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Mortgage Approval Pitfalls
Mortgage Approval Pitfalls Congratulations! You’re pre-approved for a mortgage and ready to find the home of your dreams. You have nothing to worry about since you have that pre-approval letter in...
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New Qualified Mortgage Rules
New Qualified Mortgage Rules On January 10th 2014 mortgage rules changed in a big way due to the Dodd Frank Wall Street Reform and Consumer Protection Act going into effect. This act affects both...
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Rising Interest Rates
Rising Interest Rates There has been a lot of talk about the most recent rising interest rate trend and the effect that can have on the economy as a whole. When you hear the term “interest rates,”...
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How to Protect Your High Credit Score
How to Protect Your High Credit Score So, you’re ready to start shopping for a mortgage, and your lender wants to “pull your credit”. You’re worried it will harm your coveted credit score. Today, the...
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“Credit Inquires” Not All Created Equal
“Credit Inquires” Not All Created Equal A “credit inquiry” is a formal request to review a person’s credit report and stays on ones credit report for 120 days after it was pulled. A person’s credit...
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Mortgage Insurance (MIP vs PMI)
Mortgage Insurance (MIP vs PMI) Often times when one is considering the idea of purchasing a home, mortgage insurance is forgotten about when considering their monthly payment. When this happens, it...
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Bankruptcy, Foreclosure & Short-Sale Guidelines
Bankruptcy, Foreclosure & Short-Sale Guidelines As a Senior Loan Officer, I think the biggest challenge in today’s economic and mortgage lending environment has to do with the amount of people that...
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FHA to eliminate ‘post-payment’ interest charges
FHA to eliminate ‘post-payment’ interest charges The U.S. Department of Housing and Urban Development issued a statement recently that Federal Housing Administration (FHA) sellers won’t be charged a...
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FHFA wants to expand mortgage access
FHFA wants to expand mortgage access The Federal Housing Finance Agency (FHFA) announced that it wants housing finance giants Fannie Mae and Freddie Mac to provide greater support to low-income...
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Gov’t partnership to lower mortgages of military
Government partnership to lower mortgages of military The Obama Administration announced a new agreement this week with five of the nation’s largest banks aimed at helping active-duty military service...
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