las vegas online mortgage: Home Loan Modification: Convert your adjusting ARM to a Fixed Rate Mortgage - 10/23/07 12:31 PM
Many people have been inquiring about Las Vegas, Nevada Home Loan Modifications. Basically, a Home Loan or Mortgage Loan Modification is the process of having your current Mortgage Loan's terms modified. For instance, if you have an Las Vegas, NV Adjustable Rate Mortgage or ARM Loan you may be able to modify … (2 comments)
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las vegas online mortgage: Thank You Active Rain: Another Success Story! - 10/11/07 06:18 PM
I just wanted to share with everyone another Active Rain success story. About six weeks ago Active Rain delivered a wonderful client to me while I was fast asleep. She had found one of my blog posts, which I believe was Another 100% Financing Program Available: The Community Accomodation Loan. After reading … (13 comments)
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las vegas online mortgage: Fast Mortgage Refinance Quote's & Home Purchase Pre-Approval's - 10/11/07 02:56 PM
Homeowners and Potential Homeowners:
Contact me right away for a Mortgage Refinance Quote's & Home Purchase Pre-Approval's from your Las Vegas, NV Mortgage Loan Officer, Rey "Steak Dinner" Gallegos. Approved in NV, NM, UT, CA, FL, & AK! Currently the mortgage industry is in transition so you need an experienced, trusted Loan Officer … (0 comments)
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las vegas online mortgage: September Foreclosures FALL: Mortgage Industry - 10/11/07 01:58 PM
September Foreclosures FALL: Mortgage Industry
More foreclosure news to publicize but this time it is positive! According to RealtyTrac in September 2007, all foreclosure categories were down, which include default notices, auction sale notices and bank repossessions, with 39 states reporting decreased activity. What exactly does this mean? Well in my opinion … (5 comments)
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las vegas online mortgage: Mortgage Industry Coalition, HOPE NOW enacted - 10/10/07 03:23 PM
Mortgage Industry Coalition, HOPE NOW enacted
The White House announced the formation of a Mortgage Industry Coalition dubbed HOPE NOW. The coalition is formed from several of the largest mortgage service companies, as well as counseling agencies, investors, and trade organizations. Their hope is that with a conglomeration of this sort they … (1 comments)
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las vegas online mortgage: Home Lending Direction "Flight to Quality": Mortgage Industry - 10/09/07 05:21 PM
Home Lending Direction "Flight to Quality": Mortgage Industry
I have to say that I have never heard anyone say that an Industry has taken a "Flight to Quality". In the following story, from bloomberg.com Bank of America is said to gaining strong market share in the mortgage industry. It is no secret … (0 comments)
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las vegas online mortgage: More Alternatives to Foreclosure - 10/05/07 02:43 PM
More Alternatives to Foreclosure: Mortgage Industry
I am passionately searching for options for people that are in danger of losing their homes. I beleive it is important for Mortgage and Real Estate Professionals to reach out in any way we can to help these people. Here are a couple more programs that I … (0 comments)
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las vegas online mortgage: Mortgage Brokers to Blame? Yeah Right!: Mortgage Industry - 10/04/07 11:38 AM
Mortgage Brokers to Blame? Yeah Right!: Mortgage Industry
OK folks, the following story from the Los Angeles Times cracks me up and makes me sick to my stomach at the same time!
U.S. Taking Aim at Brokers by Los Angeles Times (10/04/07); Peterson, JonathanSeveral pieces of legislation that addresses the problems in the mortgage … (1 comments)
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las vegas online mortgage: Manhattan Housing Boom: Real Estate Industry - 10/04/07 10:33 AM
Manhattan Housing Boom: Real Estate Industry
This is a great story from CNNMoney.com that shows the Real Estate Industry is not quite as dire as the media would like for us to believe. Aside from some troubled pockets in the US there are MANY, MANY strong markets. Manhattan is one of the … (0 comments)
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las vegas online mortgage: Why are Builders & Their "In House" Lenders Free From Regulation: Mortgage Industry - 10/03/07 01:55 PM
Why are Builders & Their "In House" Lenders Free From Regulation
This is something that really gets my blood boiling. New home builders and their "In House" lenders don't seem to have to follow the same rules as the rest of us!
