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	<title>The Truth About Mortgage.com</title>
	<link>http://www.thetruthaboutmortgage.com</link>
	<description>Understand mortgage, then buy.  Mortgage help and advice.</description>
	<lastBuildDate>Thu, 05 Nov 2009 17:54:07 +0000</lastBuildDate>
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	<item>
		<title>Fannie Mae Deed for Lease Program</title>
		<description><![CDATA[
Mortgage financier Fannie Mae has unveiled a new foreclosure prevention tool called the “Deed for Lease Program,&#8221; which helps struggling borrowers stay in their homes.
Unfortunately, that’s about all it does; borrowers must transfer the property back to their lender by competing a deed in lieu of foreclosure, and then lease the house at the prevailing [...]]]></description>
		<link>http://www.thetruthaboutmortgage.com/fannie-mae-deed-for-lease-program/</link>
			</item>
	<item>
		<title>Mortgage Rates Back Below Five Percent</title>
		<description><![CDATA[
Mortgage rates reversed course this week after increasing for three straight weeks, according to the latest survey from Freddie Mac.
The classic and always fashionable 30-year fixed mortgage slipped below five percent, averaging 4.98 percent during the week ending November 5.
It’s down from 5.03 percent a week earlier and 6.20 percent a year ago; it’s been [...]]]></description>
		<link>http://www.thetruthaboutmortgage.com/mortgage-rates-back-below-five-percent/</link>
			</item>
	<item>
		<title>The FHA&#8217;s Unhealthy Growth</title>
		<description><![CDATA[
If you were curious what unhealthy growth looked like, take a look at this chart from an article in the Wall Street Journal.
Per the WSJ, the FHA expects defaults on 24 percent of all loans insured in 2007 and 20 percent of those originated in 2008.
FHA’s market share, which was just 1.9 percent in the [...]]]></description>
		<link>http://www.thetruthaboutmortgage.com/the-fhas-unhealthy-growth/</link>
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		<title>Mortgage Demand Rises for First Time in Three Weeks</title>
		<description><![CDATA[
Mortgage application volume rose for the first time after three straight weeks of declines as interest rates saw some much needed relief, the Mortgage Bankers Association said today.
The home loan index increased 8.2 percent on a seasonally adjusted basis during the week ending October 30, or 7.9 percent unadjusted, compared with one week earlier.
Of course, [...]]]></description>
		<link>http://www.thetruthaboutmortgage.com/mortgage-demand-rises-for-first-time-in-three-weeks/</link>
			</item>
	<item>
		<title>Wells Fargo Converting Option Arms into Interest Only Loans</title>
		<description><![CDATA[
Wells Fargo is reportedly converting its $100 billion + stable of option arms into interest-only loans to avoid a complete disaster, according to a piece in the WSJ.
Borrowers with option arms are receiving loans with interest-only periods of six to 10 years in the hopes that home prices turn around during that period.
The company has [...]]]></description>
		<link>http://www.thetruthaboutmortgage.com/wells-fargo-converting-option-arms-into-interest-only-loans/</link>
			</item>
	<item>
		<title>Refinancing in Third Quarter Saves Homeowners $3 Billion</title>
		<description><![CDATA[
Borrowers who refinanced their conventional conforming mortgages in the third quarter cut their payments by a collective $3 billion over the first year of the loan, according to Freddie Mac.
The mortgage financier said half of those who refinanced their loans lowered their annual interest rate by 17 percent.
The average interest rate post refinance was about [...]]]></description>
		<link>http://www.thetruthaboutmortgage.com/refinancing-in-third-quarter-saves-homeowners-3-billion/</link>
			</item>
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		<title>Loan Modifications Will Not Hurt Credit Scores (At the Moment)</title>
		<description><![CDATA[
Going forward, government sponsored loan modifications will not adversely affect consumers’ credit scores, at least not immediately, according to a report in SF Gate.
Fair Isaac, now simply known as Fico, has applied the change on behalf of the U.S. Treasury Department so borrowers in need of a loan modification don’t hold back on fears of [...]]]></description>
		<link>http://www.thetruthaboutmortgage.com/loan-modifications-will-not-hurt-credit-scores/</link>
			</item>
	<item>
		<title>Mortgage Bankers See Another Profitable Quarter</title>
		<description><![CDATA[
Independent mortgage bankers and subsidiaries of banks, thrifts, and hedge funds saw an average profit of $1,358 on each loan they originated in the second quarter, according to a report released by the Mortgage Bankers Association.
That’s up from first quarter profits of $1,088 per loan, helped on by higher loan volume and reduced production costs.
&#8220;The [...]]]></description>
		<link>http://www.thetruthaboutmortgage.com/mortgage-bankers-see-another-profitable-quarter/</link>
			</item>
	<item>
		<title>HUD Cracks Down on Another Lender</title>
		<description><![CDATA[
The HUD’s Mortgagee Review Board has proposed to permanently withdraw HUD/FHA approval for Financial Mortgage USA, Inc., a reverse mortgage lender based in Honolulu, Hawaii.
HUD alleges that the company failed to implement an FHA-required quality control plan, instead allowing its Vice President to conduct such reviews.
Additionally, it failed to separate its lending operations from those [...]]]></description>
		<link>http://www.thetruthaboutmortgage.com/hud-cracks-down-on-another-lender/</link>
			</item>
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		<title>High Loan Limit, Homebuyer Tax Credit to be Extended Into 2010</title>
		<description><![CDATA[
The higher home loan limits currently in place are expected to stick throughout 2010, according to National Mortgage News.
The Obama Administration reportedly supports an extension of the current enhanced loan limits for Fannie Mae, Freddie Mac, and FHA loans.
The maximum conforming jumbo loan limit of $729,750 (in the nation’s most expensive counties) is set to [...]]]></description>
		<link>http://www.thetruthaboutmortgage.com/high-loan-limit-homebuyer-tax-credit-extension-into-2010/</link>
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