We all know the drill. There are just too many shysters and hucksters out there who get their jollies off on preying on anybody and every body, whatever their reasons may be, and usually it's because the poor borrower doesn't have enough good credit or enough income to qualify for a normal mortg
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08/18/2014
Mortgage brokers do exactly what their title says, they broker loans for lenders to the borrowers. Mortgage brokers traditionally work what we refer to as the the wholesale lender, and they work as many of these wholesale lenders as possible in the process of trying to obtain the cheapest money.
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08/18/2014
A mortgage banker is, and may actually be, a separate company completely unaffiliated with any other company, thing or any entity which is perceived or known or inferred to have its own distinct existence (living or nonliving) for the purpose of originating loans. :-) This is a thing which, by t
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08/18/2014
What in the heck is the margin? The margin is a fixed percentage and a constant amount that is added to the index (see last post) to determine what an interest rate will be for the next period of an adjustable rate mortgage, or as an example, in one year. Most of the ARM margins vary somewhere b
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08/18/2014
Lender's have had to have some kind of way to determine what the rates are going to be for adjustable rate mortgages. We could say that rates are determined by the costs of Milk Duds or Junior Mints at the candy counter at the theater. If that were the case, no one could afford a loan. :-) The r
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08/18/2014
I wanted to provide you with a list of what I believe might be some of the important factors that cause lenders to set their interest rates the way that they do. I've discussed these factors with clients, customers and colleagues in days gone by. Feel free to add anything to the list that y
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08/18/2014
It's simple ! You just pay more discount points in order to get a lower interest rate. Most lenders seem to agree that there is no absolute as to what to consider the costs to be in the final analysis. The rule of thumb is that 1 point (1 %) is equal to a one-eighth (0.125%) of a percentile drop
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08/18/2014
My twenty reasons to eliminate junk mail. Works for me ! How about you ? Here they are !!! 1. The benefit of reducing negative environmental impact is nearly incalculable. 2. Labor costs would be reduced. 3. Excessive and uncompromising storage requirements would be eliminated from bul
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08/18/2014
When a buyer doesn't have all of the cash that they need to close, after they've coughed up the downpayment and other loan expenses, the seller might want to come to the rescue and make up the difference. Can this be helpful to the buyer? Can it be more helpful than reducing the price of the loa
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08/18/2014
Comparable Sales Method : Not Basement Bargains at Macy's I'm not an appraiser, although I've prepared a few CMA's and BPO's pro bono on napkins for pals at Starbuck's. Appraisers consider what they call the comparable sale method to be the most reliable means of calculating and estimating t
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08/18/2014
