texas cash out: Congress weighs reprieve for seller-funded gifts - 09/09/08 05:10 PM
Holy Smokes!!!
It looks like we have some breathing room.
Congress Weighs Reprieve for Seller Funded Gifts
Please Call Your Congressman/Person!! This deal looks like it will make some sense.
FICO requirements apply. And I am sure this will change a lot before it passes, if it does. But maybe Congress … (2 comments)
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texas cash out: AMP Networking Realtor and Mortgage Industry Event - 06/17/08 05:16 PM
Its that time again. I will be at the happy hour event around 5:30ish
Hope some of you can make it!!
AMP Networking Event Wednesday June 18th 5:30PM to 8 PMOver 150 people Attended the Dallas AMP Sting May Event - South of Beltline on the East Side of the … (7 comments)
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texas cash out: When Final HUD Approval isn't so Final. - 05/16/08 11:28 PM
Today I had the pleasure of sitting in on a courtesy closing at a local title company. The courtesy closer was great!!
We were closing for:Fidelity National Title4540 FM 1960 WestHouston, TX 77069
Upon my arrival at the closing I discovered that the Final HUD-1 approved by me, my processor and … (16 comments)
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texas cash out: I Was Originating FHA..... When FHA Wasn't Cool! - 05/10/08 07:47 AM
Have you heard about the 'New Subprime'? Or how about the 'Mortgage Bailout'?
Well, it is FHA all the way, baby!!! Uh, er, or is it?
Do you realize that FHA has been around since the 1930s? And that it never was subprime. Nor was it meant to be the only … (9 comments)
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texas cash out: CNET's Tips & Tricks Ends Online Course Program - 04/21/08 11:24 PM
I posted some links a while back to CNET and their free courses.
It seems that they are ending this service and you will have very little time to download your courses before they are gone forever. I hope some of you learned something from this free resource.
IMPORTANT: All class content (class … (10 comments)
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texas cash out: North Texas Realtor / Lender Happy Hour!! - 04/16/08 10:57 AM
Ok, I cut and pasted the email I got from Scott Harris...... and pasted it here since he doesn't post these here in 'The Rain'
I cannot attend this month, but if interest is there I will be happy to coordinate a meet & greet at this great event.
I have attended many … (3 comments)
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texas cash out: Foreclosure: New Fannie Mae Guidelines - 04/14/08 04:10 PM
https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2008/0808.pdf
Fannie Mae has increased time in the penalty box for people with foreclosures on their credit report. Currently a 4yr time frame must pass and that has been increased to 5yrs.
No doubt this is in answer to the many borrowers who can pay their mortgage and elect to let their homes … (5 comments)
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texas cash out: Fannie Mae says no to credit scores below 580 - 04/02/08 03:00 PM
Fannie Mae is setting new rules about what mortgages it will buy, including a credit score threshold for the first time.
The District-based mortgage giant has told lenders it will no longer buy most loans made to borrowers with credit scores below 580, nor will it buy loans that have been … (10 comments)
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texas cash out: FHA Non Occupying Co-Borrower - 04/01/08 03:11 PM
FHA Non Occupying Co-Borrower rules in a nutshell.
Typically called a 'Kiddie-Condo' loan. FHA allows family members to help their kids buy their first home. Whether they are in school with no income or out in the real world and just need a little extra income to qualify.
FHA allows for a family … (17 comments)
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texas cash out: The Death of 100% Financing.... The End is Near!! - 02/12/08 12:31 PM
I got notice late yesterday that beginning March 1st, loans above 97.01% will no longer be eligible for PMI.
3% down payment may be the name of the game going forward.... and FHA Loans have never looked so sexy!!
Monthly PMI on Gov't loans is 1/2 of what you are charged on conventional loans. Yet, … (58 comments)
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texas cash out: The DallasLoanGuy Joins PrimeLending - 02/02/08 12:38 PM
A while back I informed my friends here that Maverick Residential Mortgage had shut his doors. I appreciate all of the kind words of support from those who called or wrote me with words of encouragement.
