RECENT BLOG POSTS
  The Obama Administration has revealed details about a restructuring plan to regulate Banks and credit lenders.  These changes include tightened regulations, changes to the Fed's authority to regulate banks, and creating a new agency to be to oversee mortgages and credit cards.   This proposal, ...
06/17/2009
Georgia republican senator Johnny Isakson, introduced S. 1230, the Homebuyer Tax Credit Act of 2009. This bill would increase the maximum amount of the credit from $8,000 to $15,000 and expand the current tax credit to apply to ALL home buyers (not just first time home buyers.  This bill would el...
06/16/2009
Mortgage Backed Securities are rallying this morning.  As a matter of fact trading of MBS has been favorable for the last three days.  Don't look for 4.5% interest rates though.  The market is likely to move this week based on housing starts and building permits out tomorrow, foreign country supp...
06/15/2009
U.S. Rep. Howard Coble introduced legislation this week to help the housing market maintain the momentum that has emerged from buyers in recent months. The Greensboro Republican has offered a bill that would extend the credit through 2010, open it to all home buyers and eliminate income-qualifyin...
06/12/2009
The state of Arizona received $20 million dollars - part of the Government's National Stabilization Program (NSP) to help stabilize home values thru the sale of foreclosed homes.  This program may help you if you are considering a home purchase over the summer.   This money is currently available...
06/10/2009
How are your credit card balances looking?  I was listening to Suze Orman in an interview on CNBC talk about the economy and preparing for the worst.  Suze recomended making minimum payments on credit cards to build a nest egg in case of a job loss or inabilty to work.  This is different from her...
06/09/2009
Most definately!  The Fed's borrowing has finally caught up with them.  The yield on the 10 Year Note has gone from 2.14% to 3.85% over the last four months.   Interest Rates on Mortgages have increased by almost a full point in the same time.  The increase in rates can increase a borrower's mort...
06/08/2009
This is not your Grandma's housing market, that's for sure.  How many of you have represented a buyer with a LSR issued by a lender that fell apart and killed your sale?  I sat on Capital Markets desks for the first 25 years of my lender career.  We are now all living with risk management polici...
06/07/2009
Clarification on Short Sales I have had a few calls this week from realtors asking about the availabity of housing finance after a client has completed a "short sale" on a previous mortgage.  A Short Sale is usually referenced on the credit report as "settled for less than full amount owed" or si...
06/05/2009
Congress is currently considering options for the structure of FannieMae and FreddieMac to prevent a repeat of the last two years' housing market collapse.  It is very likely they will be set up as a quasi-public status.  FannieMae was initially established in 1938 to purchase FHA and VA loans.  ...
06/04/2009
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Julie Messina

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