Annapolis Maryland - High Quality Mortgage Advice

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Mortgage and Lending - Apex Home Loans - NMLS #369577
Mortgage ramblings from Lewis Poretz - Mortgage Advice - Market Updates - Problem Solver

ARCHIVED BLOG POSTS

2007 

The era of the one page rate sheet is here!As a mortgage banker, my job is to find the best investor for my clients. In the past that meant sifting through pages and pages of rate sheets and programs I receive daily from investors. Well folks, I am here to tell you my job has just become simplif...
08/24/2007
I have now officially designated the current mortgage crisis as the era of the " one page rate sheet ". I am looking for input from Mortgage Professionals as well as seasoned agents and title agents and anyone else with industry experience. It seems as if the big priority to my clients now is not...
08/22/2007
Ok - another crazy week in the mortgage biz as more big lenders such as First Magnus went down. The Fed steps in and does something that was supposed to help something but really had NO effect on interest rates ( try and explain that to your clients! ) This week also brought the perplexing questi...
08/17/2007
 Everyone by now is aware of the crisis that has destroyed many secondary investors. As money disappears, so does many niche loan programs such as stated income, no doc, high loan to value and even home equity loans. Interest only loans may be the next casualty. Surviving loan programs have tigh...
08/13/2007
Anyone notice jumbo loans are now in the 8% + range? The market apparently had an anticipated fed rate cut priced into mortgage rates. I see rates climbing tomorrow and throughout the week, with conventional loans well into the 7%'s and jumbos touching the 9's. I just got a 100% loan approved wit...
08/07/2007
anyone have a favorite investor they feel will weather the storm???   please all chime in on this one --- in case you do not know this site --- www.mortgageimplode.com   and...............   a example of how credit is tightening................... 721 score  79% LTV  full doc   refer through Fann...
08/07/2007
 it has been a crazy week -  what does tomorrow have to bring?   www.mortgageimplode.com   Wells Fargo wholesale gone --- Fieldstone gone ---- American Home gone -----  Indymac has huge loses ---- Accredited in big trouble ----- Nat City slashes no doc and 2nd mortgage programs ----  click here f...
08/02/2007
Times are a changing .........  Times are a changing in the mortgage biz.Just this week, Bloomberg news reported that American Home Mortgage can no longer fund loans. In addition, Inman News reported that IndyMac Bank was forced to repurchase 443 million in loans and earnings plummeted 57%. These...
08/02/2007