Replies to Post #170072 onOption Millionaires

Replies to #170072 on Option Millionaires

05/12/13 3:39 PM

JMHO but they cont. to produce record numbers and a larger share of the market, FHA will be backing down on their share of the market due to the LIFE long 1.35% mortgage insurance no matter how much equity you have in your home[starting June 1st] and yes I understand the avg American lives in their home for 7 years but it is more of a mental idea.
Now Freddie and Fannie offers better payments on less risky borrowers and you still can get rid of the Mortgage insurance once the 80% is in your home, they also offer 3% down product the is equal to FHA but no upfront 1.75% fee and the insurance does fall off, downfall to Freddie and Fannie is interest rate is higher.
I also like the mortgage insurance companys as well, genworth, MGIC, and United guerentee and long term.
BY no means am I trying to put you in your place but JMHO on the matter.
Love your board and signing up gold star this week and will join you and your team of pros in the chat room this week.
Thanks and have a great weekend

sdh

05/12/13 3:50 PM

#170074 RE: jimmybob #170072

FNMA record profit and paying govt a payment

which will reduce the debt ceiling and postpone raising the ceiling until after Labor Day

http://www.bloomberg.com/news/2013-05-09/fannie-mae-to-pay-treasury-59-4-billion-after-record-profit-1-.html

ShootinBlanks

05/12/13 4:48 PM

#170075 RE: jimmybob #170072

I've been sitting on some FMCC for a while now. Not sure exactly where it is headed but I'm thinking I will see some nice profits down the road. Fannie and Freddie aren't going anywhere with the government owning preferred shares and getting payments from them.