tips: Increase Your Business By Mastering The Art from Christopher Shearer - 04/24/09 03:28 AM
Christopher Shearer
Christopher Shearer here, the best way to increase your business is by mastering the art of networking. Nobody understands this concept better than Dr. Ivan Misner. Dr. Misner is the founder of BNI or Business Network Int'l., the world's largest networking and referral organization. BNI has over 5,291 chapters with 111,733 members in 42 countries worldwide. In 2008 alone, the organization generated over 5.6 million referrals, translating into over $2.3 billion in business.
When it comes to the art of networking as a means to build your business, Dr. Misner has identified five key strategies. Let's examine two of Dr. … (1 comments)

tips: Action Is Power: Tips For Getting Started from Christopher Shearer - 04/21/09 10:57 PM
Christopher Shearer
It may be true that knowledge is power, but knowledge without action is not very powerful at all. In fact, it is very common to see talent wasted because no action is taken to produce results. The following are a few tips for taking action, which is perhaps the single biggest key to success, in business and in life.
Don't over-analyze tasks.
Sure you need to think things through, but you can over-think them too. If you worry too much about getting it perfect before implementation, you can lose momentum, lose your window of opportunity, or worst of all...never … (2 comments)

tips: Office of Federal Housing Oversight: Lenders will now order appraisals " Home Valuation Code of Conduct " from Christopher Shearer - 04/17/09 11:33 PM
Christopher Shearer
Home Valuation Code of Conduct
 
I. No employee, director, officer, or agent of the lender, or any other third party acting as joint venture partner, independent contractor, appraisal management company, or partner on behalf of the lender, shall influence or attempt to influence the development, reporting, result, or review of an appraisal through coercion, extortion, collusion, compensation, instruction, inducement, intimidation, bribery, or in any other manner including but not limited to:
1) withholding or threatening to withhold timely payment for an appraisal report;
2) withholding or threatening to withhold future business for an appraiser, or demoting or terminating … (0 comments)

tips: Building a Financial Foundation from Christopher Shearer - 04/14/09 01:37 AM
Christopher Shearer
Building a Financial Foundation

On this page you will find links to many other websites. When you go to another site, you are subject to the privacy and security policies of that site. FHA cannot attest to the accuracy of information provided there. Linking to a web site does not constitute an endorsement by FHA, or any of its employees, of the sponsors of the site or the products presented on the site.  FHA cannot authorize the use of copyrighted materials on linked websites. You will have to request authorization from the sponsor of the linked website. FHA … (1 comments)

tips: Can Adults Have ADHD ? from Christopher Shearer - 04/01/09 10:10 PM
Christopher Shearer
Some children with ADHD continue to have it as adults. And many adults who have the disorder don't know it. They may feel that it is impossible to get organized, stick to a job, or remember and keep appointments. Daily tasks such as getting up in the morning, preparing to leave the house for work, arriving at work on time, and being productive on the job can be especially challenging for adults with ADHD.
These adults may have a history of failure at school, problems at work, or difficult or failed relationships. Many have had multiple traffic accidents. Like … (4 comments)

tips: 7 Steps To Build Wealth from Christopher Shearer - 03/31/09 09:23 PM
 Christopher Shearer
Most parents want to teach their children responsibility - how to become self sufficient and succeed in life (after all, no one plans on raising a dead beat). However, very few actually accomplish this task. Why? Because, as parents, we are limited to the experiences our parents passed on to us; the antiquated notion that "responsibility" is simply getting a job, saving a little money, and maybe purchasing a car or some equally important item. Hopefully these seven rules will open your eyes and help you teach your children to avoid the traps that have stolen financial success from … (0 comments)

tips: Colorado Realtors: Need Help With Downpayment Assistance? from Christopher Shearer - 03/30/09 01:03 AM
Christopher Shearer
Need help buying a home? You may qualify for one of these programs.
County Programs

(0 comments)

tips: Realtors: Info on FHA's Purchase and REHAB program 203K from Christopher Shearer - 03/30/09 12:03 AM
Christopher Shearer
FHA 203K How is it different? Most mortgage financing plans provide       only permanent financing.  That is, the lender will not usually close       the loan and release the mortgage proceeds unless the condition and       value of the property provide adequate loan security.  When       rehabilitation is involved, this means that a lender typically       requires the improvements to be finished before a long-term mortgage       is made.       When a homebuyer wants to purchase a house in need of repair or       modernization, the homebuyer usually has to obtain financing first to       purchase the dwelling; additional financing … (0 comments)

tips: What is RESPA and how does it affect me? from Christopher Shearer - 03/29/09 11:37 PM
Christopher Shearer
The Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute, first passed in 1974. The purposes of RESPA are
to help consumers become better shoppers for settlement services and to eliminate kickbacks and referral fees that unnecessarily increase the costs of certain settlement services. Details about RESPA
Corresponding with the above purposes:
1. RESPA requires that borrowers receive disclosures at various times. Some disclosures spell out the costs associated with the settlement, outline lender servicing and escrow account practices and describe business relationships between settlement service providers. 2. RESPA also prohibits certain practices that increase the cost … (5 comments)

tips: Beware of Foreclosure Rescue Scams - Help Is Free! - 03/28/09 10:14 AM
Christopher Shearer
info: http://www.hud.gov
Beware of Foreclosure Rescue Scams - Help Is Free!

