Minnesota Mortgage Blog - Mortgage and Real Estate News You Can Use

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Mortgage and Lending - Cambria Mortgage - NMLS 274132
Mortgage industry news and insights from a 15+ year industry expert. Mortgage and Real Estate News You Can Use

ARCHIVED BLOG POSTS

2008 

The Mortgage Mess. Who is really to blame? Today, the blame game is being played by everyone. The Democrats and Bill Clinton both pressured and passed legislation starting the entire mess by forcing Fannie Mae to lend to high risk people, and by allowing investment banks to create securities tha...
09/30/2008
If you want to know what this mortgage crisis is all about, who is to blame, and some of the realities, here the a Press Release from the FEDERAL HOUSING FINANCE AGENCY that is pretty good reading! But first - my quick read version: This mess started with deregulation signed in 1999 of depressio...
09/25/2008
While our government is bailing out Wall Street, DPA and H.R. 6694 is looking out for Main Street. The plan being negotiated by the Bush administration and Congressional leaders calls for the government to spend up to $700 billion to bailout Wall Street. Add in the $300 billion from the "Housing...
09/24/2008
FHA bans "BUY and BAIL" strategy FHA just released new rules which specifically address loan transactions in which a borrower is purchasing a NEW primary residence WITHOUT selling their existing resident. Commonly known as "BUY and BAIL", many people have been buying a new (usually cheaper) home...
09/23/2008
Important News - Fannie and Freddie Takeover by the Fed. What it means to YOU As you no doubt know, the federal government yesterday took significant action with regard to Fannie Mae and Freddie Mac. The basic facts are below. The Treasury indicates that they are acting primarily out of concern ...
09/08/2008
FHA's NEW Upfront and Monthly Mortgage Insurance Guidelines To add more confusion to the already confusing market, HUD (U.S. Department of Housing and Urban Development) is AGAIN changing their upfront and monthly mortgage insurance premium guidelines for all NEW FHA case numbers assigned commen...
09/04/2008
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