Things you NEED to know about Mortgage Loans and the Mortgage Industry! - 09/28/07 10:48 AM
Hello everyone! I just wanted to notify everyone that I have launched a new Mortgage Resource!
Mortgage Loans on the Million Dollar Wiki!
http://www.milliondollarwiki.com/Mortgageloans
I have designed this site as a FREE resource for Consumers, Real Estate and Mortgage Professionals alike. I focus on the nuts and bolts of the Mortgage Industry as well … (1 comments)
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10 Cities Ready to Bounce Back: Real Estate - 09/26/07 05:51 PM
I knew I liked http://www.cnnmoney.com/ for a reason. They have done their share of doom and gloom stories so I won't give them a complete free pass, but I will say that they have contributed some positive stories recently in the midst of our current Mortgage and Real Estate market debacle. … (2 comments)
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8 Most Dangerous Trends Facing Mortgage Brokers: Mortgage Industry - 09/25/07 09:42 AM
Since the Mortgage Market turned sour, many people have said that Mortgage Brokers may become a thing of the past. Their reasoning is that most loans are going to fall in the conforming i.e. Freddie Mac and Fannie Mae category. Because most of the loans will be conforming why do we … (16 comments)
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American Home Mortgage Servicing, a $400 Million Asset?: Mortgage Industry - 09/24/07 04:27 PM
One of the most notable Bankruptsy's since the Mortgage crises ensued has been that of American Home Mortgage Corporation. After filing for BK this former juggernaut was also in the news for holding loan files from secondary market holders like Freddie Mac, Credit Suisse and others. One of AHM's strongest assets was the … (5 comments)
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Homebuyer Education Program Has Real Impact: Mortgage Industry - 09/21/07 09:59 AM
This is a follow up to a previous post I wrote regarding Homebuyer Education. As I stated before I strongly believe that these courses should be mandatory for all First Time Home Buyers and also think there should be some type of refresher course for buyers with credit issues. A couple … (3 comments)
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Fannie Mae & Freddie Mac get a boost: Mortgage Industry - 09/20/07 01:30 PM
Freddie Mac and Fannie Mae get a much needed boost to their portfolio limits caps. Their new limits will be raised to $735 Billion. In addition, they will also be allowed to grow .5% per quarter or 2% per year. With Fannie Mae and Freddie Mac the current saviors of the … (3 comments)
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FHA Modernization Bill Passed: Mortgage Industry - 09/19/07 07:32 PM
FHA Modernization Bill Passed: Mortgage Industry
Although some of these items may make you wonder why it was passed overall I think this is another chip off of the block of reform. I continue to get posts saying that items like this, FHA Secure, Interest Rate Reductions, etc. are not enough to … (0 comments)
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Your Home Equity Payment may go down: Mortgage Industry - 09/18/07 04:16 PM
Although the Fed cut of 1/2 point in the Fed Funds rate does not directly affect Mortgage rates, the 1/2 point cut in the Prime Rate may make your HELOC payment go down! Most Home Equity Lines of Credit or HELOC's are based on the Prime Rate plus a margin! So … (6 comments)
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Drive Traffic & Syndicate your blog FREE with Blogrush! - 09/18/07 03:39 PM
I just stumbled across a great FREE blog syndication tool called BlogRush.
Here is the link: BlogRush
This is basically a free widget that blasts your blog all across the blogosphere to people that are already reading blogs in your category. As you post blogs you get credits that will allow your … (17 comments)
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Ventana Canyon Community Garage Sale 10/06/07 (7am to 1pm): Henderson, NV - 09/18/07 11:39 AM
Ventana Canyon Community Garage Sale: Henderson, NV
Your mortgage partner for life,
Rey "Steak Dinner" GallegosSenior Loan OfficerFive Star Mortgage Website: http://www.steak-dinner.com/Your complete community mortgage broker Approved in NV, CA, UT, NM, AK, and FLProud member National Association of Mortgage Brokers … (1 comments)
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Real Estate Investors See Opportunity in the Wake of a Meltdown: Las Vegas, NV Mortgage Industry - 09/17/07 12:21 PM
What a terrific story to come out after my post on Friday, Vegas Boom 2.0! The story below from Fortune on CNNMoney.com talks about investors eyeing opportunities to pick up land cheap. In all honesty, I am surprised to see this type of story this soon. I know it is land and … (0 comments)
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Las Vegas Market a Bust! DON'T BET ON IT! Bet on Vegas Boom 2.0: Las Vegas, NV Mortgage Industry - 09/14/07 02:51 PM
Vegas Boom 2.0!
Being from Las Vegas, I keep hearing over and over that the market is a bust! Well, our market may be going through a correction but you can bet that when it is corrected it will be back in a big way!
