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Date

Mar

7
2008

Get your jumbo light mortgages here

By Matt Carter, Friday, March 7, 2008.

Fannie Mae will begin buying the new "jumbo light" loans of up to $729,750 from lenders on April 1. Loans originated after March 1 are eligible for delivery to Fannie, and the underwriting and pricing guidelines are posted here.

See previous post on how to look up the new loan limits for your area.  more...

Dive into a new low rate!

By Matt Carter, Friday, March 7, 2008.

Investors are demanding higher yields on mortgage-backed securities (MBS) guaranteed by Fannie Mae and Freddie Mac, and that could translate into higher interest rates for home buyers.

The Washington Post reports that at about 2.5 percent, the "spread" between MBS guaranteed by Fannie and Freddie and U.S. Treasurys of comparable terms is as wide as it's been in more than 20 years.  more...

Realtor.com and student loans

By Glenn Roberts Jr., Friday, March 7, 2008.

A shareholder group representing about 6.6 percent of stock in Realtor.com operator Move Inc. wants the company's board to boot CEO Mike Long and CFO Lewis R. Belote III based on a multi-million-dollar investment that the company said last week is currently illiquid (watch for Inman News report).  more...

Your (volunteer) services are requested

By Matt Carter, Friday, March 7, 2008.

I went to a slightly surreal "town hall meeting" on financial literacy yesterday -- surreal, because it took place in a tent pitched behind a Bank of the West branch office in Oakland's Fruitvale district, an area that's become a ground zero for foreclosures.  more...