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loans: A FUNNY THING HAPPENED.... - 11/03/08 03:01 PM
A funny thing happened to me today. I received an email that said; Dear Joseph, Your production last year was impressive according to MLS data. It went on to say 100% commission minus one small flat fee. (negotiable), compensation on loans generated without a lot of extra work. and NOBODY WILL DO WHAT WE ARE DOING!
Well I just so happen to own a company that pays 100% commission and pays compensation on loans that meet RESPA guidelines. We have two programs the Advantage that is a per transaction fee or if you are a producer, the Maximizer that is a monthly program. … (4 comments)
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loans: SENATE APPROVES STIMULUS PACKAGE with LOAN LIMIT INCREASE - 02/07/08 07:22 PM
The United States Senate voted today to approve a multi-billion-dollar economic stimulus bill which includes anincrease in the federal conforming loan limit. The loan limit increase means that federally guaranteed loans, which carry lower financing costs for home-buyers, will rise to $730,000 in California's high-cost housing markets providing needed mortgage capital and, hopefully, much-needed stimulus to dormant home sales. The stimulus package, approved by a vote of 81 to 16, must go back to the House of Representatives for a vote - expected to be a formality - before its expected arrival on the President's desk next week. The package approved … (1 comments)
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loans: Mortgage Fraud - 01/30/07 02:36 PM
What, in a nutshell, is mortgage fraud? Mortgage fraud generally involves material misrepresentations or omissions made to deceive a financial institution into funding, purchasing or insuring a mortgage loan. There are many different types of mortgage fraud that fall into two catagories, "fraud for housing" and "fraud for profit" Under the fraud for housing, this type typically involves a borrower that wants to buy but does not totally qualify. They are willing to make the payment, but may not make enough income or have enough assets to qualify. So numbers are changed on the application. The way people look at it … (1 comments)
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loans: Option Arm - Do you think it's bad for the Industry? - 10/08/06 09:28 PM
How long do you thing the Option Arm has been around? By the way, in case you don't know, the reason it is called an option arm is because you get 3 or 4 options on the payment coupon. 1. start rate, 2. interest only at fully indexed amount, 3. principle and interest at the fully indexed amount and 4. 15 year amortization. Actually anything over the interest only fully indexed is put towards principle. But I digress. I recieved an Option Arm from World Savings 25 years ago so I know they have been around for that long.
How can … (2 comments)
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Joseph Crespillo
Rocklin,
CA
More about me…
Sellstate Realty First
Address: 535 Menlo Drive STE A, Rocklin, CA, 95765
Office Phone: (916) 784-7653 x 113
Cell Phone: (916) 705-3580
Email Me
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