Mortgage Insights by Andrew Clemente

I was just notified of a Top Wholesale Mortgage Banker  consolidating offices and laying off the entire Los Angeles office.  At the same time he said it was his busiest month ever.  This was his reason.  The company is a survivor and while it has been able to be flexible was not willing to over l...

Spelled out:  Assistance to help those people with good credit that just can't handle a recast by offing refinances through FHA.  Now how high are FHA limits going to increase?  In major city markets non-conforming loans are close and exceeding $1,000,000.00.  It's the Neg-Am loans that call for ...

Spelled out:  Assistance to help those people with good credit that just can't handle a recast by offing refinances through FHA.  Now how high are FHA limits going to increase?  In major city markets non-conforming loans are close and exceeding $1,000,000.00.  It's the Neg-Am loans that call for ...

Please find a link leading to Countrywide issuing a formal rebuttal that addresses the Sunday New York Times story about Countrywide and the press conference held earlier today by Senator Charles Schumer. The attached comment has been sent to reporters who have inquired about the N Y Times articl...

 Please find a link leading to Countrywide issuing a formal rebuttal that addresses the Sunday New York Times story about Countrywide and the press conference held earlier today by Senator Charles Schumer. The attached comment has been sent to reporters who have inquired about the N Y Times artic...

For those of you who don't know Bill Nazur, a great person with a diversified lending background.  Our paths crossed during my underwriting days at Washington Mutual.  After reading his and co-author Danielle Babb's book I found it very simple to read and easy to understand.  While I have an exte...

I was scanning the news today.  According to sources from RealtyTrac  July Foreclosures were 179,599 up 9% from June and 93% from 1 year ago.  Now I know there where not as many foreclosures in prior years so these increases seem greater than they are at first glance.  According to HUD this is mo...

I was scanning the news today.  According to sources from RealtyTrac  July Foreclosures were 179,599 up 9% from June and 93% from 1 year ago.  Now I know there where not as many foreclosures in prior years so these increases seem greater than they are at first glance.  According to HUD this is mo...

Years ago while I was in college there was an author my professor recommended.  Shame on me for not remembering his name (Peter...).  I do remember his advice which was brilliant.  I wanted to be a stock broker, so this advice was all about buying stock as the author was a portfolio manager for F...

The Home Loan Industry is ever changing.  Every lender is seeing changes being made. Some more drastically than others.  Just in:  Bank of America suspends all expanded criteria products until further notice. These products include but not limited to Stated Income/Stated Assets, Stated Income/Ver...