Mortgage News

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Mortgage and Lending
News from all over the mortgage industry that I find important for all real estate related professionals and customers.
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That is the title to my journal entry for today... Topic for the day is the same as yesterday:  Direction, Admonition and Humility Scripture - When Joab had come near her, the woman said, "Are you Joab?" And he replied, "Yes." She said to him, "Listen to what your maidservant has to say."  He rep...
09/04/2008
Do you remember the day?  100% stated income/stated assets non-owner occupied loan 90% No Documentation Loan 75% We don't care Loan Back to reality - 100% USDA Rural Housing Loan - property and income must qualify. 97% FHA Loan - Borrower contributes at least 3% (can be a gift) 80% Stated Income ...
09/03/2008
I was approached by a fellow loan officer about her concern about me targeting reverse mortgages to jump start my business...I will say that she started out saying that although she is afraid of the mortgage product because it slowly eats away at the equity of the older persons home, she would be...
09/02/2008
We had a few agents come in and out of the office today, but no referrals for pre-approvals :(  I don't see myself giving up on going in on Saturday anytime soon though, because I know that I can be a value to the realtors at the office but it may just take some time for them to get used to me be...
08/30/2008
Well, if your reading this over the weekend, it means that you didn't have plans for the labor day weekend or you didn't have the money to make plans.  If you reading this on Monday/Tuesday, congratulations, you have survived the weekend, with your significant other telling you that you should fi...
08/30/2008
I wanted to make a few comments about the book that I am still in the process of studying.  It is, of course, the MREA. There are of course a few things that are unrelated to my business, like leads I need, but listings I don't do, and leverage is something that will naturally come when I close m...
08/28/2008
I don't know if everyone else has noticed but the Federal Housing Authority is now advertising on Active Rain...What does this mean to us?  It means that the government is actively moving to show the real estate world that they are here to support us getting the market moving again.  It is obviou...
08/27/2008
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This is a message going out to everyone that decided to get into an adjustable rate mortgage, whether it was on some bad advice from a loan officer or of your own choice.  Even if you are in a 30 year fixed rate mortgage and you can't afford the payment anymore.  Here is the news, the bank does n...
08/26/2008
To follow up on my previous blog about the King Estate Winery...We visited the Sweet Cheeks winery when we left King Estate, and the views were just as breathtaking and the little picnic lunch for $15 was well worth it...Besides the lunch, they were still tasting the "Rosy Cheeks" that I thought ...
08/25/2008
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I was going to sit down and write a blog about the "Follow the Money" report that I listened to on the radio this morning.  However, my mother always told me that if you don't have anything good to say, then don't say anything at all.  Speaking of my mother, she was up from Tampa for the last two...
08/23/2008
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