Submitted by Shawn Headlee 
Good afternoon all,
 
The mortgage world is still in a contraction this week. Wells Fargo just sent out an email that they will no longer do Home Equity Lines over 90%. The norm used to be 100%, but with those loans being too risky, they are getting eliminated. 100% financing still exists, but it is just one loan and is required to have Mortgage Insurance. This gives the lender more security is case the borrower defaults. Hopefully this will all settle down over the next couple of months.
 
Have a great week!