Two area school recognized by U.S. Department of Education
By MARK AGEE Two area schools are being recognized for academic excellence by the U.S. Department of Education.The Northwest district's Samuel Beck Elementary School and St.
Wednesday, September 10, 2008
Monday, September 8, 2008
What the Federal Takover of mortgage giants means to you.
What rescue means for mortgage rates
Bailout of mortgage giants should result in lower mortgage costs and make credit more available. But lending standards will stay tight and risky borrowers will still pay extra fees.
NEW YORK (CNNMoney.com) -- Mortgage applicants rejoice!
Sunday's federal takeover of Fannie Mae and Freddie Mac will likely translate into lower mortgage rates and greater availability of credit, experts said. Rates could drop by 1 percentage point from the stubbornly-high 6.39% for a 30-year fixed rate mortgage.
"This could be good for would-be homeowners," said Tom LaMalfa, managing director, Wholesale Access, a research and consulting firm. "It would reduce the cost of financing at the new and improved Fannie and Freddie."
The government bailout is aimed at making mortgages easier to obtain and afford. By shoring up the mortgage financing giants, they can continue buying mortgages from lenders and injecting much-needed cash into the system.
"Fannie Mae and Freddie Mac are crucial to turning the corner on housing," said Treasury Henry Paulson. "Therefore, the primary mission of these enterprises now will be to proactively work to increase the availability of mortgage finance. Our economy and our markets will not recover until the bulk of this housing correction is behind us."
But the news isn't all good. With Friday's report that foreclosures and delinquencies are at all-time highs, Fannie and Freddie are expected to maintain - if not ratchet up - tighter lending standards. And the fees they have introduced for borrowers with weaker credit histories won't go away anytime soon.
High borrowing costs
Mortgage rates borrowers pay are dependent on the yields that investors demand when buying mortgage-backed securities from Fannie and Freddie.
Investors' doubts about the companies' viability have sent interest rates on those securities soaring. Despite regulators' July promise that they would step in to save the mortgage companies, investors are still demanding rates of 2.25% to 2.45% above Treasuries, LaMalfa said. Historically, the spread has been 1.25%.
With the government now taking over the companies and minimizing the risk associated with their debt, investors may be willing to ease off their need for higher rates.
High borrowing costs have led, in part, to a decline in mortgage borrowing. Applications are down 27% from a year ago, according to the Mortgage Bankers Association.
Also Fannie (FNM, Fortune 500) and Freddie (FRE, Fortune 500) will likely reverse their recent pullback from the mortgage markets. In early August, when they reported just over $3 billion in combined second-quarter losses, both said they would scale back their purchases of mortgage securities to preserve their capital.
Tight standards and fees will remain
Borrowers, however, shouldn't expect the ever-tightening lending standards to ease. With defaults and delinquencies multiplying and home prices falling, Fannie and Freddie will likely keep a close eye on underwriting practices. Lenders are demanding credit scores above 700 these days, up from 620 in the past, and downpayments of 20%, up from zero in some cases, experts said.
The mortgage titans have also increased their fees in hopes of shoring up their finances. Just last month, Fannie Mae announced higher surcharges for loans to weaker borrowers. For instance, applicants with credit scores between 640 and 659 who are putting down 15% to 20% will pay an additional 2.25% charge.
The same borrower would pay 1.7 percentage points mor e because of higher fees and rates for the same loan today as he or she would have paid 18 months ago, LaMalfa said.
If the market continues to worsen, standards could further tighten and fees could rise more, he said.
"We may have more stringent standards over the next few weeks because of the continued deterioration," he said. "We don't know where the bottom is yet. It's a falling knife."
Also, while investors have initially cheered regulators' moves in the past, their confidence has been short-lived. It remains to be seen whether and for how long Sunday's action will placate them, said Kurt Eggert, law professor at the Chapman University School of Law. And if investors' spook again, rates will rise.
"If I were an investor, I'm not sure this would be enough to make me want to jump in with a lot of money," Eggert said.
First Published: September 7, 2008: 2:53 PM EDT
Bailout of mortgage giants should result in lower mortgage costs and make credit more available. But lending standards will stay tight and risky borrowers will still pay extra fees.
NEW YORK (CNNMoney.com) -- Mortgage applicants rejoice!
Sunday's federal takeover of Fannie Mae and Freddie Mac will likely translate into lower mortgage rates and greater availability of credit, experts said. Rates could drop by 1 percentage point from the stubbornly-high 6.39% for a 30-year fixed rate mortgage.
