NAMB Applauds Passage of Stimulus Package, Mortgage Brokers are Ready to Deliver
Feb 13, 2008
McLean, Va. – February 13, 2008 – The National Association of Mortgage Brokers (NAMB) gave enthusiastic support to the bipartisan stimulus package signed into law by President Bush today, stating it will offer real relief to millions of Americans through tax rebates and other provisions, particularly those focused on the housing industry.
“Several weeks ago NAMB issued a statement announcing support for the increased loan limits for residential loans insured by FHA and purchased by Fannie Mae and Freddie Mac,” said NAMB President, George Hanzimanolis. “Today, we pledge to help borrowers gain access to those programs so they can take advantage of the attractive loan terms now available.”
“These increases will help millions of homebuyers finance their homes at historically low fixed interest rates, and it offers potentially great savings to families who currently have jumbo loans,” Hanzimanolis said. “Mortgage brokers know the loan programs available, and we are ready to help new and existing homeowners explore the home financing options this stimulus package will create.”
The stimulus package calls for temporarily raising the loan limits up to nearly 0,000, and is expected to have a powerful impact on families across America, particularly in high-cost areas. In its previous statement, NAMB called on Congress to take up comprehensive GSE reform as quickly as possible, beyond the confines of the economic stimulus package.
NAMB also urged Congress to further assist families by making the loan limit increase for FHA-insured loans permanent rather than temporary.
Loans News