Mortgage News and DPA

What is happening today in mortgage lending:

Mortgage firms pay false advertising fineshttp://blog.seattlepi.nwsource.com/consumersmarts/archives/145539.asp

Guest column: Down-payment assistance important in housing market
http://www.greenbaypressgazette.com/apps/pbcs.dll/article?AID=/20080808/GPG0703/808080674/1247/GPG03


Freddie Mac issues Bulletin August 8, 2008
With this Single-Family Seller/Servicer Guide (Guide) Bulletin, Freddie Mac is amending Guide Section 17.2, Provisions for the payment of fees and proceeds and application of delivery fee credits.
We are also making the following changes to our postsettlement delivery fees (delivery fees), effective for all Mortgages sold to Freddie Mac under flow Purchase Contracts with Freddie Mac Settlement Dates on or after November 7, 2008:
■ Increasing the Market Condition delivery fee rate
■ Adding a new Indicator Score range, revising the Indicator Score/Loan-to-Value ratio delivery fee rates and adding new delivery fee credits for Mortgages with certain Indicator Score/Loan-to-Value combinations
■ Increasing cash-out refinance Mortgages Indicator Score/Loan-to-Value delivery fee rates for cash-out refinance Mortgages with certain Indicator Score/Loan-to-Value combinations
■ Increasing Credit Score/Loan-to-Value (CS/LTV) delivery fee rates for certain A-minus Mortgages, other Caution Mortgages and Non-Loan Prospector® Mortgages
■ Increasing the Investment Property Mortgage delivery fee rates
Read the entire bulletin
http://www.freddiemac.com/sell/guide/bulletins/pdf/bll080808.pdf