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Blog entries tagged with "lenders":
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers
and brokers listed on this site. These real estate profiles, blogs and
blog entries are provided here as a courtesy to
our visitors to help them make an informed decision when buying or selling a house. ActiveRain
Corp. takes no responsibility for the content in these profiles, that are written by the members
of this community.
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Mr Lender: I really don't want your Free Lunch - Honest I don't.About twice a month, I receive an email or phone call from a new Lender. They always tell me how they heard how wonder I was or saw my great website, etc, etc, etc. (Thanks for stroking my ego … (11 comments)
Are you in the midst of a short sale, or about to do one, and worried about the associated tax burden that goes along with it? There's so good news for you, thanks to a bill signed yesterday, the first GENUINE relief for homeowners trying to avoid foreclosure.
Last week I was unable to publish my weekly update on the mortgage industry. For those of you that enjoy the updates, I do apologize! With the holidays here, please understand that the next couple weeks will be hectic and I will try to publish as much as I can.
I would like to first introduce myself. My name is Tony Negrete. I also own a Nationwide Notary Service here in Mansfield Ohio. I recently signed on as a Sales Rep. for U.S. Property & Appraisal Services. We have a lot of services most L.O.s will need in order to get those … (0 comments)
Alright, lenders don't slam me but, I have recently had a couple of new Realtors® ask me about the loan process and my ‘recommended' lenders. So, I thought I'd share with AR how I advise my clients in the LENDER SHOPPING phase of their home buying process! I am a big … (6 comments)
The laws of Massachusetts require that an attorney represent a lender in a mortgage financing transaction. The Law Office of George N. Piandes, P.C. has over 10 years experience working regularly with and on behalf of lenders, and understands their needs and requirements. As a First American Title Insurance Agent, we … (0 comments)
INAPPROPRIATE COMMENTS REGARDING THE NATURE OF THOSE ACCUSED WILL BE DELETED. WHILE I DO NOT LIKE TO EDIT COMMENTS, I SEE NO PLACE FOR PLACING THEIR PERSONAL HISTORY OF PAST DRUG USE OR OTHER ACCUSATIONS HERE.THIS BLOG IS INFORMATIVE AND MEANS TO SHED LIGHT ON THE MEANING OF "STRAW BUYER".http://www.adn.com/news/alaska/story/9525985p-9436772c.html OK so … (9 comments)
There is a lot of talk about the US government conducting a massive bailout at tax payer expense. Freeze interest rates, stop foreclosures! At first it sounds like a good idea, but when you think about it is really a public relations ploy for all politicians. It should be thrown out … (9 comments)
When the market heads south, as it has done spectacularly in the recent past, people are always looking for whom to blame. As long as the fingers are pointed comfortably in other directions, they are justified in assigning guilt to most any party who has been involved in even the most … (6 comments)
Last Sunday December 9th, The Arizona Republic published an article - "How lst-time buyers cope". In my opinion, the only way for first time buyers to buy safely is to use a Buyers Real Estate Agent. A Buyers Agent has the Buyer 1st in mind at all times. - It is the … (0 comments)
If you are looking to purchase a home, I highly suggest you have a good Realtor help you. It most likely will not cost you anything because, most listings include the buyers agency fees in the listing contract. What this means is that the listing office will advertise to any … (1 comments)
A friend of mine is looking to refinance his home and I'm helping him. We gave several brokers the same information; yet the numbers we're seeing vary incredibly.
He has very specific numbers of what his new balance is to be yet the loan officers seem to not be listening to … (7 comments)
Moot. It's not a word used all that much, but it now gets its day in the sun. "Moot," is the most succinct way to describe the recent plan proposed by President Bush to bailout homeowners trapped in subprime mortgages. Actually, it's the mootest, or most moot, plan of inaction ever. … (0 comments)
"Mortgage Brokers vs. Bankers"c/o MSN Real Estate 12-01-07It's harder than ever to get loans Residential mortgages were more difficult to get over the past three months than at any time in the 17-year history of the Federal Reserve's survey of banks. Standards for other types of loans tightened too, while demand … (2 comments)
I work with over 50 lenders that provide competitive rates, great loan programs, low fees and responsive service. Who do I send my loans to?If you're a realtor working with a Mortgage Advisor, these are KEY questions you should be asking to ensure a smooth and timely close.Which lender are you submitting … (1 comments)
Good morning to all. Hope your holiday's are joyful thus far.
