Brian P.'s Blog

I doubt there's much dispute that the First Time Homebuyer Tax Credit was a raging success; both the introductory version and the "new and improved" one that extended the timeframe and expanded the home buyer status. It made home ownership possible, it raised consumer confidence, and it moved a n...

March 31st is upon us and the Federal Reserve Bank is poised to pick up their marbles and go home. They've spent those 1.25 trillion dollars on all those U.S. mortgage-backed securities and now they're getting out of the game. But who's picking up the slack? Amidst the cacophony of speculation, a...

It is no secret that mortgage loans and buying homes in Tampa Bay (or anywhere for that matter!) is more complex. There are a few things that may appear out of the home buyer's control, but both Realtors and home buyers need to control the things they can. One thing I just want to reinforce is to...

Just like Lennon and McCartney got "by with a little help from their friends" home mortgage expenses can get a little help from gift funds. The caveat with mortgage gift funds is that your clients need to follow the specific protocol to show where the assets came from and how they are transferred...

A common misconception that clients have is that the FHA makes loans, we know they don't. They insure loans. And FHA Loans are all about risk tolerance. If there is the slightest chance of rain, they're off the field and back into the dugout. One real estate arena where they have recently made th...

While I've never been a huge fan of government intervention, two of the smartest things they've ever done as far as the housing market is concerned was: to have the Fed purchase mortgage-backed securities to keep the interest rates down (this will come to a screeching halt by the end of the first...

Here we go again! In the mortgage industry, mortgage brokers have seen as many interpretations of rules as there are actual rules that govern the home mortgage business. As you guys know, seller paid contributions may or may not soon be downgraded from the current 6% of the home purchase price to...

As a mortgage broker in Tampa Bay, I've said it again and again, many factors contributed to the housing market mess. While placing home buyers in ill-fitting mortgage products and lending to others with reckless disregard for the risks they brought to the closing table are definitely two of the ...

In my experience, people throw others under the proverbial bus for one of two reasons: They themselves don't know what they're doing so they blame someone else They don't understand the intricacies of a situation so they look for an easy scapegoat to give a client an answer and make themselves lo...

Risk based pricing on mortgage loans; basically, that's the name of the game. Stated income is out and asset verification is in. As you guys know, the interest rate your clients receive on their home loan is determined by the mortgage lender's estimate of the probability that they as a borrower w...