FAMB - Central Florida Chapter

December 5 Newsletter: An Online Update from the Central Florida Chapter

Central Florida Holiday Prom

The Central Florida Chapter of the Florida Association of Mortgage Brokers is pleased to invite you to our FAMB Holiday Prom on December 13th, 2005 at the Shrine Auditorium.

The festivities will begin at 6:30 p.m. and end at 11:00 p.m. Dance music will be provided by the Cotton Davis Band, and there will be a cash bar.

Admission (includes two drink tickets per couple)

FAMB Member and one guest = Free + one unwrapped new toy for Toys for Tots
Non-member and one guest = $20.00 + one unwrapped new toy for Toys for Tots

RSVP by email to RSVP@fambcentralflorida.com or call Lane Griffin at (561) 662-5263.

Download your Invitation

Fannie Mae Raises Loan Limit to $417,000

On November 29, Fannie Mae announced that it will apply new conforming loan limits, as determined by the Office of Federal Housing Enterprise Oversight based on federal data on mean (average) home prices, to increase its single-family mortgage loan limit to $417,000 for 2006.

To see how much the limit has increased in recent years, click here and view a chart of historical loan limits.

Read the Fannie Mae Press Release to find out about the new limits for 2 - 4 unit homes and more!

Mortgage Fraud in the UK

A Welsh businessman, David Edward Dale, who admitted building a property empire by using fraudulent mortgages has been jailed for two years and ordered to pay Ł4.2m compensation.

Earlier in the week, the judge in the case sentenced 11 people who allowed Dale to use their details to obtain mortgages during the early years of his empire building. Judge Burr said he accepted that banks had not lost financially but said people who signed application forms had to do so honestly and enter correct details. They, along with Dale, had admitted charges of providing false details in order to obtain mortgages.