ARCHIVED BLOG POSTS
2009
Here's a blog from one of the head honchos at Active Rain which shows the online traffic for all major real estate brokerages. It seems the online brokerages are picking up steam. Very interesting. The real estate brokerages website traffic represented in this chart that are not dropping off a...
01/16/2009
Many people are quick to point out that FHA does not have a minimum credit score requirement in their underwriting guidelines. While this is technically true, virtually every FHA approved lender does impose a minimum credit score requirement for FHA loans because of increased losses on low FICO ...
01/16/2009
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I don't have to say that mortgages have changed dramatically over the last three years. Anyone that hasn't been living under a rock knows that. But the most significant change that many people don't realize is that stated income loans have all but vanished (aside from some hard money loans avai...
01/16/2009
Ever since it became public knowledge that Fannie Mae was in financial trouble, the agency has implimented "Loan Level Price Adjustments", which are basically add-ons to the rates, based on credit score, LTV ratio, CLTV ratio, loan purpose and also property type. On December 29, 2008, Fannie Mae...
01/15/2009
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This is a quickie, but a very important question that comes up quite often: How much does a $1000 increase (or decrease) in the loan amount change the monthly payment on a mortgage? Not that much, actually. Why is this question important in the first place? Buyers and realtors often negotiate...
01/10/2009
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I posted a blog about this a couple of months ago and wanted to give an update. On Saturday, November 15th, I went to the Bank of America ATM in Victory Park (the one right beside the Nine Steakhouse) and tried to withdraw $100 from the ATM. The machine made the usual noises that an ATM makes w...
01/08/2009