As seen on CNBC this morning, commercial … (5 comments)
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More Strong Mortgage Banks Than You Think: Las Vegas, NV Mortgage Industry - 09/14/07 12:18 PM
With troubled Mortgage Banks like Countrywide, First Magnus and Greenpoint all over the news, many people are only seeing the negative press on the Mortgage Industry. While I understand that negative items sell more papers and get more hits on websites, there is still some good news that gets passed by … (9 comments)
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National Association of Mortgage Brokers Code of Ethics: Las Vegas, NV Mortgage Industry - 09/13/07 11:33 AM
As a proud member of the National Association of Mortgage Brokers, I wanted to point out that this organization has always had a Code of Ethics that they require their members to maintain. Recently in news stories I have seen more and more Mortgage Related groups adopting these types of conduct guidelines. My … (0 comments)
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Homebuyer Education a Welcome Change: Las Vegas, NV Mortgage - 09/12/07 02:01 PM
Homebuyer Education a Welcome Change: Las Vegas, NV Mortgage
I think that Homebuyer Education will become more popular as time progresses and more foreclosures cycle through. It is a necessary change to our industry that should help educate even the savvy of consumers. I have just put a First Time Home Buyer … (0 comments)
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Mortgage Lender's Bankruptcy May Threaten Thousands of Homeowners: Mortgage Industry - 09/12/07 11:49 AM
If you or your borrowers have Mortgages being serviced by American Home Mortgage Investmet Corp. please take note:
Prior to AHM's bankruptcy filing several large companies seized back mortgages they had backed for AHM. The reason they did this was to avoid problems through the bankruptcy proceedings. The only problem with this is … (0 comments)
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Deceptive Mortgage Advertising Must Stop: Las Vegas, NV Mortgage - 09/11/07 04:52 PM
Deceptive Mortgage Advertising Must Stop: Las Vegas, NV Mortgage
Here in Nevada, our Mortgage Lending Division has set very strict standards on Mortgage Advertising. So strict in fact that every piece of advertising that goes out weather it is, print, Internet, mail, radio, etc. MUST GET PRE-APPROVED or we as Mortgage … (4 comments)
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Investment Properties almost 1 of 3 Foreclosures: Las Vegas, NV Mortgage Industry - 09/11/07 12:55 PM
Investment Properties almost 1 of 3 Foreclosures: Las Vegas, NV Mortgage Industry
In reading the story below from The National Mortgage News one can surmise that roughly 1 in 3 defaults in Nevada are classified as Investment Properties. In my opinion, these are investors or probably in most cases Arm Chair Investors that … (0 comments)
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100% Home Loans Purchase & Refinance : Las Vegas, NV Mortgages - 09/10/07 12:56 PM
100% Home Loans Purchase & Refinance : Las Vegas, NV Mortgages
I just want to make sure that there are still several 100% Mortgage Financing Opportunities at very competitive rates. The key to making 100% financing a comfortable option is a FIXED RATE Mortgage. A fixed rate will allow the borrower to know … (2 comments)
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Mortgage Industry: Who is to blame for the mess we are in? - 09/06/07 12:10 PM
I saw this article, by FORTUNE WRITER Peter Eavis, and had to post it so everyone can see who all of the players are in the great mess we call the Mortgage Market. I don't really think that most people understand how everything trickles down. Although I don't agree with every … (14 comments)
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Nevada Mortgage Industry: Nevada names new Mortgage Lending Division Commissioner - 09/05/07 05:12 PM
Nevada Mortgage Industry: Nevada names new Mortgage Lending Division Commissioner
Nevada has named a successor to Scott Bice, Joe Waltuch, formerly with New Century as VP of Government Relations.
It will be interesting to see how the New Commissioner will help to get the Nevada Mortgage Industry back on track!
Your mortgage partner … (0 comments)
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Mortgage Industry: MGIC and Radian call off merger - 09/05/07 01:52 PM
Mortgage Industry: MGIC and Radian call off merger
I had previously posted, MGIC and Radian Square Off, about the two largest Mortgage Insurance companies getting into litigation regarding a potential merger between the two. I have been closely watching this because Mortgage Insurance is what is keeping the Mortgage Industry from tanking … (0 comments)
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Mortgage Industry: Mortgage Applications rise, but what does this mean? - 09/05/07 01:26 PM
Mortgage Industry: Mortgage Applications rise, but what does this mean?
According to the story below from cnnmoney.com Mortgage Applications rose in the past week. In my opinion, I don't believe this is an accurate reflection of an increase of the number of people trying to get a new mortgage loan. I believe … (0 comments)
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Las Vegas, NV Mortgage Industry: Can you say Buyers Market - 09/04/07 05:29 PM
Las Vegas, NV Mortgage Industry: Can you say Buyers Market
I have said it before and I will say it again, if you are looking to buy a home right now, you are are in great position! With the combination of prices declining, inventory sitting on the market and rates still attractively … (0 comments)
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Mortgage Industry: Who didn't see this coming? - 09/04/07 05:04 PM
Mortgage Industry: Who didn't see this coming?
Now I know that in every scenario there are exceptions to the rule but I don't think there will be many ARM's placed this year! They have such a bad stigma attached to them right now! I saw this article and just thought to myself … (0 comments)
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