The Friday Mortgage Brief - May 6, 2011
Current Interest Rates
417K and below with 0 points 30yr fixed 4.500 FHA/VA 4.250 15yr
Fixed 3.750 5yr ARM 2.990 FHA 3.250
417-729k with 0 points 30yr fixed 4.625 FHA/VA 4.375 15yr
Fixed 3.875 5yr ARM 3.250 FHA 3.250
The SAFE Act Regulation
The Secure and Fair Enforcement Act ot 2008(SAFE Act) requires every Mortgage Loan Originator to register with the Nationwide Mortgage Licensing System and Register(NMLSR).
-Each Loan Officer has to go through a background check, fingerprints, etc. and will get a unique identifier -Designed to provide increase accountability and tracking of loan originators -Enhance consumer protection -Identifier is required to be displayed on all documents provided to clients (business cards, emails, etc.)
From Bruce
The heart of a mother is a deep abyss at the bottom of which you will always find forgiveness. Honore de Balzac
Have a great Mother's Day Weekend!
Bruce
Bruce Rosenberger
Chairman's Team
SunTrust Mortgage, Inc
Cell 703.850.1349