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mortgage: TAYLOR BEAN MUST CEASE ALL ORIGINATION OPERATIONS EFFECTIVE IMMEDIATETLY - 08/05/09 01:22 PM
OCALA, FLORIDA – TAYLOR, BEAN & WHITAKER MORTGAGE CORP. (“TBW”) RECEIVED NOTIFICATION ON AUGUST 4, 2009 FROM THE U.S DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, FREDDIE MAC AND GINNIE MAE (THE “AGENCIES”) THAT IT WAS BEING TERMINATED AND/OR SUSPENDED AS AN APPROVED SELLER AND/OR SERVICER FOR EACH OF THOSE RESPECTIVE FEDERAL AGENCIES.
TBW HAS UNSUCCESSFULLY SOUGHT TO HAVE THE TERMINATION/SUSPENSION DECISIONS OF EACH OF THOSE AGENCIES REVERSED. AS A RESULT OF THESE ACTIONS, TBW MUST CEASE ALL ORIGINATION OPERATIONS EFFECTIVE IMMEDIATELY. REGRETTABLY, TBW WILL NOT BE ABLE TO CLOSE OR FUND ANY MORTGAGE LOANS CURRENTLY PENDING IN ITS PIPELINE.
Gerard … (0 comments)
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mortgage: YOU Can Get Up To $18,000 To Buy A New Home In California!! - 04/13/09 01:27 PM
WOW! Can you believe it? YOU can get get up to $18,000 in tax credit to buy a new home in California! The U.S. Government will give you a $8,000 tax credit for 1st time homebuyers and the State of California will give you up to $10,000 for buying a new home. The $10,000 tax credit is for home buyers that purchase a brand new home between March 1, 2009 and March 1, 2010. The bill set aside $100 million for the tax credit, so after 10,000 new homes are purchased, the credit is gone. Last month, an estimated 29,458 new … (0 comments)
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mortgage: Existing Homes Sales Up +6.5% Fueled by Massive Foreclosure Sales. - 01/26/09 06:15 PM
There's no secret that home prices have declined (plummeted in some areas) and the mortgage rates are fluctuating at the lowest levels in 37 years! Now's a great and exciting time for a homebuyer to be looking for a home. There's also a lot of loans programs out there for clients to choose from depending on their qualifications.
The National Association of Realtors (NAR) reported that existing U.S. home sales rose to an annualized pace of 4.74 million units in December, which was a +6.45% increase versus Novembers stats. The number was an increase over industry expectations of 4.45M units. NAR … (0 comments)
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mortgage: Recent Mortgage & Real Estate Industry facts - 01/24/09 01:41 PM
I just went to an interesting seminar this past week and here's some industry facts that I wrote down. I can't verify these facts as 100% correct, but I do believe they are accurate based on the renown speaker that presented these facts.
3.2 million foreclosure filings reported (81% increase)
$156.5 Billion in FHA Single Family Residence (SFR) loans in 2008 - 3x more than 2007
Estimated $500 - 4600 Billion in option arm loans to reset over the next few years. Possibly 50% of them to default
The first realtor that speaks with a potential client gets the clients business … (3 comments)
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mortgage: No Home Loan Money Available? - 12/02/08 07:40 PM
I realize the financial status that this country is currently in, especially with all the lenders going by the wayside in the last 18 months. The mortgage bailout dollar amount seems to be continuosly growing from the original numbers. The good news is there are still lenders that are lending money! In no way am I "downsizing" the seriousness of the current economic status, but the news media has really spun out of control with information...which is actually no surprise to most mortgage/real estate professionals. A lot of the general public isn't aware what is really going on - specifically loan programs that … (1 comments)
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mortgage: The "New" Mortgage Industry - 11/18/08 06:55 PM
As you all know and have experienced, the mortgage industry is no longer as we all knew it. It has significantly changed over the last year or so. Long gone are the days of the: No Doc, No Ratio, SISA, and SIVA loans.Lenders, Fannie Mae, Freddie Mac, VA and FHA guidelines have all tightend up more than we ever imagined. Not only are they constantly changing, but the changes appear to be here to stay....and mostly likely it will get even tougher. We are now faced with strict, under the microscope "Full Doc" loans programs. Whether they be Conventional, Govt, Conforming, Jumbo, 2nds,etc., no borrower … (4 comments)
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Gerard Ladalardo, CIAS
Temecula,
CA
More about me…
CB International Realty
Address: 43402 Business Park Drive, Temecula, CA, 92590
Office Phone: (760) 805-7947
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