•  A pair of short-term, targeted incentives aimed at enticing would-be home buyers back into the market could result in as many as a million more sales this year, the new chief economist of the National Association of Home Builders said at the group's convention in Las Vegas.

•  REO inventories are still rising at Fannie Mae and Freddie Mac, the government sponsored entities (GSEs).

•  MGIC Investment Corp. predicts that it will not be profitable in 2009.  This large, private mortgage insurer did have an improved fourth quarter over the previous year.

•  Fitch Ratings reports that the number of large commercial real estate loans going into default is on the rise.

•  With home prices having fallen 18% since 2006 and with the potential for another 10% drop in 2009, the average mortgage could be "underwater" soon.  This according to a former chief credit officer of Fannie Mae.

•  The Supreme Court will hear and review a decision by a lower court that essentially frees national banks from all state scrutiny and review.

•  We are hearing that certain residential lenders are now charging up-front "rate lock" fees for refinancing.  At this time, MetFund has no intention of implementing such a charge. 

•  The new $825 billion economic stimulus package is slated to restore the super conforming loan limit to $729,750 in high-cost areas through year-end 2009.

•  The privately owned Federal Reserve purchased $23.4 billion of GSE mortgage backed securities for the week ending January 14.

•  We have now closed several loans with rates in the high 4's and look to complete a lot more in the near future.

•  Several lawmakers announced a Citibank backed plan to allow courts to "cram-down" or alter the mortgages of those borrowers who enter bankruptcy.  Existing legislation prohibits a judge from changing the terms of any borrower's mortgage for their primary residence but surprisingly would allow it for a second home or investment property.

•  Fannie and Freddie extend their suspension of foreclosure sales and evictions until January 31.

•  Questions on the stimulus package popping up from all sides.

•  The slowing economy is beginning to take its toll in the commercial finance sector.

•  Central banks around the world including our own private Federal Reserve have manipulated interest rates close to zero, and are thus badly punishing savers.  "Forcing money into risky assets is perhaps the most dangerous experiment ever, and we have no idea how it will end."

•  Congrats to the University of Florida Gators!  A second BCS title in 3 years.  Turned those Sooners into gator bait...   I am a proud alumni, a member of the Gator Nation.

•  Mortgage backed securities (MBS) continue to be gobbled up by the Fed and Treasury driving mortgage interest rates down.  Improve your personal situation by getting a lower fixed rate.  Call us today and get your loan approved.  Be ready to lock the rate that works for you!