><![CDATA[2) General]]></category>

		<category><![CDATA[HVCC appraisal rules]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=299</guid>
		<description><![CDATA[There&#8217;s a new sheriff in appraisal town and the name is HVCC.  Home Valuation Code of Conduct.
The HVCC,which was implemented May 1 by Fannie Mae and Freddie Mac, was meant to make appraisals less susceptible to undue influence by loan officers, real estate agents and others, and thus more accurate and reliable
Whether the HVCC will, [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/06/03/new-appraisal-rules-stink-hurts-borrowers/feed/</wfw:commentRss>
		</item>
		<item>
		<title>FHA mortgage rates today &#124; Maryland Virginia DC</title>
		<link>http://www.choicefinance.net/blog/2009/05/20/fha-mortgage-rates-today-maryland-virginia-dc/</link>
		<comments>http://www.choicefinance.net/blog/2009/05/20/fha-mortgage-rates-today-maryland-virginia-dc/#comments</comments>
		<pubDate>Wed, 20 May 2009 16:05:59 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
		
		<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=292</guid>
		<description><![CDATA[Wednesday, May 20th, 2009
Go directly to rate page for all posted FHA rates
FHA rates







Lender
Rate
Points In $
Lender Fees
Apr


Choice Finance® 5 yr arm
3.750%
$0
$545
3.891%


Choice Finance® fixed
4.500%
$3200
$545
4.778%


Choice Finance® fixed
4.750%
$1500
$545
4.955%


Choice Finance® fixed
4.875%
$0
$545
5.080%


Choice Finance® streamline
5.000%
$0
$545
5.256%


Navy Federal Credit Union
4.750%
$5250
not listed
5.491%


Navy Federal Credit Union
5.000%
$3000
not listed
5.678%


Quicken Loans
4.750%
$5250
not listed
4.952%


Wells Fargo
5.000%
$3000
not listed
5.645%


SunTrust
4.875%
$3750
not listed
5.449%


ditech
does not offer
&#8211;
&#8211;
&#8211;



 
 
 



Choice Finance® is committed to providing you the lowest rates and lowest [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/05/20/fha-mortgage-rates-today-maryland-virginia-dc/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Today&#8217;s mortgage rates &#124; Maryland Virginia DC</title>
		<link>http://www.choicefinance.net/blog/2009/05/20/todays-mortgage-rates-maryland-virginia-dc/</link>
		<comments>http://www.choicefinance.net/blog/2009/05/20/todays-mortgage-rates-maryland-virginia-dc/#comments</comments>
		<pubDate>Wed, 20 May 2009 15:28:40 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
		
		<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=287</guid>
		<description><![CDATA[Wednesday, May 20th, 2009
Go directly to rate page for all posted rates
Lender  &#8211;  rate  &#8211;  points in $  &#8211;  fees &#8211;  apr
30 year conforming fixed



Choice Finance®
4.500%
$3200
$545
4.716%


Choice Finance®
4.625%
$2400
$545
4.819%


Choice Finance®
4.750%
$1200
$545
4.909%


Choice Finance®
4.875%
$0
$545
4.978%


Navy Federal Credit Union
4.750%
$5625
not listed
4.915%


Navy Federal Credit Union
4.875%
$3750
not listed
4.985%


Quicken Loans
4.500%
$6000
not listed
4.721%


ditech
4.625%
$4800
$1450
4.801%


Citimortgage
5.250%
$375
$1040
5.304%


SunTrust Mortgage
4.750%
$3375
not listed
4.880%


Bank of America
5.000%
$3375
$819
5.172%


Wells Fargo
4.750%
$3000
not listed
4.960%



Choice Finance® is committed to providing you the lowest rates and [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/05/20/todays-mortgage-rates-maryland-virginia-dc/feed/</wfw:commentRss>
		</item>
		<item>
		<title>HVCC rules, How have they affected you?</title>
		<link>http://www.choicefinance.net/blog/2009/05/12/272/</link>
		<comments>http://www.choicefinance.net/blog/2009/05/12/272/#comments</comments>
		<pubDate>Tue, 12 May 2009 21:13:40 +0000</pubDate>
		<dc:creator>BrentMendelson</dc:creator>
		
		<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/2009/05/12/272/</guid>
		<description><![CDATA[
 Well it&#8217;s been a few weeks since HVCC went into place. In order of importance to me would be any stories from affected homeowners, loan officers or appraisers who have complaints against the new system. It&#8217;s my humble opinion that this has been and will continue to be a complete disaster for the homeowner. We [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/05/12/272/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Home Affordable &amp; Relief Refinance programs</title>
		<link>http://www.choicefinance.net/blog/2009/05/12/home-affordable-relief-refinance-programs/</link>
		<comments>http://www.choicefinance.net/blog/2009/05/12/home-affordable-relief-refinance-programs/#comments</comments>
		<pubDate>Tue, 12 May 2009 14:25:04 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
		
