Pre-blog email #1

Great Afternoon!

Over the past few weeks there has been news about financial institutions around the country hurting. We have heard about IndyMac opening under the FDIC yesterday causing a small "walk" on the bank, we are hearing and seeing Fannie Mae and Freddie Mac's stock tumble and talk about more government regulation in the financial and mortgage industries. Wachovia has seen its stock drop over 50% in just a few weeks and some west coast banks are losing everything.

There is one bank that remains unaffected and that is BB&T.

While mortgage lenders and banks were making risky loans looking for quick profits and high returns, their practices may not have been in the best interest of their constituents. BB&T is different. We are a bank with a history of long term stability and growth. While other banks are taking losses and cutting dividends, BB&T is reporting earnings and increasing dividends.

One of BB&T's main strengths is our mortgage lending ability. We are one of very few banks left doing construction-permanent loans, stated income loans, and 100% financing. There is still money readily available for your clients who are looking to purchase a home or refinance their existing home.

The Charlotte Metro market remains strong despite reports of housing prices falling all over the country which leaves great opportunities for buyers and for sellers. If you or your clients have any mortgage questions, specific or general, please contact me at 704-243-7590. I am more than just a mortgage lender, I am a mortgage advisor. Make it a successful week!

Jon's Mortgage Spotlight of the Month
CHIP - Community Homeownership Incentive Program
This is a great loan for homebuyers looking for a primary residence. 100% financing is available with no PMI. This is a 30 year fixed mortgage. The CHIP does not have a credit score minimum and does allow for non-traditional credit references. If you or your client would like more information please contact me.


Jon Massachi
Mortgage Advisor
Branch Banking and Trust

Office: 704-243-7590
Cell: 704-650-9568
Fax: 704-843-1863
JMassachi@BBandT.com
BBT.com/mlo/JMassachi