governemnt: Bail out issue... - 12/03/08 05:27 AM
I was watching a special on WW1last night and it kind of triggered me to think about this whole financial mess were in...I am not an economist but I have definitely been paying attention.  What caught my eye specifically in the special about WW1was the type of economy Germany had after the first war when they were forced to pay6 back reparations to the Allied powers for the cost of the war.  Well the result was Germany did not have the funds so in order to comply they just printed money for the reparations and handed it over the the Allied powers...While … (0 comments)

governemnt: Rates are going up... - 10/27/08 09:32 AM
FHA @ 7% today
30 YR Fixed just priced one out @ 6.75 and the credit was excellent
A little forwarning trying and warm your clients up to the idea that rates are going to get worse and will continue to for some unkown amount of time.  This idea of low rates spurring growth is way to late in the game to make a difference so the long postiton on rates is that once we realize growth will no longer be fueled by low rates, they will begin to rise as the market starts to stabilize the right way...Rewarding risk with return … (7 comments)

governemnt: From the report on the fianncial condition of the US Governemnt - 10/23/08 08:56 AM
Unsustainable Debt

As noted earlier, the Government must borrow from the public to finance any gaps between expenditures and
revenues. Increased borrowing leads to higher debt service (net interest) which in turn can make it more difficult to
balance expenditures and revenues in the future. Chart J shows that by 2030, public debt is projected to rise to 68
percent of GDP, surpassing the non-wartime peak of 49 percent in 1993. By 2040, public debt is projected to be 128
percent of GDP, well above the
World War II peak of 109 percent,
and by 2080, debt is projected to
… (3 comments)

governemnt: OT - some politics - 10/02/08 06:32 AM
Here's an interesting fact:Do you Remember 1987? Thought you might be interested in this forgotten bit of information........It was 1987! At a lecture the other day they were playing an old news video of Lt.Col. Oliver North testifying at the Iran-Contra hearings during the Reagan Administration.There was Ollie in front of God and country getting the third degree, but what he said was stunning! He was being drilled by a senator; 'Did you not recently spend close to $60,000 for a home security system?'Ollie replied, 'Yes, I did,Sir.'The senator continued, trying to get a laugh out of the audience, 'Isn't that … (2 comments)

governemnt: DPA - alive again...? - 10/01/08 07:52 AM
For Immediate Release: October 1, 2008CONTACT: Henry Fawell (410) 545-5830CBO report: downpayment assistance could generatenew revenue for U.S. TreasuryAmeriDream urges Congress to preserve DPA to stabilize housing marketGAITHERSBURG, MD - Downpayment assistance programs that expire today could generate sorely-needed revenues for the federal government if Congress preserves them by passing H.R. 6694, according to a new report from the Congressional Budget Office (CBO). Downpayment assistance programs funded in part by sellers (DPA) were eliminated, effective today, as part of the housing stimulus package signed into law in July. "At a time when Congress considers saving Wall Street, we must not lose … (1 comments)

governemnt: Hope for Home Owners...New way to bail out poeple who should not be bailed out! - 09/30/08 08:36 AM
HOPE FOR HOMEOWNERS1) Purpose- The purpose of the HOPE for Homeowners Program is--a) to create an FHA program, participation in which is voluntary on the part of homeowners and existing loan holders to insure refinanced loans for distressed borrowers to support long-term, sustainable homeownership;b) to allow homeowners to avoid foreclosure by reducing the principle balance outstanding, and interest rate charged, on their mortgages;c) to help stabilize and provide confidence in mortgage markets by bringing transparency to the value of assets based on mortgage assets;d) to target mortgage assistance under this section to homeowners for their principalresidence;` 2) Requirements of Insured Mortgages- … (4 comments)

governemnt: The future of lending... - 09/30/08 08:20 AM
Many wholesale lenders as well as brokers are likely tobe closing down before the end of the year and into 2009as the Great Credit Crunch continues and the recession deepens.Futher than that, the falling home prices and furthur declingvalues in California in particular will leave very little roomfor undercapitalized wholesale lenders and high fixed costs brokers.Only the largest national lenders like Wells, Countrywide Bank,HSBC, Citi, Flagstar, B of A, etc. will survive as they do havetheir own in-house portfolio products that give them a betterprofit margin than selling Agency products. As you can see,most brokers prefer to work with these tier-one … (0 comments)

governemnt: MBOH - 09/30/08 08:11 AM
Montana Board of Housing - A great product to get low income and rural properties sold.  I am taking the training and the program looks to be a great resource for the Montana real estate market.  FNMA is the only GOE that is going to take a MBOH loan.  The rates are historically a bit lower than conventional loans.  I look forward to learning more and if any one else is interested be sure to let me know and I will answer any questions about the program.
… (0 comments)

governemnt: Spell Checked Version - Sorry forgot to do it... - 09/30/08 05:24 AM
I believe that getting front of the financial crisis will only drag the Federal Government further into the red.  Historically the government is a reactive measure to combat private sector issues when the free market was unable to solve the problem.  I fear that this time we are only stepping out in front of a speeding train that is eventually going to wreck.  Accept this time the Federal Government is a passenger instead of a on looker of the financial tragedy.  The plan can stop the inevitable so just let it happen rather than delay it until the winter or early … (0 comments)

governemnt: Just so everybody knows no longer GSE's... - 09/09/08 06:09 AM
The proper name is GOE...This will be the new acronym for the two with them now being Governemnt Owned Entities...
… (0 comments)

governemnt: Monday...Month end is here... - 07/28/08 04:22 AM
Well the end of the month is upon us...  Hopefully you had a great month.  Rates are holding at the 6.625%, they have been hovering between 6.625% & 6.75% for about a week and a half.  The governemnt has been doing a great job of messing with the housing market and it looks like they still have some mucking around to do... THere latest ploy is to eliminate the Down Payment Assistance programs offered by two companies.  Ecentially if you local programs exsist for DPA you should be fine the two major organizations that will be effected are Niehamia and AmeriDream I … (0 comments)