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What the heck is automated underwriting - The Mortgage Advantage Corner

TMA Corner – Join us as Diane goes over what the heck Automated Underwriting is, and how it affects the mortgage process.

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The True Romance of Uncle Sam

April 12, 2013March 6, 2019 By Diane Gerdes

The shotgun wedding between Uncle Sam and the mortgage giants, Fannie Mae and Freddie Mac is going through a rough patch. There are two main reason relationships hit the rocks, sex and money. No, it is not sex because that would be weird. It’s money, too much of it.

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NON-ARM’S LENGTH

April 4, 2011March 6, 2019 By Diane Gerdes

When there is a direct relationship between any of the parties to a real estate transaction, (including borrower, client, employer, lender, broker, appraiser, seller or builder) the transaction will be considered non-arm’s length. An Arm’s Length transaction would then be a transaction where all the parties involved are entirely independent of each other and have no reason for collusion. Who

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Can Leprechaun Buy Homes?

March 17, 2011March 6, 2019 By Diane Gerdes

Answer: Yes and No. The Equal Credit Opportunity Act of 1974 prohibits discrimination in granting credit to individuals based on race, color, age, religion or national origin.

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Fracking Banks

March 10, 2011March 6, 2019 By Diane Gerdes

Fracking (noun, slang) – 1. the process of drilling with chemically treated water through the ground smashing through layers of rock, freeing oil or natural gas to flow to its rightful owners. 2. term used by the TV series Battlestar Galactica to replace expletive.

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Charlie Sheen and the US

March 4, 2011March 6, 2019 By Eric McAllister

Charlie Sheen, Muammar Gaddafi and Uncle Sam walk into a bar. Who will pay? Gaddafi hates America so much that all of his money is tied up in U.S. banks and investments. Charlie ranted his way out of his billion dollar T.V. show plus he isn’t sure rehab allows drinking with non-strippers. Uncle Sam is the only one of three that has a job and he can’t pay due to budget constraints.

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RIP Arizona Housing

February 25, 2011March 6, 2019 By Diane Gerdes

It’s official. Our government is slowing killing the Arizona housing market.

President Obama torpedoed the already distressed home financing industry by announcing the gradual raising of down payments to a minimum of 10% on conventional loans. He touted a 2009 survey by the Federal Reserve Bank of St. Louis that reported…

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Say Goodbye Fannie

February 17, 2011March 6, 2019 By Diane Gerdes

Goodbye Fannie Mae and Freddie Mac, Hello Wall Street
Discussions are under way to restructure the $11 trillion mortgage industry and wean Fannie Mae and Freddie Mac’s dependence from Uncle Sam’s battered pocketbook. Fannie was created in 1938 after the collapse…

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