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Great News on Wallstreet with Non-Conforming Loans!

wall street

We got some great news yesterday afternoon. Wallstreet is now purchasing Non-Conforming Loans again! That must put smile on the faces of lenders,mortgage brokers, loan officers, real estate agents and homeowners across the country! Expect for pricing to get much better on short-term 2,3,5,7 and 10 year adjustables, fully amortized and interest only next week!

As of Friday morning, most non-conforming loans had little to no rebate pricing on any lender's rate sheet! That should be gone soon and this will free up more of the "liquidity" issues that lenders are having across the United States. Afterall, the old saying, "It takes money to make money" still holds true!

Have a great weekend everyone!

Scott Gormley
Broker/Owner
Oak Valley Mortgage
2006 Chico Assoc. of Realtors Affiliate Chairman
Direct: 530.592.8362
Fax: 530.267.5555
Website: http://www.CALoan.com

Blog: http://www.carealestateblog.com/

"You find the perfect home, we'll find the perfect loan!"

Posted by Scott Gormley on 09/08/2007 09:17 AM

Comments (5)

wall street, nonconforming loans, liquidity problems, california home loans, california real estate loans, california mortgage

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5 Comments on Great News on Wallstreet with Non-Conforming Loans!

SEP

2007

Scott, It is so nice to see a positve post about the industry.

I agree with you Matthew :)

Scott

SEP

2007

Scott...that is good news.

We haven't talked for a while. I'm going to subscribe so I remember to keep in contact. Take care!

SEP

2007

Scott thanks for sharing this is great news and its a sign thats things are getting better. Better news is on its way :)

Eddy

Thanks for sharing Scott. I knew that something was going on simply because I've started getting stated income, subprime and Jumbo Flyers from my reps. There has been a marked increase this week - almost like they have been waiting for the floodgates to open again!

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