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Financial Freedom Discusses reasons for the new Margins

I just came back from a financial freedom "Road Show" in Long island, New York. They discussed why margins are going up.

They said that they sell all oftheir HECM's to Fannie Mae and Fannie just informed them that instead of paying them something for the HECM 150 (1.5% margin) they would now be paying them less than par and that means that they would be LOSING money on every loan they closed.

This probably means that margins will be higher until the whole mortgage/credit/housing crisis ends.

Posted by Michael Pinter on 08/15/2008 10:22 AM

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reverse mortgage, reverse mortgage information, housing crisis

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Michael Pinter

Brooklyn, NY

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First Meridian Mortgage/Trump Financial

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