This week Washington Mutual secured $7 billion in new capital and announced plans to shut down their wholesale lending division, with 3,000 anticipated job cuts.As of close of business today, Washington Mutual has accepted the last of it’s loans to be submitted to their wholesale lending division.  Once a great source of wholesale rates and […]

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 The federal reserve has slashed rates again, dropping the fed funds rate to 2.25%.  This is good news for borrowers on adjustable loan programs tied to the prime rate, which now stands at 5.25%.  It has also trickled down to impact the 30 year fixed mortgage rates. Although they are not tied directly to the […]

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New conforming loan limits hit the ground this week, making it easier for some homeowners and potential buyers to qualify for loans once categorized as jumbo loans.  These new limits are good from March 6, 2008, through the last day of the year, barring the program being extended.
These new limits are determined by county, and […]

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Loan Workouts are on the rise, which is good news for the troubled real estate markets.  In the fourth quarter, delinquency rates were still rising, but the number of loan workouts also rose due to a number of factors.
One of the reasons for the increased number of loan workouts is the falling interest rates.  Many […]

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If you have been paying attention to the recent news surrounding the economic stimulus package, you know that conforming loan limits are set to rise.  Old limits of $417,000 are being changed on a county by county basis, based on the median home prices for that particular county.  That is good news for the housing […]

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