Foreclosures, American Home Mortgage, Fed Rates.

WASHINGTON - A majority of the nation's banks have tightened lending standards on subprime mortgages, the Federal Reserve said Monday in a survey that provided further evidence of the spreading problems in mortgage lending.

The Fed said it found that 56.3 percent of banks responding to a survey reported that they had tightened their lending standards for subprime mortgages, loans offered to borrowers with weak credit histories.

The survey found that 40.5 percent of banks responding said they had tightened loan standards for so-called nontraditional mortgages. The Fed defines this category as adjustable-rate loans with multiple payment options, interest-only mortgages and products referred to as "Alt-A" loans that offer such features as limited verification of incomes.

All of these things might be enought to get some agents down but not me.  I just talked on the phone with a new agent here in town.  He is a machine.  He knows no-one.  He has lived here for only 6 weeks but he has been on the phone 3 hours a day calling FSBO's to get listing.  (5 so far)  His last seller was so happy the sent flowers to Keller Williams to thank him.  WOW. 

What does all this mean.  Today i am so tired all i want to do is sleep.  However his work has inspired me to make this week great.  What an insperational guy.  While all these people are worried the sky is falling there is a guy in Fort Collins Colorado who is going after the business.  I am not sure he knows the Sky is falling because he keep his head down and works his leads.  Now because of his example there are two guys!  Thanks Nate!

Don't tell Nate calling FSBO's doesn't work he has five signs in yards that says different!