John Tuggle's (youhomeyouloan) Blog

Fannie Mae reported a $25.2 billion fourth-quarter loss Thursday evening and said its net worth dipped below zero, prompting the troubled mortgage giant to seek a $15.2 billion capital infusion from the Treasury Department.Washington, D.C.-based Fannie said its net worth - the difference between ...

No Negotiation of Preforeclosure Sales Commission Servicing Guide,Effective March 1, 2009, closing of preforeclosure sales may not be conditioned upon a reduction of the total commission to be paid to real estate agents to a level below what wasnegotiated by the listing agent with the borrower, u...

$94B, the amount Treasury auctioned this week. Today's 7 yr note auction went better than was expected, traders fretted about it as it was the first 7 yr note issued since 1993. The large $22B 7-yrs drew 2.748%, with a 2.11 bid-to-cover and a solid indirect bidder take of 38.7%. The cover was fai...

The so-called senior payment—$250 for individuals, $500 for couples The check is almost in the mail. Barely three months from now, in May, retirees and other Social Security beneficiaries will get an extra $250 per person from Uncle Sam, as part of the economic stimulus bill signed into law on Tu...

Average 30-year fixed-rate mortgages were up to 5.07 percent from 4.99 percent. Mortgage interest rates increased slightly for the week ended Feb. 20, driven by the previous week’s heavier-than-normal applications for new and refinanced loans, according to data from the Washington, D.C.-based Mor...

The debate rages on over the details of the housing rescue plan and will continue to do so for years to come. The moral hazard argument is fired up once again but now it is encompassing not only the issue of supporting our financial institutions who created this big mess, but it is very heated ov...

Many Realtors and Clients have inquired about the refundability for the First Time Home Buyer's Tax Credit as revised and enacted into law by the Congress and President Obama last week.. Below is how I see it: (Please keep in mind that anyone seeking this or any other tax credit and/or deduction ...

Bank of America Corp. will rebrand its Countrywide Financial Corp. mortgage unit, a company spokesman confirmed Thursday. Countrywide will be renamed Bank of America Home loans in late April. In addition, according to The Wall Street Journal , Charlotte, N.C.-based BofA (NYSE: BAC) plans to hire ...

As negative as we have been on the economy and the time it will take to recover, I admit this morning that markets are becoming even more concerned. We were expecting the equity markets to have more confidence in the stimulus plan and the mortgage work out plan. While we don't believe either is t...

Below is a list of key elements of the plan outlined Wednesday by President Obama that aims to aid as many as 9 million households in fending off foreclosures: Allows 4 million–5 million homeowners to refinance via government-sponsored mortgage giants Fannie Mae and Freddie Mac. Establishes $75 b...