Hopefully the interest rates will drop today and the housing industry will get relief from all the tragic loss of homes that families are experiencing at this time. Please know if you are experiencing trouble paying your mortgage ... call you lender!!! Talk to them before it gets to be a problem. … (1 comments)
REAL ESTATE CASE STUDY The ChallengeSelling a home using traditional advertising is costly and the results aren't easily tracked. Advertising listings can cost a realtor $1,000s of dollars a month: newsletter production and direct mail costs $290; online ad $300; newspaper ad $500; print ads $3,000 to 4,000 per ad; virtual home … (2 comments)
I saw over the weekend that the main website for this company is no longer up and running? I've heard some rumors but I thought it's be nice to see what other information we can collect about what the status of Premier Mortgage Funding, Inc. is.........
There are a lot of good lenders out there......I have found one that radiates with honesty and trustworthiness. He's friendly and communicates well with my clients. He actually calls me to give me updates and let me know how the transaction is going, every step of the way. My buyers always … (0 comments)
Last week, news came out that the government was considering a "variable rate freez plan" that would freeze the impending variable rates and help keep homeowners in their homes, the ones that bought or refinanced their homes with variable rates that are set to change within 2-5 years. Although this plan … (0 comments)
Greetings from SEATTLE! 
The signs are apparent for any homeowner. Home foreclosure is right around the corner if you've fallen behind on repayment of loan and the house is serving as collateral. However there are tools available for these situations. Anyone who is facing the threat of home foreclosure needs loss mitigation services or … (1 comments)
Today we will hear about the subprime rate freeze. I am sympathetic to those who are nearing foreclosure and need this freeze to stay in their homes; however, I have a huge problem with the government stepping in to bail people out of their financial problems. What about all the homeowners … (2 comments)
The news on the radio today reports that the Senate is meeting to discuss what to do about the subprime/m ortgage/foreclosure mess that we find ourselves in. This after our government urged lenders to be more accomodating to potential buyers of homes. The government wanted more people, even if they did … (1 comments)
Choosing an Online Mortgage LenderBy Frank Schiefelbein @ http://www.frankforhomeloans.com/Where you get a home loan could affect your finances and even your credit rating for years, so it's important to know as much as possible about your lender. Below are some questions to help choose among the many lenders online. Is this … (1 comments)
Things to keep in Mind about Short Sale negotiation requirements:The real estate commission will usually not exceed five percent (5%) in a two (2) broker situation.THIS IS WORTH NOTICE: In some cases the real estate commission will not exceed three percent (3%) in a one (1) broker situation. NOTE:** Real estate commission MAY, in … (3 comments)
When you are buying a new home or refinancing your present one, it is wise to do some comparison shopping among lenders. A low interest rate isn't the only criterion by which to evaluate a loan. You should also consider the terms of the mortgage, what your closing costs will be … (0 comments)
Bridging the Gap to Real Estate Success (vol 8/issue 4)
I posted the following comment on The Washington Post's website in response to an article from November 5th's article, "Realtor Discourages Use of Outside Lenders". You can read the full article here: http://www.washingtonpost.com/wp-dyn/content/article/2007/11/04/AR2007110401274.htmlAs a former Long & Foster top-producing and award-winning agent, I take issue with "affiliated business arrangements". Agents are … (6 comments)
We as professional real estate agents are going to be the KEY in changing this unstable market.
