Raising conforming loan limits won't make much difference

Posted by: Peter Coy on February 11, 2008

loan limit.jpg

I’m republishing this item to fix an error that was pointed out to me by Alison Fitzgerald of Bloomberg. (Thanks, Alison.) My error was to say that the increase in loan limits wouldn’t take effect until July 31. It’s actually retroactive to July 1, 2007. That means that banks will be able to sell lots of existing jumbo loans that are clogging up their books to securitizers, giving them the capacity to make new loans. It’s an important difference, although I think the overall point of this item still stands.

How much will the housing market be helped if Washington authorizes Fannie Mae, Freddie Mac, and the Federal Housing Administration to buy more expensive mortgages? Not as much as you might guess. The changes are part of an economic stimulus package passed by Congress and sent to President Bush for his signature on Feb. 7.

A study released Feb. 7 by Deutsche Bank analyst Nishu Sood looks at the loan provisions and sums it up with this headline: “High-profile policy, low-profile impact.” Sood concludes: “Every little bit helps, but we expect only a few percent of home transactions to be impacted in 2008.”

Here’s why:

—Loan limits will go up only in metro areas with high home prices such as Washington, D.C., and California. That’s 20 of 160 metro areas in the U.S.
—The market is going to charge a premium for mortgages that are close to the higher limits, albeit not as big a premium as the one on today’s jumbo mortgages.
—The benefit of higher loan limits is offset by the greater difficulty of qualifying for loans.
—The higher loan limits are set to expire at the end of 2008.
—Although the changes in FHA limits will affect a greater number of metro areas (about half of them), the interest-rate benefit is smaller on FHA loans than on loans that conform with Fannie and Freddie’s limits.

Washington, D.C., is the one top-10 market for builders where Sood thinks raising the conforming loan limit will make a significant difference.

By the way, the congressional plan is to change the conforming loan limit from $417,000 to 125% of the median home price in each market or $417,000, whichever is greater. The FHA loan limit, which tends to be substantially lower, would also rise to 125% of the median home price.

(Image courtesy of Miller Samuel’s Soapbox.)

Reader Comments

Dave

February 10, 2008 11:40 AM

Peter, While I agree with you for the most part (especially the timing of missing the spring selling season), I think the package will have a larger effect than you think. Helping the largest economies like California will positively effect the rest of the country.

JanB

February 10, 2008 2:15 PM

Other than to help a few people Refi, I can't see these new limits helping much at all!

The REAL problems in DC, or most other areas are massively over-valued homes that are leveraged to the hilt by owners to used them like ATM's to gut every dollar of value out of them over the last several years. and--

Skyrocking inventories!! People realize this was all a giant Ponzi scheme, and that rather than incurring losses of hundreds of thousands of dollars, they will just WALK because it just makes better sense financially. It is CRAZY that it has all come to this, but think about it--The Government has taken away every single incentive there ever was for continuing to stick it out.

You won't be taxed now on the difference if you walk, and can save a lot of money in the long run by doing so.

This is all going to get very, very ugly.

gnome mac

February 10, 2008 11:28 PM

Maybe only 20 of the nations markets will benefit from higher loan limits from Freddie Mac and Fannie Mae but, the size of these markets interms of households and the lack of jumbo loans will make a huge difference.

SM

February 11, 2008 1:20 PM

Whats the new conforming loan amount?

David M

February 11, 2008 2:39 PM

Let's keep in mind that nearly 50% of the jumbo loans in the US are in California. If this can help to stabilize their market, I think that alone will make a huge difference.

FHA limits will also increase to the 125% of Median Home Price, which will be great for buyers, but I'm not so sure of the impact that it will have for those who are refinancing.

With a lot of the MI companies limiting the loans they insure to 90% CLTV, I think this change comes at a good time.

