ARCHIVED BLOG POSTS
2011
6
Comments
Yes, it is true. FHA mortgages for 580+ FICO borrowers are making a comeback. In the last 2-3 years, the minimum credit score requirement for FHA loans has changed many times. Just a few short years ago, there was no minimum credit score required for an FHA mortgage. Soon, most all mortgage c...
01/31/2011
6
Comments
What a difference a few days can make. The turmoil in Egypt continues to dominate the national news. It was just two weeks ago today that I was in Port Said, Cairo, the Pyramids of Giza and Alexandria. Egypt was the last stop on our 11 night cruise to the Eastern Mediterranean. Just yesterday...
01/30/2011
As we begin 2011, underwriting guidelines remain the tightest that many in the mortgage and real estate industries have seen in recent years. Today's rules/requirements echo those of the pre-2000 era. Given that a great number of today's players in the real estate industry have been in the indu...
01/04/2011
The first Sunday in January is typically a big closing day for Broadway shows. Today was no exception. A number of shows on the Great White Way lowered their curtains today for the final time. Some show closing days are: Bloody Bloody Andrew Jackson Donny & Marie: A Broadway Christmas Brief En...
01/03/2011
How Much Money Do I Need to Bring to Closing? This is a question that gets asked early on with every closing. The reality is that its too early to have an exact amount. At the time of your loan application, you are provided with an estimate that details your total estimated settlement charges....
01/02/2011
2
Comments
Why does it sometimes seem that underwriting guidelines vary from mortgage company to mortgage company? Well, it is because, sometimes they do. Each agency (Fannie Mae, Freddie Mac, FHA, VA, USDA) sets the minimum guidelines for the approval of a mortgage that they will back if it defaults. An...
01/01/2011
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Rodney Mason, VP of Mtg Lending
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