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Mortgage and Lending - D A Griffin Financial.LLC - NMLS 6380
HOME BUYING AND TAX RETURNSSomewhere along the way when buying a home buyers are asked for their tax returns. Before the housing collapse there was this little used 4506T form. In my career I ALWAYS had the form executed as part of my application. However back then lenders did not use the form. A...
WHAT IS A REALTOR PROCESSING FEE?   What is a Realtor processing fee, and why is it on my settlement sheet? Occasionally I get a settlement sheet to review before closing and I see a Realtor processing fee as a line item charge to the buyer or the seller. As a mortgage broker, my concern is for t...
WHAT IS APR? What is APR and why should your care? When shopping for a home mortgage you SHOULD see not only an interest rate but an APR rate. The APR has historically been confusing, often because even the person trying to tell  you what it is doesn't know. One of my co workers a few years ago s...
MORTGAGE BROKERS MAKING A COMEBACK   Mortgage brokers are well aware we are making a comeback. I recently listened in on a webinar by Matt Ishbia of United Wholesale where he said: “Brokers have the option to go to whatever wholesale lender has got the best opportunity, the best turn times, the b...
  IS YOUR REAL ESTATE AGENT WORKING FOR YOU? Is  your real estate agent working FOR you? And then, Is  your real estate agent working for YOU?   No matter where you put the emphasis it is important to know if the real estate agent you are working with is working for you, the seller, themselves, o...
SAVING THE SALT OFF YOUR POPCORN   In reading a comment on a recent blog I wrote about gas price savings it brought to mind savings and its importance to home ownership. There are plenty of mortgage loan programs these days where a down payment can be gifted or zero down is required. This does no...
WHAT ARE YOU DOING WITH YOUR GAS MONEY?  When  you live in the world of consumer financing such as a mortgage broker you keep your eye on all kinds of data to help guide borrowers in making sound decisions. Generally negative economic news lowers rates and positive news drives them up.    Gas pri...
AVOID REFINANCE YO  YO   In working with a couple recently on a refinance we looked at several options. Because they had an existing rate in the "6's" refinancing totally made sense. The question was: To what? In explaining options I usually use "The Price Is Right" analogy. Door #1, Door #2, Doo...
WHAT LOWER FHA MIP PREMIUMS MEAN     For those in the lending world lower MIP premiums will cause us to take a second look at FHA for our borrowers.  Since HUD made some changes that increased the up front premium to 1.75%, increased the monthly MI to 1.35% AND made MIP permanent for maximum loan...
STICKY FHA APPRAISALS I am currently working on a FHA purchase loan where the seller had accepted a previous FHA offer. The first buyer of the property applied for a FHA loan and went so far that an appraisal was completed.   When an appraisal is done for a  FHA purchase it sticks with the proper...

Dora Griffin

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