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mortgage rates: Shark Bait - 11/02/11 03:14 PM
Despite my sometimes caustic commentaries on regulations that don’t always provide what I would consider the most ideal solutions to fix real world problems in the mortgage industry, I will say that we have weeded out a bunch of the “in it for a buck” crowd. The alleged mortgage brokers and various bottom feeders who participated in the subprime feeding frenzy have done their damage and sank back into the sea and now (for the most part), the professionals left are honest people.
And isn’t this what me and my Realtor partners continue to strive for? We’re not out to chum … (1 comments)
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mortgage rates: Fannie Mae and The Wild West - 01/18/11 09:22 AM
As you can imagine, I monitor all sorts of financial charts, graphs, and stats as they relate to mortgage rates and the impact they will have on my clients. And sometimes you read new data that sends a Starbucks Mocha Grande size surge through your veins...that's when you see a big number on a little LLPA (Loan Level Price Adjustment) table.
This latest insanity matrix is basically showing that the cost of borrowing money has just increased again. And it is no longer the higher risk clients (the ones with the lower credit score and challenged credit history); we're talking about … (3 comments)
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mortgage rates: Mortgage Loans - Risk-Based Rates - 02/22/10 03:37 PM
Risk based pricing on mortgage loans; basically, that's the name of the game. Stated income is out and asset verification is in. As you guys know, the interest rate your clients receive on their home loan is determined by the mortgage lender's estimate of the probability that they as a borrower will default on the loan.
If it is determined that they are less likely to fail to pay, then they are rewarded with a lower interest rate. As I've said before, you can ask a bank about current mortgage rates or search for mortgage rates on the Internet, but nothing replaces … (1 comments)
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Brian P. Forrester
Palm Harbor,
FL
More about me…
VanDyk Mortgage
Address: 35095 US Hwy 19 N Suite 100, Palm Harbor, FL, 34684
Office Phone: (727) 216-8138
Cell Phone: (813) 361-6350
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