True Communication is the Key

With many areas in the Houston(TX) area at LESS than 2 months' inventory - there is a little known  secrect for keeping the Buyer interested: suggest that they consider a Renovation 1st purchase mortgage. Why? For example: Buyer LOVES the home - Except: wife says the Kitchen is outdated, or husba...

Well, there I was - visiting realtor Open Houses...this weekend - and I was asked: "How quickly can you close VA loans"? I told her that I quote 28-30 days on gov loans, but would double check. Come to find out that YES, we can close in 30 days or less...(straight from the horse's mouth...) I did...

So, here I thought we had to wait 90 days or 6 months or in some cases 12 months - to financea home that someone has "flipped" and is Selling. Well, surprisingly (just found out from Underwriting) that the seller just has to be on title for 30 days. (and, of course, if there are multiple flips in...

I was very surprised in a meeting with our SVP of gov lending last Friday.I found out that we have the ability to: - Do FHA loans with a Credit Score BELOW 620 (it has to make sense)- Do FHA loans that have a “Refer” in the AU (automated underwriting) findings- Do FHA loans with a DTI? (Debt To I...

So, last year I worked for a different bank and I lost a loan to a great client, but he wanted to have a pool built right after he bought the home (and include the cost in the 1st mortgage). As you can guess, I was not able to do the loan and he went somewhere else. GOOD News! I can now do those ...

Wondering "why" your Mortgage Rates have been inching up? Look around; even though the technical unemployment rate has gotten better, there are still many MBA graduates flipping burgers or working in positions that don't match their education. Making ends meet has not gotten a lot better, on a na...

Yesterday, Chicken Little ran down the street proclaiming the "sky is falling" (bond markets were tanking) ; today things are better; the NFP (non farm payroll) numbers came in lower than expected  - so there is now hope that the Bernanke FED's scheduled reduction in bond buying may be put off fo...

The “Taper”:As the tumult continues in bond markets and the ever increasing likelihood of the “Taper” coming into play sooner than later (expect the announcement by the FED on Sept. 18th) – mortgage rates have started to climb again. Most analysts are considering this a precursor of what is to co...

For those looking for a prognostication of where Mortgage Rates are headed, you can add my Vote with those that say Rateswill go Down after the FED meeting this week. With Japan struggling (and a stronger YEN), China's economy definitely slowing, European equity markets on the slide (for 4 straig...

OK, so I'm having a conversation with a Prospect and he says, "Yeah, I've been PreApproved by XXXX and YYYYY mortgage companies." (I'm a mortgage originator and would like to do his loan; he's easy to get along with and calls back right way - BUT, he's Self-Employed). So, I ask, "Did you provide ...