RECENT BLOG POSTS
  CLAM’S PASS I love this beach ! I would rank this beach #1 in Naples. You can take one step into the water and the tide will take you to the other side of the beach.  The tide is very fast and fishing is Awesome. The area is very narrow and shallow in most spots. The mangroves add another beau...
07/30/2009
  We have a new program that was rolled out recently. We can do 100% financing for veterans with NO CREDIT SCORE. That’s right no credit score requirement. The debt vs income cannot exceed 41% ( DTI) to complete the loan. The products offered are 30 year Fixed, 3/1 & 5/1 Arms. Eligible properties...
07/30/2009
LOAN DOCUMENTS REQUIRED TO COMPLETE LOAN TRANSACTION ____ Original bank statements for the last 2 months. One quarter statement for IRA's stocks etc ____ Earnest Money Contract + cancelled check for deposit for purchases ____ Mortgage statement on the mortgage that we will payoff (if refinance) _...
07/28/2009
  Those who thought the massive Fed Bailout of Banks by both the current and previous Presidential Administrations would cure all our lending ills - are likely disappointed! Despite big cash infusions from Washington totaling hundreds of billions of dollars, the total amount of loans held by the ...
07/27/2009
  HVCC APPRAISALS ARE KILLING DEALS As of May 1, all home loans bought by Fannie Mae and Freddie Ma must follow the Home Valuation Code of Conduct.  Ten Reasons Why HVCC ( Home Value Code of Conduct) is hurting our markets. Appraisals are coming in well below market value or purchase price Apprai...
07/24/2009
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What is Red flag? As of November 1, 2007 the Federal and State governments have mandated that businesses dealing in the extension of credit be required to establish certain protocol and procedures for the remediation of Identity Theft matters associated with their clients.    The requirements inc...
07/23/2009
  MARKET UPDATE FOR NAPLES FLORIDA  Rates and oil prices rose as the stock market rallied. We continue to warn that the markets will be volatile. At least for now, these markets will continue to move in tandem. We think the gradual recovery may temper any strong recovery in oil prices or rates. H...
07/22/2009
The Home Ownership and Equity Protection Act (HOEPA) and the Housing and Economic Recovery Act (HERA) that were passed by Congress in 2008. The Federal Reserve Board published the regulations under the Truth in Lending Act. These regulations were written to provide more transparent, level and fai...
07/21/2009
ARE THE NEW HVCC APPRAISAL KILLING YOUR DEALS IN SARASOTA?   I AM NOT LOSING DEALS BECAUSE OF HVCC. I HAVE PORTFOLIO LENDERS WHO DO NOT REQUIRE HVCC.  BUSINESS AS NORMAL FOR ME. I ORDER THE APPRAISAL THROUGH MY APPRAISER RELATIONSHIP THAT WAS FORMED FIVE YEARS AGO. ITS THAT SIMPLE !   NATE TASSO ...
07/20/2009
This article is from the Mortgage Bank Assocation Sorohan, MikeMortgage Bankers Association President and CEO John Courson will testify this morning at a House Financial Services Committee hearing on the Obama Administration's proposed reforms for the real estate finance industry. The hearing foc...
07/15/2009
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