Help Save DPA! Please call if you can! - 09/30/08 04:27 PM
 
Action:
The following Member of Congress voted NO for the bailout bill. Congressman Donald Payne of NJ. His phone number in DC is 202-225-8699.
He is a members of the Congressional Black Caucus. Right now a priority list of issues to improve the bailout bill is being compiled by the Congressional Black Caucus to leverage their votes as a block.
We need you to call Congressman Payne NOW.....the more calls the better!
 
Message:
The Congressional Budget Office officially reports today that HR 6694, the House bill that reforms DPA, will make almost $13 million for the federal government. This … (0 comments)

Fannie Mae Eliminates Deteriorating Markets - 09/12/08 12:42 PM
Fannie Mae Eliminates Deteriorating Markets-\
 Today Fannie Mae announced that they will not reduce allowable LTV limits because of declining market areas.
This makes a huge impact to the housing and lending markets, because this LTV restriction forced people to use FHA lending programs if there was a smaller down payment or high LTV on a purchase or refinance.
This is a sign of things to come from the new Fannie Mae and Freddie Mac. Lets see whats next...
… (0 comments)

Chairman Frank and HUD Secretary Preston Negotiate DPA Agreement - 09/12/08 12:30 PM
 
Chairman of the House Financial Services Committee, Barney Frank, has discussed publicly the fact that he has negotiated an agreement with HUD Secretary Steve Preston that will provide for the continuation of privately funded downpayment assistance.
The agreement allows HUD to impose risk-based pricing on downpayment assistance transactions which provides Secretary Preston the fiscal protection he seeks for the FHA insurance fund.
According to an Inman News article published today, Chairman Frank is quoted as saying "The FHA loved the ban on down-payment assistance (but) hated the ban on risk-based pricing," Frank said at Saturday's hearing. "That seemed to me … (0 comments)

 

Tony Donato

Manasquan, NJ

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1st Metropolitan Mortgage

Address: 2517 Highway 35 , Building B, Manasquan , NJ, 08736

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