Fannie Mae's shares are still falling, and they in turn tightening their lending requirements all together.  One change is to get rid of all loans <80%LTV and no FICO's below 620.  This will mean a continued increase in volume for FHA loans that require a 620 FICO but only 3.5% down.  If you are selling a house that is in good condition, a good option is USDA Guaranteed.  No money down, and the income limit for a family of four is $73,600.  

Condo approvals are available for Fannie and Freddie directly through MetLife.  We will have direct approvals for FHA as well by January 1.  There is no cost for my assistance in getting your project approved, and once all of the paperwork is in and accurate, we can have that approval to you for your borrowers within 72 hours.    If you have questions about the phasing, declarations, HOA bylaws or budgets, please give me a call and I will be glad to assist you.  

http://www.mortgagenewsdaily.com/12012009_oct_pending_home_sales.asp

Mortgage Rates are at an amazingly low level right now:  
       
        30 year fixed conventional rate for purchase:          4.625%
        FHA/VA/USDA purchase loans:                        4.875%
        20% down payment Jumbo Loans start at:         4.625% up to 6.25%

These rates will be on the rise over the next few days with the current ceiling on the Mortgage Backed Securities being pushed by the hour.  

This information provided courtesy Kris Basset @ Met life: 

Chris Bassett
Relationship Manager 212 N First Ave Suite 103 Sandpoint, ID 83864	Office: (208)265-8981 Cell: (208)290-0305 Fax: (208)265-8740
cbassett@metlife.com http://www.cjbassett.com