In recent days I have taken many phone calls from hiring managers and recruiters and … (29 comments)
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texas cash out: Maverick Residential Mortgage Shuts Doors!! Another One Bites The Dust!! - 01/16/08 10:09 AM
I wanted to wait and post this until after we made Lender Implode. Well, we have now and even made the Channel 11 News.
Rumors abound that the CFO went missing with $4MM and the FBI is on the case. But all that I can confirm to you is that payroll was … (29 comments)
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texas cash out: Bank of America buys Countrywide Financial for 4$BB - 01/11/08 09:13 AM
Noone Can Do What Countrywide Can..... NOT!! Bank of America just topped them.
Of course we knew this was coming.... Countrywide's Execs were practically asking to be purchased in the media. And the $2B loan a few months ago should have been the first clue.
Clue #2? Well, that would be the fact that … (19 comments)
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texas cash out: Get the Skinny on YOUR Neighborhood.... Great Resource for House Hunting!! - 12/26/07 02:55 PM
ZipSkinny.com was recently introduced to me by a friend. It looks like a wonderfull little resource for those in the Housing Market. A quick snapshot of what makes up your Zipcode is a click away.I simply put my 5 digit Zipcode into the box and click enter.
This tool uses 2000 … (15 comments)
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texas cash out: Two ActiveRain women spent the evening in my arms.... - 12/19/07 09:28 PM
Well, at least for the duration of this picture.... ( That's me in the middle )
I had the pleasure this evening to spend some time with Lorrie Semler and Karen Otto. As always, it is a pleasure to spend time with quality individuals who are committed to their segment of this wild and … (22 comments)
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texas cash out: I turned down a Fraud Loan today!!! - 12/04/07 11:53 PM
Loan Officers Beware!!!
The current market has the the 'Real Estate Investor' desperate. And they know most of the inside angles!!!!
I get a call today from a purported 'Real Estate Investor' that I will call Suzy. We will look at that term 'investor' later. But, Suzy recently bought a property for cash 2 months … (22 comments)
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texas cash out: Maverick Residential Mortgage Selected Among Top Dallas 100 Entrepreneur Award Winners - 11/27/07 02:31 PM
Maverick Residential Mortgage, Inc. was selected as 48th highest winner of the 2007 Dallas 100 Entrepreneur Awards at an impressive awards banquet Nov. 7. Executives and representatives of Maverick learned of their impressive finish at the gala held in the Morton Meyerson Symphony Center in the Arts District near downtown Dallas.Sponsored … (8 comments)
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texas cash out: MORTGAGE PRO Week in Review, Nov. 19 - 25 - 11/27/07 12:26 AM
I was honored when Jeff Belonger asked me to write this review. I don't consider myself the best writer on ActiveRain but I do have opinions and a wealth of knowledge to share.... So even with my lack of writing skills I have still found my voice here on ActiveRain and am … (32 comments)
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texas cash out: The other lender had a better Good Faith Estimate....... - 11/15/07 12:34 PM
That was the excuse I got today when informed that the borrower went with another loan officer to close their deal for them.
Thing is..... My quote was better!!! And then we learned that the borrower made a mistake. It seems that the 12 GFEs all looked the same and mine got … (18 comments)
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texas cash out: Wanna help a soldier this Veterans Day? Or for Christmas? From the boots on the ground, some ideas to bring holiday cheer to a soldier!! - 11/11/07 09:03 PM
I have read several posts here about sending Christmas cards to Walter Reed hospital. Those living here in Texas will recognize that the 2nd busiest hospital for the wounded soldiers of the gulf war is Brooks Army Medical Hospital.
My main concern as a founding member of the Texas Chapter of the Coalition to Salute America's Heroes, I … (13 comments)
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