FHA premium JUMPs to 2.25% ASAP get a case number

It appears in response to this week's Federal Grand Inquistion into how we are to make Fannie Freddie and FHA independant companies FHA is boosting their premiums for Mortgage insurance to 2.25% vs. 1.75%. The only way to avoid this jump in costs is to have a house under contract and order a case number today.

Len Brutacao put a good word in Heaven for us.

I saw the lupine and poppies in their glory on highway 241. I say a prayer for the Brutacao
family. Cheers to thier great father, leader and visionary who now is in Heaven. The rosary
kast night was one of many demonstrations of how you changed the world.

Fannie Mae program to sell Foreclosures unveiled

FANNIE MAE HOME PATH May 27th


• Up to 97% financing
• No appraisal required (they have it)
• No mortgage insurance (MI) is required !!!– although Fannie Mae-required price adjusters will apply
• Flexible mortgage terms – including fixed-rate, ARMs or the Interest-Only payment feature
• Variety of property types allowed including previously approved condominium projects
• Credit scores as low as 660 with 80% LTV

www.homepath.com lookup your target location for listings


Interest Rates up a little this morning
Stock market slips after a week of giddy gains, but Americans do
not run in to buy equities.

I believe some stocks are buys in pull back days- Apple Sealy
light durable goods and things teens buy

SET FANNIE AND FREDDIE FREE?

Let them eat cake.



Interest rates unchanged, appear flat but….



Current Price of FNMA 4.5% Bond

1. Mortgage Bonds are starting the day near unchanged

2. Existing Home Sales for February were reported at 5.02M in line with expectations.

3. Inventory numbers up- sales swelled to month level from the 7.8 month reading in January,

4. The highest inventory level since August's 2010 9.2

5. The government's First Time Home Buyer Tax Credit ends soon

6. The only fix for housing is a stronger labor market.

7. Hearings begin today on the potential reshaping of the mortgage market Will Fannie Mae and Freddie Mac survive?



Someone please tell me where Wall Street really exists?

Wall Street is not in New York it is an international problem.



The US is not Married to Fannie or Freddie



. Barney Frank sent fear through mortgage and banking world with implications that the US guarantee of Fannie (FNM) and Freddie (FRE) isn't as ongoing and committed as has been assumed. Treasury Secretary Timothy Geithner is in the hot seat in front of the House of Representatives Financial Services

Committee today.

18 months ago $127Billion was given to Freddie and Fannie and they are still not making any money.

Mr. Geithner has no easy fix. Our bulky cumbersome and wasteful current system is all we have. If the US stops supporting Fannie Freddie and FHA, no one in America will be able to get a loan.



Republicans want the housing finance system privatized, but private capital/ pension funds/ foreign funds/ or some new investors (reinvent the old savings and loan concept) still are not buying. So who would be the primary source mortgage financing? Winding down Fannie Mae and Freddie Mac over a 4 to 5 year period is a plan without any solution.



Today Fannie and Freddie, along with the FHA, back over 90% of all home loans. So how can they be run like real business?



Fannie Mae pulled cash out of foreign banks in past two days to appear to make moves to be independent.