To start with how can they require a buyer to use … (9 comments)
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las vegas online mortgage: Stated Income Documentation: Nevada Mortgage Industry - 10/02/07 11:02 AM
Stated Income Documentation: Nevada Mortgage Industry
For those of you that do not know, the State of Nevada has severely crippled Banks, Lenders, and Brokers ability to do Stated Income and Low or No Doc Loans with Assembly Bill 440. This bill has actually prompted banks like Credit Suisse to threaten to … (0 comments)
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las vegas online mortgage: FHA Bans Gift Down Payments with One Exception: Mortgage Industry - 10/02/07 01:11 AM
FHA bans Gift Down Payments: Mortgage Industry
According to the following story, FHA has decided to no longer allow Down Payment Assistance (DAP) programs. This basically requires borrowers to have the 3% down payment required for FHA loans. Before, you could use one of several DAP programs to subsidize the 3%, which … (38 comments)
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las vegas online mortgage: More Help to Avoid Foreclosure: Mortgage Industry - 10/01/07 02:27 PM
More Help to Avoid Foreclosure: Mortgage Industry
Below you will find two more resources to help you or people you know that are at risk of losing their homes due to ARM Adjustments or for any other reason. It is important that we get this information out to everyone we can so … (2 comments)
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las vegas online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: 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 online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: 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 online mortgage: 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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las vegas online mortgage: 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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las vegas online mortgage: Las Vegas, NV Mortgage Industry: FHA Qualifies Many Borrowers - 08/31/07 03:49 PM
Las Vegas, NV Mortgage FHA SECURE PROGRAM
Bush decides to get into the game with an opportunity for some borrowers to avoid foreclosure. This program can help a lot of Las Vegas FHA Loan seekers but most of these same people can already qualify for an FHA Loan right now. Let's not … (2 comments)
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las vegas online mortgage: Las Vegas, NV Mortgage Industry: VA to do JUMBO Loans - 08/30/07 03:09 PM
Las Vegas, NV Mortgage Industry: VA to do JUMBO Loans
The Market will find a way! When one Lender takes a Loan Program away another will step in a decide there is money to be made in funding the loan. The market bedrocks Fannie Mae, Freddie Mac and Ginnie Mae know what … (1 comments)
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las vegas online mortgage: Las Vegas, NV Mortgage Industry: Questions to ask when applying for a Mortgage Loan - 08/29/07 10:34 AM
I came across this list of questions to ask when applying for a Mortgage Loan. This article does a tremendous job in hitting the important factors you should know about the loan you are getting into. Your Mortgage Loan Officer should be more than happy to sit down with you and … (3 comments)
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las vegas online mortgage: Real Estate Industry: Most Expensive Home Ever? - 08/28/07 07:08 PM
With the current condition of the Real Estate and Mortgage Industry you would think the last thing on people's minds would be a record for the most expensive home ever. Nevertheless, a group of homeowners are trying to break the record of $103 Million as seen in the story from
Five … (2 comments)
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las vegas online mortgage: Mortgage Industry: More good news, companies hiring - 08/27/07 01:32 PM
It seems as though not everyone is slashing jobs in the Mortgage Industry. As I posted before, about Hudson City Bancorp there are still alot of strong mortgage companies and banks out there! As we see in this story from mortgagedaily.com some are even in fact hiring. I think over the coming … (5 comments)
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las vegas online mortgage: Las Vegas, NV Mortgage Industry: Stated Docs Loans Live On - 08/23/07 01:39 PM
More good news! Previously, Amtrust Bank, formerly Ohio Savings had placed a 5 DISCOUNT POINT hit on all low doc products! That basically said they didn't want to do low doc loans because nobody in their right mind would pay that. Well they have announced that they are removing that hit and reintroducing … (2 comments)
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las vegas online mortgage: Mortgage Industry: Countrywide Litigation - 08/22/07 04:49 PM
Whoa!!!! Countrywide has not had a good week! According to Cnnmoney.com a securities class action lawsuit has been filed. Although I don't anticipate that this lawsuit will be the "straw that broke the camels back" I do believe they have a multi-front war on their hands. It is my personal opinion … (4 comments)
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las vegas online mortgage: Las Vegas, NV Mortgage Industry: Jumbo Loans Indymac gives back - 08/22/07 04:22 PM
Las Vegas, NV Mortgage Industry: Jumbo Loans Indymac gives back
You read it right! One of those loans that was taken away has now been given back! According to the following story by housingwire.com Indymac Bank has decided "it will again begin originating prime, single-family residential, full documentation jumbo loans". This is … (0 comments)
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las vegas online mortgage: Mortgage Industry: Not all Mortgage Banks are in trouble - 08/21/07 06:38 PM
Mortgage Industry: Not all Mortgage Banks are in trouble
Here is a classic example of a Mortgage Bank that did the right thing when it was so easy to stray from the norm. Hudson City Bancorp (Charts) is about two-thirds the size of Countrywide, with a market cap of about $7.4 billion, … (0 comments)
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las vegas online mortgage: Mortgage Industry: Mortgage Insurance Companies Square Off (Keep your eye on this!) - 08/21/07 06:03 PM
This is the one to watch! Forget about all of the other stories about Countrywide, Indymac, and all of the other Mortgage Companies that are in trouble. This is the story to keep your eye on. Two Mortgage Insurance Giants are squaring off over a proposed merger between MGIC and Radian. … (0 comments)
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las vegas online mortgage: Las Vegas, NV Mortgage: Soft prices mean affordability increases - 08/21/07 05:43 PM
Las Vegas, NV Mortgage: Soft prices mean affordability increases
We have all heard of the old "Buy Low, Sell High" cliche but are many people taking it to heart right now? Prices all over the country have dropped especially in Las Vegas. Right now you can buy more house than you could … (1 comments)
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las vegas online mortgage: Mortgage Industry: Option ARM Mortgages, Here come the judgements! - 08/20/07 03:36 PM
Mortgage Industry: Option ARM Mortgages, Here come the judgements!