 Info from: http://loanworkout.org/2009/02/scams/
Is it me or are "loan modification scam" companies becoming as prevalent as mortgage broker chop shops were a couple years ago?  I don't mean to be overly critical, and I understand many do good work, but I have heard stories of "former mortgage industry professionals" charging thousands of dollars to negotiate with the bank on behalf of the borrower. 
At the risk of sounding like a protectionist, isn't this something that should be done by a lawyer? 
I have so many people come … (0 comments)

tips: Where to Find HUD Homes To Buy? - 03/28/09 09:26 AM
Christopher Shearer
Info: www.hud.gov
HUD sells properties that you might want to buy! Read how you can buy a HUD home.
Then, check out the listings of HUD homes in your area. If you think you want to buy a HUD home, you need to contact a real estate sales professional in your area who is authorized to sell HUD homes (most are). Your sales professional will submit a bid for you.
Confused about buying a home? Find a housing counselor. They will be able to help you sort through your options.
If you are a real estate broker, please read … (0 comments)

tips: Confused About Closing Costs (Real Estate Settlement Costs)? - 03/28/09 09:15 AM
Christopher Shearer
A. Specific Settlement Costs
This part of the Booklet discusses the settlement services which you may be required to get and pay for and which are itemized in Section L of the HUD-1 Settlement Statement. You also will find a sample of the HUD-1 form to help you to understand the settlement transaction.
When shopping for settlement services, you can use this section as a guide, noting on it the possible services required by various lenders and the different fees quoted by service providers. Settlement costs can increase the cost of your loan, so compare carefully.
700. Sales/Broker's Commission: … (1 comments)

tips: What is FHA ? - 03/28/09 09:00 AM
Christopher Shearer
What is FHA?
info: www.hud.gov
The Federal Housing Administration, generally known as "FHA", provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories. FHA insures mortgages on single family and multifamily homes including manufactured homes and hospitals. It is the largest insurer of mortgages in the world, insuring over 34 million properties since its inception in 1934.
What is FHA Mortgage Insurance?
FHA mortgage insurance provides lenders with protection against losses as the result of homeowners defaulting on their mortgage loans. The lenders bear less risk because FHA will pay a claim to the … (0 comments)

tips: FHA WILL NO LONGER DO ANY CASH OUT REFINANCES OVER 85% LTV AS OF APRIL 1, 2009 - 03/18/09 12:10 AM
Christopher Shearer
 
WASHINGTON, DC 20410-8000
ASSISTANT SECRETARY FOR HOUSING FEDERAL
HOUSING COMMISSIONER
 
 
Effective for case number assignments on or after April 1, 2009, the loan-to-value (LTV) of
Any cash-out refinance to be insured by FHA may not exceed 85 percent of the appraiser's estimate
of value.
Given the continued deterioration in the housing market, and FHA's need to limit its
exposure to undue risk, this reduction to the maximum LTV for cash-out refinances is being
instituted on a temporary basis while FHA further analyzes the housing and mortgage industry as
well as its own portfolio to determine whether … (4 comments)

tips: FHA WILL NO LONGER DO ANY CASH OUT REFINANCES OVER 85% LTV AS OF APRIL 1, 2009 - 03/17/09 01:06 PM
Christopher Shearer
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
 

WASHINGTON, DC 20410-8000
ASSISTANT SECRETARY FOR HOUSING FEDERAL
HOUSING COMMISSIONER
www.hud.gov espanol.hud.gov
March 12, 2009 MORTGAGEE LETTER 2009-08
TO: ALL APPROVED MORTGAGEES
SUBJECT: Limits on Cash-Out Refinances
 

