News from a new source - I do not know how old it is though PS: same content as this one from oct 98.https://www.siliconinvestor.com/readmsg.aspx?msgid=5937526
The link that hold the information below is:
occ.ustreas.gov
Freddie Mac Pilot Program in Indian Country. Under a $10 million Freddie
Mac pilot program, which includes PMI Mortgage Insurance, AmeriResources
Technologies Inc. of Lenexa, Kansas, has agreed to work with the Chickasaw
Nation of Oklahoma to build new single family housing on nontrust land.
AmeriResources Technologies Inc., through its two subsidiaries, Tomahawk, a
construction company, and First Americans Mortgage Corp., a mortgage lender,
will offer a one-stop shop for construction and mortgage financing. The mortgages
will have a three percent down payment, with the buyer paying 1 percent and the
Chickasaw Nation providing 2 percent in the form of a second mortgage at 5
percent interest over five years. A loan-to-value ratio that exceeds 100 percent
would be allowed so that home buyers can finance some or all of the closing costs.
Mortgages can be made up to the Freddie Mac conforming loan limit of
$227,150. Home buyers who participate in the program must receive homeowner
counseling. The Freddie Mac seller-service for the pilot program is First
Tennessee Mortgage Corp. For further information, contact Delmar Janovec, chief
executive officer of AmeriResource at (931) 859-9292. |
