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va: Fannie Mae/ Freddie Mac Costs; Loans are getting Expensive! - 02/18/09 12:04 PM
Fannie MAE and Freddie Mac have gone to risk based pricing. This is not new news as loans have always been priced and approved based on levels of risk. When you as a consumer are looking to be financed the lender is evaluating three things. We refer to them as the three c's.
Credit - this is your history of repayment of other loans such as auto, note loans, installment, student loans and revolving debts such as credit cards. Your mid fico score is seen to be a fair reflection of your repayment history. Experian, transunion and equifax are the three … (0 comments)

va: Three ways to 100% in California - 09/23/08 01:51 PM
As many of you are highly aware of there is a little turmoil in the markets. As of today at 1133 am, I am doing 100% financing three different ways. They all have there own little pros and cons but they are a way to get the first time buyer into a home.
1) CalHFa with a Chdap silent second.This requires the borrower to have a 680 fico score but is a real strong candidate for consideration. This can be combined with an FHA first mortgage and you are on your way to 100%. CalHFA put a freeze on the CHAP … (0 comments)

va: FHA and VA - 03/31/08 10:37 PM
Given the current state of the market place I believe that it is essential that you mortgage broker or loan officer have the availability of FHA and VA financing options. These options, especially in areas where there are homes under 417K, are essential to fully disclose all available options to the consumer.
When you compare the pros and cons of FHA, VA and conventional financing they all have the one thing that makes you go ugh! For example, FHA financing requires a 1.5% MIP premium that must be paid on all transactions. The pros are they offer 97% financing and cooperate … (3 comments)

va: Mortgage Market Turn Times (Realistic Expectations) - 03/24/08 02:39 PM
Insight from Scott Johnson Calfornia Mortgage Broker  
 Turn Times
Turn times in the industry are skyrocketing. Many long-duration tasks typically
associated with mortgages were being waived when the market was "easier".
With the capital markets' "lack of appetite" for mortgage backed securities, waiving
conditions, or ignoring typical requirement are a thing of the past, below represents a
typical estimation for closing times currently in the market. This is being driven by
several factors, predominantly the collapse of capacity. 2007 was a buster of a year for
the mortgage industry, and about 85% of the competition collapsed. The remainder went
through significant downsizing, and with the return of demand, most are … (1 comments)

 

Matt Freeman; Broker- California Mortgages

Roseville, CA

More about me…

Capitol Mortgage Corporation

Address: 1540 Eureka Road Suite 100, Roseville , Ca , 95661

Office Phone: (916) 960-0395

Cell Phone: (916) 402-5948

Email Me

This blog will contain information based on my thought s for the week. I am rather optimistic person so if you here pessimism in my blog usually I am making a point. I look forward to writing and reading many blogs.



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