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fannie mae: Fannie Mae Continues to Tighten Credit Guidelines: Interest Only Loans - 06/08/10 05:39 PM
EDIT:  Quote from Thomas Jefferson, one of our Founding Fathers, in 1802:"I believe that banking institutions are more dangerous to our liberties than standing armies.  If the American people ever allow private banks to control the issue of their  currency, first by inflation, then by deflation, the banks and corporations that will  grow up around the banks will deprive the people of all property - until their children  wake-up homeless on the continent their fathers conquered."
 
My story:
My borrowers bought a beautiful second home here in Tucson at the end of May, and wanted to make the smallest possible … (36 comments)

fannie mae: Why Mortgage Rates Won't/Can't Go Down: Huge GSEs Are Trying to Unload Debt - 08/23/08 11:39 PM
Government Sponsored Entities hold five trillion dollars in Mortgage Backed Securities, and they're all in trouble.  Fannie and Freddy hold only one third of these.  They can no longer move the markets.
Lou Barnes, mortgage broker and columnist, wrote an article this week entitled "Fannie-Freddie deathwatch begins".  It's worth your time.  Fannie and Freddy are dying.  Their demise won't affect the average Joe, but stockholders will be wiped out.  Bond holders won't.
Here's the important part:
If you're waiting for home prices to decline further before making your move, you're looking the wrong way as you step into the street.  You're … (14 comments)

 
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Mike Jones

Tucson, AZ

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SUNSTREET MORTGAGE, LLC

Address: 2840 E Skyline Dr, Suite #230, Tucson, AZ, 85718

Office Phone: (520) 344-6943

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