J Clinton Smith

February 11, 2008 3:51 PM

Rumors have the loan amount on conforming mortgages rising from anywhere between 650k to 730k until December of 2008 and the FHA loan limits raising to 650k permanently. This will give a lot of borrowers some breathing room on those high interest combo loans that are outstanding. It will also assist borrowers who still have subprime mortgages that are at a high loan balance. Good luck and God Bless!!

Shamun Mahmud

February 11, 2008 3:52 PM

I hope that this legislation gets signed into law ASAP. There are many Jumbo ARMs that are getting ready to re-index. The effects of this legislation should be great. It would be a travesty if the limits went into effect in late-July, as the economic benefits are needed now!

i write fha loans

February 11, 2008 9:43 PM

The major benefit for the higher FHA limit will be the purchase loans and refi's.They will follow the less restrictive underwriting guidelines of FHA and no money downs loans will now be insured by HUD their premiums are half that of conventional. it should be rolled out nationally to $417.000 that would definitely cure the housing slump..so I guess they are 20% toward fixing the problem.

Mike

February 11, 2008 10:17 PM

It would sure help my situation at the moment. When is the President expected to sign and how long after do you think before lenders can begin to offer? Much appreciated.

SurfinCali

February 11, 2008 10:20 PM

I disagree with janB that it makes more financial sense to walk. That is ridiculous! Is it really a financial benefits to screw up your credit for years to come and leave a permanent public record of irresponsibility...nevermind all of the other fall-out repercussions!

Mountain

February 12, 2008 5:54 AM

I think the primary problem in the California real estate market is affordability. I personally don't feel this limit increase will be much help for us in California. While it will help financial institutions to be able to sell their existing loans and pass the losses onto the federal government, it will be of little benefit to borrowers looking to purchase real estate here as most people in California simply don't make enough to make the mortgage payment on a median priced home. Now the taxpayers will be responsible for the financial losses of the lending institutions due to their poor lending standards during this real estate boom and now bust. I don't see why we the taxpayers should bail them (the financial institutions and homeowners for that matter) out for not checking people's incomes and properly qualifying them for these loans in the first place. What ever happened to common sense.

Smittyman

February 12, 2008 9:21 AM

I disagree with the fact that you think this won't help. I guess none of you live in the northeast or LA or SF where a starter home, you know 2,000 sq ft or less, can run close to $400k and that's a total fixer-upper. How are young couples supposed to buy a home in this environment. It is unfair to make them pay 1.00% more becuase of the prices of homes in their area.

Kids don't come out of college with a $100k in their savings, it's more like $100k in student loans. Higher rates equal payments and more chance of foreclosure. Think about a little.

Matthew

February 12, 2008 10:02 AM

What is the new conforming loan amount and when does it go into effect? Are the sole providers for these loans only going to be provided through Fannie Mae and Freddy Mac?

Maria Hickman

February 12, 2008 10:09 AM

I think it will help more than you think. First of all people that are in Jumbo mortgages will be able to refi, lowering their payment, which will give them more money to spend in the stores, which will boost the economy. Secondly, People buying homes will be able to afford larger ones because now they can go over thr 417k loan limit and still have a great rate, which will help the real estate market and lastly, the people who have been hit the hardest in their jobs (anyone connected to the real estate/mortgage businesss) will begin to make money again and they too will go and spend more boosting the economy! Of course, it will not help everyone but this is the segment of the population who has been hit the hardest and we need these people back spending again!

If you are in California and want to see how much money this can save you Contact me! miahickman13@aol.com

jonathan

February 12, 2008 10:52 AM

@JanB
Simmer down a little. It's far from a disaster. The DC market is very high value because lots of people want to live here. If you work in or near government or the DC Tech sector you have to be nearby and the tradeoff is commute time vs. house price. Sure it is correcting some but the only people impacted are those who bought in the last two years. Everyone else is just fine thanks.

Inventories are falling, not skyrocketing, since builders have stopped building. Invetories are still high but are slowly coming down. Prices in this area (DC) have slid some, particularly well outside the city, but not a great deal.

