Marc Brinitzer's (merlin) Blog

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Mortgage and Lending - Big Valley Mortgage - NMLS#220931, DRE#00899544
RECENT BLOG POSTS
Yesterday from First Franklin….. First Franklin no longer allows loans at >95% LTV. This applies to all doc types. Loans at >90% LTV have a maximum loan amount of $500,000 and require a minimum 680 FICO. This applies to all doc types. 90% loans are not available for first time homebuyers. To qua...
07/31/2007
This is the final post in a series designed to help agents prevent fallout that can occur when you work with an unknown lender.  Part I was aimed at down payment.  Part II was all about income.  Part III focused on credit, and Part IV on pre-approval.  Today we’ll find out who our client is work...
07/26/2007
In one of the biggest overreactions to mortgage lending problems, the State of Minnesota has passed legislation outlawing stated income mortgages. On April 20, the state legislature passed House File 1004 and Senate File 988 aimed at limiting abusive home lending practices. But did they go too f...
07/25/2007
The humor of this mixed metaphor aside, the quote from Chris Thornberg of Beacon Economics points to a serious weakness in California’s economic outlook.  Taken from Dale Kasler’s Sacramento Bee article today entitled Housing Clouds Economy, both writers question the strength of our job market a...
07/22/2007
Okay, after covering down payment, income, and credit in Parts I, II, and III, let’s move on to the fourth important question. Question #4: Are You Pre-Qualified or Pre-Approved? When I speak with Realtors, there is inevitably some question about the difference.  And lenders will frequently take...
07/21/2007
Through the years, I have helped many parents purchase homes or condo’s for college bound children.  Because of the high demand for housing around college campuses, this has often proven to be a great investment.  Last year, my son lived in an 8 bedroom house near San Diego State University wher...
07/20/2007
This is the third in a series of posts designed to help prevent fallout when dealing with buyers that bring their own lenders to the deal.  Part I discussed down payment, and Part II income documentation.  No one wants to start a new client relationship off with an argument about lenders. But if...
07/17/2007
The 30 year conforming fixed rate mortgage ended the week at an average 6.73 with .6 points in the Western U.S. according to Freddie Mac’s weekly survey. BENEATH THE WAVES Peering beneath a placid surface, the water is pretty churned up.  One week, retail sales are up and consumer sentiment is d...
07/14/2007
The PMI Mortgage Insurance Company has published its Summer 2007 Economic Real Estate Trends. For Sacramento area home owners, the news is not good. While PMI’s previous model was tuned for the rapid appreciation of the first half of the decade, the revised model gives more weight to current pri...
07/10/2007
This series was inspired in part by a friend who is a very successful Realtor.  He maintains that 90% of the fallout today is caused by bad lenders.  With so many new folks in the business, there are plenty of incompetent and unscrupulous people.  Some are your client’s friends, some family memb...
07/05/2007
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Marc Brinitzer

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