Archive for January, 2009

Fed begins to buy up mortgages as investors become interested in mortgage backed securities

Tuesday, January 13th, 2009

The Fed has begun buying up fixed rate mortgages backed by Fannie Mae, Freddie Mac and Ginnie Mae from lending institutions.  This is part of a $500 billion plan announced on November 25th.  The Fed estimates that it will complete the massive buy out by June 30th which is an astoundingly quick turn around.  Will […]

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Florida legislature looks to implement new rules on mortgage brokers

Monday, January 5th, 2009

The Florida legislature is looking at adopting new rules for mortgage brokers, some of them seem so common sense that one has to wonder why it is that they were nor enacted sooner.  Some of the regulations being looked at:
Require nonbank mortgage originators to undergo annual criminal background checks.
Require them to join a national registry […]

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