Fannie Mae will no longer accept back a mortgage that was repurchased by a secondary market investor, government-sponsored enterprise or private institutional investor — even if the lender cured the defect in the loan.

Read more on Housing Wire.

query: what kind of experience leads to a job in mortgage underwriting

In my opinion, a good underwriter can be taught the mortgage rules IF they have the basic smarts and analytical talents.  It's not an entry level position and most often underwriters move up out of mortgage processing.  I have to say, however, that most of the underwriters I hired and trained when I was in mortgage banking did not.  Most were simply excellent performers in a related

A 'barn-find' Bugatti amounting to little more than a loose collection of bits has sold at auction for more than seven times its estimate.
Completely dismantled, incomplete and lacking its engine and body, the 1926 Bugatti Type 38 was expected to fetch only around £9,000 when it went under the hammer at a Bonhams sale in Australia.

Read more in the Daily Telegraph.

The firing prompted Mike Huckabee and Sarah Palin, among others, to call for NPR to be stripped of federal funding.

Ailes later semi-apologized for his comment in a letter to the Anti Defamation League.
"I was of course ad-libbing and should not have chosen that word, but I was angry at the time because of NPR's willingness to censor Juan Williams for not being liberal enough," he wrote, as

query: what if property taxes change after closing, does that impact prorations?

Hi Diane,

I didn't see on your blog where I could post my question, so hope you don't mind me writing to you.

I'm about to close (Nov 30) on a home for the first time, so I've been studying everything I can to try to be prepared at closing, and avoid any surprises, especially financial ones.  I'm wondering about the settlement of pre-payed property taxes.  The seller bought at the height of

Thanks to new federal rules covering closing costs on mortgages, home buyers are experiencing a new type of surprise at closing.

Instead of being faced with higher-than-expected costs -- as homebuyers often were shocked to find prior to this year -- the amount needed to close on a mortgage loan is generally the same or lower than the original estimate, experts say.

That's because lenders and

the day title insurance and Marilyn Monroe met in a Google Alert

"suggests that she not only cooked, but cooked confidently and with flair": Scrawled on stationery with a letterhead from a title insurance company, ...



Read all about it in the NYT.

haven't had a taste of mortgage fraud for awhile.....

So, the exercise of yesterday afternoon was like time travel back to the days of sub-prime.


We received a frantic call from a listing real estate broker concerned that the HUD-1 did not accurately reflect the movement of the money.  Huh?

Turns out that after our closer left the table, the seller had confronted her and demanded that she pay him $800 to cover his loss.  He had been forced to pay