I have never been a fan of The Option ARM Mortgage, in fact, I have spoken out against them since their popularity grew and I saw people gettng caught up in the 1% frenzy! Well, I am really glad that I choose to … (5 comments)
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las vegas online mortgage: Mortgage Industry: Have we seen the full ramifications? - 08/20/07 03:07 PM
Well we all know that Mortgage Companies and Banks are closing their doors left and right. This means people are out of work and will be competing for a scarce few jobs in the sector. In a story on the housingwire.com, about Aegis Mortgage I was floored to find out the … (5 comments)
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las vegas online mortgage: Federal Reserve: Fed cuts discount points by 50 basis points - 08/17/07 11:34 AM
Federal Reserve: Fed cuts discount points by 50 basis points
I think this is another sign that the Fed has no choice but to step in and do what they can to help the situation with the Mortgage Market. Although the discount rate has no direct effect on the Mortgage Market, I … (4 comments)
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las vegas online mortgage: Mortgage Industry: Help may be on the way! - 08/17/07 10:50 AM
Mortgage Industry: Help may be on the way!
Previously I posted Fannie Mae wants to help. Will the Fed let them? about Fannie Mae's request to ease limits on its portfolio so that it can do what it can to help stabilize the Mortgage Market. I had mixed response from that post. Some people said whatever … (5 comments)
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las vegas online mortgage: Mortgage Industry: First Magnus Home Loans halts operations - 08/16/07 11:49 AM
With all of the Mortgage Companies, Brokers and Banks closing down, very few have surprised me. This is one of those that surprised me quite a bit! I have worked with First Magnus quite a bit and they seemed to have a solid operation. They didn't make what I call "Crazy" … (2 comments)
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las vegas online mortgage: Mortgage Industry: Accredited Home Lenders V. Lone Star Fund PART II - 08/15/07 02:44 PM
As I stated in my post Mortgage Industry: Accredited Home Lenders V. Lone Star Fund PART I, I believe hat Lone Star Fund V just plain got cold feet which is why they backed out of the original merger/buyout. I don't think it was necessarily about Accredited Home Lenders, I think it … (3 comments)
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las vegas online mortgage: Quick Nevada Mortgage Loan Quote & Pre-Approval: Loan Officer Rey "Steak Dinner" Gallegos - 08/15/07 09:44 AM
Quick Nevada Mortgage Loan Quote & Pre-Approval: Loan Officer Rey "Steak Dinner" Gallegos
Contact me right away for a Quick Nevada Mortgage Loan Quote & Pre-Approval from your Las Vegas, NV Mortgage Loan Officer, Rey "Steak Dinner" Gallegos. Approved in NV, NM, UT, CA, FL, & AK!