 
Effective for case number assignments on or after April 1, 2009, the loan-to-value (LTV) of
Any cash-out refinance to be insured by FHA may not exceed 85 percent of the appraiser's estimate
of value.
Given the continued deterioration in the housing market, and FHA's need to limit its
exposure to undue risk, this reduction to the maximum LTV for cash-out … (6 comments)

tips: How Can I Protect Myself From Identity Theft? From Christopher Shearer - 03/07/09 04:05 AM
christopher Shearer
Individual identity protection
The acquisition of personal identifiers is made possible through serious breaches of privacy. For consumers, this is usually due to personal naiveté about who they provide their information to. In some cases the criminal obtains documents or personal identifiers through physical theft (e.g. vehicle break-ins and home invasions). Guardianship of personal identifiers by consumers is the most common intervention strategy recommended by the US Federal Trade Commission, Canadian Phone Busters and most sites that address identity theft. Personal guardianship issues include recommendations on what consumers may do to prevent their information getting into the wrong hands.
(0 comments)

tips: FHA Appraiser Resources from Christopher Shearer - 03/06/09 11:09 PM
Christopher Shearer
FHA Appraisers Resources  
Handbooks and Guides
HUD 4150. 2, "Valuation Analysis for Home Mortgage Insurance," is the primary handbook for FHA appraisers.
Revised Appendix D to HUD-4150.2 Valuation Protocol.
Homeownership Center Reference Guide - Provides additional guidance.
Policy Letters and Brochures
ML 07-11 - FHASecure guidance on appraisal practices in declining markets and appraiser responsibilities.
Industry Sites
The Appraisal Foundation
Appraisal Subcommittee
Reference Materials
Revised Appendix C
Revised Appendix A
Revised Table of Contents
HOC Reference Guide
Other Resources
Fannie Mae Appraisal Reporting Forms - Provides current guidance with these industry standard forms.
HUD-92564-CN - "For Your Protection: … (1 comments)

tips: How Do FHA's Reverse Mortgages Work Anyway? From Christopher Shearer - 03/05/09 09:47 PM
Christopher Shearer
Reverse Mortgages for Seniors - FHA's Home Equity Conversion Mortgage (HECM)  
Looking for housing options for yourself, an aging parent, relative, or friend? A reverse mortgage may be right for your situation.
The loan, commonly known as Home Equity Conversion Mortgage or HECM, is with a lending institution such as a mortgage lender, bank, credit union or savings and loan association. Senior homeowners age 62 and older can use FHA-insured reverse mortgages to convert the equity in their homes into monthly streams of income and/or a line of credit to be repaid when they no longer occupy the … (0 comments)

tips: Mortgage Bankers: DU REFI PLUS now available on Fannie Mae's DU - 03/04/09 06:32 AM
Christopher Shearer
 
DU Version 7.1 April Update Release Notes Available
With the Desktop Underwriter® (DU®) Version 7.1 April Update release the weekend of April 4, we will implement DU Refi Plus™, an enhancement intended to provide lenders with increased flexibilities and efficiencies for Fannie Mae to Fannie Mae refinance loan applications.
DU Refi Plus will leverage DU to extend underwriting flexibilities, including expanded eligibility criteria and reduced documentation requirements, on eligible loan casefiles for borrowers who are refinancing an existing Fannie Mae loan and have an acceptable payment history (as determined by DU).
 
This release will also implement … (2 comments)

tips: The American Recovery and Reinvestment Act of 2009 - 03/04/09 01:26 AM
Christopher Shearer
Making Home Affordable ProgramRefinancing and Modification Options
OBAMA ADMINISTRATION OUTLINES MORTGAGE PLAN FOR RESPONSIBLE HOMEOWNERS
"Two weeks after the President unveiled his plan to help promote homeowner affordability, we are moving forward today with these guidelines to implement that plan," HUD Secretary Shaun Donovan said.  "This step forward represents a tremendous coordinated effort between major government and regulatory agencies to help bring relief to America's housing market and homeowners. This plan will help make home ownership more affordable for nine million American families and in doing so, help to stop the damaging impact that declining home prices have on … (1 comments)

 
Christopher Shearer, MBA, “San Diego Mortgage Man” (Mortgage Solutions FCS )

Christopher Shearer, MBA

“San Diego Mortgage Man”

San Diego, CA

More about me…

Mortgage Solutions FCS

Address: Manassas, VA, 20109

Mobile: (703) 201-8485

Christopher Shearer is a multi-family / commercial real estate consultant achieving property owners the highest possible NOI through the implementation of optimal rents for the property, accomplished through careful market, property, comparison grid analysis, effective cost control and revenue improvement programs; identify and analyze trends and recommending appropriate strategies to increase a properties maximum efficiency. Expert at Preparing new investment analysis presentations, offering memoranda and marketing materials, including key investment metrics. IRR, COC, DCR, CR etc. A seasoned professional, with over 15 years' experience in real estate and finance management. A real estate broker licensed in Florida and Virginia specializing in real estate and asset management of multi-family and commercial properties. Christopher is currently pursuing his M.B.A. in real estate, he holds a B.A. in business as well as an A.A. in business management. Christopher has the following state licenses; Virginia Real Estate Broker, Florida Real Estate Broker, Florida Mortgage Broker and Colorado Mortgage Broker. Contact me for a consultation and analysis of your commercial or multi-family properties.


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