Melanie Dages' Blog

Economic recovery is about making people feel more confident, says Mark Zandi, chief economist of Moody's Economy.com.

Zandi evidenced increasing home sales and gains in the stock market are some promising signs that the worst is over and people will start spending again.

"We're starting to see some pent-up demand for goods," he says.

But Zandi warns that the situation is still fragile. "Confidence is a very fickle thing. It can go from abject pessimism that pervades now to a more balanced view of the world rather quickly."

Robert Brusca of FAO Economics is predicting strong growth in the last half of the year and a quick recovery for the labor market. "You've lost 5 million jobs. It shouldn't be hard to put 2.5 million jobs back on rather quickly after you hit bottom," he said.

Joseph Carson, chief economist at AllianceBernstein, calls improving home sales, a rising stock market, and better-than-expected retail sales in February and March good signs of a turnaround. By the time President Obama's stimulus package takes effect, the economy will be ready, he says. "The stimulus has a much better chance of working if trends are already turning up than if it needs to halt a decline," he said.

Source: CNNMoney, Chris Isidore (04/06/2009)

NEW YORK (CNNMoney.com) -- Federal Reserve Chairman Ben Bernanke said Tuesday he sees "tentative signs" that the economy's dramatic decline is easing, but that full recovery won't come until the financial system is stabilized.

"Recently we have seen tentative signs that the sharp decline in economic activity may be slowing," Bernanke said in prepared remarks for a speech he is set to give at 1:30 p.m. in Atlanta.

Bernanke said "a leveling out of economic activity is the first step toward recovery," adding that "we will not have a sustainable recovery without a stabilization of our financial system and credit markets."

Among the positive indicators Bernanke mentioned were recent upticks in home sales and new home construction. He also pointed to improvements in consumer spending, notably sales of new vehicles.

Melanie Dages

**News on Fannie Mae New Home Path**

Eligibility Requirements for

Fannie Mae Home Path Program

Effective Monday February 9th, 2009, I’m pleased to announce the New Fannie Mae HomePath program. The New Fannie Mae Home Program is specifically designed for borrowers purchasing a REO directly from Fannie Mae.

? Standard fixed and adjustable rate products.

? Fully amortized fixed and adjustable rates.

? Up to 95% LTV 1-2 units primary residents and DW manufactured homes. Full doc, FICO 660 minimum.

? Up to 90% LTV second homes and investment properties. Full doc, FICO 660 Minimum.

? Warrantable Condos: Primary residence 80%-95% LTV FICO 580 minimum, Second Home or Investment 80%-90% LTV FICO 580 minimum.

? Mortgage insurance not required and appraisal not required. LTV is based on purchase price. Program requires HomePath Disclosure form to borrowers.

? Sellers concessions up to 6% with LTV from 75% to 95%.

? All Fannie Mae REO properties are not eligible for the HomePath financing. Property must be registered at www.homepath.com as being eligible for HomePath financing.

This is a quick overview of the new Fannie Mae Guidelines for New program called Home Path. For more information please contact:

Melanie Dages

Direct Access Lending

650 White Drive #200

Las Vegas, NV 89119

702-468-8737

702-617-9900