Quick news and a million dollar approval

Democrats defeated a plan for government-subsidized 4%, 30 year fixed mortgages. I can't see their constituents celebrating this victory.

Senator Patty Murray wants to raise Fannie Mae loan limits.

The Treasury overpaid for assets? I think the standard used should be subjected to more scrutiny.

Finally, Fannie Mae is easing some lending requirements.

Sales have been brisk at the Moderno, a local luxury condo development

Today's sample approval:

A 1million dollar purchase. 723 credit score, 20% down payment. The rate will be 8% for a 30 year fixed, with 1.5 points for the origination fee. The client can choose between that and 7.125% for a 10 year ARM, with a 1 point origination fee.

Have any questions? Looking to apply for an FHA or jumbo mortgage in Washington DC, Virginia, Maryland, or Florida? Just email me or reach me on Twitter and I'll be in touch.