Mortgage Blogs
Jun 19, 2013
There are 5 moves that you don't want to do to your credit. We all know that we should make our payments on time but there are other ways to lower your credit score. If you have any questions about credit please feel free to contact me, DON'T CLOSE A CARD WITH A BALANCE. When you close your card the credit limit is Zero. Even if you have a small balance it looks like your card is maxed out. DON'T CLOSE THE CREDIT CARD WITH LONGEST...
Jun 19, 2013
Wednesday - June 19, 2013, 10:50 am ET Current trend Direction: Sideways Float/Lock Bias: Floating into Fed Meeting today – but get ready to Lock!!! Current Price of FNMA 3.0% Bond:$100.19, +7bp It’s Fed Day. So far it is all quiet. But be prepared – because at 2pm ET, the Fed will deliver its Monetary Policy Statement, then at 2:30 Ben Bernanke will hold a news conference. Not that i
Jun 19, 2013
Who shops for mortgages online? The new generation with smart phones. "It's more likely to represent a generational shift in shopping preferences as well. Those 18 years old to 34 years old are interested in buying their first homes--having grown tired of the paucity of choices available among rental units. Also, they are among the most comfortable as a demographic group shopping online: they prefer mortgage shopping through the web, to...
Jun 19, 2013
Idaho Mountain Mortgage, LLC is offering FHA Construction-to-Permanent loans for new manufactured and modular homes. Idaho Mountain Mortgage, LLC., Inc. offers FHA Construction to Permanent loans for new manufactured and modular homes. Our FHA One Time Close program provides construction financing, lot purchase and permanent loan, all wrapped up in one loan. Why worry about re-qualifying, re-appraisals or incurring additional costs?
Jun 19, 2013
Markets started out today generally unchanged as the world awaits the FOMC policy decision and Bernanke's press conference this afternoon. It isn't news that for the last six weeks, since the strong April employment report released on May 3rd that markets have been debating what the Fed may or may not do about cutting back in its QEs. That is a
Jun 19, 2013
We are a broker with 20 different lenders to choose from, here is what one of our Whosale lenders sends us everyday for low FICO borrowers.
Jun 19, 2013
Mortgage RatesAnthony HoodEquity Investment CapitalOffice: 949-891-0067Email: tony@equityinvestmentcapital.comwebsite: www.equityinvestmentcapital.com Markets started out today generally unchanged as the world awaits the FOMC policy decision and Bernanke's press conference this afternoon. It isn't news that for the last six weeks, since the strong April employment report released on May 3rd that markets have been debating what the Fed...
Jun 19, 2013
Looking at new products available to finance home purchases and ran into a Company in California that is offering 2/8 3/27 5/25 Arms for purchase down to 500 Fico score from $100,000 to $750,000. "Right now the program is available to mortgage brokers in California, Arizona, Oregon, Idaho, Colorado, Utah and Texas. While the rate sheet shows that loans are available in amounts from $100,000 to $750
Jun 19, 2013
Housing supply showing signs of stability feed inShare. by Diana Aqra | 19 Jun 2013 Housing starts are up, and inventory is finally showing signs of stabilizing. Two new reports have indicated that the low inventory that has dogged the housing market may be showing signs of improvement. Data released by the US Census Bureau and Department of Housing and Urban Development has indicated housing construction starts in May were up 6.8% ove
Jun 18, 2013
During periods of economic growth, when home values are typically just going up, most homeowners do not question appraisals much.And in times of turmoil when property values are declining, home sellers and even listing agents quite often question and pick apart appraisals.However, the actual appraisal process changed very little over the course of the housing boom and bust cycle American homeowners witnessed between 2001 - 2009. Since the topic...
Jun 18, 2013
A very common question for any consumer that might be considering refinancing an existing home loan or purchasing a new home is "Should I lock my mortgage rate?". This is a very important question and the answer can seemingly change from day to day, depending on what is going on in the markets. Your specific scenario in terms of your time-frame and specific needs can also play a role in answering this question. Sometimes the answer is rooted in...
