Dora Griffin's Blog

Searching for a Northern Kentucky Mortgage Broker When searching Google for a Northern Kentucky Mortgage Broker I've noticed several names come up in this category who are not really "brokers".Mortgage brokers have several different lenders to choose from and a variety of products. As a mortgage ...

Income evaluation and home buying I've had a couple of experiences recently that have created situations that could easily be avoided. I, like most loan originators and real estate agents, love smooth transactions. We want everyone to walk away happy after closing.A few months ago I was working w...

DOCUMENTING GIFT FUNDS FOR HOME PURCHASE Many folks use gift funds to buy a home these days. Sometimes a gift is absolutely necessary due to available assets and sometimes a family  member just wants to be generous. ALL the time it is necessary to document those funds if they are included in the ...

IS A HOME PURCHASE ON YOUR 2017 DO TO LIST?If a home purchase is on your 2017 TO DO list then now is the time to begin to prepare if you have not already done so.  Step One to purchase home in 2017  contact a lender to get some basics as to what you will need in order to make a home purchase a re...

LOW DOWN PAYMENT HOME LOANS ARE BACK For home buyers looking to purchase a home with little or no down payment low down payment programs are available. Before the housing collapse I did many loans where no down payment was required. After the collapse these went away except for the government pro...

DON'T QUIT YOUR JOB!!! One of the last things a mortgage lender will do is verify if the parties to the mortgage loan are still employed. This takes place at the end of the loan approval and before closing takes place. So, don't quit your job if you want to close on your home purchase or refinanc...

WHY DOES UNDERWRITING NEED THAT? For those of us who have been in the business for a long time we've run into this question "why does underwriting need that?" many times. When someone is pursuing a mortgage loan the lender will provide the documents in the file to an underwriter for approval. Und...

APPRAISER SHORTAGE If there was any doubt about an appraiser shortage it was dispelled with an email from Coester appraisal management company last week. The email states there has been a 23% reduction in active appraisers since 2007. I've written about a potential shortage in the past. It is sim...

APPRAISAL MANAGEMENT COMPANIES - Dumbing down of customer serviceAnyone who is in the real estate business as an agent or as a loan officer is familiar with appraisal management companies. AMC's as they are known came about when Andrew Cuomo of New York fame cut a deal to not prosecute for known ...

 LARGE DEPOSITS WHEN BUYING A HOMEOne of the most common "issues" when buying a home is properly documenting large deposits. The first question is "what is considered a large deposit"?. Lenders have guidelines that determine when they will ask about a large deposit.Before we get to the large depo...