mortgages: First Time Homebuyer Tax Credit Passes the Senate 85-2!!!!! - 11/03/09 12:45 PM
Well...it's almost here. According to Bloomberg, it appears likely that Obama will have the bill on his desk next week to extend the first time home buyer tax credit. Needless to say, this bill, in it's current form extends the tax credit to:
Non-First Time Homebuyers can get a $6,500 tax … (8 comments)
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mortgages: Urgent - New Minimum Mortgage Guidelines!!!! - 10/30/09 03:34 PM
New Mortgage Guidelines· All borrowers must have one blue eye and one brown eye to qualify.· LTV > 65% SIVA requires minimum credit score of 899.· For all LTV > 65%, 360 months of payment reserves now required.· Borrower's must have no previous bankruptcies in their family history going backthree generations.· … (8 comments)
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mortgages: 1 of 3 Loans being Denied....GET APPROVED before the $8,000 Tax Credit Lapses - 10/05/09 10:39 AM
The Associated Press reports that loans are being denied at a record pace. According to the associated press, www.google.com/hostednews/ap/article/ALeqM5i28p_PCbyYs83kcnlV-GMcXCe55gD9B1QN202
Nearly one in three borrowers who applied for a mortgage last year was denied as lenders made it far more difficult to qualify.
In its annual look at mortgage practices among the … (5 comments)
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mortgages: Net Branching Opportunities Continue in Minnesota - 08/25/09 02:51 PM
I'm the Regional Vice President of Cherry Creek Mortgage. I am so grateful to the fact that I work at such a great company. I have been blessed in the fact that I have signed on about 10+ branches in my short tenure as Vice President. Just last week, I was … (0 comments)
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mortgages: Don't Trip over dollars to save a few pennies..... - 08/25/09 08:26 AM
Thirty year mortgage rates have been moving lower over the past week and are currently at about 5.0% + or - depending on all the loan variables. Many of you know that over the past month rates moved as low as below 5% for 30 year fixed mortgage loans and as … (11 comments)
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mortgages: Will Homebuyers Lose $45,000 by Not Acting Now????? - 08/14/09 09:09 AM
The Federal Reserve met Wednesday and basically said that their support of the bond purchasing program is nearing the end. The program, in which the government (you and I) were to purchase $1.25 trillion of MBS's or mortgage-backed securities is ending soon, probably by the end of 2009.
Mortgage Backed Securities of the United States … (7 comments)
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mortgages: Real Estate, Benevolence and Passion....do they belong together in Real Estate? - 08/13/09 04:51 PM
When I was a kid, I spent a week or two at Camp Saint Malo every summer. It was and is, just south of Estes Park, Colorado and attached to Rocky Mountain National Park. Then I went to college and for four summers became a camp counselor there. It's a time … (3 comments)
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mortgages: 276,000 new homes per week going into foreclosure - 07/18/09 12:22 PM
Pretty amazing stats if you ask me. I was on a seminar with a well known speaker yesterday in the mortgage industry. He was whipping out some facts. We spoke a bit about how by 2010 less than 7% of the mortgage market should be refinances. This means that there will … (8 comments)
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mortgages: Energy Efficient Mortgages??? Green has finally arrived! - 07/09/09 10:34 AM
Finally, mortgage lending seems to be getting caught up with the rest of the world when it comes to green. I had started a draft on green mortgage lending in Active Rain and then saw and participated in the post by Ritu Desai Calculate your Carbon Footprint and decided that it was time … (3 comments)
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mortgages: Tracking Mortgage Backed Securities Movement Recently.... - 06/09/09 07:59 AM
The enclosed chart includes 4.0 and 4.5 MBS (mortgage backed securities) closing prices for the past 6-weeks. I don't recall ever seeing market deterioration of this magnitude in such a short period of time. It's just amazing as there's really nothing to support this movement. Needless to say, the ONLY THING … (2 comments)
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mortgages: Kane County Votes Cherry Creek Mortgage as Best of the Best!!!! - 06/01/09 08:55 AM
9 YEARS AT CHERRY CREEK MORTGAGE IN KANE COUNTY FINALLY PAYS OFF!!!!
I came to Cherry Creek Mortgage Company (CCMC) in 2000 for a variety of reasons. The overriding reason was because of the culture..... The culture needs to work for me to thrive. 9 Years later the community, in fact the … (5 comments)
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mortgages: When A Client Commits Fraud - 05/21/09 07:50 AM
There's a client out there waiting to buck the system. Wants money, but doesn't want to or have the capability to play by the rules.
I was notified by a builder yesterday that there's someone out there (they even gave me the name of the person) who is into scamming mortgage … (14 comments)
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mortgages: Truths, Lies, and Just plain Stupidity (Experience Matters) - 04/16/09 10:13 AM
I was reading Jeff Belonger's post today.
His post, To be or not to be an EXPERT, that is the question - Such as an FHA Expert, is fairly straightforward. The post is fairly straightforward in that he gives examples in supporting his theory that cthere are a lot of "experts" … (12 comments)
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mortgages: Why Aren't the Rates Lowers????? All Signs Say Lower Rates....Why Not? - 03/27/09 08:48 AM
This is very promising evidence that the government is now starting to direct their buying power in the lower coupon range. Yesterday, over 60% of this weeks Mortgage Backed Security purchases were in the 4.0% coupon....THAT'S a whole 1/2 percent better than what you've been looking at recently. It's huge. So......
… (6 comments)
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mortgages: Countrywide Execs benefitting from Countrywide Collapse.... - 03/04/09 10:07 PM
As reported yesterday. I've modified the report to talk about the absurdity of these so called leaders.
Whether they deserve to be or not, Countrywide Financial and its top executives would be on most lists of those who share blame for the nation's economic crisis. After all, the banking behemoth made … (75 comments)
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mortgages: Please Join Me in Welcoming Riverbend Home Mortgage to Cherry Creek Mortgage - 02/23/09 11:33 PM
I have to share with you that I just pulled off another coup. Or should I say that God did. Just a few months ago, Tom Ward, a national mortgage speaker and owner of Majestic Consulting, referred me to Teresa-Carly Brown. Teresa has had her own mortgage brokerage company for many … (3 comments)
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mortgages: The Death of The Mortgage Broker - 02/16/09 08:39 AM
As the Regional Vice President of Cherry Creek Mortgage, I've had the opportunity to do many functions and roles. Yes, I still originate. It's important that I have my pulse on the street. It's important that I'm still in the game. I'm a perpetual top 10 player in my … (14 comments)
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mortgages: HONESTY AND TRUTH matter more today THAN EVER!!!!! - 02/13/09 09:32 AM
The economy is hurting. People are hurting. Our industry has taken a beating. Most of the rif raf have left our industry. In Wisconsin, the number of licensed mortgage originators (excluding those federally chartered) has plummetted from over 16,000 to just about 600 in less than a year. People who don't … (16 comments)
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mortgages: FHA can help first time homebuyers who think that they'd never get in a home. - 01/17/09 09:22 PM
FHA has had some major changes this past year. The most negative one is that the downpayment has changed from 3 to 3.5%. But really that's the extent of negative changes. The rest of FHA and it's changes have been lateral or better.
FHA is the best thing out there. Really, … (10 comments)
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mortgages: 2008 Comeback of the Year......FHA LENDING! - 01/02/09 09:59 AM
It was hit. It was hit hard. It was was old, knocked down and Mick was ready to throw the towel in so as to protect Rocky, er HUD. HUD wobbled back to its corner and yelled..."Cut Me Mick.
It was such a great scene and the beginning of one of … (25 comments)
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