Charles Dailey's (cdailey) Blog

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Mortgage and Lending - iLoan - NMLS ID#1947845 - NMLS 79048
A place that borrowers can come to learn more than the basics of mortgage lending. It's also a place where industry professionals can come to find content for their clients.

ARCHIVED BLOG POSTS

2010 

Most know that under the Worker, Homeownership and Business Assistance Act, a one-time extension of the credit for homes purchased or under contract by April 30, 2010 was passed and a credit of up to $8,000 will apply to qualifying first-time buyers, and a smaller credit of up $6,500 will now app...
01/22/2010
On June 26th of 2009, Fannie Mae announced that itwould be amending the uniform residential loan application to accommodate data collection and tracking not just of mortgage companies but of individual loan officers as well. Today, Fannie announced what those changes will be and what this new li...
01/21/2010
In today’s press release from HUD, “FHA ANNOUNCES POLICY CHANGES TO ADDRESS RISK AND STRENGTHEN FINANCES,” FHA policy changes, additional desired changes and reasoning for the changes are announced in detail. The material changes are already becoming well known but the potential changes along wit...
01/20/2010
I'm re-posting this announcement from David Stevens, the assistant secretary for housing and FHA commissioner, because while there's been a lot of press covering what FHA changes have been announced and what their potential consequences will be, his announcement does a quality job of explaining w...
01/20/2010
    On January 25, the National Mortgage Licensing System and Registry (NMLS) will be online and available to the public.  Realtors and buyers alike will be able to easily find critical information about loan officers.  Because implementation dates vary by jurisdiction, not all loan officers will...
01/17/2010
Recently, I wrote an article outlining the financial benefits of purchasing with today's low rates and tax incentives.  Since then, I've had a guilt complex because there's another combination of market factors that have been haunting me.  I don't see how home values aren't going to experience a ...
01/16/2010
I was updating my FeedBurner for OriginatorDigest.com and, as usual, I was looking for Bob Tedeschi’s weekly New York Times article as they’re usually fantastic and I’m an avid fan. His article Rethinking Vacation Homes comes so close to addressing the most important issues regarding 2nd home fin...
01/09/2010
Lenders have always had a preferred order of recourse on loans headed in the wrong direction.  In the last few years, they've been so understaffed in their loss mitigation departments that they haven't been able to efficiently determine their best course let along execute it.  Lately it seems, th...
01/07/2010
Clearly, many if not most short sales involve a loan presently in default. As well, many times a short sale might involve a current borrower who can currently afford the payment. In several other situations, a seller may be “just hanging on” and the smallest thing could put them irreparably behin...
01/07/2010
There seems to be some justifiable cynicism about whether or not lenders will fully adopt FHA's guideline change allowing sellers who are current on their mortgage and other installment debts at the time of the short sale (and where the proceeds from the short sale serve as payment in full) to pu...
01/06/2010
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Charles Dailey

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A place that borrowers can come to learn more than the basics of mortgage lending. It's also a place where industry professionals can come to find content for their clients.