What is happening today in mortgage lending:
It was a crazy weekend. They finally came up with a proposed Bailout Plan. If you are interested I have attached a link for the complete copy or a link for the summary. Good article about the Libor check it out. Don’t forget that coming Oct 1, 2008 FHA risk base pricing goes away, you will need the new MCAW and 92900A. Check out my Sept 4, 2008 post on my blog for all changes.
Text of Draft Proposal for Bailout Plan
Summary of U.S. financial bailout bill draft
What is Libor? Answers to interest-rate questions
Shirley Nault has been a mortgage professional for over 20 years. Visit her other mortgage web sites go to: www.naultfhatips.blogspot.com or www.dutips.blogspot.com
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