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minnesota real estate: Twin Cities Realtor-Reflections on the past and excited about the future - 01/10/10 10:27 AM
What's in Store for You is Largely up to You
By Rob Minton & John Mazzara
For many, 2009 was a year of "change".  The question is, was it positive or negative.  To a large extent, the answer lies within.  In the MinnepolisStar Tribune today, they highlighted 3 people who had had a career change.  Each of the individuals is doing something completely different than they were a year ago.  Each is trying to master their destiny.  Change is a constant, how we embrace it is the key.  I have 3 friends going through a divorce.  Two are moving forward positively, … (0 comments)

minnesota real estate: Mortgages In Minnesota Are Subject to LLPA-Loan Level Price Adjustments - 03/30/08 03:21 PM
Venture Development-Minnesota Mortgage Broker-Edina Minnesota-Twin Cities MN
LLPA is the acronym for Loan Level Price Adjustments.  Fannie Mae, Freddie Mac and now FHA are applying various standards to the loan programs.  In a nutshell, underwriting of all mortgage loan products has become tougher.  In an effort to price loans more accurately based on risk factors the GSE's-Government sponsored entities-have instituted new pricing requirements.  These changes will change the way loans are priced for the consumer.  They are trying to identify risk based factors and price them accordingly.  Ultimately this is fairer, as those that are taking less risk shouldn't have to subsidize … (0 comments)

minnesota real estate: Twin Cities Minnesota Home Prices Dropped by 10% year over year - 03/25/08 03:43 PM
The news came out today.  If you were a home seller in the Twin Cities real estate marketplace, nobody needed to remind you of this fact.  Recently, John listed a beautiful home in West Bloomington, Minnesota.  The home was on the market for a little less than a week before they received their first offer.  Not surprisingly, it was 15% below where it was listed.  This offer was rejected and a compromise was not reached.  Next another offer came in from a different buyer at about 10 % off-this too was countered and rejected.  As of last night, we had another … (0 comments)

minnesota real estate: Will Minnesota Mortgages Become Easier To Obtain-Fannie & Freddie Lower Reserve Requirements - 03/19/08 07:27 PM
Edina, MN Venture Development-Minnesota mortgage broker contemplates whether or not the recent change in reserve requirements will do what it is intended to do.  Our opinion is that it will not-unless there is a corresponding loosening in underwriting.  In theory, by loosening the underwriting requirements, the GSE's(government sponsored entities) will have more capital to invest in the mortgage market. 
The problem though lies in the the underwriting.  The people with good credit aren't the ones experiencing the majority of the credit crisis.  The borrowers with lesser credit are generally the ones defaulting on their loans.  You may remember from a previous … (0 comments)

minnesota real estate: Minnesota Mortgage Broker Is Optimistic About Stock Market Huge Rise Today - 03/11/08 03:30 PM
 
This just might be what the markets needed!
The Feds will put 200 Billion into the market to avert a credit crunch.  This was announced this AM as a way to avert a recession.  The stock market liked the move!  We had the best one day movement in over 5 years.  Is this just what the doctor ordered?   A shift in sentiment in the stock market will translate into more optimistism in the real estate and mortgage markets.  I LIKE IT-A LOT!
Interest rates on 30 year mortgages responded accordingly.  In fact they improved by a slight 1/8 of a percent.  While not … (0 comments)

minnesota real estate: Twin Cities Metro Area in MN, Minnesota Is A High Cost Area-Minnesota Mortgage Limits Will Benefit - 03/10/08 09:02 PM
Edina, MN Minnesota Mortgage Broker-Venture Development
Twin Cities Minnesota is a "High Cost" area-OK so what NEWS about that?  If you live in the Twin Cities Metro area, you are well aware that it is expensive to live here.  That being said, we are now going to benefit from that reality as we are recognized officially as a high cost region.  From a mortgage perspective, mortgage loan limits are being raised in the Metropolitan area.
The most common question is:  How is a high-cost region determined? And does our community qualify as one?
Here are your answers:
A high-cost region is typically determined by the … (1 comments)

minnesota real estate: Refinance One Day Off MLS-Available On Minnesota Mortgages - 03/01/08 09:24 AM
Edina Minnesota mortgage broker Venture Development encounters this problem and offers a solution. 
Many home sellers today are reaching a point of frustration in their home selling efforts which leads them to take their home off of the market.  Many instead are deciding to stay and remodel.  Usually, a remodel will require a new first mortgage or a home equity loan or line of credit.  Sometime, it will involve both.  What many sellers are finding, is that traditional Fannie Mae and Freddie Mac mortgage loan products prohibit you from refinancing for 6-12 months after the home is off the market. What the … (0 comments)

