Bank of America Earns Top Mortgage Servicing Ratings - 05/31/08 01:20 AM
Have you every received new mortgage coupons in the mail?  Yes, your mortgage just got sold again.  If you are tired of this or want better service, you should pick your mortgage carefully.  Having a good mortgage servicer is another good reason for borrowers to consider Bank of America as their … (6 comments)

What Type of Loan Are You Qualifing For? Prime? Alt-A? Sub-prime? - 05/30/08 12:28 PM
The whole world knows that we are in a credit crisis mainly caused by sub-prime debacle.  What is a sub-prime loan?  What other types of loans categories are there besides sub-prime?  In this post I am not going to tell you how we got into the sub-prime crisis, but will define the … (2 comments)

Bank of America's Merger with Countrywide Continues.... - 05/29/08 01:41 PM
On February 4th, 2008 Bank of America and Countrywide Financial announced David Sambol, Countrywide's president and chief operating officer, will lead the combined consumer mortgage business, pending regulatory approval and once the planned merger with Countrywide is complete.
New York Senator Chuck Schumer was outraged by this appointment.  Senator Schumer even … (6 comments)

FBI Reports Mortgage Fraud up in 2007 - 05/21/08 07:29 PM
The Federal Bureau of Investigation's fiscal year 2007 Mortgage Fraud Report (which ended Oct. 31) found mortgage fraud investigations increased 47% over FY 2006, and continues to rise.  The top 10 mortgage fraud states for 2007 were
Florida Georgia Michigan California Illinois Ohio Texas New York Colorado Minnesota Key findings by … (8 comments)

MORTGAGE FRAUD SCHEMES - 05/21/08 07:28 PM
Mortgage Fraud can occur in many ways.  Here are a couple of Mortgage Fraud Schemes the FBI is watching for:
Occupancy fraud Employment/income fraud Failure to disclose liabilities Property Flipping Silent Second Nominee Loans/Straw Buyers Fictitious/Stolen Identity Inflated Appraisals Foreclosure Schemes Equity Skimming Air Loans Occupancy fraud
Frequently this is … (8 comments)

Tips to protect the Consumer from becoming a victim of Mortgage Fraud - 05/21/08 07:28 PM
Here are several Tips to protect the consumer from becoming a victim of Mortgage Fraud.
Get referrals for real estate and mortgage professionals. Check out the Realtor or mortgage loan officer: Google them; Check their licenses with state, county, or city regulatory agencies.
If it sounds too good to be … (1 comments)

Mortgage Relief is One Step Closer! - 05/20/08 11:25 AM
Senator Dodd's (D-Conn) Senate Banking Committee passed a bipartisan bill - 18 for and 2 opposed - that allows the Federal Housing Administration (FHA) to back up to $300 billion in new loans for homeowners facing foreclosure.  The bill targets those homeowners who would be considered too risky to qualify for a fixed-rate, government-insured … (4 comments)

Has the Fairy Tale Bank of America / Countrywide Merger Hit a SNAG? - 05/05/08 07:23 PM
The Institutional Risk Analyst group posted Update: Are Countrywide Financial Bond Holders Bankruptcy Remote?  which suggest that the Bank of America and Countrywide merger may be hitting a snag?  The post is based on an April 30, 2008 draft S-4 filing with the Security Exchange Commission (SEC).  I have provided a snippet … (31 comments)

Are you Ready to Lock? - 05/05/08 04:55 PM
I typically wake up between 6.00 and 6:30 am every morning, download rates and then analyzed who I can help today.  If I see any rate improvement that may benefit any of  my clients, I call them immediately.  This is an important service for my clients because the window of opportunity is … (1 comments)

 
Loan Officer: Alan 'AJ' Nisen California Contra Costa Mortgage Officer (A Large Bank in America)
Alan 'AJ' Nisen California Contra Costa Mortgage Officer
Lafayette, CA
More about me…
A Large Bank in America

Office Phone: (925) 677-4169
Cell Phone: (925) 963-5836
Email Me
AJ, as part of the Active Rain family, uses this forum to discuss issues that affect the Real Estate market, all aspects of Mortgages, Loans and refinancing, to build working relationships and friendships. AJ’s conversations include such topics as, the sub prime lending fallout, mortgage market changes, and localism (revitalizing downtowns, business growth, community volunteerism and events)
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