(MoneyNewsWire.Net, January 15, 2014 ) San Diego, CA – San Diego mortgage news outlets have been reporting on potential rate increases for Freddie Mac and Fannie Mae for 2014 that could hit home owners in a big way come April 1, 2014, but there could be delays due to a leadership change for the Federal Housing Finance Agency.
Shanne Sleder, a San Diego Lender, commented on the proposed changes,
“Increases in guarantee fees and up front risk-based delivery fees have people concerned about affordability, for sure. More than ever, people considering buying a home need to be financially prepared as well as ensure they look good on paper to potential lenders.”
Mr. Sleder is a mortgage broker specializing in programs that include San Diego jumbo loans, conforming loans, and HARP 2.0. He offers free consultations to help clients figure out what loan program is right for them. There are no up-front fees and he is only paid once the transaction closes.
New Director Puts Mortgage Fee Adjustment on Hold
Shortly after San Diego Mortgage News reported on the fee adjustments, word came out that because new leadership is scheduled to be sworn in at the Federal Housing Finance Agency on January 6, 2014 the rate adjustments will be temporarily put on hold while the new director, Mel Watt, reviews the changes. Mr. Watt was concerned that lenders would begin with adjustments early in preparation for paperwork that would be sent to Freddie Mac or Fannie Mae that might reach the April 1 date.
The mortgage industry has expressed concern about these changes and the fact that the costs would be passed onto borrowers. Mr. Sleder commented, “There’s a lot for new home buyers to consider from a financial perspective above and beyond their down payment and closing costs. While lenders want to mitigate risk, it’s wise for the new leadership to closely assess the true impact of significant price increases and how that could impact the already tough housing market.”
Learn more: San Diego Mortgage News: Update: Price Adjustments Affecting Rates in 2014 Could be Delayed!
To request a quote or find out about San Diego mortgage pre-approvals, check out http://www.sandiegomortgagenews.net/quickquote/.
About Shanne Sleder and San Diego Mortgage News
Shanne Sleder of San Diego Mortgage News and The Mortgage Planners works to help customers obtain San Diego home loans. Learn more at http://www.sandiegomortgagenews.net/ or check out the San Diego home buying 101 guide.
Contact Info:
Shanne Sleder, The Mortgage Planners
10636 Scripps Summit Court, Suite 130,
San Diego, California 92131
619-312-0612
http://www.sandiegomortgagenews.net/ or
http://www.camortgageplanners.com/
Shanne Sleder is on Facebook at http://www.facebook.com/pages/Shanne-Sleder-The-Mortgage-Planners/112043658873728.
The Mortgage Planners
Shanne Sleder
619-312-0612
shanne@camortgageplanners.com
Source: EmailWire.Com
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