Matt's Blog

I received this email below from one of the Down Payment Assitance companies that was encouraging enough to post and share.  This means that now more than ever congress needs to hear from us.  I'm working on a follow up post for the activerain community that I will send out later today that detai...

Since my last post on this I have come across 3 lenders I use that will still allow up to 10 properties financed for conventional files.  The interpretation on the wholesale side is that once Freddie Mac does something then Fannie Mae is soon to follow and vice versa.  While some lenders still wo...

I have a drawer full of clients that, without Down Payment Assistance, would be in an apartment still. I say this because, as DPA is a loophole in the system, it is a great way to get 100% financing for good people that truly need and appreciate the opportunity to own a home of their own. I just ...

Over the last 2 weeks most of my FHA lenders have released thier notices about how their company will handle September fundings as far as seller financed Down Payment Assistance... I just got off the phone with one of my lenders that is taking the most aggressive approach I've seen so far.  The h...

Yesterday the mortgage industry received the anouncement, from one of the larger lenders ,that was somewhat expected, however, definitely unwanted.   On Septmeber 15th they will no longer accept rate locks from borrowers that have more than 4 properties financed.  This follows the recent drop fro...

"Housing and Economic Recovery Act of 2008" Webinar Wednesday, August 13th at 2:00pm ET Tune into NAMB's webinar to find out how this law will affect you and your industry. Please click here to register for the webinar. You must register to take part in the webinar.  I don't know if there is a ch...

U.S. Reps. Al Green (D-TX), Gary Miller (R-CA), Maxine Waters (D-CA), and Christopher Shays (R-CT) submitted legislation last friday that would reauthorize non-profit Down Payment Assistance.  This bill is introduced as H.R. 6694.  This was expected between last Wed (when Bush signed into law the...

 1:22:51 PM  Wednesday, July 30, 2008 Here is a link to the Summary of the new law that was signed by the President this morning. Housing and Economic Recovery Act Summary My job is to focus on the positives even though there are few.  I do see the intention of "hope" in several areas, however, t...