An adjustible floating rate mortgage could sink your ship of state. But don’t count on the government bailing you out….

An adjustible floating rate mortgage could sink your ship of state.  But don’t count on the government bailing you out.  Those working in Rome on the Potomac believe that the free-market system only exists to prey upon borrowers.   Nevermind the fact that borrowers were the beneficiaries of five years of artificially low rates….

“Most of the other bills are still in planning stages, like numerous measures to regulate and penalize mortgage lenders who engage in predatory lending. Schumer acknowledged, however, that it won’t help anyone already suffering with a bad mortgage.

“This won’t do anything about what happened in the past, but it will prevent the present crisis from getting worse, because mortgage brokers are still preying on these people,” Schumer said.”
http://biz.yahoo.com/ap/070903/risky_mortgages_congress.html?.v=1

“Bad” mortgages or not, private equity sources know how to do due diligence on vetting potential subprime borrowers.  We don’t just need a return to the liquidity in the credit market, we need a return to common sense in lending without government interference.

Correct me if I’m wrong but am I seeing another bad banker news release coming from the Hill?

Frank Statement on the President’s Remarks on the Mortgage Markets
Washington, DC – Rep. Barney Frank (D-MA), Chairman of the House Committee on Financial Services, today offered the following statement in response to President’s address on problems in the mortgage markets:

“I welcome the Administration’s recognition that a greater public response is required and I look forward to working with them because I agree with a number of specific things that they propose. The Financial Services Committee has already advanced legislation, including a GSE bill that awaits Senate consideration, and we hope to send the FHA bill over soon.  We also are working with the Ways and Means Committee to address the tax issues involved.  However, there are some points of difference that we will need to work out going forward:

With regard to the FHA, going forward, I don’t think that working people and lower income people who are making payments to the federal government should be charged more than others. 

Second, I agree that the rules that regulators have developed for banks have been good ones, but I believe that federal action is necessary to apply them to all originators and the time for further study is over.

Third, there should be some rules to provide some quality assurance to investors in the secondary market. At his speech in Jackson Hole, Federal Reserve Chairman Bernanke noted the need for modification of the securitization process to provide greater investor protection and increased incentives for responsible lending. I believe that well- drafted legislation is essential to achieving this. 

Next, I continue to believe that the portfolios of Fannie Mae and Freddie Mac can play a bigger role than they are currently are playing, particularly in helping the refinancing of subprime mortgages that are about to experience significant interest rate increases.  I believe that the Administration’s objections to this are not based on safety and soundness grounds, but represent their one remaining ideological refusal to recognize the need for a greater institutional role in this regard. 

Finally, there needs to be a federal role in the construction of new affordable housing and preservation of existing affordable housing.”
http://www.house.gov/apps/list/press/financialsvcs_dem/press083107.shtml

For more information about HR1852, The Expanding Homeownership Act of 2007, please click on the following link:

http://www.house.gov/apps/list/press/financialsvcs_dem/press050307.shtml

For more information about HR1427, The Federal Housing Finance Reform Act of 2007, please click on the following links:
http://www.house.gov/apps/list/press/financialsvcs_dem/press032907.shtml 

http://financialservices.house.gov/index.shtml

Best in Success,
Maria Fee
REMI KNOX, LLC
Trading Financial Futures TM
281-346-0400   BUS  |  EMAIL   MariaFee@REMIKNOX.com
866-871-5914   BUS  | 
281-346-1300   FAX  |  WEB     www.REMIKNOX.com
 
Be your OWN BOSS! PART TIME NOTE BROKERING FOR FULL-TIME PROFIT.
Visit http://www.reminote.com/brokernotes.php.

We have a liquidity crisis in the real estate mortgage note business!

On Friday the Associated Press reported that First Magnus Financial Corp. was about to lay off nearly 99% of their workforce.   First Magnus, which includes retail outlets such as Great Southwest mortgage and Charter Funding, was scheduled to close more than 300 of their offices and lay off nearly 6000 employees as they faced a credit liquidity crunch of the immense proportion.  First Magnus says they were not involved in selling or bundling “subprime” mortgage loans but admitted that a bankruptcy filing was it a real possibility.  I’d be inclined to believe that there’s a bubble in the real estate market when the largest privately held mortgage banking operation in the country is unable to make a profit selling $30 billion in loans in the year 2006 alone!

You can read more about it here: http://biz.yahoo.com/ap/070817/first_magnus_shutdown.html?.v=2

Best in Success,
Maria Fee
REMI KNOX, LLC
Trading Financial Futures TM
281-346-0400   BUS  |  EMAIL   MariaFee@REMIKNOX.com
866-871-5914   BUS  | 
281-346-1300   FAX  |  WEB     www.REMIKNOX.com
 
Be your OWN BOSS! PART TIME NOTE BROKERING FOR FULL-TIME PROFIT.
Visit http://www.reminote.com/brokernotes.php.

Owner Financing News as of 12/23/2007 A.D.

Hello note investor.  My name is Maria Fee and I am the principal investor/owner at Remi Knox mortgage brokering company. I would like to welcome you to my blog which specializes in mortgage note information, owner financing and of course the growing of your personal wealth portfolio in the real estate market.  I am traveling today but I would like to invite you to look around my web site as well as my blog in order to ascertain for yourself whether I may help you increase your wealth profile.  I think you’ll see in no time that I am passionate about creating wealth by way of mortgage notes!  Feel free to call me at 1-281-346-0400 or toll-free at 1-866-871-5914. 

Basically, working smart is all about wealth creation.  Mortgage notes and owner financing can get you there!  As a subprime lending markets reel from write-downs and delayed financial reporting, I would like you to know that there’s never been a better time to invest in collateralized mortgage notes!

Allow me to elaborate.  Do you want to make more money selling your own home than a conventional real estate transaction can offer?  Owner Financing can help you with that. 

Is it your wish to have better than average returns on your income producing real estate investments?  Note Brokering can help you with that.

If in fact you are interested in increasing your wealth in a very prudent manner, I would like you to give me a chance to convince you that the best way to do that is through mortgage notes. It would be my joy to serve you in this area.

Best in success,
Maria Fee
REMI KNOX, LLC
Trading Financial Futures TM
281-346-0400   BUS  |  EMAIL   Maria@REMIKNOX.com
866-871-5914   BUS  | 
281-346-1300   FAX  |  WEB     www.REMIKNOX.com
 
Be your OWN BOSS! PART TIME NOTE BROKERING FOR FULL-TIME PROFIT.
Visit http://www.reminote.com/brokernotes.php.