mortgages: Good Faith Estimate (GFE) | Items Required by Lender to Be Paid in Advance - 03/10/08 02:47 PM
By Dustin R. Burke, Adonai Financial
Items Required by Lender to Be Paid in Advance is a section of the Good Faith Estimate that lists the items that are required to be paid in advance. The Good Faith Estimate is a RESPA required document. These items are identified with a number in … (0 comments)
|
mortgages: Good Faith Estimate (GFE) | Items Payable In Connection With Loan - 03/09/08 01:06 PM
By Dustin R. Burke, Adonai Financial
Items Payable In Connection With Loan, often referred to as the 800 Section of the GFE, is typically the first section listed on the Good Faith Estimate (GFE) and includes most fees directly associated with obtaining the loan from the lender, broker, or bank.
Loan charges … (0 comments)
|
mortgages: Florida Mortgages | Good Faith Estimate - 03/09/08 12:12 AM
By Dustin R Burke, Adonai Financial
The Real Estate Settlement Procedures Act (RESPA) requires that mortgage lenders and brokers provide a Good Faith Estimate (GFE) to customers who apply for certain RESPA regulated loans. A GFE is a itemization of expected loan costs and fees associated with the loan and must be … (0 comments)
|
mortgages: Florida Mortgages | Directory of Mortgage Application Forms & Disclosures - 03/08/08 11:17 PM
By Dustin R Burke, Adonai Financial
When an individual applies for a mortgage loan the bank, lender, or mortgage broker is required to provide the borrower with certain disclosures. This is a directory of many of those disclosures. Some forms have a link where you may view the form with a detailed … (2 comments)
|
mortgages: Florida Mortgages | Real Estate Settlement Procedures Act (RESPA) - 03/07/08 11:17 AM
By Dustin R Burke, Adonai Financial
The Real Estate Settlement Procedures Act, (also know as "RESPA"), was an Act passed by Congress in 1974.
RESPA was created because various companies associated with the buying and selling of real estate, such as lenders, real estate firms, appraisers, and title insurance companies, etc., were … (0 comments)
|
mortgages: Florida Foreign National Mortgages - Underwriting Guidelines / LTV Update - 03/06/08 05:05 PM
By Dustin R. Burke, Adonai Financial
We are very excited and please to announce we are now able to offer STATED INCOME loans to Foreign National clients with a down payment of 30% in central Florida. This includes loans secured by condotels. This is an increase in loan to value of 10% … (0 comments)
|
mortgages: When Paying Points Make Sense - 03/05/08 01:11 AM
By Dustin R Burke, Adonai Financial
I recently read a post by Christopher Hill titled "Do I pay a point or not?" I work with clients from all over the world and the American's have been taught NOT to pay points, while the remainder of the clients I work with WANT to … (0 comments)
|
mortgages: Soft Market Policies - 03/04/08 08:57 PM
By Dustin R Burke, Adonai Financial
Since the real estate boom went bust a new term has reared its head into the real estate professional's vernacular. It's the term soft market. Soft markets are often the result of having too many sellers and not enough buyers in real estate market which often … (0 comments)
|
mortgages: Florida Foreign National Mortgages - 03/04/08 08:12 PM
By Dustin R Burke, Adonai Financial
Foreign Nationals are individuals from other countries who purchase or refinance property in the United States. The property can be a commercial property or a residential property. Domestically the foreign national market has grown due to the weakened US dollar. The cheaper dollar makes US property … (0 comments)
|
mortgages: My Wachovia AE - 02/28/08 04:51 PM
By Dustin R Burke, Adonai Financial
Its hard to find an AE in today’s market who’s worth their salt. Well I’ve got one at Wachovia. I’ve posted a couple blogs on Wachovia / World Mortgage (Part 1 / Part 2). What I failed to mention was the excellence of their Account Executives. … (0 comments)
|
mortgages: New FNMA Loan Limits - Who Will See An Increase? - 02/27/08 04:40 PM
By Dustin R Burke, Adonai Financial
The buzz is all about the new FNMA loan limits. Yes, the new limits will be $729,750, but is not a carte blanche solution for all markets – not everyone will benefit. To find out what the changes mean to you check out FNMA New Loan … (0 comments)
|
mortgages: New FNMA Loan Limits - What does it mean? - 02/27/08 04:15 PM
By Dustin R Burke, Adonai Financial
The Associated Press announced that federal regulators will allow Fannie Mae and Freddie Mac to raise loan limits on conforming loans to $729,750. Is this something we should be excited about? It sounds great, but there are several things we don’t know yet.
SunTrust Bank put out … (3 comments)
|
mortgages: Central Florida Foreign National Mortgages - 02/18/08 01:46 PM
By Dustin R Burke, Adonai Financial
There have been a lot of loan guidelines changes for foreign nationals in recent months. The most common question I keep getting is, “Are banks still lending to foreign nationals?” The answer is, “Yes, banks are still lending to foreign nationals in central Florida.”
The requirements are … (0 comments)
|
mortgages: ARM or not to ARM? - 02/15/08 04:14 PM
By Dustin R Burke, Adonai Financial
ARM or not to ARM? I work with clients from all over the world, from New York to London to Tampa to Dubai. And, there are basically two contrasting views on ARM loans: the “middle class” American view and then everybody else.
It’s my observation that overwhelming … (4 comments)
|
mortgages: Foreign National Loans - 02/15/08 03:19 PM
By Dustin R Burke, Adonai Financial
Foreign National loans are loans made to international clients, or clients who do not keep their primary residence in the United States. In recent years foreign national loans have become increasingly popular because of the waning US dollar. The weaker dollar makes Florida real estate, and … (0 comments)
|
mortgages: Mortgage Market Moving Goalposts - f.k.a. Real Estate Appraisals - 02/15/08 11:57 AM
By Dustin R Burke, Adonai Financial
As a mortgage professional I am often asked by homeowners or potential homebuyers, “What this home worth?” My answer is always an oversimplified, “Its worth what someone is willing to pay for it.” Even though in conventional wisdom this answer is true, I am considering a … (0 comments)
|
mortgages: Mortgage Market Common Sense - or lack of it... - 02/15/08 09:55 AM
By Dustin R Burke, Adonai Financial
What ever happened to common sense? There seems to be a shortage of it everywhere: from restaurants to the movie theater to Wall Street to the banks we are in need of common sense.
Well, I am a mortgage guy, so this is going to relate to … (2 comments)
|
mortgages: Soft Markets -- the new way to redline. - 02/15/08 08:25 AM
By Dustin R Burke, Adonai Financial
If you haven’t already heard the term “soft market” – you will. As most of us know certain areas of the real estate market have been in decline for around a year now. The correction has appeared to have been mild, until recently where more and … (3 comments)
|
;)
;)