The only people "walking" away from homes are the ones that should have been renting, not buying, to begin with. If you "walk" you still have to live somewhere and that means rent or buy. Ditching a house to the bank destroys your credit so buying another house is out of the picture for years. Renting isn't much cheaper than buying around here so that whole concept would net you bad credit and the same monthly payment.

It's not going to get any uglier than it already is. People who should have been renting were sold loans by people looking to make a quick buck. The renters wil be back to renting again and the quick-buckers will show losses for a few years and then it's back to sanity...

...unless we do a lot of bailing out; in which case we'll have the same bubble again in five years.

TonyV

February 12, 2008 3:03 PM

Will the conforming limit increase include Prince William County VA?

Fifedog

February 13, 2008 3:43 PM

I'm one of those few which is looking forward to this. My wife and I are selling condo and wanting to buy a house. We live in the Silicon Valley and any Single Family home is above the conforming loan limit here. So getting this limit raised will help reduce the APR rate which will be a great help.

patrick kirkwood

February 13, 2008 8:21 PM

An increase in residential mtge limits, particularly FHA, will help existing homeowners and would-be homeowners tremendously in addition to generating revenue for federal and local government and again supplying cash to help resusitate US economy. I am not an advocate of "the home as an ATM machine". Such past excessive practices provided a stay to our current economic dilemma, while exacerbating the current crisis. A very sharp and rusty triple edged sabor. Where will the edge slice? Did you get your tetanus shot? Oh, can't speak due to lock jaw? Seems I heard, "no medical insurance". I have listened to many so called mtge/finacial/banking experts. If they were instead celibrated allopathic physicians I might take a contrary approach to their recommendations, say bloodletting(assuming this was not the recommendation)
Is anyone familiar with usury? 'Creative' mtge repayment plans known as amortization schedules are a 'smoke and mirror' adherence to usury legislation. The consumer gets robbed.
Check and see how much goes to principal and how MUCH GOES TO FINANCE CHARGE(interest payment) This interest is not in the consumer's interest; all pun intended. Knowledge is in the consumer's best interest. Are we merely chattle?

mauricio villamarin

February 13, 2008 9:26 PM

This is very good!

B

February 13, 2008 10:44 PM

Unfortunately, this initiative will only benefit the banks. They got caught with thier pants down and had to write off billions in loans, sorry did I say off I meant write down (huge difference)anyway, end run the consumer hears alot of BS but gains very very little. Truthfully, the gov't should keep thier $168b and lower taxes and forget about the value of the dollar... it's toast until we bring the economy back for real, starting with the real estate market.

jwb

February 14, 2008 3:12 PM

When do the new loan rates take effect in the DC Metro area? In other words, when can I refinance my $550k mortgage at non-jumbo loan rates?

DORIS

February 16, 2008 2:59 PM

I JUST TALKED TO A WAMU LOAN OFFICER. HE SAID MOST LIKELY EFFECTIVE DATE OF NEW HIGHER CONFORMING LOANS WILL BE IN MID MARCH. I CAN'T WAIT. BUT I READ EVERYWHERE IT WILL BE TILL JULY 08. ARE THERE ANY OTHER PREDICTIONS OUT THERE? COMMENTS ARE APPRECIATED. I AM BUYING IN CALIFORNIA AND I DON'T WANT TO GET TWO LOANS.

DORIS

February 16, 2008 3:02 PM

I JUST TALKED TO A WAMU LOAN OFFICER. HE SAID MOST LIKELY EFFECTIVE DATE OF NEW HIGHER CONFORMING LOANS WILL BE IN MID MARCH. I CAN'T WAIT. BUT I READ EVERYWHERE IT WILL BE TILL JULY 08. ARE THERE ANY OTHER PREDICTIONS OUT THERE? COMMENTS ARE APPRECIATED. I AM BUYING IN CALIFORNIA AND I DON'T WANT TO GET TWO LOANS.

