Monthly Archives: June 2011

Fannie Mae Buyer Incentive – Closing Cost Assistance

Please view the HomePath website here to learn more about the current buyer incentives – http://www.homepath.com/incentive/index.html

HomePath® Buyer Incentive: June 14 – October 31

Fannie Mae is currently offering buyers up to 3.5% in closing cost assistance through October 31, 2011. A $1,200 selling agent bonus is also available to selling agents who close on an owner occupant property and meet all eligibility requirements and terms and conditions. Continue reading

3 big banks lose mortgage modification incentives

By Alejandro Lazo, Los Angeles Times

June 10, 2011

The Obama administration has punished three of the nation’s largest banks, judging them unworthy of receiving financial incentives through its signature foreclosure relief program until they improve their practices.Bank of America Corp.JPMorgan Chase & Co. and Wells Fargo & Co. were found to be in need of “substantial improvement” under the $75-billion Home Affordable Modification Program, officials said. It was the first time that the administration had taken any major punitive action against the banks in its program, which has been criticized by consumer advocates and Republicans as ineffective and falling short of its goals. Continue reading