Bay Area Mortgage Blog

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Mortgage and Lending - Platinum Home Mortgage Company - NMLS #238304
Small, easy to read mortgage tidbits from a California lender take you from application to approval in 300 words or less.

ARCHIVED BLOG POSTS

2008 

"Chad" (not his real name) THOUGHT he was one of the lucky ones. His house had sold, and the buyers were lender approved.Then the appraiser delivered the devastating news that caused the whole transaction to blow up: The appraisal on Chad's house could not include the entire 700 square foot downs...
02/29/2008
In my e-mail today from some of the other mortgage brokers in the office:First E mail:A friend of mine has a 2nd with Indy Mac. She owes 25k and has a line amount of 100k. THEY HAVE FROZEN HER ACCOUNT. I am starting to hear of this more and more. If you or a client has an existing 2nd that you th...
02/27/2008
So, RainerNation, what's a girl like me supposed to think when on a regular old Friday afternoon, amid all the normal mortgage madness, the phone rings and the caller identifies herself as one of the producers of ABC's "Good Morning America"?Check the caller ID. Yep, area code 212 (New York). Oh ...
02/23/2008
Yes, declining values have even hit the auto loan business.Here's a heads up: Those guys who finance cars? They don't want you to have one of those bad boy mortgages with a negative amortization feature.Over at our family's auto leasing company, one of our good credit buyers was mysteriously turn...
02/22/2008
****Good Morning America called me this morning and asked to interview the real "Jake". Jake agreed and will appear on Good Morning America tomorrow, (Saturday). Segment is on the housing crisis in California. Talk about the power of ACTIVERAIN! For anyone who wants to see the REAL "Jake", tune i...
02/21/2008
"What is this Big Box, Grandpa?""Oh, that? That's a file cabinet. We used to store papers in it.""Grandpa, what's paper?"Okay, I know we've been slinging the word "paperless" around for years. Then we snickered, went back to our desks piled with paper, laughed when our clients had to sign enough ...
02/19/2008
In this brave new mortgage world, where at least half of all sellers are either lending institutions or agencies that represent these lending institutions, can I just say this? I MISS THE "REAL SELLERS".You see sellers used to be real people who actually cared about closing on time. They had a re...
02/16/2008
Last night I watched with interest as ABC's Nightline did a feature on a neighborhood of McMansions in Southern California....or I should say: the demise of a neighborhood of McMansions? The mortgage crisis has TRAPPED the owners in their monster homes, unable to sell, and awash in negative equit...
02/08/2008
What is synergy anyway? Wikipedia defines it like this:A mutually advantageous conjunction where the whole is greater than the sum of the parts. A dynamic state in which combined action is favored over the sum of individual component actions. Behavior of whole systems unpredicted by the behavior ...
02/03/2008
The word EQUITYLINE has gotten a bum rap lately, just like plenty of other words in the mortgage business. Heck, not to digress, but we've even stopped saying STATED INCOME and instead come up with the more delicate term "reduced documentation". An equityline is most often mentioned referencing t...
02/01/2008
Rainmaker
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Janet Guilbault

San Francisco Bay Area Direct Mortgage Lender
local_phone(925) 212-6347
smartphone(925) 212-6347
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