Spencer

February 18, 2008 6:58 PM

I wouldn't underestimate the psychological effect of this law. While i agree it will hardly make any different mathematically regarding affordability, it may cause a lot of people to start calling 'the bottom' and enter the market again to buy.

Cheryl "B"

February 25, 2008 9:49 PM

If any of you have read "Freakonomics" and some of the other readings regarding Behavioral Economics, then you will understand there may be another layer here that should be considered - that of the effect of this on the market mentality. At the moment anything that moves us in a positive direction may actually help turn the tide. This might work -especially if the media starts suggesting it might be working. We need to start seeing the people that are out there buying in the media vs.all the doomsday stuff. There are pockets (all real estate is local) where things aren't that bad - not great but also not totally in the toliet. How can we get the media to modify their doomsday behavior instead of leading us all over the cliff? Unfortunately doom and gloom sell more that upside.....

jon

February 27, 2008 7:50 PM

YEAH THE MEDIA DOESN'T HELP. AND WHAT MOST PEOPLE ARE NOT CONSIDERING IS THE PRICE TO BUILD A HOME. IF YOU WONDER WHY NO ONE IS BUILDING (ESPECIALLY HERE IN CENTRAL CAL) ITS BECAUSE YOU CAN BUY A HOUSE CHEAPER THAN WHAT YOU CAN BUILD ONE FOR. DO THE MATH. IF IT COSTS A BUCK TO BUILD A HOME AND THEIR SELLING FOR 50 CENTS, WHAT DOES THIS MEAN? TWO THINGS IF YOUR A BUILDER STOP AND IF YOUR AN INVESTOR BUY!

silence dogood

March 2, 2008 6:44 PM

America is screwed.

JP

March 4, 2008 1:49 AM

JanB has it right. This was a giant Ponzi scheme. Most of you are in denial thinking a little help here or there will turn this housing crisis (mortgage loan problem) around. When you see the 100 to 200 banks (mentioned on CNN) fail later this year then you all will see the light at the end of the tunnel. Yes, a freight train coming right at you. Too late, kiss your 401K (backed by mortgage backed securities) and bank savings goodbye (better check that your bank is FDIC). The first step in fixing a problem is admitting there is a problem. The main problem is that shacks (not homes) were flipped like dot.com stocks for a profit. The shacks are not worth hundreds of thousands of dollars. The game of finding the next sucker to unload a ridiculously inflated property with an outrageous mortgage is over. So anyone that played the game and didn’t get out by finding next sucker is stuck. Take your lumps. Back in 2000 when you invested in the dot.com and lost (did and should the govt) have bailed you out. No, you gambled and lost. This time around some people thought they were buying a home before houses became unaffordable and bought on the way up. Sorry, ignorance is bliss. Others were the flippers. The smart ones made lots of money and got out when before the last sucker bought. The government should have stepped in and stopped this bubble back in 2002. All the govt had to do is raise interest rates or impose a massive capital gains tax on home flippers. Instead they allowed the banks to relax lending standards and everyone had a great time making money at the expense of the poor guy trying to buy a home for his family. The only way to start to the fix the problem is to begin with telling the truth. A house is not a commodity to be flipped for a profit. It is a home for a family to lived in. A shack is shack. Which means to appraise it as a shack- $120K (not $417K or $580K). Appraise those $850K houses where they were back in 2001 $450K. In short, the fundamentals (wages) do not and cannot support these ridiculously high house prices. Helicopter Ben should raise the interest rates (not slightly) to the clouds (13% would be a good start- 17% even better). The houses will sit unsold until the house prices come down to their real values. When the house prices come down then people will buy again. No, the houses will not be unaffordable. The monthly payments will be the same or lower because of the much lower house prices. Let the suckers take their lumps to we can move on to the next Ponzi scheme. I mean get our economy moving again

d

March 5, 2008 12:58 PM

It really is a joke in Southern California. I was very fortunate to get out of this home flipping game at the top. I did it only to move into a larger house. The last house was an affordable loan for two years then...no way. I got sucked into a shity loan that would eventually lead me to loosing my property. You can say that the loan was my fault. In a way yes. But I trusted a professional just as I would any other pro. ie; plumber, attorney, electrican...get my point.