"This could be good for would-be homeowners," said Tom LaMalfa, managing director, Wholesale Access, a research and consulting firm. "It would reduce the cost of financing at the new and improved Fannie and Freddie."
The government bailout is aimed at making mortgages easier to obtain and afford. By shoring up the mortgage financing giants, they can continue buying mortgages from lenders and injecting much-needed cash into the system.
"Fannie Mae and Freddie Mac are crucial to turning the corner on housing," said Treasury Henry Paulson. "Therefore, the primary mission of these enterprises now will be to proactively work to increase the availability of mortgage finance. Our economy and our markets will not recover until the bulk of this housing correction is behind us."
But the news isn't all good. With Friday's report that foreclosures and delinquencies are at all-time highs, Fannie and Freddie are expected to maintain - if not ratchet up - tighter lending standards. And the fees they have introduced for borrowers with weaker credit histories won't go away anytime soon.
High borrowing costs
Mortgage rates borrowers pay are dependent on the yields that investors demand when buying mortgage-backed securities from Fannie and Freddie.
Investors' doubts about the companies' viability have sent interest rates on those securities soaring. Despite regulators' July promise that they would step in to save the mortgage companies, investors are still demanding rates of 2.25% to 2.45% above Treasuries, LaMalfa said. Historically, the spread has been 1.25%.
With the government now taking over the companies and minimizing the risk associated with their debt, investors may be willing to ease off their need for higher rates.
High borrowing costs have led, in part, to a decline in mortgage borrowing. Applications are down 27% from a year ago, according to the Mortgage Bankers Association.
Also Fannie (FNM, Fortune 500) and Freddie (FRE, Fortune 500) will likely reverse their recent pullback from the mortgage markets. In early August, when they reported just over $3 billion in combined second-quarter losses, both said they would scale back their purchases of mortgage securities to preserve their capital.
Tight standards and fees will remain
Borrowers, however, shouldn't expect the ever-tightening lending standards to ease. With defaults and delinquencies multiplying and home prices falling, Fannie and Freddie will likely keep a close eye on underwriting practices. Lenders are demanding credit scores above 700 these days, up from 620 in the past, and downpayments of 20%, up from zero in some cases, experts said.
The mortgage titans have also increased their fees in hopes of shoring up their finances. Just last month, Fannie Mae announced higher surcharges for loans to weaker borrowers. For instance, applicants with credit scores between 640 and 659 who are putting down 15% to 20% will pay an additional 2.25% charge.
The same borrower would pay 1.7 percentage points mor e because of higher fees and rates for the same loan today as he or she would have paid 18 months ago, LaMalfa said.
If the market continues to worsen, standards could further tighten and fees could rise more, he said.
"We may have more stringent standards over the next few weeks because of the continued deterioration," he said. "We don't know where the bottom is yet. It's a falling knife."
Also, while investors have initially cheered regulators' moves in the past, their confidence has been short-lived. It remains to be seen whether and for how long Sunday's action will placate them, said Kurt Eggert, law professor at the Chapman University School of Law. And if investors' spook again, rates will rise.
"If I were an investor, I'm not sure this would be enough to make me want to jump in with a lot of money," Eggert said.