		<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=266</guid>
		<description><![CDATA[The Fed&#8217;s program to buy Fannie Mae and Freddie Mac securities has helped to push rates for 30-year fixed conventional mortgages down to below 5%, a reported 4.82% average in mid-April.  Due to the combination of low mortgage rates and the decline in home prices, America&#8217;s houses are at record levels of affordability.
The National Association [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/05/12/home-affordable-relief-refinance-programs/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Credit scores &#124; mortgage approval</title>
		<link>http://www.choicefinance.net/blog/2009/05/08/credit-scores-mortgage-approval/</link>
		<comments>http://www.choicefinance.net/blog/2009/05/08/credit-scores-mortgage-approval/#comments</comments>
		<pubDate>Fri, 08 May 2009 20:46:06 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
		
		<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=261</guid>
		<description><![CDATA[ 
Credit scores are arrived at by inputting information about your credit history and behavior into a mathematical model. Those based on the model developed by Fair Isaac and Company are called FICO scores and are used by most mortgage lenders. 
Lenders are looking for ways to weed out risky borrowers, so good credit scores are as [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/05/08/credit-scores-mortgage-approval/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Qualifying priorities- income, credit, downpayment</title>
		<link>http://www.choicefinance.net/blog/2009/05/06/qualifying-priorities-income-credit-downpayment/</link>
		<comments>http://www.choicefinance.net/blog/2009/05/06/qualifying-priorities-income-credit-downpayment/#comments</comments>
		<pubDate>Wed, 06 May 2009 20:42:52 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
		
		<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=242</guid>
		<description><![CDATA[It wasn&#8217;t so long ago that we could write about how easy it was to get financing to purchase or refinance a home.  Lenders were simply looking to you for the &#8220;Holy Trinity&#8221; of income, credit and reserves/assets.  The good news is that Calculating income used to be so simple. If you were a salaried employee, [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/05/06/qualifying-priorities-income-credit-downpayment/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Mortgage financing 2009 &#124; md dc va</title>
		<link>http://www.choicefinance.net/blog/2009/05/05/mortgage-financing-2009-md-dc-va/</link>
		<comments>http://www.choicefinance.net/blog/2009/05/05/mortgage-financing-2009-md-dc-va/#comments</comments>
		<pubDate>Tue, 05 May 2009 14:35:56 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
		
		<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=229</guid>
		<description><![CDATA[A plain old 30- or 15-year fixed-rate mortgage, at historic lows, is the choice for almost every homebuyer or refinancer these days. Fewer than 2% of mortgage applications are for adjustable-rate mortgages, according to the Mortgage Bankers Association. 
Much less to worry about:  no sweating the complex terms of an adjustable rate mortgage.  Of course, you [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/05/05/mortgage-financing-2009-md-dc-va/feed/</wfw:commentRss>
		</item>
		<item>
		<title>new refinance guidelines &#124; fannie, freddie</title>
		<link>http://www.choicefinance.net/blog/2009/04/21/new-refinance-guidelines-105-ltv/</link>
		<comments>http://www.choicefinance.net/blog/2009/04/21/new-refinance-guidelines-105-ltv/#comments</comments>
		<pubDate>Tue, 21 Apr 2009 18:32:37 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
		
		<category><![CDATA[1) Questions for Loan Officer]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=215</guid>
		<description><![CDATA[Homeowners who have non-Fannie or Freddie related mortgages should contact their loan servicer’s loss mitigation department to see if special programs might be available at that institution.
With mortgage rates at record low levels, February saw a huge jump in refinances, but there should be more to come.  Fannie Mae said its refi business was three [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/04/21/new-refinance-guidelines-105-ltv/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Jumbo mortgage options MD DC VA</title>
		<link>http://www.choicefinance.net/blog/2009/04/14/jumbo-mortgage-options-md-dc-va/</link>
		<comments>http://www.choicefinance.net/blog/2009/04/14/jumbo-mortgage-options-md-dc-va/#comments</comments>
		<pubDate>Tue, 14 Apr 2009 22:55:21 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
		
		<category><![CDATA[2) General]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/?p=211</guid>
		<description><![CDATA[What are my jumbo loan options?
Maryland - D.C. - Virginia - Delaware
Mortgage rates in March remained close to the record lows established in January.  At just under 5% for 30-year fixed-rate conventional mortgage, they are a powerful attraction as the spring home selling season gets underway. 
While rates for conforming mortgages have been excellent for some [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/04/14/jumbo-mortgage-options-md-dc-va/feed/</wfw:commentRss>
		</item>
		<item>
		<title>Should I pay down my mortgage?</title>
		<link>http://www.choicefinance.net/blog/2009/03/13/should-i-pay-down-my-mortgage/</link>
		<comments>http://www.choicefinance.net/blog/2009/03/13/should-i-pay-down-my-mortgage/#comments</comments>
		<pubDate>Fri, 13 Mar 2009 17:28:37 +0000</pubDate>
		<dc:creator>loan officer</dc:creator>
		
		<category><![CDATA[1) Questions for Loan Officer]]></category>

		<guid isPermaLink="false">http://www.choicefinance.net/blog/2009/03/13/should-i-pay-down-my-mortgage/</guid>
		<description><![CDATA[Should I pay down my mortgage?
In the old days (much of the last century), many people stayed in their homes for 30+ years, long enough to pay off their mortgages and live mortgage-free ever after.  In the more recent past, mortgages became transient instruments, remaining in existence barely longer than a subatomic particle, long enough [...]]]></description>
		<wfw:commentRss>http://www.choicefinance.net/blog/2009/03/13/should-i-pay-down-my-mortgage/feed/</wfw:commentRss>
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