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Contributed by David Gold, Genworth Financial Home Equity Access, Inc. Genworth is pleased to announce the release of our Fixed Rate product in Arizona, California, Florida, New Jersey and Pennsylvania. As the Fixed Rate product is available in additional states, we will communicate rollout dates via our standard Broker Alert process. In addition, available states will [...] Contributed by Debi Folkman, M&T Bank Good morning and Happy Friday! I wanted to send this email out again for those of you who may be starting to do business with M&I and to clarify what M&I allows for Customary and Reasonable Fees since HUD implemented this back in May. We will allow a 1% Origination Fee [...] Betsy Marvin sent me an Excel spreadsheet that explains what fees are considered to be APR fees. It is absolutely critical you understand this material since changing fee amounts from your early disclosures may require an additional pre-closing “cooling off” period. Click here for Franklin American’s memo on new MDIA procedures. Click for to view the PFC [...] Contributed by: Dan Matejsek, www.realestatechampions.com, Compliments of Betsy Marvin, Franklin American Mortgage Company Agents get off on the wrong marketing road when they try to take communication shortcuts by blitzing the market with their ad messages. This route leads to a dead end for two reasons. One, you don’t have the [...] Contributed by: Ismat Sarah Mangla, www.money.cnn.com, Compliments of Betsy Marvin, Franklin American Mortgage Company There’s plenty to like about the credit card reforms President Obama signed into law this May. For example, starting in February, your card company won’t be able to raise the interest rate on an existing balance. Payments [...] Contributed by: Tessa Stowe, www.salesconversation.com, Compliments of Betsy Marvin, Franklin American Mortgage Company Is it risky to buy from you? It seems like an odd question, perhaps, but this is the question your prospects will be asking themselves before they actually do buy from you. They want to know that you are [...] Contributed by Ali Brown Most businesspeople present themselves as who they want to be instead of who they really are. Now, I believe in thinking big, but not at the expense of being true to ourselves. When we start off in business, we often have visions of who we think we need [...] According to Bankrate.com borrowers should take time to shore up their credit, craft their budget and organize financial documents before home shopping. These steps will go far in smoothing the way to a home purchase. Ideally, clients should start working on their home-buying project before they even start shopping for homes. According [...] Contributed by AP New U.S. home sales rose by the largest amount in more than eight years last month, in another sign the housing market is finally bouncing back from the worst downturn in decades. The Commerce Department said Monday that sales rose 11 percent in June to a seasonally adjusted annual rate [...] Contributed by Anna DeSimone, Compliments of AllRegs In recent months, both Fannie Mae and Freddie Mac have revised their guidelines for condominiums. The changes published by the agencies are outlined below. Fannie Mae – Key Points Summary of Announcement FNMA 08-34 Amendments to Condominium Unit Mortgage Requirements Project Eligibility Review Service (PERS) is a project-acceptance review [...] |
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