The new World in the Liquidity market!

This man knows what he is talking about in the lending market!

Lenny Holler
Vice President
Senior Home Mortgage Consultant
DE Capital Mortgage, LLC

205 E 42nd Street, 6th Floor
New York, NY 10017
(212) 692-8468 Tel
(866) 972-6982 Fax
(646) 256-7138 Cell
lenny.holler@decapitalmortgage.com

The number of changes to the guidelines are innumerable. Here is just a small sample of some things that have affected our market:

1. Tougher rules on fidelity bond insurance (employee dishonesty). Mostly 3 months of the previous years maintenance with a managing agent rider.

2. Maximum debt-to income ratio of 45%.

3. Higher presale requirement for condos.

4. Homeowners insurance requirement (HO-6) on condos to cover the inside of the unit (including personal property and liability) of at least 20% of the appraised value.

5. On condos the homeowner's association must have 10% of budgeted income for replacement reserves.

6. Additional risk based pricing hits for higher loan-to values at every 20 point break in credit scores.

7. Additional fees for condos above 75% loan-to-value.