The Rebound In Real Estate Cannot Happen Until The Current Leadership Wakes UP

June 12, 2010

As a mortgage originator I am extremely disappointed with regards to the way Barney Frank and friends are handling the free fall in the Real Estate crisis. Since the approval of the new good faith estimate (GFE 2010) things have become confusing enough for the buyers that they are simply walking away from the transactions. [...]

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Good Faith Estimate 2010

June 8, 2010

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Two Credit Reports Are Now Required For the Underwriting of Mortgages

June 5, 2010

In May Fannie Mae, the largest purchaser of home loans, announced a new requirement prior to the funding of a Mortgage. This was published on Mortgage News Daily on May 10th. The new quality control measure was set in place for the safekeeping of the investors against the prospective buyer assuming more debt that they [...]

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Others Are Acting Quickly…Don’t Miss This Opportunity (05-24-2010)

May 25, 2010

Others Are Acting Quickly…Don’t Miss This Opportunity Many of my clients are saving a lot of money by taking advantage of the unusual opportunity that exists right now, and I wanted to make sure you didn’t miss out. Interest rates have rallied and improved dramatically on the heels of the recent European debt concerns…and what [...]

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Staycation, If You Could Choose a Permanent Vacation Home Where Would You Go?

May 10, 2010

Wikipedia defines staycation as, “A staycation (also spelled stay-cation, stacation, or staykation) is a neologism for a period of time in which an individual or family stays at home and relaxes at home or takes day trips from their home to area attractions. Staycations have achieved high popularity in the US during the financial crisis [...]

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So You Made The April 30th For The $8,000 Tax Credit, Now What?

May 10, 2010

Kenneth Harney,  a syndicated newspaper writer, that I look forward to reading every Sunday morning had an article that should have appeared in every local newspaper. His article provoked several thoughts with regards to the mad rush for the $8,000 tax credit. During the last week of April I received a number of requests for [...]

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Mortgage Rates. Where Are They Going?

April 10, 2010

Here we are. The fed has fulfilled his commitment with the purchase of $1.25 Trillion, we had a rocky week with the auction of the Treasuries, the $8,000/$6,000 tax credit for home buyers is winding down and rates seem to be holding up. Yes they have gone up slightly but nowhere near the abrupt increases [...]

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Housing’s Roaring Rebound?

April 8, 2010

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The Great Debate of The Mortgage Principal Writedowns

March 26, 2010

Yesterday, Thursday March 25th, the White house announced a new initiative to be revealed at 10:00am Friday. Immediately upon the release of the report, blogs went crazy with arguments for an against: “Why should I pay for others’ mistakes?” or “It’s about time”. The new plan from the administration is focused on giving lenders incentives to reduce principal balances for individuals [...]

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Is this the Beginning Of The Mortgage Rate Hikes

March 24, 2010

Until today rates had remained pretty tame. Lower than they had been since the beginning of the year. As the day progressed several alerts came through my email account about potential re-pricing for the worse. All in all from the beginning of the day until the close of the bond market rates went up approximately [...]

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