Roger's Blog

This morning I heard the news of another government bailout, this one might actually work. The program is designed to support holders of asset based securities, such as mortgage backed securities, auto loan, student loans, and even SBA loans.  It essentially would insure the under-lying assets va...

We recently got the ability to pair FHA loans with grant money for Idaho home buyers.  The new grants are actually called "deferred loans" with zero interest and no payments due.  There are income limits, you have to earn 80% or less of the median income, currently $60,900.  This means your clien...

In the present market, we have seen big mortgage lenders fail as well as some lessor know companies.  The mortgage broker industry is no exception.  Just recently,  pallets of old loan files were abandoned in a self storage facility, later purchased by an individual who attempted to sell the pape...

Yesterday, my local paper published comments from the former Secretary of the Treasure, Paul O neill.  In article he stated that home loans should require a minimum of 20% down payment and that it would ensure long term stability.  I guess I sort of agree with that, but I also see where having th...

With all the recent changes in financing and the new laws that have been past, its easy to get misinformation or confusion on whats new in home financing. This year, our congress and president approved a first time home buyer tax credit of $7500.  Its only available for a short time, so now is th...

I haven't been posting as much as I would like lately, but I've got a serious case of "Buck Fever". I have warned my Realtors and other Referral Partners that I will not be in the office as much during October, In fact I'm leaving early tomorrow for the opening of Regular Deer Season.   I think b...

It used to be that Hard Money Lenders would do a loan with very little or no documentation of Income, Assets, or Employment.  Instead, they relyed on the properties equity to protect them.  You could get a hard money loan done in a few days to a couple of weeks. Now days, with values declining an...

Effective today, September 25th, the following pricing increases take effect:  New Adjustments: Investor Occupancy, <= 75% LTV:  add 1.75% to Discount Investor Occupancy, >75% and <=80% LTV : add 3.00% to Discount Investor Occupancy, >80% and <=85% LTV:  add 3.75% to Discount  Previous Adjustment...

Since the majority of my business these days is FHA, I have been following this very closely.   It appears that Chairman of the House Financial Services Committee Barney Frank has negotiated an agreement with HUD Secretary Steve Preston that will allow the continuation of the privately funded dow...

I've been waiting on the sidelines to comment on the recent Federal receivership of Fannie Mae and Freddie Mac.  I'm always leery of our government getting involved in the market and causing more harm than good.  I am also suspect of the real motive of our politicians, many times they aren't taki...