Lending San Diego was created to educate both current and future San Diego homeowners on mortgage news that matters to them most. The site will discuss the ever-changing mortgage world and focus specifically on San Diego.
Latest San Diego Mortgage News

Private Mortgage Insurance (PMI) is Tax Deductible through 2013!

PMI Tax Deductibility passed as part of the American Taxpayer Relief Act of 2012. This allows mortgage insurance (MI) to be tax deductible for 2012 and 2013 and is good news for San Diego Home Buyers. Just make sure you read the small print … The provision extends the ability to deduct the cost of […]

FHA – Temporary Waiver Extension For Property Flipping

FHA has extended the temporary property flipping waiver announced in 2010 to December 31, 2014. This temporary waiver removes the restriction that prohibits FHA financing of properties being sold within 90 days of seller acquisition. Through the regulatory waiver, FHA encourages investors that specialize in acquiring and renovating properties to renovate foreclosed and abandoned homes, with the objective of: Increasing the […]

California Foreclosure Notices back to 2007 Rate

According to the San Diego Daily Transcript, California Foreclosure Notices fell to a new five year low in the third quarter of 2012.  There were 49,026 default notices on residential properties from July through September.  This was down 31.2 percent from the previous year (71,272) and 63.8 percent from the first quarter of 2009 (135,431). […]

Multiple Credit Checks Now Required for Purchase and Refinance Loans

New Federal funding guidelines require lenders to verify that an applicant’s credit profile did not change while the loan was in underwriting. An additional credit report MUST be re-run immediately before closing escrow. A credit refresh is pulled on every conventional loan file within 10 days of closing (does not apply to government loans). This […]

QE3 and Mortgage Rates

The Federal Open Market Committee announced a major round of asset purchases.  The FOMC recently stated they plan to purchase $40 BILLION worth of Mortgage Backed Securities (MBS) per month in an effort to further drive down interest rates.  In a recent FOMC press statement they stated: “The Committee is concerned that, without further policy […]

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