With the FASB’s plan on revising and/or limiting mark-to-market accounting rules coming early-April, we will also see increased freedom for markets to sort through the pricing issues that have been preventing any solution to getting these illiquid assets off bank balance sheets so they can extend new credit to businesses and consumers. … Conforming ($200,000 – $417,000) – 1 POINT 30 Year: 4.625%   (5.09% APR) FHA 30 Year: 5.0% (5.21% APR) 15 Year: 4.625%   (4.75% APR) 5/1 ARM: 4.875%   (5.09% APR) Super-Conforming ($417,001 to $625,500 cap by county) – 1 POINT 30 Year: 5.125% (5.2% APR) FHA 30 Year: 5.0% (5.21% APR) Jumbo ($625,500 – $3,500,000) – 1 POINT 30 Year: 6.625 %   (6.83% APR) 10/1 ARM: 6.25%   (6.39% APR) 5/1 ARM: 5.375 %   (5.52% APR) Scenarios assume full doc pricing on purchase or rate/term refi (but not cash-out refi) loans for borrower with 720 FICO score or greater, at least 20% equity (unless FHA), and 6-12 months reserves left over after close (retirement assets counted at 70% of value for reserves).

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PRE-FORECLOSURE: This refers to the period after the lender has filed the original complaint and filed a lis pendens on the property indicating the intent to foreclose. … FORECLOSURE is the legal process in which a bank or lender sells or repossesses a parcel of real property after the owner has failed to comply with an agreement between the lender and borrower.

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