If you want someone to contact … (0 comments)
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las vegas online mortgage: Mortgage Industry: More Tips for Troubled Homeowners from The Better Business Bureau - 08/14/07 10:55 AM
Mortgage Industry: More Tips for Troubled Homeowners from The Better Business Bureau
During my day I do everything I can to scour the Internet and Mortgage Industry magazines looking for relevant information that can help my clients and colleagues make sense of the market we are in. I also love to stay … (1 comments)
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las vegas online mortgage: Hedge Funds: From the people who brought you the Implode-o-Meter! - 08/14/07 10:42 AM
Hedge Funds: From the people who brought you http://www.mortgageimplode.com/
Well folks, in my occasional look at http://www.mortgageimplode.com/ to see what other Mortgage Lenders/Banks are ailing or in fact have gone under, I noticed there is a new website from the same people called http://www.hf-implode.com/. Yes, that would be the Hedge Fund Implode-o-meter! "11 … (2 comments)
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las vegas online mortgage: Mortgage Industry: Accredited Home Lenders V. Lone Star Fund - 08/14/07 10:33 AM
Mortgage Industry: Accredited Home Lenders V. Lone Star Fund
The last time I posted a Battle of the titans, LandAmerica V. Amtrust, all heck broke lose and I was on the receiving end of some pretty harsh words. Oh well, I guess I am a glutton for punishment.
This seems pretty transparent … (0 comments)
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las vegas online mortgage: Las Vegas, Nevada Mortgage Industry: Your dream home may be more affordable than you think - 08/13/07 03:17 PM
Las Vegas, Nevada Mortgage Industry: Your dream home may be more affordable than you think
Not everyone is shying away from the Real Estate Market nowadays. I think there are a lot o people that are poised and ready to make their move as soon as they feel that the market has … (2 comments)
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las vegas online mortgage: Las Vegas, NV Mortgage Information: Fannie Mae delays quarterly filing - 08/10/07 05:51 PM
Las Vegas, NV Mortgage Information: Fannie Mae delays quarterly filing
I am not an alarmist by any means, so don't take this as me adding fuel to the fire. Fannie Mae delaying their quarterly filing concerns me more than most all of the other Doom and Gloom stories combined. Through all of our Mortgage … (2 comments)
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las vegas online mortgage: Las Vegas, NV Mortgage: Mortgage Servicers are starting relief efforts - 08/10/07 04:11 PM
Las Vegas, NV Mortgage: Mortgage Servicers are starting relief efforts
Let's be clear, Mortgage Banks and Mortgage Servicing Companies are not in the business of owning houses and managing foreclosed properties. They do it because they have no other choice. If they were in the business of owning houses, they would act … (2 comments)
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las vegas online mortgage: Las Vegas, NV Mortgage Industry: Jumbo Mortgage Rates up big - 08/09/07 06:50 PM
Las Vegas, NV Mortgage Industry: Jumbo Mortgage Rates up big
I am not excited about this at all! Over the course of one week JUMBO loan rates skyrocketed! What this says overall is that the number of mortgage defaults are rising in the JUMBO arena. In the Las Vegas, NV area this … (0 comments)
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las vegas online mortgage: Mortgage Industry: Letter of Explanation, your new best friend! - 08/09/07 10:12 AM
Mortgage Industry: Mortgage Underwriting Letter of Explanation (LOE)
I have always been a huge fan of the Letter of Explanation. For those of you that are not familiar with the term, a Letter of Explanation or LOE, is quite simply a letter explaining something to an underwriter (UW) that is reviewing a … (7 comments)
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las vegas online mortgage: Mortgage Industry: What to do if your Mortgage Note holder goes under - 08/09/07 09:44 AM
Uncertainty is a major emotion right now among anyone that has any ties to the Mortgage Industry. I am not just talking about Industry Professionals, I am talking about homeowners and potential homeowners as well. I have always said that education is the best way to calm uncertainty. I didn't say eliminate, but calm. If … (2 comments)
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las vegas online mortgage: Nevada Mortgage Industry: Mortgage Agents Update - 08/08/07 10:40 AM
I have decided to make this a monthly post to keep everone abreast in the decreasing number of licensed Nevada Mortgage Agents.
