TOO MUCH REGULATION???
The upcoming implementation of the new LO Compensation rules has given me pause to consider the current regulation that is already in place in regards to mortgages and consumer credit. The brand new Consumer Financial Protection Bureau will be given the task of overseeing this new regulation. According to the CFPB website their mission will be to make sure consumers have the information they need...
Read More
Why can’t I get the best rate?
Question: I have a credit score of 700 and am putting 20% down on the purchase of my new home. Why can’t I get the rates that I see on-line? Answer: Well, maybe if you had taken better care of your credit we wouldn’t be having this conversation now would we? Just kidding. Sort of. In today’s lending landscape Fannie Mae and Freddie Mac are the primary purchasers of home loans. You...
Read MoreA Recipe for Foreclosure
A Recipe for Forclosure….Short Sales and Private Mortgage Insurance…. Are you a real estate agent working on short sale approval for your seller? Under the best of circumstances it can be a challenge. But there could be an additional twist on loans that were originated back in 2005 to 2007. Agents and sellers may be unaware that the delays could be contributed to private mortgage...
Read MoreReally? Halting Foreclosures…
Really? Halting Foreclosures Will Help the Economy In their zeal to get homes on the foreclosure auction block, questionable practices were implemented by banks including forging documents and improper notarization. U. S. Attorney General Eric Holder is shocked, shocked at the disclosure of the bank’s business practices and will be beginning investigations. J. P. Morgan Chase and...
Read More
Follow Us!