In case you haven't heard, we have some major controversy brewing yet again in the mortgage industry. The topic is that effective 5/1/23, there will be significant changes to the "pricing adjustments" levied to Borrowers on Conventional (aka Conforming) Loans.Essentially, HIGH FICO Borrowers wil
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04/23/2023
Are Borrowers with high FICO (Credit) Scores going to start paying higher rates than Borrowers with low FICO (Credit Scores)? The answer is no, but also yes. Allow me to explain.Understanding "Pricing"There are 2 different ways that every Borrower pays when they obtain a mortgage, which are as f
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04/22/2023
“Unlock the Secrets to Successful Co-Parenting with 25+ World-Class Experts at the Co-Parenting Success Summit!”Co-parenting can be a difficult journey, especially when the relationship with your ex-spouse is strained or acrimonious. However, it's possible to navigate this journey successfully an
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04/07/2023
How can something so good for some, be so bad for others? Is the new CalHFA “California Dream for all Shared Appreciation Loan” BAD for Homebuyers? First off, here are a few facts of the program: Official program guidelines will be published on Monday March 27th (2 days from now)…that said, I’ll
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03/25/2023
There are 4 "milestones" in the creation of a mortgage from start to finish, which are as follows: PROCESSING - the initial stage where the Lender takes a close look at the Borrower "on paper" by pulling credit and gathering such documents as Paystubs, W2 Forms, Tax Returns, Bank Statements, etc.
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03/03/2023
Knowing the truth behind mortgage quotes has never been more important. As part of the MORTGAGE DEEP DIVE video education series, The Truth Behind Mortgage Quotes takes an in-depth look "behind the curtain" of how mortgage quotes are actually customized and quoted (and how consumes may be duped i
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03/02/2023
Will Low Unemployment Figures Prevent A Recession in 2023? According to Treasury Secretary Janet Yellen, "You don't have a recession when you have 500,000 jobs and the lowest unemployment rate in 50 years." With the unemployment rate at 3.4% (the lowest since 1969), is Ms. Yellen correct?CEO's th
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02/09/2023
Real Estate Professionals are no doubt all-too-familiar with the Real Estate Settlement Procedures Act (RESPA), but are you aware of some of the not-so-obvious violations?In short, the chart below lists some violations that may seem harmless, but they are indeed putting multiple parties at risk e
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02/08/2023
What are some of the psychological impacts of a Divorcing Couple dealing with the marital home? In this interview, Dr. Sue Cornbluth, Clinical Psychologist interviews Certified Divorce Lending Professional (CDLP) and Certified Divorce Real Estate Expert (CDRE) Jason Gordon to discuss the need to
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02/02/2023
Can I use rental income to qualify for a loan? Seems like a clear and concise question, but the answer will vary depending on the overall characteristics present. Below is a grid referencing Fannie Mae & Freddie Mac "Conforming" (aka "Conventional") underwriting guidelines. As you can see, Len
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12/21/2022
