dan: If I had a little more confidence in my preditiction Tuesday, I would have looked like a genius yesterday - also, major FHA changes coming? - 06/11/10 12:44 PM
Daily Rate Update for Friday, June 11th from Province Mortgage Associates
Part of my job is to send a daily email to the staff at my company detailing the condition of the mortgage market, and whether our originators should be locking rates, or if it is safe to float to another … (0 comments)
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dan: Crazy to calm - a new week begins in financial markets with no jobs data on the way - June 1-4 market recap - 06/07/10 01:36 PM
Financial market recap for the week of June 1 to June 4
This is a new feature I plan to continue posting each Monday. I was planning to wait until next week, but an email server outage forced my hand. I hope you find this information helpful!
If I were looking … (0 comments)
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dan: My New Responsibility at Province Mortgage - Tracking Interest Rates - 04/30/10 12:58 PM
Over the 5 years I've been a member of the team at Province Mortgage Associates, the company has grown considerably. We started with 9 loan officers, and 3 support staff, and have more than doubled in that time.
As of the beginning of April, I've taken on a new responsibility at … (0 comments)
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dan: Mortgage-Treasury Spread Hits New Lows - Are mortgages safer now? - 04/05/10 11:51 AM
Mortgage-Treasury Spread Hits New Lows - Are mortgages safer now?
In mid-March, a number of articles were published suggesting that the end of the Federal Reserve's Mortgage Backed Security purchase program might drive mortgage rates somewhat higher, fairly quickly. The Fed had telegraphed this upcoming action very loudly and very clearly … (0 comments)
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dan: Financial Education Should Start in Elementary School - That's Why I'm Bowling for Junior Achievement! - 02/25/10 10:31 AM
Financial Education Should Start in Elementary School - That's Why I'm Bowling for Junior Achievement!
As you know from my previous post, education is a very important part of my life. Between the work I do as a mortgage advisor teaching clients about their credit and mortgage options, the work … (2 comments)
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dan: Combining Education with Mortgages: My Job is Much More than Just Writing Loans - 02/24/10 07:12 PM
Combining Education with Mortgages: My Job is Much More than Just Writing Loans
Education is important.
Without education, income levels are lower. According to the macroeconomics textbook used in the course I'm teaching right now, in the United States, each year of education accrues a 10% average increase in income for … (0 comments)
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dan: Jumbo Mortgages in 2010 - Will the secondary market keep forcing ARMs on owners? - 01/13/10 04:52 PM
Jumbo Mortgages in 2010 - Will the secondary market keep forcing ARMs on owners?
Flash back a couple of years, and you'll remember the Federal Government initiating a program to allow Fannie Mae and Freddie Mac to purchase loans greater than $417,000 on a temporary basis. Fannie and Freddie had … (0 comments)
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dan: 2010 New Hampshire FHA and Conventional Loan Limits by County - Jumbo Cutoffs - 01/12/10 04:38 PM
2010 New Hampshire FHA and Conventional Loan Limits by County - Jumbo Cutoffs
Wondering what makes a Jumbo mortgage in New Hampshire for 2010? Here's the updated limit information, compiled from the Federal Housing Finance Authority and the Federal Housing Administration by county.