First Published: September 7, 2008: 2:53 PM EDT
Friday, September 5, 2008
Trophy Club Country Club
Trophy Club Country Club is nestled in the Dallas/Fort Worth's rolling and picturesque countryside and is home to the only course golf-great Ben Hogan ever designed. Woven through the surrounding native landscape of decades old oak trees, it is demanding and serene at the same time. Trophy Club offers an exclusive country club tradition and an active family-oriented environment. Along with the 18 holes of golf masterminded by Hogan, Trophy Club is also home to the equally challenging Kathy Whitworth Golf Course designed by Arthur Hills. Trophy Club Country Club is proud to be the home club of legendary LPGA golfer and Golf Hall of Fame Member, Kathy Whitworth, for more than 20 years. The Club houses the majority of Kathy's trophies from her 88 tour victories, which still holds the record as the most tour victories by any professional golfer, male or female. Displayed in a beautiful trophy case in the main dining area are pictures, trophies and other incredible memorabilia from her years on tour with the LPGA. If you are more inclined to spend time off the course, our tennis programs are unprecedented in the Metroplex. You can also find yourself relaxing by our Jr. Olympic-sized pool, sweating it out in the fitness center with a personal trainer or hosting a meeting in our private meeting space. Members can look forward to entertaining in either formal or casual dining rooms with a golf course view and exceptional dining offerings. Or, a simple cold drink and snack after coming off the course or the courts is sometimes the best way to relax. Trophy Club Country Club is a place to meet new friends and strengthen ties with old friends. Social activities for the entire family abound! Come be a part of our great heritage and tradition. The Members and staff at Trophy Club Country Club invite you to join us. You are cordially invited to participate in the world's largest one-day charity golf and dining event, The ClubCorp Charity Classic: Celebrating a Legacy. Read more or sign up! createHeader( "medium_header.swf", "Club Happenings", "club_happenings_title1", "#AA6016", 165, 15, "h3" ); Friday, September 5 Prime Rib Night Sunday, September 7 Sunday Brunch Friday, September 12
Click On the Link Below to go directly to Trophy Club Country Club
http://www.clubcorp.com/club/scripts/section/section.asp?NS=PCH&MFCODE=TRCCC&SUBGRP=15
Click On the Link Below to go directly to Trophy Club Country Club
http://www.clubcorp.com/club/scripts/section/section.asp?NS=PCH&MFCODE=TRCCC&SUBGRP=15
Local Media Sources
Texas USA News Media
Find Texas newspapers, magazines, radio and TV stations by city below, or see all:
Texas newspapers
Texas TV stations
Texas news radio stations
Texas major media
Click Link Below to see all the Mondo Times has to offer!
http://www.mondotimes.com/1/world/us/43
Find Texas newspapers, magazines, radio and TV stations by city below, or see all:
Texas newspapers
Texas TV stations
Texas news radio stations
Texas major media
Click Link Below to see all the Mondo Times has to offer!
http://www.mondotimes.com/1/world/us/43
A Look at Northwest ISD's Second High School
Name: Byron Nelson High School
Location:
2007 Marshall Creek Rd.
Trophy Club
(Northeast of Medlin Middle School)
Mascot:
Bobcats
Colors:
Royal blue and black
Construction Began:June 2007
Opening Date: August 2009
Grade Configuration: Freshman and Sophomore classes in August of 2009, adding a freshman class each year until all four grade levels are complete.
Building Architects: Corgan Associates
Construction Manager: Charter Builders
To read more about the new high school visit,
http://www.nisdtx.org/12071042616198250/blank/browse.asp?a=383&BMDRN=2000&BCOB=0&c=64446
Location:
2007 Marshall Creek Rd.
Trophy Club
(Northeast of Medlin Middle School)
Mascot:
Bobcats
Colors:
Royal blue and black
Construction Began:June 2007
Opening Date: August 2009
Grade Configuration: Freshman and Sophomore classes in August of 2009, adding a freshman class each year until all four grade levels are complete.
Building Architects: Corgan Associates
Construction Manager: Charter Builders
To read more about the new high school visit,
http://www.nisdtx.org/12071042616198250/blank/browse.asp?a=383&BMDRN=2000&BCOB=0&c=64446
Northwest ISD
Welcome to the Northwest ISD Web site
Northwest ISD is rapidly becoming one of the fastest growing school districts in the state. Located north of Fort Worth and west of the Dallas metroplex, Northwest ISD has a vision of becoming the best and most sought-after school district in Texas.
The Northwest Independent School District covers more than 232 square miles and serves 14 communities. The district of about 11,940 students is expected to double in size during the next five years and have as many as 93,000 students by 2027.
Northwest ISD has one high school, three middle schools, 13 elementary schools, a special programs center and a community-based youth residential program.
Click on the link below for the rest of North West ISD information.
http://www.nisdtx.org/northwest/site/default.asp
Northwest ISD is rapidly becoming one of the fastest growing school districts in the state. Located north of Fort Worth and west of the Dallas metroplex, Northwest ISD has a vision of becoming the best and most sought-after school district in Texas.
The Northwest Independent School District covers more than 232 square miles and serves 14 communities. The district of about 11,940 students is expected to double in size during the next five years and have as many as 93,000 students by 2027.
Northwest ISD has one high school, three middle schools, 13 elementary schools, a special programs center and a community-based youth residential program.
Click on the link below for the rest of North West ISD information.
http://www.nisdtx.org/northwest/site/default.asp
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