I have been renting for two years (the house is in forclosure..go figure) and am finally getting back into a house that was atm mortgaged to the hilt (1.2M) I am getting the house for half of what is owed to the bank, from the bank. I am also banking on the conforming cap raising in a week to make it affordable.
I am an example of positive that will come from it being raised.

Nancy

March 6, 2008 7:00 PM

I heard that the new conforming limits would only be available for loans that originated sometime from 11/2007 to the current date. I also called Fannie Mae and they still as of yesterday do not have any of the details yet. I was waiting with a rate locked in to re-finance but don't want to keep paying higher points to keep that low rate that I may not even be able to use since the loan was originated as a purchase in 2006. It's all a game.

J Butler

March 6, 2008 9:49 PM

I have my home for sale in Maryland 20 minutes north of Baltimore, I have crazy neighbors. 1.5 yrs ago the house next door sold for $635,000. I can't give my house away at $520,000. No one is even looking. The house I want to buy is new construction, Richmond American Homes. A house I have been watching since October 2007. They increased the price Jan 28 from 651,000. to 696,000. I just looked at it, its now $715,000. They could not sell it at $651,000. I agree, the building and real estate Fat Dumb and Happy days are over for awhile. They say history repeats itself and that is whats happening. Nothing lasts forever, did we all think this would?

Anthony Young

March 7, 2008 2:13 AM

When are the banks going to recognize this increase? from what i can tell so far there hasn't been any changes on the wholesale side. I'm still waiting for the banks to announce this and or include it on their ratesheets. As of right now I haven't seen one bank change their "conforming" loan limits to reflect the increase in the high cost areas. Mid March is fast approaching and i haven't heard anything from anyone else in the mortgage industry. In fact my bet is that if it does happen it won't be until late summer. I hope I'm wrong though.

Christopher

March 8, 2008 12:24 PM

Here in Los Angeles, I believe the impact from these loans will vary widely. There certainly are areas and property types that will see a stabilization if not upward pressure on values because of the loan limits. For example, there are many condos that sell with loans below the conforming limit. However, with the loan limits raised there is bound to be upward pressure on some of these condos in the nicer areas that have not been hit by foreclosures but have suffered from the general lack of demand.

However, I think where the limits could also have a significant impact here in L.A. are with duplexes, triplexes and fourplexes. The limits have also been raised substantially for these property types and the micro economies of several specific L.A. neighborhoods (good demand, low foreclosures, etc.) suggest that these loan limits could push prices up for 2-4 units. I just blogged about this and contacted some of my clients looking for these types of properties.

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Connecticut Yankee

March 10, 2008 6:45 PM

Ponzi scheme, organized crime, white-collar crime, financial conspiracy, do-nothing government, etc. Who's at the top of it all? Only a few names can consistantly move markets and the nedia with such Rockefeller, Buffet, Rothschild, forceNames like Now flashback to the Dock workers in Boston, MA, in 1700's when the King of England was bleeding the common people dry. So, the Dockworkers revolted, tarring and feathering the King's tax clerks, had a tea party, and finally a revolution took back the country. Back then you were in touch with your enemy. These days - and this is also part of the conspiracy - we're kept apart from each other, by the internet.
I HAVE 2 HOUSES THAT I FINANCED WITH CONFORMING MORTGAGES 5 TO 10 YEARS AGO. WITH THE RISE IN HOME VALUES, THEY ARE NOT ATTRACTIVE TO BUYERS BECAUSE JUMBO RATES ARE NOT ATTRACTIVE. THE VALUES OF THE HOMES HAVE DOUBLES, TAXES HAVE DOUBLES, GAS AND OIL PRICES HAVE DOUBLED, SO WHY NOT CONFORMING LAON AMOUNTS - FOR NOW - UNITL WE RID OURSELVES OF THE FEDERAL RESERVE BANKS AND TAKE BACK OUR COUNTRY, JUST AS THE DOCKWORKERS DID IN BOSTON, MA. WE OWE THAT TO ALL THAT FOUGHT AND DIED IN THE REVOLUTIONARY WAR. BECAUSE AFTER ALL, ENGLAND HAS ULTIMATELY WON THE WAR THAT THEY SUPPOSEDLY LOST IN 1776. AND THE COST ISN'T JUST THE NAME OF OUR COUNTRY, OUR ECONOMIC FREEDOM THAT'S BEEN TAKEN.

