Well fellow agents and mortgage professionals the news is out. Fannie Mae and Freddie Mac have just made their first change to their new LLPA (Loan Level Price Adjustments). Imagine, only 60 days with the new pricing hits and they are changing them already. It seems that having a 720 credit score is not high enough. You now need over 739 score to get the very best price. Come on are the clients with over a 720 really giving them problems or is this just another way to get more money? I already know the answer. The government really can't think we are that stupid. When are they going to step in and take Fannie and Freddie over? When are they going to increase rates to where they should be instead of having us sell their extra fees to our borrowers. Oh ya, what did they call that when the brokers did it, gouging.... The mortgage professionals that have been in the game for many years can whether this storm, even after everyone bashes us in the head for many years about how terrible we ALL were. We all know that there were a few bad apples in our bunch, but let's remember who let them in. Yes, the banks allowed these people to get licenses and become brokers. And yes the banks are governed by our government. The problem, oh yes the government. Let's wake up and start listening to the soldiers in the fields. The professional mortgage bankers/brokers and real estate agents. This new policy will further reduce the already staggering problem of foreclosures. The less people in the market, the less houses will sell, which will cause more inventory, which will cause properties prices to go lower, that will cause more people to justify walking away, which will increase more foreclosures, and so on.... It's pretty simple. Can we blame them for walking away from their homes when the government keeps protecting their personal interests in banks and wall street firms, of which they have an equity stake in and continue to bail out of problems. Or will they continue to make those homeowners feel like peasants and losers when they make those HARD decisions about walking away? The mortgage problems have mostly been solved by getting rid of the Stated income, no-income verification loans, the negative-am loans, the Pic-a-pay mortgages, the Sub-prime adjustable rate mortgage with high prepayment penalties..... let's be smart......let's start making a difference. Let's start putting your personal interests aside and make a difference for the communities that elected you. People remember this when is comes time to vote again.