| Due to unprecedented changes in the Secondary Market and a deteriorating housing market, Fannie Mae and Freddie Mac are imposing new standard loan level price adjustments for loans with various combinations of risk characteristics. This increase will go into effect on January 4th for all conforming loans from any Lender this is not a Wachovia specific increase. It is important that if you have any buyers that have not locked their loans yet they do so ASAP Fannie and Freddie will consider any loan over 70% in loan to value with less then a 680 score a high risk loan The adjustment to price ranges form .75 discount points to 2 discount points. These bumps in discount will lead to an increase in interest rates anywhere from .5 % to 1.5 % Wachovia will continue to offer our portfolio and community products without the penalty. Now more then ever it is important to look towards Wachovia for your buyers finance needs. Wachovia continues to Staff up for 2008. Our Volume continues to grow as other lenders and Banks are closing. Mark Wasserman Mortgage Consultant Wachovia Mortgage Corporation Phone (704) 442-6471 Cell (704) 957-8789 Fax (704) 442-6448 Email mark.wasserman@wachovia.com |