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Takeover of Fannie Mae, Freddie Mac to Bring Short Term Benefits to Home Buyers | 09-10-2008

The federal government's takeover of secondary mortgage giants Fannie Mae and Freddie Mac should, at a minimum, benefit home buyers in the short term, according to the National Association of REALTORS®. For example, a sample of mortgage lenders recently said that rates dropped 3/8 of a point within 24 hours of the announcement, and an additional drop is expected before week's end. NAR fully supports the action of the U.S. Treasury and the Federal Housing Finance Agency and has provided a summary of the takeover and talking points for your use in speaking to members, local officials and the media. Follow the link below to view this valuable information.
http://www.ncrealtors.org/uploads/OTO-GSETakeover9-8-08.pdf

Federal Mortgage Success Stories

The government's takeover of Fannie Mae and Freddie Mac, the nation's largest mortgage finance companies, is training a spotlight on a part of American financial system that rarely gets much attention: the vast network of federal agencies and quasi-governmental lenders that helps keep credit flowing through the economy. However, through all the recent portrayals of doom and gloom involving Fannie Mae and Freddie Mac, the media has missed one small piece to the puzzle, the several federal mortgage success stories.
http://www.nytimes.com/2008/09/10/business/10home.html?_r=1&th&emc=th&oref=slogin

Register Now for NC REALTORS®' Free Webinar on September 16!

Join the North Carolina Association of REALTORS® on Tuesday, September 16, 2008 at 10:00 am for an important video webcast on recent changes to the Real Estate Commission's rule regarding the disclosure of brokerage fees and other compensation by a real estate agent during a real estate transaction, set to take effect on October 1. This rule will apply to ALL real estate sales transactions in North Carolina.

Simple to View!

See and hear your questions being answered live by Will Martin, General Counsel for the NC Association of REALTORS®, Miriam Baer, Assistant Director of Legal Services for the NC Real Estate Commission and George Bell, REALTOR® & President of G. Bell Productions, Ltd. by simply typing your questions in during the program. Questions will be answered as time allows. Webinars are very simple to view and submit questions. But you first need to sign up! And hurry,space is limited! This Webinar is via the internet and your participation requires computer speakers and high speed internet access. Go to http://www.iian.ibeam.com/events/ncar001/27727/

Webinar Registration

1. Click on the event link above.
2. Fill in your information on the registration page. Then click Next. You will enter the event site, and receive a message that you have arrived at the event site too soon. This is a standard message asking you to return at the designated time for the webinar.
3. You will receive a confirmation email! If you don't receive it within an hour, please check your spam folder.


If for some reason you can't view the Webinar, don't worry! The Webinar will be archived for a year for all NC REALTOR® members to view!

(For more information, click the following link,www.ncrealtors.org After logging in to the NC REALTORS website, click on the above title under "Top News Stories")

'Busiest Day in Years' Reported This Week

Mortgage brokers say Monday, September 8 was the busiest day they can remember in the last couple of years. The average rate for a 30-year fixed-rate loan fell to 6.04 Monday, about a third of a percentage point lower than on Friday, September 5 before the federal takeover of Fannie Mae and Freddie Mac. On a $200,000 loan, that's about a $500 annual savings. http://www.realtor.org/RMODaily.nsf/pages/News2008090903?OpenDocument

NAR REALTOR® Benefits

NCAR members have access to the National Association of REALTORS®' (NAR's) REALTOR Benefits® Program. This program provides unique value-added offers, created just for you, on the products and services you use every day. Be sure to make the REALTOR Benefits® Program your first stop when shopping for everything from laptops and electronics to insurance or financial solutions. You will find over 30 partners in a variety of categories including: marketing, technology, insurance and warranties, office solutions, financial services, travel/automotive and more! For a full list of partners, along with their member-only programs and savings, visit Realtor.org or call 1-800-NAR (627)-5233.

Congress Weighs Reprieve for Seller-Funded Gifts

A last-ditch effort to head off an Oct. 1 ban on the use of seller-funded down-payment assistance with FHA-backed loans is picking up steam as a compromise bill, that would mend rather than end the practice, gains momentum. http://www.inman.com/news/2008/09/10/congress-weighs-reprieve-seller-funded-gifts

Winston-Salem Named Among Best Places for Affordable Housing

Hailed as a haven for racing fans and the home of one of the country's top hospitals, Winston-Salem recently ranked No.13 as one of the best places to find affordable homes. http://money.cnn.com/galleries/2008/moneymag/0809/gallery.bpretire_affhomes.moneymag/13.html

Prospective Home Buyers: Now Really Is the Time to Buy

This fall could be a particularly great time for first-time or buyers long out of the market to jump in, according to several real estate professionals. Follow the link below for the reasons why and be sure to share them with any potential home buyers still sitting on the fence! http://www.realtor.org/RMODaily.nsf/pages/News2008090902?OpenDocument



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