bruce barbera's (drmortgage) Blog

Mortgage and Lending - 245261
With Indy Mac out of the market we are lacking for a National Construction Lender, on a Regional Basis a lot of local Banks have gotten so conserative or they have decided not to 'gamble" all together.  Were can a borrower go in this enviroment to get a construction loan??
How is it that they can offer to induce the consumer with give aways when RESPA clearly does not allow this?
I just met with a client that was called by a mortgage lender based in So. Cal. (that is a bank) they asked if they would like to refinance their 400k loan which was fixed and gointo a higher loan amount with a pay option arm. What is most incredible is that when the wife told them that the husba...
With the demise of some lenders like Greenpoint-Paul Financial and the pressures being placed on banks to get away from Stated Income lending could make it difficult for borrowers coming out of 5-7-10 year option Arms. Working with an experienced professional with years of experience and relation...

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