August 27, 2010
This summer, Fannie Mae instructed lenders that they should adopt a new policy that would include a second review of an applicant’s credit report just prior to closing. Why? The answer is simple: the credit profile of a borrower may have changed between the time of the initial review of the credit report and the [...]
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June 23, 2010
Friends of mine called me to share their latest adventure trying to buy a house in the Washington, DC area. At the inspection of a house they had agreed to pay nearly $1.2M for they discovered that the toilet in the basement wasn’t connected to the plumbing in the house! The toilet turned out to [...]
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