Rob Chrisman: Tuesday mortgages: some hope for jumbos, the next step for the FHA bill, more VA hints, and some company news

December 18th, 2007 · No Comments

rob-chrisman-tuesday-mortgages-some-hope-for-jumbos-the-next-step-for-the-fha-bill-more-va-hints-and-some-company-news

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Arthur is 90 years old. He’s played golf every day since his retirement 25 years ago.  One day he arrives home looking downcast. “That’s it”, he tells his wife. “I’m giving up golf. My eyesight has gotten so bad…. once I’ve hit the ball, I can’t see where it went.” His wife sympathizes, and pours him a cold drink.  As they sit down she says, “Why don’t you take my brother with you, and give it one more try?”

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That’s no good” sighs Arthur. “Your brother’s a hundred and three. He can’t help.”  He may be a hundred and three”, says the wife, “but his eyesight is perfect.”

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So the next day Arthur heads off to the golf course with his brother-in-law.  He tees up, takes a mighty swing and squints down the fairway. He turns to his brother-in-law and asks, “Did you see the ball?”  “Of course I did!”

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“Where did it go?” says Arthur.

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“I can’t remember.”

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Treasury Secretary Henry Paulson favors temporarily allowing Freddie and Fannie to purchase jumbo loans which exceed $417,000. Currently the two own or guarantee 40% of the $11.5 trillion home loan market, and Paulson said he agreed with Fed Chairman Bernanke who suggested to lawmakers that they consider allowing Fanni