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Mortgage Brokers

Welcome to the special Real Estate Industry Bulletin for Mortgage Brokers.

BB&T ditches FHA and VA adjustable-rate mortgages

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BB&T ditches FHA and VA adjustable-rate mortgages

The financial services giant BB&T (BBT: 23.21 +2.29%) announced that it no longer provides adjustable-rate mortgages backed by the Federal Housing Administration or the department of Veteran Affairs. A spokesperson from the firm told HousingWire it's a strategic business move. "At BB&T we consistently evaluate our product line and make adjustments based on clients'...
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5 Secrets of Successful Real Estate Investors

5 Secrets of Successful Real Estate Investors

Can anyone become a successful real estate investor? According to industry experts…the answer is a resounding “Yes”. Average Americans and heavy-hitting investors alike have historically embraced real estate as one of the most reliable methods available to generate real wealth. If anyone can succeed at real estate then it only stands to reason that...
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Reconciling the Household and Payroll Surveys of Employment

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Reconciling the Household and Payroll Surveys of Employment

Every month the BLS puts out a report that discusses the difference between the household and establishment surveys: Employment from the BLS household and payroll surveys: summary of recent trends The Unemployment Rate comes from the Current Population Survey (CPS: commonly called the household survey), a monthly survey of about 60,000 households. The jobs...
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Unemployment Rate and Level of Education

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Unemployment Rate and Level of Education

Another graph by request … Click on graph for larger image in new window.This graph shows the unemployment rate by four levels of education (all groups are 25 years and older). Note that the unemployment rate increased sharply for all four categories in 2008 and into 2009. Unfortunately this data only goes back to...
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FHFA finalizes housing goals for Fannie, Freddie

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FHFA finalizes housing goals for Fannie, Freddie

The mortgage finance space may remain divided on the future of government sponsored enterprises, Fannie Mae and Freddie Mac, but that isn't stopping the Federal Housing Finance Agency from regularly updating housing goals for the securitizers. In May, the FHFA set new housing purchase goals for Federal Home Loan Banks. The FHFA proposed the...
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FOMC August Minutes: Both employment and inflation to fall short of dual mandate

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FOMC August Minutes: Both employment and inflation to fall short of dual mandate

From the Fed: Minutes of the Federal Open Market Committee Eocnomic outlook: Members still saw the economic expansion continuing, and most believed that inflation was likely to stabilize near recent low readings in coming quarters and then gradually rise toward levels they consider more consistent with the Committee’s dual mandate for maximum employment and...
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Fannie Mae July mortgage portfolio up 4.1% from year earlier, prices two-year deal

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Fannie Mae July mortgage portfolio up 4.1% from year earlier, prices two-year deal

Fannie Mae’s mortgage portfolio through July is up 4.1% from the year ago yet down somewhat from June, and the GSE issued nearly half the mortgage-backed securities during the month than in did last July. Fannie ended July with gross holdings of nearly 2 billion. That figure stood at 0.4 billion last year and...
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Q2 real GDP revised down to 1.6% annualized growth rate

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Q2 real GDP revised down to 1.6% annualized growth rate

From the BEA: Gross Domestic Product, 2nd quarter 2010 (second estimate) The following table shows the changes from the advance release (this is the Contributions to Percent Change in Real Gross Domestic Product). The largest downward revisions were to the change in private inventories, imports, and non-residential structure investment. Personal consumption expenditures and investment...
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MBA: Mortgage refinance activity increases, Purchase activity flat

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MBA: Mortgage refinance activity increases, Purchase activity flat

The MBA reports: Mortgage Refinance Applications Continue to Increase as Rates Decrease The Refinance Index increased 5.7 percent from the previous week and is at its highest level since May 1, 2009. The seasonally adjusted Purchase Index increased 0.6 percent from one week earlier.…“The volume of refi applications last week was up 26% over...
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Will you still be writing loans this time next year?

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**Don’t miss the VIDEO below–and start making more appointments!** For most mortgage brokers, the old ways of doing business are dead. Sure, some “top dog” brokers in some markets are carrying on like always, seemingly immune to the downturn that has turned the real estate world upside down. But they’re the exception. (Although a...
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