Jun 18, 2013
Realtors® Call for Legislative Changes to New Rules Limiting Affordable Borrowing Options Media Contact: Jenny Werwa / 202-383-1193 / Email
Jun 18, 2013
HUD No. 13-096George Gonzalez202-708-0685FOR RELEASETuesdayJune 18, 2013HUD ANNOUNCES FIRST-EVER SAME-SEX HOUSING DISCRIMINATION STUDYResearch seen as important first step in identifying possible patterns of discrimination in rental housing
Jun 18, 2013
Published: Tuesday, 18 Jun 2013 By: Bruno J. Navarro
Jun 18, 2013
Let's Play "Connect the Dots" with your Mortgage! Questions from Underwriters regarding new accounts, transfers between accounts, and debts pop-up fairly frequently. Clients don't always seem to "connect the dots" between the actions they take ... and the possible consequences they may reap from those actions. Credit Bureaus are quite a different story. They're sensitive regarding actions and consequences. (Transactions and credit...
Jun 18, 2013
http://globalhomefinance.com Yesterday afternoon treasuries and mortgage prices were hit on a news story out of the Financial Times saying the Fed will begin tapering as early as three months frm now. Prior to the news story markets were generally unchanged ahead of the Fed policy statement tomorrow afternoon. The FOMC meeting begins today but there will be noth
Jun 18, 2013
Any mortgage loan other than an FHA, VA or an RHS loan is conventional one.FHA LoansThe Federal Housing Administration (FHA), which is part of the U.S. Dept. of Housing and Urban Development (HUD), administers various mortgage loan programs. FHA loans have lower down payment requirements and are easier to qualify than conventional loans. FHA loans cannot exceed the statutory limit. Go to FHA Programs page to get more information.If you are...
Jun 18, 2013
By James Brooks Tuesday's bond market has opened in negative territory following mixed economic news and a positive open in stocks. The stock markets are showing moderate gains during early trading with the Dow up 77 points and the Nasdaq up 21 points. The bond market is currently down 7/32, which would have pushed this morning's mortgage rates higher by approximately .125 of a discount point. However, afternoon weakness in bonds...
Jun 18, 2013
Numbers released by the Mortgage Bankers Association revealed that there has been an increase in the number of mortgage applications filed, even with the recent increase in mortgage rates. During the week ending on June 7th, the number of mortgage applications filed increased by 16 percent overall. While interest rates rose, so did the number of mortgage applications filed for both home purchases and home refinances. Refinance applications...
Jun 18, 2013
Mortgage Rates Subject To Federal Reserve Decisions The Federal Reserve is the U.S. central banker. It meets eight times annually to set our nation's monetary policy. Among the tools at the Fed's disposal is the Fed Funds Rate, a pre-set interest rate at which banks borrow money from each other overnight. When the Fed Funds Rate is low, banks pay less annual interest, freeing capital for investment in business and consumers. Conversely,...
Jun 18, 2013
Tuesday - June 18, 2013, 10:50 am ET Current trend Direction: Sideways Float/Lock Bias: Cautiously floating into the Fed, but read on Current Price of FNMA 3.0% Bond: $99.91, -22bp Mortgage Bonds are slipping ahead of the Fed meeting that begins this morning at 11:00am ET and will end tomorrow at 2:00pm ET with the monetary policy statement. A news conference by Fed Chairman Bernanke will follow at 2:30pm. There is a growing number of...
Jun 18, 2013
Mortgage RatesYesterday afternoon treasuries and mortgage prices were hit on a news story out of the Financial Times saying the Fed will begin tapering as early as three months frm now. Prior to the news story markets were generally unchanged ahead of the Fed policy statement tomorrow afternoon. The FOMC meeting begins today but there will be nothing frm it until tomorrow. Also tomorrow after the release of the policy statement Bernanke will hold...
Jun 18, 2013
Kentucky Mortgage Underwriting Guidelines updated for 2013 Applying for a Kentucky Mortgage in 2013 has changed a lot since the go go years of the mid 2000?s. Most Kentucky home buyers will need to gather and document the information upfront so you will have minimal problems once the underwriter issues your final mortgage loan approval . Let's look at some common underwriting issues that arises on the final mortgage approval .Earnest Money...
