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Mortgage and Lending - Franklin Advantage Inc. - NMLS Lic. # 343946
It's been a while since I've blogged......alot has been going on as I am sure that you are aware of with our market.  I talk to people everyday, and one of the most frequent questions has to do with the current state of interest rates.  Like many, even though I've been doing this 38 plus years, I...
  Forum HUD has placed a one year moratorium on their risk based pricing effective with case numbers ordered on or after October 1, 2008.  Consequently, effective with new FHA case number assignments on or after that date, FHA will no longer base its mortgage insurance premiums on a combination o...
Forum Maybe you are tired of hearing or reading about this issue, but it is worth repeating.  Tomorrow is an important day for our Congressional and Senate Leaders.  It is reported that the Senate will vote tomorrow regarding the proposed bailout solution. Regardless of which side of the fence th...
Forum Speculation is fueling the fear on Wall Street that Wachovia will be the next to go down.  Refer to my post yesterday about Washington Mutual. Looks like we are in for a further bumpy ride next week.  For information on Wachovia, please refer to the article at Bloomberg below:
Forum Today was a day when politicians spent most of the day with their typical infighting rather working on a solution to the financial crisis.  The stock market rallied for a good part of the day on news that a compromise had been reached.  Late in the afternoon, it was announced that an agreem...
  Forum HUD recently issued Mortgagee Letter 2008-25 in response to " Unscrupulous" practices regarding the conversion of an existing home to a rental. Recently, Fannie Mae and Freddie Mac changed their guidelines where any borrower applying for a new mortgage where they were retaining their old ...
Forum The last two weeks has been history in the making where corporations, banks, and the like have in many cases gone down almost overnight based on public confidence which in turn affects the Wall Street market.  After meeting with President Bush today, the White House has announced that both ...
There has been alot of speculation recently about many of the down payment assistance programs, commonly referred to DAP programs.  The hightened coverage of foreclosure figures has prompted HUD and several politicians to get on the bandwagon about these programs. Regardless of what side of the f...
Forum I read a few posts recently where some agents have expressed some concern about whether their lenders know enough about FHA to be trustworthy. Any condo that is available for FHA financing must appear on FHA's own Approved List. Attached is a very simple way for you to look up any condo on ...
AR Forum I am not going to sit here and pretend that I have all the answers.  Yet, in my 38 years of experience, the last week or so in the mortgage arena has been sort of like the " Wild West ". I'd also like to think that those of you who closely work with your preferred lender would be getting...

Wayne L. Brown

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