The Mortgage Report

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Mortgage and Lending - NMLS License #113781
I'm here to educate homebuyers and/or sellers on topics related to mortgage lending and share fun and educational facts about the real estate market. My company, FirstTrust Home Loans, offers highly competitive rates through our direct to consumer lending channel (no middleman) known as “Direct Rate.” We do this with transparency, service, speed, and a human touch. To meet these requirements, we offer an engaging, concierge user experience. Our Direct Rate system provides an intuitive borrower portal that offers simple, transparent interaction, the ability to easily, safely, and securely upload and store documents with real-time status updates and the ability to engage with experienced lending professionals at any point in the process. We have been in business since 2003. Choosing a mortgage lender is a major decision, and at FirstTrust Texas, we take our jobs as lending professionals very seriously. Please consider us for an opportunity to earn your business. Hope you find my blog educational.
Mortgage Insurance has made it possible for home buyers to get in homes with little or no money down.  Changes this past week with many of the top pmi companies are going to make it much more difficult to buy a home without a large down payment unless you have a good credit score.  MGIC is one of...
Many loan originators watch the 10 year treasury note to get an indication of where mortgage rates are going.  If you followed the markets this week, you can understand why that is not a good thing to do.  Mortgage backed securities always drive mortgage lending rates--not the 10 year treasury no...
Down payment assistance appeared to be a thing of the past last year after HUD's ruling to no longer allow the program for FHA loans. Last week a court ruled in favor of Nehemiah Down Payment Assistance program in their court battle with HUD.  This means that sellers can better position themselve...
Many people think the recent passage of the Economic Stimulus Package only has an effect on higher priced markets like California, New York, etc.  However, the FHA loan limits are raised in all areas now.  Beginning March 6, HUD made changes to FHA loan limits to all areas of the country.  In my ...
Home prices and mortgage interest rates are really looking attractive now (in my area at least).  Do keep in mind, however, that Fannie Mae and Freddie Mac have recently implemented increased delivery fees and new loan-level price adjustments. For borrowers with scores below 680 you'll have to pa...
Fannie Mae and Freddie Mac, also known in the lending world as "the agencies" or GSE's (government sponsored enterprises), have amassed quite an extensive list of areas known as declining markets. FNMA & Freddie Mac have both restricted the maximum loan-to-value and combined loan-to-value ratios ...
Subprime mortgages have now been credited for bankrupting well over 200 lenders (see and seriously damaging operations at many major mortgage firms. They've reportedly wiped out 5 hedge funds, tens of thousands of jobs, and have led to millions of foreclosures with millio...

Kevin Whatley

Professional Mortgage Lender
local_phone(817) 930-2575
smartphone(469) 993-9395
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