| converted to cash in 2004,” noted Nothaft. Freddie Mac expects home sales to hit a new record again in 2005 as low fixed mortgage rates combined with teaser discounts on adjustable-rate mortgages maintain affordability, even as home prices rise. The federal government of the United States created countrywide full spectrum lending Federal National Mortgage Association (FNMA) (NYSE: FNM), commonly known as Fannie Mae, in 1938 to establish a secondary market for mortgages insured by the Federal Housing Administration (FHA). Fannie Mae buys mortgages on the secondary market, pools them and countrywide full spectrum lending them as mortgage-backed securities to investors on the open market. This secondary mortgage market helps to replenish the countrywide full spectrum lending of lendable money for mortgages and ensures that money continues to be available for new home purchases. “Home equity is also extracted through home sales when homesellers roll only part of the equity from the sale into new downpayments. A recent study co-authored by Fed Chairman Alan Greenspan put this form of equity extraction at roughly $350 billion in 2004 and $300 billion in the first quarter of 2005 at an annualized rate.” Freddie Mac expects 30-year fixed mortgage rates to rise through the countrywide full spectrum lending of the year, ending with a fourth quarter average near 6.0 percent, approximately one-quarter of a percentage point higher than the third quarter average. A commercial lender offers loans backed by hard collateral. In most cases this countrywide full spectrum lending real estate, but it can also include factoring, non-conforming assets, or other sources of collateral. Although there can be other possible ways countrywide full spectrum lending doing business, a real estate brokerage usually earns its commission (fee) as follows. A real estate broker and a seller who decides to sell his/her real estate through that broker sign a listing contract. The seller's real estate is then listed for sale. In consideration of the brokerage successfully finding a satisfactory buyer for the property, a real estate broker anticipates receiving a commission for the service the brokerage provided. Usually, the payment of a commission to the brokerage is contingent upon finding a countrywide full spectrum lending buyer for the real estate for sale. The details are typically determined by the |
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