HUD has announced the suspension of three lenders – these company’s FHA activity has been halted pending further investigation by HUD into their business practices. The three lenders are: Golden First Mortgage Corp of Great Neck, NY; Great Country Mortgage Bankers, Inc. of Coral Gables, FL; and Beneficial Mortgage Corporation of San Juan, PR. Any [...]

Another one bits the dust!  No not the song by Queen… Another National Net Branch company is shedding 80% of it’s branch offices. Branch managers were surprised by an email yesterday announcement to it’s large branch network that they are closing effective Tomorrow. Although the branches will have about 30 days to clear out their [...]

Loan limits on Fannie Mae, Freddie Mac, and FHA mortgages will be cut if we do not act now. This news is important to all net branch companies. Congress passed two temporary laws (The Economic Stimulus Act ) earlier this year that raised the maximum loan amount eligible to be purchased by Fannie Mae and [...]

By now everyone has heard about the historic bail out of Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) by the government. In the short term this looks like a good move. The two companies are saved from insolvency and they can continue with business as usual. Is this good or bad in the [...]