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INDUSTRY UPDATES

Stay up to date with all the happenings in the Real Estate industry.

All sales contracts must be fully executed prior to 12/31/14 (11:59 pm) to be eligible for the 90 day flip waiver. Flip transactions less than 90 days old will not be eligible for FHA mortgages if the purchase contracts are executed after 12/31/14. Should you have any questions , please contact your department manager. Updated Matrices to be published in the Essex Coop...

Although some county limits have increased to $417,000 due to this alignment, some have been reduced to $625,500. In instances where a county loan amount has decreased, VA will honor the higher loan limit on  purchase loan transactions provided the sales contract has been ratified by all parties AND the URLA (loan application) is signed by both the borrowers and the loan officer prior to January 1, 2015. The lender is required to provide VA a...