Jack

March 11, 2008 1:27 PM

I just spoke to my bank and they told me that Fannie Mae has given them the OK to implement the new conforming rates. The problem is that they have two months to implement. The real advantage to the new rate is that borrowers are no longer going to have to get a jumbo loan in a lot of circumstances. A jumbo loan can add up to 1 point on to your loan rate. People should be able to finance at a lower rate with one mortgage and not two. Fannie Mae fell asleep at the wheel for 7 years and is now trying to make up for it. It has been a long time since you could get any type of decent home in a major metropolitan area for under $417k. This forced a lot of people, like myself into higher loan rates than we initially qualified for, because of the jumbo point. It doesn't make any sense to me because the people who work at Fannie Mae making the decisions live in the DC area where the median price of a home is well over "200K".

Jeremy

March 24, 2008 12:04 AM

Jack: Fannie Mae does not set the conforming loan size limits; CONGRESS does (Fannie & Freddie are government-sponsored entities who are extremely regulated). A huge part of the reason that homes in high cost areas are so high has been the lax monetary policy of the Fed and zero oversight over mortgage lenders over the last several years, much moreso than anything else. By Congres allowing Fannie & Freddie to guarantee jumbo loans, you Mr. Joe Six Pack taxpayer are now burdening the default risk on a much larger pool of loans than ever before, as these two agencies have the implicit guarantee of the US government if they were too fail. Do you really want your tax dollars going to bail out some borrower who bought a 700k house in the outskirts of LA that two years from now will only be worth 450k ??? Bad Bad Bad Idea. It keeps prices artificially high and lets lenders off the hook for their absurd largesses.

Mitch

April 22, 2008 10:46 AM

I've been checking with my bank, HSBC, on when they will offer the new levels for conforming loans. I get stonewalled, with little to no answer. They keep saying check back, so I guess I call every week or two. They also said expect the rates to rocket when it is released and another whopper, that it might require a point on the new loan.

I sold and bought last summer, so I traded up to a house from a condo. I did very well on the condo and bought a house because I've a 2 year old son and we wanted more space and a nice neighborhood for him to grow up in. The house is certainly alot more expensive and I'm not worried that we may have overpaid, especially since we did well on the condo. I'm sure the value of the house has dropped, but we are going to live in this house (g-d willing) for the next 30 years or the rest of our lives. We love it.

Still, we got a Jumbo, and it would be great to get the conforming rate as we did what most first time home buyers are told to do, to by just slightly outside our comfort level as we'll grow into the home and not want to go bigger in 5 years (as we actually did with the condo). We can handle it, but with the rising prices of just about everything of late, the lower rate would be a major help.

SO....can anyone help with any suggestions or advice on what the deal is? Why are the banks opening this up and what's with the point applied? It doesn't make sense to me, that if we got a standard loan that we'd get that penalty. Are ANY banks offering this yet?

Thanks!

George

May 29, 2008 7:57 PM

Well, here we are end of May and I have yet to hear from any of the banks in Los Angeles. They don't know diddly squat about the increase.

I also contacted Fannie & Freddie and they just said to talk to my "neighborhood bank" about it. I was hoping to refi soon because house values in CA are dropping and by the time they do get things rolling I probably won't have the 20% equity that they require to give me a conforming loan.

This is way too frustrating.

