loan officers: Rates are rising, should Realtors worry?
- 06/20/13 04:42 AM
Minneapolis, MN: Yesterday the Federal Reserve "clarified" to everyone when it will likely end its economic stimulus program. This ended weeks of speculation that has caused mortgage rates to surge to the highest levels since 2011, and up over 1/2% in physical rate in the past two months. Based on the news, it appears mortgage rates have a new bottom, which is about where they are at today. There is plenty of room for rates to move higher. Express this to your clients, and get the fence sitters moving. Loan Officers and Real Estate Agents have great fear for future … (2 comments)
loan officers: Bad credit loans down since 2007
- 05/14/13 01:17 AM
Minneapolis, MN: Not much of a shocker here, but weak, and bad credit loans are down dramatically since the lending correction of 2007. Part of the reason for the housing collapse was an immense community desire to allow everyone to have a home. Clearly, that experiment failed miserably. Simply put, not everyone who wants a home loan deserves a loan, regardless of what liberal community activists say. Mortgage loans written today, have some of the highest "quality" seen in underwriting history. New mortgage regulations pretend to provide important protections to borrowers, but have also lead to a permanent increase in the … (2 comments)
loan officers: Appraiser Independence: What clients and Real Estate Agents Don't Understand
- 01/03/13 11:52 PM
Appraiser Independence: What clients and Real Estate Agents Don't Understand Minneapolis, MN: Real Estate Agents constantly call our mortgage office to ask if an Appraisal was ordered, or if it is completed yet. The first question is pretty silly... Of course it was. The second question is tougher to answer until the completed appraisal physically shows up on the lenders desk. Recent lender rules require what is known as "Appraiser Independence". This is a double down on the old rules that no one is allowed to influence or pressure the appraiser to obtain any pre-determined value on the home. … (1 comments)
loan officers: Bank Loan Officers FINALLY REQUIRED To Register
- 07/29/10 03:47 AM
BANK LOAN OFFICERS REQUIRED TO REGISTER Loan officers at banks will now be required to register, and provide their names and fingerprints to a national loan officer database as part of an effort to crack down on shady operators who were part of the mortgage meltdown. The new requirements were actually mandated by a bill passed in congress over two years ago, but Federal regulators just approved them yesterday (Wed July 28th). The rules apply to employees of banks regulated on both the state and federal level. Mortgage brokers and non-bank lenders are already required to be licensed by the system. … (5 comments)
Mortgage industry news and insights from a 15+ year industry expert. Mortgage are Real Estate News You Can Use.
Joe is a Certified Minnesota Mortgage Specialist, who provides home mortgage loans not only in the Minneapolis, St Paul area, but all of Minnesota and Wisconsin.
Minneapolis, MN: Yesterday the Federal Reserve "clarified" to everyone when it will likely end its economic stimulus program. This ended weeks of speculation that has caused mortgage rates to surge to the highest levels since 2011, and up over 1/2% in physical rate in the past two months. 
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