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 [...]
As a nation and as an industry we are in uncharted waters. I doubt anyone can accurately predict the outcome. What we can do is make some estimates on how the mortgage meltdown will change our industry in the short term – The next 18 – 36 months. Purchase – Purchase – Purchase – FHA [...]
Net Branch – How important is FHA? Up until 18 months ago most people would have said – not so much! Today it’s another story. With the Fed take over of Fannie and Freddie comes a very strict requirement for the two agencies to cut their portfolios by over 60%. This will mean less lending [...]
The LIBOR index is rising fast… Refinance opportunity for net branch the LIBOR rate has spiked in recent weeks. What is the LIBOR and why is something your clients should be concerned about? From a report on Bloomberg this week.. “The overnight Libor rate in U.S. dollars soared 3.33 percentage points to 6.44 percent today, [...]
