ANOTHER EXAMPLE OF BLATANT MISINFORMATION: Shame on You Zillow.com - 09/29/09 10:32 AM
I subscribe to the daily webcasts of Think Big, Work Small (TBWS), which is hosted by these two guys, Brian Stevens & Frank Garay.  TBWS was founded a couple of years ago by a bunch of real estate and mortgage people who wanted to teach others in the business how to work smarter to grow their business.
Today's video was especially interesting because there was a segment on a survey that Zillow.com did where they chose to manipulate the numbers to report that the an extension to the tax credit would be a failure.  There is also another segment on how … (14 comments)

BLATANT MISINFORMATION ABOUT GETTING A HOME LOAN: Shame on You CBS - 09/28/09 02:27 PM
Recently, CBS Evening News aired this segment on what buyers need in order to buy a home.  This is a classic example of the blatant misinformation that the media is putting out there to the public who see this crap and actually believe it.  Don't even get me started on the crap that 60 Minutes aired recently about Barney Frank being the smartest man in the world!  AAARRRGGGHHH!!! 
CBS Evening News - Loans Are Hard To Come By
While I can't speak for other markets across the country, here in LA and Ventura counties, there are several programs available to first … (11 comments)

THE PRACTICE OF DEMANDING PROSPECTIVE BUYERS GET PRE-APPROVED WITH DESIGNATED LOAN REPS JUST GOT A WHOLE LOT SLEAZIER! - 09/28/09 11:44 AM
Yesterday, I came across a post by Joetta Fort titled, Whaddaya Mean, Home Buyers Have to Qualify with YOUR Lender?   It was a great post on the topic of REO listing agents and REO bank sellers demanding that prospective buyers pre-approve with a designated loan rep.  While this post is not going to address this particular practice, don't even get me started on that behavior, but rather I want to address a whole new issue that is arising that is associated with this despicable practice.
Here in Los Angeles and Ventura counties, this particular practice is absolutely rampant.  While most of the time it is … (14 comments)

NOT QUITE SO SPEECHLESS SUNDAY: Sunset Cruise on Westlake Island with Some Realtor Friends - 09/27/09 04:31 PM
Recently, hubby and I took a sunset cruise on Westlake Island with some Realtor friends.  Besides the wonderful weather, good wine and snacks and the company of good friends, one of the joys of cruising Westlake is the view of some interesting homes.
My favorite is the pirate house, which I'm told is owned by some retired Disney executive.  Hope you enjoy the pix and have a wonderful Sunday afternoon everyone.


 
 
 
 

 

 

 

… (15 comments)

ATTENTION ALL MORTGAGE PROFESSIONALS WHO DON'T WORK FOR A LARGE, NATIONAL, RETAIL BANK: These Big Banks are Trying to Drive You Out of Business - 09/27/09 12:21 PM
Yesterday, I read a post by Bill Ladewig titled, BROKERS, If you want to be in Business in 2010, TAKE ACTION NOW.   It was a very good post and I strongly suggest that every mortgage professional who doesn't work for a large, national, retail bank (BofA, Chase, Citi, Wells Fargo, etc...) read this post and act immediately to voice their opposition to this action that is currently underway to drive mortgage broker out of the industry. 
R-1366 eliminates consumer choices by eliminating yield spread premium, which would not allow mortgage brokers to offer consumers no-low cost loans while still allowing banks … (8 comments)

UPDATE ON HVCC MORATORIUM PETITION: TBWS Battles HVCC & Andrew Cuomo Head On in New York - 09/25/09 10:06 AM
I subscribe to the daily webcasts of Think Big, Work Small (TBWS), which is hosted by these two guys, Brian Stevens & Frank Garay.  TBWS was founded a couple of years ago by a bunch of real estate and mortgage people who wanted to teach others in the business how to work smarter to grow their business.
Today's video was especially interesting because Brian and Frank are planning to go to New York and with the HVCC moratorium petition and let Andrew Cuomo and the rest of the world know what it is doing to our industry.  They also tell how you … (2 comments)

