Treasury yields are lower for a third day, after the Commerce Department said home builders broke ground on fewer homes in July and wholesale prices jumped more than economists expected  FNMA 30 yr Mortgage Backed Securities DOWN 1.9 basis points* to 6.266%  10 Year Treasuries unchanged at 3.81% ... 08/19/2008

Mortgage rates begin the week going in the right direction.  Treasury yields also declined. FNMA 30 yr Mortgage Backed Securities DOWN 3.6 basis points to 6.285% Ten-year Treasury note yields fell 2 basis points to $3.824%. DJI stocks down 33 in early trading. Crude oil up $ $1.58, to $115.35 on ... 08/18/2008

Unapproved FHA brokers will no longer be able to collect 25% of the commision on FHA Reverse mortgages. HUD will be issuing a Mortgagee Letter within the next 30 days eliminating any so-called "HECM Advisor" programs. Because the law requires that, "All parties that participate in the origination... 08/17/2008

Unapproved FHA brokers will no longer be able to collect 25% of the commision on FHA Reverse mortgages. HUD will be issuing a Mortgagee Letter within the next 30 days eliminating any so-called "HECM Advisor" programs. Because the law requires that, "All parties that participate in the origination... 08/17/2008

Wednesday AM Market Wholesale mortgage rates are down this morning after Fannie Mae Mortgage Backed Securities dropped 4.5 basis point to 6.333% from 6.378% yesterday. A basis point is 1/100 of a percent Dow Stocks down 141 in early trading. Crude oil is up $1.84 at $114.85 a barrel. Treasurys ed... 08/13/2008

Borrowers should never go first when a lender tells them "show me yours and I'll show you mine". A flyer came in the mail the other day; gray, semi-official looking, undated.  It was from the "Negotiation Center" claiming that I might be able to negotiate a 30 year fixed rate loan for 5.875% (5.9... 08/12/2008

The FHA 203(k) is a great tool for purchasers of trashed REOs or even buyers who wish to remodel the kitchen in their new home.  The 203(k) loan provides one home loan for buyers to purchase and rehabilitate.  It is also a great tool for Realtors to create a marketing niche. Click for a quick 5 m... 08/07/2008