Dear Friends and Colleagues, As you know these are uncertain times in the mortgage industry. Being extra cautious for your clients sake, is what we share in common. You need the assurance that once your clients find their home, sign the contract, get the inspection and appraisal done, their lender will … (3 comments)
I have been working with a cash buyer for the past 2 months. We have been looking primarily at REO and short sale properties. Both my buyer and myself were aware of the challenges facing these types of properties. Well we found a nice home offered at $275,000. We put an … (7 comments)
I am amazed that it has not dawned on the lenders that they could help with this downward spiral. If a person had been able to make his/ her mortgage payment up until the time the ARM took affect, why would a lender not contact the person and see what kind … (0 comments)
File this under "HARD TO BELIEVE" (but true!)
Invite your congressional representative to lunch while they are home for the holidays. If you don't have the horsepower to do it on your own, your local association can make the invitation. Give them the background materials and ask them to speak about the strength of the economy, the bright outlook … (1 comments)
The holidays are right around the corner. If you are anything like me, you haven't done a stitch of Christmas shopping and you are just now getting ready to go to the grocery store for Thanksgiving. 
I read some good news today.It appears that Countrywide the nations largest lender is going to work with borrowers that are in trouble. This is a good step as the foreclosures are going up.Countrywide is offering to refinance or modify $16 Billion in loans that will re adjust by the end … (0 comments)
Hello. I would like to introduce the services that I can offer to Real Estate Agents and Lenders to assist you in growing your business. My goal is to establish two-way Business Development Partnerships to help you grow your yearly business by 20% using technology support, property information ,marketing systems, … (2 comments)
How much house you can afford depends on how much cash you can put down and how much a creditor will lend you. There are two rules of thumb: If you are self-employed you can afford a home that's up to 2 1/2 times your annual adjusted gross income plus any … (0 comments)
On most of my short sales, the banks want 90-88% of the value. How do you get the banks to accept a lesser amount? … (2 comments)
Hey y'all. Anyone heard of a "Yield Spread Premium"? Probably not but you may be PAYING for one! A Yield Spread Premium (YSP) is the cash rebate paid to a mortgage broker based on selling an interest rate ABOVE the wholesale par rate that the borrower qualifies for. So a YSP … (11 comments)
Thinking about applying for loan for a Lancaster home or real estate purchase? My team and I had the privilege of meeting with Ed Pirrung of First Horizon Home Loans this week, who has graciously accepted my invitation to join ActiveRain. He shared some wonderful information on Lancaster home loan programs that … (2 comments)
No this is not a Dr. Seuss Book! I think it would be appropriate to share with you those who make home ownership possible. You may be asking yourself: "Hey, I'm the one that makes it possible", right? You are correct, but there are others involved who help you reach the … (1 comments)
A trusted relationship is instrumental in every aspect of a good real estate transaction. TRUST: reliance on the integrity, strength, ability, surety, etc., of a person or thing; confidence. (n)RELATIONSHIP: an emotional or other connection between people. (n)LENDER: someone who lends money or gives credit in businss matters. (n)A trusted relationship … (3 comments)
There has been some talk in the markets over the last few days of a change in Jumbo Loan Markets. The information I have is via mumblings from some of the Mortgage contacts we have, but nothing concrete as of yet. The only thing I could find on a search … (2 comments)
I heard a very odd story today... A mortgage broker worked a refi deal with a client, and borrowed 1/3 of the cash out amount from the client... soon after, the broker declared bankruptcy, and informed the client that they would not be paid back. The client is now in foreclosure.
Many markets are seeing a rise in delinquencies and foreclosures. If you've missed payments on your mortgage or are worried about future payments, it's easy to feel like you're all on your own. With your house on the line, you may be tempted to hide and merely hope for the best. … (0 comments)
Lets assume you know you cannot keep your house. There is simply no choice but to sell or foreclose. Foreclosure is one of those events that ruins credit and any opportunity to purchase again during better times. Now lets assume there is no doubt in your mind that you can … (5 comments)
It looks like lenders are really trying to insure consumer confidence these days!!