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COUNTRY:_________
DURATION:_________
SEX AND AGE:_________
MONTHLY INCOME:_________

alan lisa

February 12, 2010 8:13 AM


This is institution is set up by the Central Bank Of Nigeria to provide to the world an opportunity to get of their bad credit situation.
It is a helping hand to business men , students ,workers and co-orporative organisations.
If you are in need of any financial assistant , or would want to borrow money for any project , Strong Brokers Capital Market (S.B.C.M) is here to help you.
We offer all sought of loan , short and long term loans are being offered by our institution , can be amortized for the period 10-30 years at the interest rate of 3% only.
Our Services include :
1.) Selling and Buying of Stocks,
2.) Insurance of Landed properties,
3.)Buying and Selling Of Currency,
4.) Offer Of Loans Such As :
* Student loan
* Business loan
* Auto loan
* Private/Public Loan
* Mortgage Loan , and much more.
If you are interested in obtaining a loan from this institution kindly get back to us with the information below :
Surname : ……….
First Name : …….
Last Name : ……..
Date Of Birth : ………
Gender : ………
Marital Status : ………..
Maiden Name (for female ) : ………….
Next Of Kin : …………….
Occupation : ……………
Current Status At Working Place : …………….
Home Address : ……………..
Office Address : ………….
Home Telephone Number : …………
Office Telephone Number : ………….
Amount Needed As Loan : ……………
Loan Term : …………………………
Purpose Of Loan : ………………..
Anual / Yearly Income : …………….
NOTE : On application please send us the scan copy of your national identity card for verification and security reasons.
CAUTION : Fraudsters should not apply , anybody caught in the act will punished under the financial law. Be a good citizen of your country .
Regards,
Dr. Mr alan lisa (Director) ,
Email: GENESISLOANFIRM@GMAIL.COM

alan lisa

February 12, 2010 8:23 AM


This is institution is set up by the Central Bank Of Nigeria to provide to the world an opportunity to get of their bad credit situation.
It is a helping hand to business men , students ,workers and co-orporative organisations.
If you are in need of any financial assistant , or would want to borrow money for any project , Strong Brokers Capital Market (S.B.C.M) is here to help you.
We offer all sought of loan , short and long term loans are being offered by our institution , can be amortized for the period 10-30 years at the interest rate of 3% only.
Our Services include :
1.) Selling and Buying of Stocks,
2.) Insurance of Landed properties,
3.)Buying and Selling Of Currency,
4.) Offer Of Loans Such As :
* Student loan
* Business loan
* Auto loan
* Private/Public Loan
* Mortgage Loan , and much more.
If you are interested in obtaining a loan from this institution kindly get back to us with the information below :
Surname : ……….
First Name : …….
Last Name : ……..
Date Of Birth : ………
Gender : ………
Marital Status : ………..
Maiden Name (for female ) : ………….
Next Of Kin : …………….
Occupation : ……………
Current Status At Working Place : …………….
Home Address : ……………..
Office Address : ………….
Home Telephone Number : …………
Office Telephone Number : ………….
Amount Needed As Loan : ……………
Loan Term : …………………………
Purpose Of Loan : ………………..
Anual / Yearly Income : …………….
NOTE : On application please send us the scan copy of your national identity card for verification and security reasons.
CAUTION : Fraudsters should not apply , anybody caught in the act will punished under the financial law. Be a good citizen of your country .
Regards,
Dr. Mr alan lisa (Director) ,
Email: GENESISLOANFIRM@GMAIL.COM

Mr Terry Nicky

March 3, 2010 4:08 AM


Attn:
I am Mr Terry Nicky, a renowned, legitimate and accredited lender money. We
offer loans to people in need of financial assistance. Do you have a bad
credit or who are in need of money to pay bills?we want to use this
medium to inform you that we provide the best reliable beneficiary
assistance as we'll be happy to offer you a loan.here is infor?
Full Name :____
Gender :_______
Country :_______
Amount Needed As loan :__
Loan Duration_______
Purpose Loan :_______
Monthly Income_____
Cell Phone:_______
Please write again if interested.And send your email to
(ty.nickyloanfirm02@gmail.com)
Tel +601 96970753
Sincerely,
Mr Terry Nicky

