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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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Here's an updated list of lenders that are in the process of or have "imploding" since May, 2006. 213. First Lincoln Mortgage Corp.212. First American Bank (Wholesale)211. Soma Financial210. National City Corp. (Wholesale)209. Heartland Wholesale Funding208. Homefront Mortgage Inc.207. PNC Bank H.E.206. Family First Mortgage Corp.205. First Fidelity Financial204. BSM Financial203. … (3 comments)
Default Lines: The New Math Of Credit Scores by Jane J. Kim Thursday, December 20, 2007provided by
Well,
Better to have Falling Mortgage Interest Rates than the sky - that's for sure!
I had a dealing with a lender last spring/ early summer that I'm now far enough removed from to comment on. 
The article below gives the basic 411 on credit scores, but most people don't understand the financial implication your score makes on a home purchase. For example, the difference between a 680 credit score and a 650 is more that just 30 points. That difference can increase your interest rate .25%. … (6 comments)
Lets see, who can we blame, its time to kick some one off the island and we must light that flame. The chaos and controversy surrounding it all, is nothing more than sound and fury raging in the Congress' hall. The bubble has burst and the empty rubber did fall, surprisingly … (5 comments)
It is now 2008 and I don't know about you, but I do feel differently. I am more optimistic.
Countrywide Mortgage business practices continuosly sabotage deals and hurt buyers and the investors who have a vested interest in the properties for sale. To illustrate this point, here is a scenario that shows just how poorly run Countrywide is and how management either doesn't know what they're doing or doesn't care:
There's just something about the holiday season that puts everyone in a good mood. The kids are actually getting along, co-workers you haven't talked to in a while are suddenly swinging by your desk to say "hi." Even cashiers in the stores are more friendly than usual. Unfortunately, the warm, fuzzy … (1 comments)
There is an epidemic of foreclosures throughout the country, including in Baltimore County and Maryland. Last year there were 1.2 million foreclosures filed nationwide (that's over 2 foreclosures every minute). REO Real Estate Agents are finding their inventory of HOMES in Baltimore, Harford and Cecil County are increasing. That was a huge … (0 comments)
You know, there really isn't much of a difference between a simple car loan and a cheap car finance. It really only differs in, as what the term suggests, the annual percentage rate being lower.
Short Sale Suicide...and How To Prevent It!
Homeowners in Massachusetts are feeling the hit of the current market including the past mortgage trends which have now been called to reality. Those who were involved in adjustable rates have felt the hit when their fixed teaser rates expired and now are paying a hefty hit on their monthly mortgage … (0 comments)
I have done several short sales lately and as you know every bank is different. I feel like I am constantly changing my checklist. I was wondering if anyone has a checklist that seems to work the majority of the time. If so could you please post it in the comments … (10 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.
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)
INAPPROPRIATE COMMENTS REGARDING THE NATURE OF THOSE ACCUSED WILL BE DELETED. 
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". 
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.
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"
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?
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 
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. 
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)
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.html
Dear Friends and Colleagues, 
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)
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)
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? 
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. 
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: 
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)