As of Current as of: 8/8/2007 (Loss of 516 agents in 18 days)
Your mortgage partner for life,
Rey "Steak Dinner" GallegosSenior Loan OfficerFive Star Mortgage Website: http://www.steak-dinner.com/Your complete community mortgage … (7 comments)
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las vegas online mortgage: Mortgage Industry: Fannie mae wants to help. Will the Fed let them? - 08/08/07 09:59 AM
Folks, this is a very interesting situation to watch. Fannie Mae, FNMA is a congressionally chartered corporation which buys mortgages on the secondary market, pools them and sells them as mortgage-backed securities to investors on the open market. Currently they have limits on the size of their portfolio. At Fannie Mae's request they basically … (6 comments)
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las vegas online mortgage: Mortgage Industry: If Mortgage Insurance Companies falter then what? - 08/08/07 09:46 AM
Well folks, we may rougher roads ahead. With all of the Sub-Prime and now Alt-A loan defaults, everyone has been focusing on foreclosures and homeowners not being able to make there adjusted payments. When a Mortgage Bank takes loss on a property do they really lose? Well, yes and no. Don't … (4 comments)
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las vegas online mortgage: Nevada Mortgage Industry: New Nevada Law as of October 1, 2007 - 08/07/07 04:42 PM
Please understand the following regarding NRS 598D.040, which is new Nevada law that goes into effect October 1st, and which pertains to mortgage loans: There is no truth to the rumor that we will no longer be able to originate "reduced-doc," "stated-income," or "no-doc" loans in Nevada. What the law … (3 comments)
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las vegas online mortgage: Mortgage Industry: Staying ahead of the curve with the new niche! - 08/03/07 06:11 PM
As a Mortgage Industry professional in Nevada, or in fact anywhere you hear a lot of mortgage bank representatives saying "our niche is this...and our niche is that!" I have been getting several emails from our banks, lenders and investors that we work with, that claim to have the lastest and … (10 comments)
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las vegas online mortgage: Las Vegas, NV: Could this be a new trend to get rid of inventory? - 08/03/07 12:26 PM
Las Vegas, NV: Could this be a new trend to get rid of inventory?
Auctions seem to be getting more and more attention across the country and more specifically in the Las Vegas NV market. Currently there are quite a few bank owned properties, and that number is rising. Also, Las Vegas … (6 comments)
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las vegas online mortgage: Mortgage Credit Scores Still Mystery to Most - 08/02/07 11:51 AM
Mortgage Credit Scores Still Mystery to Most
After reading the article below I realized that, although the media is publicizing the Doom and Gloom of the Mortgage Industry, they are not giving equal time to the impact it is having on the average US homeowner or potential homeowner. The majority of people … (5 comments)
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las vegas online mortgage: Henderson, Nevada: Poolside Concert with Equinox - 08/01/07 10:02 AM
Henderson, Nevada: Poolside Concert with Equinox
This is a great summer activity for everyone that The City of Henderson, NV sponsors. The popular local band Equinox performs live.
Black Mountain Activity Pool 599 Greenway Road Henderson, NV
$5 Adults $Children
http://www.cityofhenderson.com/
Should you need Henderson or Las Vegas, Nevada mortgage advice, or have questions pertaining to … (0 comments)
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las vegas online mortgage: Ventana Canyon Neighborhood Garage Sale and Donation Day: Henderson, NV - 07/31/07 05:15 PM
Ventana Canyon Neighborhood Garage Sale and Donation Day: Henderson, NV
It's that time again!
Save the day, October 6th, 2007 7:00 am to 1:00 pm, for the Ventana Canyon Neighborhood Garage Sale and Donation Day in Henderson, NV.
This is a must attend! Ventana Canyon is a community of 1296 homes located … (5 comments)
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las vegas online mortgage: Henderson, NV Low-Rise Condo: Construction under way - 07/31/07 12:51 PM
Henderson, Nevada - With all of the Low, Mid, and High Rise condo projects in Henderson and Las Vegas, Nevada scheduled to be built one has to wonder how many will actually go up?
One in particular that I have been keeping an eye on is Stephanie Village in Henderson. This … (7 comments)
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las vegas online mortgage: Blog Comments are like Flair! Some people choose to do more! - 07/30/07 02:05 PM
Well everyone, I came to the realization the other night that Blog Comments on Active Rain are like Flair. If any of you have seen the movie Office Space(clip included below) you know what I am talking about.
10 comments are the minimum, now its up to you wether you want … (43 comments)
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las vegas online mortgage: Another 100% Financing Program Available: The Community Accomodation Loan - 07/27/07 04:36 PM
Because of many and many requests for 100% financing I have continued to search out the best 100% programs to offer our borrowers while still keeping them in a fixed rate loan to weather the current market correction. Bank of America is offering The Community Accommodation Loan for Low-to-moderate income borrowers … (11 comments)
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las vegas online mortgage: My Website: www.steak-dinner.com is back! - 07/23/07 03:54 PM
Hello everyone,
I just wanted to let you know that I have launched my new mortgage website, www.steak-dinner.com. My site has a clean new look and feel and many new resources including a state of the art Mortgage Calculator page. This page includes several calculators to help homeowners and potential homeowners crunch numbers like a pro! If you … (10 comments)
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