Mr Terry Nicky

March 3, 2010 4:10 AM


Attn:
I am Mr Terry Nicky, a renowned, legitimate and accredited lender money. We
offer loans to people in need of financial assistance. Do you have a bad
credit or who are in need of money to pay bills?we want to use this
medium to inform you that we provide the best reliable beneficiary
assistance as we'll be happy to offer you a loan.here is infor?
Full Name :____
Gender :_______
Country :_______
Amount Needed As loan :__
Loan Duration_______
Purpose Loan :_______
Monthly Income_____
Cell Phone:_______
Please write again if interested.And send your email to
(ty.nickyloanfirm02@gmail.com)
Tel +601 96970753
Sincerely,
Mr Terry Nicky

Mr Terry Nicky

March 3, 2010 4:14 AM


Attn:
I am Mr Terry Nicky, a renowned, legitimate and accredited lender money. We
offer loans to people in need of financial assistance. Do you have a bad
credit or who are in need of money to pay bills?we want to use this
medium to inform you that we provide the best reliable beneficiary
assistance as we'll be happy to offer you a loan.here is infor?
Full Name :____
Gender :_______
Country :_______
Amount Needed As loan :__
Loan Duration_______
Purpose Loan :_______
Monthly Income_____
Cell Phone:_______
Please write again if interested.And send your email to
(ty.nickyloanfirm02@gmail.com)
Tel +601 96970753
Sincerely,
Mr Terry Nicky

Richard Powell

April 20, 2010 12:54 PM

ATTENTION:
welcome to LEXINGTON LOAN SERVICES. we offer loan to those
on bad credit ,student looking for financial help and to companies with a very
low interest rate and without collateral any interested one should contact us
via email richardloaninvestment@live.com with the following information,
*******************************************************
BORROWERS INFORMATION
Full name:
Country:
Address:
Age:
Fax Number:
Occupation:
Marital status:
Current Status at place of work:
Valid ID Card:
Sex:
Tele phone:
Phone number:
Monthly Income:
Amount Needed:
Propose of Loan:
Loan Duration:
How Urgent do you need the loan:
*******************************************************
Regards,
MD, Mr Richard Powell
Email:richardloaninvestment@live.com

Richard Powell

April 20, 2010 1:08 PM

ATTENTION:
welcome to LEXINGTON LOAN SERVICES. we offer loan to those
on bad credit ,student looking for financial help and to companies with a very
low interest rate and without collateral any interested one should contact us
via email richardloaninvestment@live.com with the following information,
*******************************************************
BORROWERS INFORMATION
Full name:
Country:
Address:
Age:
Fax Number:
Occupation:
Marital status:
Current Status at place of work:
Valid ID Card:
Sex:
Tele phone:
Phone number:
Monthly Income:
Amount Needed:
Propose of Loan:
Loan Duration:
How Urgent do you need the loan:
*******************************************************
Regards,
MD, Mr Richard Powell
Email:richardloaninvestment@live.com

Richard Powell

April 20, 2010 1:18 PM

ATTENTION:
welcome to LEXINGTON LOAN SERVICES. we offer loan to those
on bad credit ,student looking for financial help and to companies with a very
low interest rate and without collateral any interested one should contact us
via email richardloaninvestment@live.com with the following information,
*******************************************************
BORROWERS INFORMATION
Full name:
Country:
Address:
Age:
Fax Number:
Occupation:
Marital status:
Current Status at place of work:
Valid ID Card:
Sex:
Tele phone:
Phone number:
Monthly Income:
Amount Needed:
Propose of Loan:
Loan Duration:
How Urgent do you need the loan:
*******************************************************
Regards,
MD, Mr Richard Powell
Email:richardloaninvestment@live.com

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BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.

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