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real estate: New Laws Effective July 30th Will Affect Clsoing Dates on Your Transactions - 07/22/09 03:42 PM
The mortgage industry is certainly undergoing many changes to help provide homebuyers and homeowners better information when it comes to financing a home. July 30th is the day a new Federal Law takes effect which will have a large impact on when an escrow can close on a home purchase or refinance.
In 2008, the Housing and Economic Recovery Act ( HERA ) was passed by Congress, and the Federal Reserve Board published the regulations under the Truth and Lending Act. The regulations were written to provide a more transparent, level, and fair regulation of the real estate industry; to add … (2 comments)
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real estate: FHA Approved Condos- Here is a Great Site and Tip! - 06/16/08 07:10 PM
Forum
I read a few posts recently where some agents have expressed some concern about whether their lenders know enough about FHA to be trustworthy.
Any condo that is available for FHA financing must appear on FHA's own Approved List.
Attached is a very simple way for you to look up any condo on your own should you need the information quickly. When you go to the site, simply type in the information for state, city, and zip.
Note: The site asks for ID number which is the tract number, not census tract and Condo Name, but the site works for … (5 comments)
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real estate: Mortgage Market's Wild Ride....Consider Having Your Clients " Lock " - 06/12/08 02:25 PM
AR Forum
I am not going to sit here and pretend that I have all the answers. Yet, in my 38 years of experience, the last week or so in the mortgage arena has been sort of like the " Wild West ".
I'd also like to think that those of you who closely work with your preferred lender would be getting good advice already regarding the market.
Rates for the last week or so have been all over the board. The last two or three days have seen a blood bath in the Treasury markets with 10 year Bond yield … (3 comments)
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real estate: Housing and Mortgage Crisis- The New Year- So What's in Store for YOU!!! - 12/19/07 07:40 PM
This is usually the time of year when those of us in the industry are winding down for the year, and are contemplating our marketing plans and strategies for the New Year. It's also a time for many of us to close out what we need to get done, hopefully before the Holidays, and kick back and enjoy the remainder of the year. In years past, I have often looked back happily on what has transpired during the year with anticipation for what I would do the following year.
This year has been, to say the least, an exception to the rule. … (1 comments)
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real estate: See What Senator Dodd's Proposed Bill S-2452 Offers You and Your Clients - 12/18/07 07:05 PM
On December 12th, Senator Dodd put forth a new bill, Senate Bill S-2452. This is a counterpart to the Bill passed by Congressman Barney Frank , HR- 3915, in November that overhauls the Lending Industry. Both bills are designed to prevent and foster measures to circumvent Predatory Lending.
While the Legislator's intentions are admirable, the consequences of their Bills are going to be far reaching to say the least. I am not going to sit and write here that there have not been abuses in the system or industry. In my opinion, the blame can go to many, and is not just … (4 comments)
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real estate: Jumbo Loans / There May Be Saving Grace - 12/17/07 06:22 PM
The last three to four months have really played havoc on the real estate and mortgage industry along with the various servicing companies that depend on these sectors for a living. August was the month when the bottom really fell out of the mortgage industry, and it's been a roller coaster ever since. Most of the problems really heated up when the subprime debacle, and the consequences, unleashed it's wrath causing company after company to either close it's doors or announce huge losses stemming from this sector of the business.
Since I am in Orange County California, I can tell you first hand … (1 comments)
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Wayne L. Brown
El Cajon,
CA
More about me…
Security National Mortgage Corporation
Address: El Cajon, CA, 92020
Office Phone: (858) 997-6300
Cell Phone: (858) 997-6300
Email Me
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