Fannie & Freddie Tightening The Screws, on You
Can we really call continue to call it a subprime problem when Fannie Mae and Freddie Mac have added a 0.25 fee charge to ALL new conforming mortgage programs REGARDLESS of your credit score, income, down payment, or any other strong, and typically prime borrower situation.
Nope!
This contagion in the mortgage markets is spreading like a virus. Too bad no one has any immunization! This runs from low and high income borrowers, big and small mortgage companies, the titans of Wall Street, and banks located on foreign shores.
What would you call it?
Mortgage loan programs continue to evaporate like a mist into the ether, and the ones you can find become more expensive as times passes by. Government regulation beckons and consumer choices are reduced. Put these all together and you have one big brake overpowering the economy. We are beginning to see the general media catch up with our thinking from months ago. Remember?
The weird thing is that I have my highest month of production since last March. Weird, not really. My competition that entered the business after I are leaving in droves. Good for me, and good for you and your friends too. The ones that remain understand this business is about protecting our clients finances and future, not taking advantage and pilfering them!
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