MORTGAGE BROKERS & CONSUMERS BEWARE: Barney Frank wants a "Death Panel" on Brokers & Consumer Choice - 09/24/09 01:37 PM
I subscribe to the daily webcasts of Think Big, Work Small (TBWS), which is hosted by these two guys, Brian Stevens & Frank Garay.  TBWS was founded a couple of years ago by a bunch of real estate and mortgage people who wanted to teach others in the business how to work smarter to grow their business.
Today's video was especially funn with a segment on how Barney Frank wants a DEATH PANEL to kill mortgage brokers and limit consumer choice.  Also, there is a segment on how the Fed plans to continue buying MBS in order to keep rates low, however, they will be … (2 comments)

BECAUSE SOMEONE TOLD ME TO WRITE MY OWN POST: Why I Won’t Stop Leaving Long Comments – Part 3 - 09/23/09 09:57 PM
I recently left a really long comment on a post by fellow AR mortgage professional Paul McFadden titled Correspondent lending. Will it go the way of the mortgage broker?  It was a good post about his view on the future of correspondent lending.  I often enjoy reading mortgage related posts from fellow AR mortgage professionals because of the common interests and goals that we often share for the future of our industry. 
Based on my "unrepentantly verbose" comment, Paul suggested I reblog.  While I won't reblog the whole thing, I would like to share my thoughts on my personal experiences of … (12 comments)

ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: HUD Waives 90 Day Property Flipping Rule for NSP Buyers & Eligible Areas - 09/23/09 11:08 AM
Because of the dramatic rise in foreclosures, FHA has decided to temporarily waive one of its eligibility property requirements for certain distressed areas.  Effective September 14, 2009, FHA has decided to waive the 90 seasoning requirement for FHA insured properties in NSP eligible areas. 
This is great news for NSP buyers because typically, NSP areas are established simply because the foreclosure rates are incredibly high in these areas.  The whole purpose of the NSP is to revitalize these areas with first time buyers. 
Unfortunately, many of the foreclosed properties in these NSP eligible areas are being scooped up by all cash … (6 comments)

ATTENTION LOS ANGELES & VENTURA COUNTY BUYERS: Don't Be Afraid of the Looming Tax Credit Deadline - 09/22/09 04:24 PM
I came across a post today by Jessica Horton titled, I may be a real 'twit', but I won't ever try to scare you into buying.  Jessica writes about how she won't scare her clients into buying now simply because of the $8,000 tax credit.  It was a good post and I enjoyed it, so much so, it inspired me to write my own post. 
While Jessica's post was written from her perspective of a Realtor in Georgia, the perspective of an LO here in SoCA (specifically Los Angeles & Ventura counties) is quite different.  One of the things about Jessica's … (2 comments)

LOW COST DOWN PAYMENT ASSISTANCE FOR CALIFORNIA BUYERS: CHF Access Offers Up To 3% In Assistance - 09/18/09 04:49 PM

California Homebuyers Fund (CHF) is now offering CHF Access to low-median income buyers.  CHF ACCESS was designed to assist qualifying homebuyers with their down-payment and/or closing costs by offer a grant of up to 3% of the first loan amount. 
While many low-median income buyers are disqualified for many of the current down-payment assistance programs because they are not first time buyers, CHF Access is not limited to first time buyers. 
Additionally, for those first timers who don't qualify for many of the first time buyer programs because they may make a little too much, CHF Access income guidelines are a … (12 comments)

HVCC MORATORIUM STUCK IN BARNEY FRANKS OFFICE & THE OINKER AWARDS IN GOVT WASTE ON TBWS - 09/17/09 10:30 AM
I subscribe to the daily webcasts of Think Big, Work Small (TBWS), which is hosted by these two guys, Brian Stevens & Frank Garay.  TBWS was founded a couple of years ago by a bunch of real estate and mortgage people who wanted to teach others in the business how to work smarter to grow their business.
Today's video was especially funn with a segment on how the moratorium on HVCC is now stuck in Barney Franks office and no one seems to know why.  Go figure.  Also Brian and Frank announce the oinker awards for government spending, which by the way … (3 comments)