County FHA Limit Conventional Limit
Belknap $281,250 $417,000
… (0 comments)
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dan: 2010 Conventional Loan Limits for Rhode Island - 01/12/10 10:52 AM
2010 Conventional Loan Limits for Rhode Island
For 2010, conventional loan limits for Rhode Island have remained at the same level where they stood in 2009, according the Federal Housing Finance Agency, the group that oversees mortgage investment giants Fannie Mae and Freddie Mac. These limits define the maximum loan … (0 comments)
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dan: Conforming Loan Limits for Massachusetts for 2010 - 01/11/10 04:30 PM
Conforming Loan Limits for Massachusetts for 2010
For 2010, the Federal Housing Finance Agency has set revised conforming loan limit at $417,000, the same limit it has offered for several years now. Certain counties designated as high-cost areas have received higher limits in conjunction with the economic stimulus package of 2008, … (0 comments)
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dan: FHA Private Well Requirements for Properties not Served by Public Water - 01/07/10 05:55 PM
FHA Private Well Requirements for Properties not Served by Public Water
In Rhode Island a very high proportion of homes are connected to an ever growing public water system. I also work with many buyers in Eastern Connecticut where public systems are much less prevalent. Conventional mortgages don't ask many questions … (1 comments)
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dan: 2010 FHA Loan Limits for Massachusetts - A New Year, Same Numbers - 12/31/09 02:39 PM
2010 FHA Loan Limits for Massachusetts - A New Year, Same Numbers
As I reported previously for Rhode Island and Connecticut, 2010 is an year off from changes in maximum FHA loan amounts, and the same holds true for Massachusetts. Here are the area loan limits, by county:
Barnstable County: $462,500
… (0 comments)
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dan: 2010 FHA Loan Limits for Rhode Island - Unchanged from 2009 - 12/31/09 01:28 PM
2010 FHA Loan Limits for Rhode Island - Unchanged from 2009
Yesterday, I wrote about the updated FHA lending limits for Connecticut. To learn more about the methodology used in calculating limits, I would suggest circling back to that article. Today, I want to pass along the same information for Rhode … (0 comments)
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dan: 2010 FHA Loan Limits for Connecticut - Just How Much Can You Borrow with less than a 5% Down Payment? - 12/30/09 02:15 PM
2010 FHA Loan Limits for Connecticut - Just How Much Can You Borrow with less than a 5% Down Payment?
There are fewer than 36 hours left until 2010, so it's time to start thinking about some of the changes we'll see in mortgages in the New Year. One aspect of … (2 comments)
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dan: 6.5 steps to $6500: Getting the Move-up buyer's tax credit in 2010 for Providence and beyond! - 12/29/09 04:12 PM
6.5 steps to $6500: Getting the Move-up buyer's tax credit in 2010 for Providence and beyond!
Throughout 2009 there was a lot of talk about further means to stimulate activity in the real estate market. Many things were happening already: the Federal Reserve preserved the mortgage market by inserting itself … (3 comments)
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dan: New Green Shoots? How About Significant Improvements to FHA Condo Guidelines!!! - 08/10/09 07:16 PM
Washington's buzzword last month was "green shoots" to suggest tiny indications of improvements to the economy and financial markets. After 2 years of lender closures and program cuts, this fall we may just start seeing some green shoots in mortgages, as well.
Mortgage financing on condominium properties has been a sore … (0 comments)
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dan: Mortgage Disclosure Improvement Act, or why I'm working late tonight - 07/28/09 04:57 PM
Good evening! I wanted to post a quick note tonight to let you all know what I’ve been working on for most of this working week so far. The Mortgage Disclosure Improvement Act, or MDIA, was enacted as a rider to one of the many stimulus-related bills that have cleared congress … (3 comments)
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dan: Top Rated on Angie's List! - 07/07/09 04:50 PM
I have to admit I've been a little too busy lately to blog about everything, or do everything that I wanted to do, from a marketing perspective. I finally had a chance to catch up on a recent post about our services from a user on Angie's List. I'm pleased to … (2 comments)
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dan: Volunteering at WaterFire - How I spent my weekend - 06/16/09 11:23 PM
This Saturday, after spending most of my day in New Hampshire at a school board meeting (I serve on the board of a private school there - more on that at another time, perhaps), I zipped back to Providence to volunteer again, this time at a Providence institution, WaterFire. I'm the … (0 comments)
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dan: Mortgage-Backed Securities Losing their Stigma - What we can learn from the current Mortgage - Treasury Spread - 06/15/09 01:13 PM
Is there a light at the end of the tunnel? Investors may be suggesting so with the recent surge in the Dow Jones Industrial Average from its March low below 7000 to a recent peak over 8700. Still, some doubt should exist considering the recent economic data hasn't so much indicated … (18 comments)
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