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Mortgage and Lending - Franklin Advantage Inc. - NMLS Lic. # 343946
Forum Speculation is fueling the fear on Wall Street that Wachovia will be the next to go down.  Refer to my post yesterday about Washington Mutual. Looks like we are in for a further bumpy ride next week.  For information on Wachovia, please refer to the article at Bloomberg below:
Forum Today was a day when politicians spent most of the day with their typical infighting rather working on a solution to the financial crisis.  The stock market rallied for a good part of the day on news that a compromise had been reached.  Late in the afternoon, it was announced that an agreem...
  Forum HUD recently issued Mortgagee Letter 2008-25 in response to " Unscrupulous" practices regarding the conversion of an existing home to a rental. Recently, Fannie Mae and Freddie Mac changed their guidelines where any borrower applying for a new mortgage where they were retaining their old ...
Forum The last two weeks has been history in the making where corporations, banks, and the like have in many cases gone down almost overnight based on public confidence which in turn affects the Wall Street market.  After meeting with President Bush today, the White House has announced that both ...
There has been alot of speculation recently about many of the down payment assistance programs, commonly referred to DAP programs.  The hightened coverage of foreclosure figures has prompted HUD and several politicians to get on the bandwagon about these programs. Regardless of what side of the f...
Forum I read a few posts recently where some agents have expressed some concern about whether their lenders know enough about FHA to be trustworthy. Any condo that is available for FHA financing must appear on FHA's own Approved List. Attached is a very simple way for you to look up any condo on ...
AR Forum I am not going to sit here and pretend that I have all the answers.  Yet, in my 38 years of experience, the last week or so in the mortgage arena has been sort of like the " Wild West ". I'd also like to think that those of you who closely work with your preferred lender would be getting...
The U.S. Senate Banking Committee's panel's chairman, Christopher Dodd, and top Republican Richard Shelby reached an agreement that would help to stem foreclosures.  The Bill is intended to stabilize current foreclosures that have helped to create the housing mess that we are facing now. While a...
  l             Today, Fannie Mae announced that they were scrapping higher down payment requirements that they adopted late last year in favor of reestablishing former requirements. AP announced late in the day that they had received information in Washington relative to the move. Consumers, len...
 With 2007 behind us, the New Year brings anticipation of things to come.  This will make my 38th year in the business, since I began my banking career in 1970.  My best wishes to everyone.If rates are an indication, rates are almost at historic lows not seen in three to four years.   The FNMA 30...

Wayne L.Brown

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