Jun 17, 2013
With the recent increase in home values, many homeowners have been capitalizing on the lowest rates in history before it's too late by taking advantage of one or more of the following refinance options: Lose Your Mortgage Insurance With rising equity, many homeowners are refinancing into lower rates & losing their mortgage insurance. We have programs that go up to 90% loan-to-value without mortgage insurance. Debt Consolidation Consolidate high inter
Jun 17, 2013
The Stock markets begin the week sharply higher ahead of this week's big event, the 2-day Federal Open Market Committee meeting. The meeting will begin on Tuesday morning and will end with a monetary policy statement being delivered at 2:00pm ET on Wednesday. The meeting will be followed by a press conference by Fed Chairman Ben Bernanke at 2:30pm ET and he may calm the fears of tapering the current Bond purchase program. In economic news,...
Jun 17, 2013
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Jun 17, 2013
Jun 17 2013 In The News: Wall Street Journal: Fannie, Freddie Future Finds a Focus Date: 06/17/2013 By Nick Timiraos Congress is gearing up to tackle an issue that Washington has mostly ignored for nearly five years:
Jun 17, 2013
How Communities Become Nicer Places to Live On June 17, 2013For the last several years NAR has been making tens of thousands of dollars a year available to s
Jun 17, 2013
Has the market recovered enough to attract the "house flippers" Yes it has because several markets are rebounding off the bottom. So what is house flipping? It is when you buy a distressed house, make mostly cosmetic repairs and sell it as fast as you can. There were a lot of investors who got caught with their flip when the market changed. So where are flippers being active? The Southwest states are offering great opportunities. States like...
Jun 17, 2013
Tuesday, June 11, 2013Your Credit Scores Can Never Be Too High (Credit Scores Simplified)By Brian CurlJune 11, 2013 Being in the mortgage business for 15 years and previously working as a certified Neighborworks Home Ownership Counselor, I've learned a few things about credit scores.Really, it is pretty simple to maximize your credit scores. By doing so, you will save on everything - credit cards, car loans, home mortgage loans and car and...
Jun 17, 2013
http://globalhomefinance.com The week started with stock indexes looking strong ahead of the 9:30 open and interest rates relatively unchanged from Friday's closes. This week is Fed week with the FOMC meeting ending Wednesday afternoon with the release of the policy statement immediately followed by Bernanke's press conference where he will face questi
Jun 17, 2013
Monday - June 17, 2013, 1:00 pm ET Current trend Direction: Sideways Float/Lock Bias: Floating ahead of the Fed Current Price of FNMA 3.0% Bond: $100.47, Unchanged Mortgage Bonds start the week near unchanged levels ahead of what is going to be an exciting week with the Fed Meeting wrapping with it's Monetary Policy Statement at 2:00pm ET on Wednesday. Of course, we will not see any change in the Fed Funds Rate, currently at 0.25%, but talk...
Jun 17, 2013
In January President Obama first announced the possibility of HARP 3 in his State of the Union address. With the HARP 3, borrowers who are underwater on their home loans will be able to refinance their mortgage even if their loan is not backed by Fannie Mae or Freddie Mac, unlike with the HARP 2. HARP 3 would make it possible for even more homeowners to refinance. The HARP or the Home Affordable Refinance Program was first released in 2009 to...
Jun 17, 2013
Bryan and Ashley decided they wanted to own their own home. "To the web" was their battle cry. They were overwhelmed with choices. What next?Having just moved to Raleigh they lived with Ashley's dad. He said "Calculate how much house you can afford & avoid this pitfall." Bryan could figure out how much they could afford, but what pitfall should they avoid?Calculate How Much House You Can Afford & Avoid this PitfallAshley's dad...
Jun 17, 2013
Market Update QUOTE OF THE WEEK... "The greatest weapon against stress is our ability to choose one thought over another." --William James, American psychologist and philosopher INFO THAT HITS US WHERE WE LIVE... Here are two thoughts that should relieve some stress for those of us working in the housing market. Fannie Mae's May 2013 National Housing Survey reported that the share of American's who think now is a good time to sell and...
Jun 17, 2013
By James Brooks Monday's bond market has opened flat despite sizable stock gains during early trading. The stock markets are starting the week off well in positive ground with the Dow up 167 points and the Nasdaq up 34 points. The bond market is currently unchanged from Friday's close, but you still may see a slight increase in this morning's mortgage rates if your lender did not revise higher late Friday. This is because the bond...