Even with a very surprisingly strong jobs report today yields on bonds moved in favor of borrowers today Friday November 2nd, 2007. The banks are taking a beating as more huge write downs on bad mortgages continue. This should continue to put pressure for lower interest rates for borrowers. Hopefully this will … (2 comments)
As expected, the Fed cut key interest rates today: Breaking News Alert The New York Times Wednesday, October 31, 2007 -- 2:18 PM ET ----- Fed Lowers Key Interest Rate by a Quarter Point The Federal Reserve cut the benchmark federal funds rate by one quarter-point to 4.5 percent. Read More: https://owa.longandfoster.com/exchweb/bin/redir.asp?URL=http://www.nytimes.com/?emc=na … (0 comments)
Buying a foreclosure is NOT always a good deal. With so many foreclosures and distressed properties on the market right now, one could easily assume that a foreclosure is the way to go. After all, it was a nice house at one time. The lenders have lost so much money lately … (12 comments)
People often ask me why construction loans are so difficult? One would think this is a question a potential client, building their first home, or maybe a Realtor new to the construction arena would ask. Unfortunately this question I get asked most by colleagues in my profession. Loan officers, processors, and senior … (0 comments)
Hi Friends!A few sellers and another REALTOR® called me this week about what happens after foreclosure. I also went to 2 panel discussions this week with experienced bankers and mortgage lenders. I'm sharing so you can provide better guidance to your clients and advise your clients to contact their real estate … (10 comments)
When I saw the headline for this article my mouth dropped. I imaged how many neighborhoods are almost completely vacant. I know here in Surprise, AZ there are subdivisions that are 70% vacant. Is that unbelievable, or what? I know that things are bad, but they could get worse with many … (14 comments)
I was at a function last night and caught a discussion from some local appraisers on their daily fight to prove that their appraisals are "THEIR BEST OPINION". It seems from the discussion that lenders are trying to get the appraisers to change their appraisal amounts of the homes. CAN THIS … (4 comments)
I was speaking with a realtor friend of mine a few weeks ago. We were actually at on open house on Sunday afternoon. She informed me that this was going to be the sixth time she sold this house. She was referred from buyer to seller to buyer to seller, and … (5 comments)
With the big mess with lenders and a few deals "lost in the process" I need to find a lender/broker with the following (non-negotiable) attributes:
Find a Great Local Fargo Moorhead Builder: Bob Pearson Eid-Co Name: Bob PearsonBusiness: Eid-Co Homes, a residential home building companyHometown: Grand Forks, N.D.Your first job was: As a courtesy boy and stockman at Red Owl in Grand Forks beginning in 1962. I ultimately became a store manager in West Fargo … (1 comments)
The loss mitigation department for any lender seems to be overwhelmed with short sales these days. Each mitigator is working 50-100 deals at any given time. This makes it difficult to get the attention and time from them for more than 5 minutes. The sad part is it takes anywhere from 10-30 … (1 comments)
In a free-market economy such as ours, the willingness to make money spurs on many things, including the housing and mortgage market.
I just read the following article in the REALTOR magazine online article "Mortgages for Illegal Immigrants Grow in Popularity" http://www.realtor.org/RMODaily.nsf/pages/News2007100903?OpenDocument. I don't know this sort of shocked me a bit. Lenders evaluate these types of borrowers differently than the "traditional borrower".So people come to this country illegally, get jobs illegally, and … (4 comments)
The appraisal report is being scrutinized more closely by lenders. Today, lenders are doing their due diligence. They want to make sure the property and the buyer are a good risk. It is no longer what the market will tolerate , it is what the lenders will accept. Comps must make sense; a declining market , previous listing … (7 comments)
The Week in Review:It was a fairly quiet week last week with mixed news on the economic front. On the one hand, retail sales were much better than expected while on the other hand the consumer sentiment report was lower than expected. So we are out there buying stuff at a … (0 comments)
Home buyers who obtain a mortgage have to pay "closing costs". Closing costs is the general term used to describe the various fees and expenses paid in order to obtain a mortgage. As a general rule of thumb, closing costs are between 2 and 3 percent of the gross purchase price. … (2 comments)