Keller Mortgage Joins Layoff Wave Keller Williams has laid off an unspecified number of people at its lending business, Keller Mortgage, following job cuts at several other mortgage lenders. So reports The Real Deal.

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Dem. Bill Would Set Up 20-Year Mortgages for New Homebuyers

Several Democratic senators have proposed establishing a program to sponsor low fixed-rate 20-year mortgages for first-time, first-generation homebuyers with incomes of 120% or less of their area median income. So reports Atlanta Agent Magazine.

capitol 32310 640Co-sponsored by Sens. Mark Warner (D-Va.), Chris Van Hollen (D-Md.), Raphael Warnock (D-Ga.), Tim Kaine (D-Va.) and Jon Ossoff (D-Ga.), the Low-Income First Time Homebuyers Act is billed as a way to help lower-income families, especially families of color, build sustainable wealth.

Under the program, the Treasury Department would work through Ginnie Mae to subsidize the interest rate and origination fees of these 20-year mortgages so the monthly payment would be competitive with a new 30-year mortgage insured by the Federal Housing Administration.

Read the full article from Atlanta Agent Magazine.

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