I have now expanded my product offering to merchant financing, I can now offer lines of credit to merchants and set them up so that their clients can receive financing to purchase their product. Minimum loan amount $1,000.
Other news: More and more legislators are coming to the conclusion that mortgage brokers have unjustly become the whipping boys for the current mortgage crisis. My comment on this,
“Where were your thoughts when the Frank-Dodd Act was being enacted? Too little, too late; the damage has been done. It’s obvious that the financial power players were at fault and people that could have done something were either bought off or did not care. The result is that brokers have been placed in a position where they are participating in an un-level playing field and the entities that were at fault have been rewarded”.
The result of this injustice is still in play.
Rates are still pretty close to rock bottom. Overnight averages on mortgage rates per Bankrate.com listed below.
OVERNIGHT AVERAGES PER BANKRATE.COM
| Product | Rate | Last Week |
| 30 Year Fixed Mtg | 3.92% | 3.94% |
| 15 Year Fixed Mtg | 3.25% | 3.27% |
| 5/1 ARM | 2.86% | 2.88% |
1/9/2012
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