Builders Lending Group

Similar to other programs which are targeted at the "in over my head" borrower, Fannie Mae is seeking to help. Although, Fannie Mae seeks not to write off debt but to refinance borrowers up to 120 percent of the market value. The main purpose of this program is to, hopefully, lower the "Over my head" borrowers payment, and get them into a fixed rate loan they can afford. Click Here

Fannie Mae scheduled dividend rate adjustments for two Series of Variable Rate Non-Cumulative Preferred Stock: Series F and P. The new rates will be 1.36 percent per annum ...Click Here

The Senate is trying to pass a bill that both Democrats and Republicans will agree on. Hopefully this will get a grip on the nations growning housing crisis...More here

Department Of Housing
President Bush announced the creation of FHASecure. Backed by the government, FHASecure is enabling homeowners who have a history of on-time mortgage payments under their original interest rates, but missed payments after their rates reset, to refinance into FHA's mortgage insurance program....READ MORE

The house has seemingly struck a deal with the White House that would temporarily increase Fannie and Freddie Mac loan limits from $417,000 to $730,000...Read More
 

This bill will modernize FHA and will help many people get mortgages. This bill includes eliminating arbitrary caps on the number of reverse mortgages FHA can insure. Also included are loan limit increases, and simplified down payment requirements...Full Story