minnesota real estate: PMI Company's ARE Imploding-IF You Need 100% Financing-DO IT NOW-RULES HAVE CHANGED - 02/13/08 05:48 PM
Minneapolis Area Mortgage Broker-Venture Development-Edina Minnesota
Unless you are in the mortgage industry, you probably haven't heard about the Mortgage Insurance Industry is experiencing HUGE losses.  Public company MGIC Investment Corp-symbol MTG just announced today that they lost 1.5 BILLION DOLLARS LAST QUARTER ALONE.  PMI Group-symbol PMI and Radian Group Inc-RDN might be next.  They haven't announced their earnings yet.  Since they are all in the same business it might be a logical inference to assume they will be announcing less than positive news.
What PMI did do this week is send out a letter to mortgage broker clients like myself with a guideline change effective … (0 comments)

minnesota real estate: Buy Investment Properties In The Twin Cities-MN Mortgage Broker Explains Why - 02/10/08 10:57 AM
Real Estate: It Can BeThe Best Investment You'll Ever Make
"The housing market is falling apart! This is a horrible time to buy a home, or sell a home or even LIVE in a home!"  Sound familiar?
Have you been hearing a lot of news that sounds like this lately? Well, economists love, and I mean LOVE, to spread the gloom and doom. When the economy's going great, they don't get any attention. But as soon as the market changes, everybody's listening to them again. So, when you hear all that bad news, keep in mind that it sells newspapers.
That's certainly not to … (0 comments)

minnesota real estate: Convert Your ARM To A Fixed Rate Mortgage-Lock Into Low Rates - 02/01/08 05:58 PM
A Farewell to ARMs: Refinance Before Adjustable Rate Mortgages ResetBy Patti Mazzara, Vice PresidentVenture Development Inc.
Edina, MN - Since June of 2004, the Federal Reserve has systematically increased the federal funds rate, causing short-term interest rates to follow suit. As a result, consumers with Adjustable Rate Mortgages (ARMs) tied to volatile short-term rate indices, such as the LIBOR, are finding themselves at the mercy of the Federal Reserve's war on inflation. A reversal in the market has just taken place.  In case you've missed it, the Fed just cut their rate by 1.25%-first .75% and then followed on by .5%
"Higher interest … (0 comments)

minnesota real estate: FHA Will be Modernized-Effect On Twin Cities MN Real Estate Market May Be Limited - 01/25/08 12:29 PM
 
 Loan Size on FHA Mortgage Loans Will Be Increased
Here's what we know so far:  There will be an FHA modernization bill that passes this year.  The proposed bill is bouncing back and forth between the House and Senate.  Once thing is for sure, or as sure as we can be at this time, the FHA mortgage loan limit will rise to 125% of the median home price with a cap of $730K  This will have a bigger affect on areas of the country that don't utilize FHA to a great extent at the moment-Areas such as the two coasts which have … (0 comments)

minnesota real estate: Have you heard-Bush signs mortgage forgiveness bill - 12/25/07 08:34 PM
If you haven't heard, debt forgiveness bill has just passed.  Now, a short sale won't have then negative connotations associated with the debt relief.  The bill number is H.R. 3648  The flip side of this bill is that it might not really do anything in states where there is a long redemption period.  For example some states have a 30 day redemption after a foreclosure.   Minnesota allows homeowners to live in their home for up to 6 months.  The "free" rent option may supercede the desire or will to preserve credit.  Ulitimately, homeowners in this situation will do what they feel … (0 comments)

 
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Patti Mazzara NMLS #333279

Edina, MN

More about me…

Venture Development Inc NMLS #373115

Address: 7300 France Ave S #410, Edina, MN, 55435

Office Phone: (952) 285-4319

Cell Phone: (612) 237-6277

Email Me

Learn about the Twin Cities real estate, minnesota real estate, minnesota home financing, minnesota mortgages, FHA, VA, Reverse Mortgages, Debt Consolidation, refinancing, first time buyer programs, interest only loans, Edina, Minneapolis and St Paul. Visit our mortgage site at http://www.ventureloanapp.com or http://www.edinamortgage.com Patti Mazzara NMLS #333279 Venture Development NMLS #373115


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