Jeremy's Blog

RD UPDATE . . . . .

Here at AmeriFirst we are still closing & funding RD Loans, but our competition will be back in the game soon.

H.R. 4899, has now passed the House and Senate and is off to the president to sign. Typically, the President will sign it into law within 3 days at which time we will have unlimited RD funding for FY 2010.

This bill passed in the House by a considerable margin (304-114). It will now be sent to the President for signature.

We are now on the way to funding restoration in the USDA Section 502 Guaranteed Program.

Flyers Here

The Federal Housing Administration (FHA), has proposed rule changes in place that will crush our low end market. Public comment is open, act now

Comment HERE: http://www.regulations.gov/search/Regs/home.html#documentDetail?R=0900006480b1a605

Fannie Mae is cracking the whip on people who short sale their homes or have a foreclosure. GKAR golf outing

regulations.gov contest video for the rules matter. They asked me to make a video about why we need more rules. Well here it is!

RD Funding Update

brought to you by Jeremy Drobeck at 1stclassmortgageservice.com

As you are aware RD was expected to exhausted their fiscal 2010 funding authority and this occurred on March 11th … This was expected. The new self sustaining authority proposed for the RD program is yet to be acted on by the Senate Banking Committee, however, we are confident in it’s ultimate passage. Although we have some procedural issues to address we have determined that we will continue to originate RD loans in a business as usual fashion subject to the new guarantee amounts (3.5% on purchase). You should know that this is the way Amerifirst has chosen to deal with the situation. You may hear rumblings that RD is out of money. Although this may be true, RD is going to continue to issue conditional commitments and we will continue to close these loans. Please forward this on to your fellow Realtors it may help you sell one of your listings. If a customer is talking to a lender that is not doing RD loans right now they may be denied financing, when in reality they could possibly obtain RD financing and in turn purchase one of your listings!

WE HAVE NEVER STOPPED & ARE STILL DOING RD LOANS!

CALL ME WITH QUESTIONS: (269) 598-3975