Jun 17, 2013
Milwaukee, Wisconsin Mortgage rates should have plateaued for now. A recent Rueters article suggest that the Fed may taper bond buying, but it may be limited to Treasuries. There is a feeling that keeping the housing market moving in right direction is the key to economic growth. This from Rueters: "Now, though, consensus is building among policy makers that the time is nearing to adjust their $85 billion-a-month asset purchase program, dubbed...
Jun 17, 2013
Mortgage Rates Anthony HoodEquity Investment CapitalOffice: 949-891-0067Email: tony@equityinvestmentcapital.comwebsite: www.equityinvestmentcapital.com The week started with stock indexes looking strong ahead of the 9:30 open and interest rates relatively unchanged from Friday's closes. This week is Fed week with the FOMC meeting ending Wednesday afternoon with the release of the policy statement immediately followed by Bernanke's press...
Jun 17, 2013
The Federal Housing Administration (FHA) runs several programs to promote home ownership. These programs are popular because they allow borrowers to buy a home with a smaller down payment than is required by most other lenders. FHA loans make it easier for people to qualify for a mortgage, but they're not for everybody. Almost anybody can qualify for
Jun 17, 2013
A Conventional Loan is one with no government ties like those offered with the backing of the Department of Veterans Affairs or the Federal Housing Authority. Two types of conventional loans include a secured loan, meaning one with collateral, and an unsecured or signature loan, one based on the creditworthiness and financial condition of the borrower. Se
Jun 17, 2013
CHDAP California Housing Down Payment Assistance Programs, helps homebuyers to buy a home with no money down. This is accomplished by using a FHA loan and a 3% CHDAP silent second.The CHDAP silent second has deferred payments until the property is sold or refinanced but is never entirely forgiven. The benefits of using a CHDAP program vs. most other down
Jun 17, 2013
If you're buying a home, chances are you'll need a mortgage, but did you know there are big differences between brokers and bank? In the past, prospective home buyers turned exclusively to their banks for their mortgage needs, but you now have more options at your disposal with the growing presence of mortgage brokers. Independent mortgage broke
Jun 16, 2013
by Ted RoodFriday Borrower Do's and Don'tsDecrease Font Size Text I
Jun 16, 2013
By James Brooks This week brings us the release of only four pieces of economic data that is relevant to mortgage rates, but one of them is a key inflation reading that is very important to the bond market. However, the theme of the week will be Fed-related with a FOMC meeting, economic forecasts and a press conference with Fed Chairman Bernanke. There is nothing of importance scheduled for Monday, so expect to see stock movement drive bond...
Jun 16, 2013
Using social media to market your business shouldn't take up most of your workday, but you do need to carve out some time for it. Understand the importance of social media to your business. You make time for social media because you know it's important. Take a good hard look at how you spend you day. A recent survey revealed that business people spend more than one fourth of a day(28%) dealing with emails. We're in meetings 19% of...
Jun 16, 2013
If current legislation that creates a path to legalization for 11 million undocumented immigrants is passed, the nation's Hispanic real estate leaders estimate that it would create a new pool of 3 million homeowners and pump more than $ 500 billion in sales, income and spending into the U.S. housing economy. The National Association of Hispanic Real Estate Professionals calculate that as many as 6 million undocumented immigrants are likely...
Jun 15, 2013
we are giving out loans for investment program. contact me Email: lnfo.rep@financier.com
Jun 14, 2013
This is the most common misconception that I encounter as a Loan Officer. Most people are under the impression that multiple credit inquiries in a short period of time will lower their scores. This is only partially true. The truth is: It depends on who is pulling your credit! What to know about "rate shopping." Looking for a mortgage, auto or student loan may cause multiple lenders to request your credit report, even though you are only looking...
Jun 14, 2013
There are many questions you might be asking at this time, particularly surrounding your home. We are here to help. Let's first break down some of the basics. "I think I want to stay in my home... what do I need to keep in mind?" First, take into consideration the size of the home, utilities, payments and family needs. Does staying in the home truly make sense? You will likely now be entirely responsible for the house payment, taxes,...