HVCC Moratorium Gaining Momentum in Congress & Other Tidbits From TBWS - 09/16/09 10:14 AM
I subscribe to the daily webcasts of Think Big, Work Small (TBWS), which is hosted by these two guys, Brian Stevens & Frank Garay.  TBWS was founded a couple of years ago by a bunch of real estate and mortgage people who wanted to teach others in the business how to work smarter to grow their business.
Today's video was especially interesting with a segment on how the moratorium on HVCC is gaining momentum in Congress.  Apparently, the petition that's been going around now for awhile is working.  If you haven't already signed it, I strongly suggest you do so.  There is also … (5 comments)

NEW CREDIT SCORING MODEL COULD IMPROVE FICO SCORE & OTHER TIDBITS FROM TBWS - 09/09/09 09:36 AM
I subscribe to the daily webcasts of Think Big, Work Small (TBWS), which is hosted by these two guys, Brian Stevens & Frank Garay.  TBWS was founded a couple of years ago by a bunch of real estate and mortgage people who wanted to teach others in the business how to work smarter to grow their business.
Today's video was especially interesting with a segment on how a new credit scoring model has been introduced that will have a much better assessment of borrowers credit history.  There was also a segment on ordering FHA appraisals for flippers.  
Anyway, here is today's video … (11 comments)

ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: Incredible Property Eligible for LIPA Down Payment Assistance - 09/06/09 11:42 AM
In the shadow of Placerita Canyon State Park and the Angeles National Forest and minutes from Stetson Ranch Equestrian Center, is an incredible home located at 12751 Bradley Ave. that is a great starter home for today's first time buyers.
This 3bd/2ba home with more than 1,200 sq. ft. of living space sits on a large lot of nearly 15,000 sq. ft., which is listed for $279,900 and is move-in ready. 
 
Don't worry about having to fix up this home after the close of escrow because this isn't another run-down and dilapidated dumpy REO like all the rest of the … (13 comments)

Feds Ending Handout, Rates Rising Soon, Rating Agencies Getting Sued & Credit Tips @ TBWS - 09/04/09 10:43 AM
I subscribe to the daily webcasts of Think Big, Work Small (TBWS), which is hosted by these two guys, Brian Stevens & Frank Garay.  TBWS was founded a couple of years ago by a bunch of real estate and mortgage people who wanted to teach others in the business how to work smarter to grow their business.
Today's video was especially facinating for all the bits of info it provided.  There is a segment on how the Fed will be ending the handouts soon and another segment on how the ratings agencies are no longer flying under the radar of blame for … (4 comments)

ATTENTION SIMI VALLEY FIRST TIME BUYERS: Two Fabulous Home Available Now for Down Payment Assistance - 09/03/09 10:56 AM
As far as affordable housing programs go, the city of Simi Valley is one of my favorite programs I have ever worked with.  For more info on their program, check out  CITY OF SIMI VALLEY - First Time Home Buyer Program, for program guidelines and requirements. 
Basically, qualified low-medium income, first time buyers can purchase a four bedroom home up to $418,600 with as much as $200,000 in down payment assistance or a three bedroom home up to $349,300 with as much as $150,000 in assistance or a two bedroom home up to $280,900 with as much as $100,000 in assistance. 
… (4 comments)

Who Gets New HAMP Money? Uncle Sam the New Sub-Prime Lender and More Tidbits from TBWS - 09/01/09 10:49 AM


I subscribe to the daily webcasts of Think Big, Work Small (TBWS), which is hosted by these two guys, Brian Stevens & Frank Garay.  TBWS was founded a couple of years ago by a bunch of real estate and mortgage people who wanted to teach others in the business how to work smarter to grow their business.
Today's video was especially entertaining and informative.  There is a segment on how Uncle Sam is now the newest sub-prime lender based on the rates that they're charging the banks that received TARP money.  Personally, I'm not all that bothered by that … (3 comments)

 
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Donne Knudsen CalState Realty Services

Simi Valley, CA

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Los Angeles & Ventura Counties in CA

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