I Know What Will Happen with Interest Rates - 02/28/10 12:42 PM
 
Borrowers always ask me if I think interest rates will go up or go down.  I can now tell them with 100% certainty what will happen.

Here it is......

Interest Rates will stay the same  - they will never change.

Does that sound odd to you?  I agree that it might.

However, it is true, and I will now explain what I mean. Many borrowers do not realize that every interest rate has a PRICE.  It is the PRICE that changes, NOT the rate. So, one day...4.75% may have a price of 100.000, and the next … (19 comments)

California Home Buyers -- Here's a Smart Way to Buy a Home - 02/28/10 02:31 AM
 
California Home Buyers:  Here's a Smart Way to Buy a Home.
 
If you are looking to buy a home in California, you may wish to consider  my "Free Wholesale Interest Rate Program*." Here's how it works.  If you allow me to refer you to a Realtor Partner who has agreed to participate, then I will pass on the Wholesale Interest Rate to you.
I have pre-negotiated with the Realtor so that they will pay for the Loan Origination Fee.   So, the Wholesale Interest Rate is FREE to you.**
This will save you thousands of dollars. 
 
… (0 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Pricing for Feb. 26 Improves Again - 02/26/10 10:53 AM
 
Pricing for California Wholesale Interest Rates improved again this morning compared to yesterday.  The wholesale interest rate is nearly 4.75%.
 
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 26.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario.
 
This morning, Feb. 26, the wholesale interest rate … (2 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Pricing for Feb. 25 Holds Steady - 02/25/10 10:28 AM
 
Pricing for California Wholesale Interest Rates held steady this morning compared to yesterday.  The wholesale interest rate remains closer to 4.75% than 4.875%.
 
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 25.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario.
 
This morning, Feb. 25, the … (0 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Good News- Pricing for Feb. 24 Improves Again. - 02/24/10 11:27 AM
 
Pricing for California Wholesale Interest Rates improved yet again this morning compared to yesterday.  The wholesale interest rate is now closer to 4.75% than 4.875%.
 
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 24.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario.
 
This morning, Feb. … (0 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Pricing for Feb. 23 Improves Again. - 02/23/10 10:49 AM
 
Pricing for California Wholesale Interest Rates improved nicely again this morning compared to yesterday.  The wholesale interest rate is now exactly between 4.75% and 4.875%.
 
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 23.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario.
 
This morning, Feb. … (0 comments)

Thank You Japan! - 02/22/10 03:07 PM
 
Below is a News Story that shows that Japan has now surpassed China as the number one foreign country who buys U.S. Treasuries.  In case no one else has thanked them, I would like to say, "Thank You, Japan!" We need outside investors to buy our Mortgage Backed Securities if we want to keep our mortgage rates low - and believe me, if you are a Realtor or Mortgage Broker, you want this to happen to keep your business going.
Also, if you are a Home Buyer or looking to Refinance, you should be interested in this too.
… (6 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Pricing for Feb. 22 Finally Improves. - 02/22/10 10:36 AM
 
Pricing for California Wholesale Interest Rates finally improved this morning relative to last Friday's levels.  The wholesale interest rate is now closest to 4.875%.
 
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 22.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario.
 
This morning, Feb. 22, … (0 comments)

Pranav Mistry is a Genius - have you seen this video of where technology is going? - 02/21/10 01:08 PM
 
This video will likely blow you away.  With just the combination of a few technology products off the shelf, look what can be done using the imagination of an MIT student named Pranav Mistry.

The advancements we are getting in having all accumulated knowledge at our fingertips will lead to endless possibilities and opportunities.
 
http://www.ted.com/talks/pattie_maes_demos_the_sixth_sense.html

Enjoy.
 
 
 
… (4 comments)

Do You Celebrate Your Success -- or Do You Dwell on "Woulda, Coulda, Shoulda?" - 02/20/10 12:42 PM
 
Do you celebrate your success, or do you dwell on "Woulda, Coulda, Shoulda?"

On Monday of this week, rates were at their best.

Then we had 4 bad days in a row, and rates skyrocketed from 4.75% to 4.875%!!

If you see the glass as half empty - you can focus on how much more it would cost you to maintain that 4.75%.
 
However, I would like to encourage you, the borrower, to consider another way to look at your situation.
 
For example, at the beginning of the week, you would have been looking … (2 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Pricing for Feb. 19 Slides Again. - 02/19/10 11:24 AM
 
Pricing for California Wholesale Interest Rates worsened again this morning relative to yesterday afternoon's levels.  The wholesale interest rate is now between 4.875% and 5.000%.
 
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 19.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario.
 
This morning, Feb. … (0 comments)

Has Anyone Seen Shaun White? - 02/19/10 01:57 AM
 
At the Vancouver Olympics, I was enjoying watching Shaun White defend his Gold Medal in the half pipe event. I regret to report that as he picked up speed and went UP the slope, he began to soar so high that he actually escaped Earth's gravity and launched into space. I hear he was awarded the Gold Medal anyway, but we are all anxiously awaiting for him to re-enter the atmosphere. Way to go Shaun!  Hurry Back!
 
 
… (5 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Pricing for Feb. 18 Worsens by a Half Point - Ouch - 02/18/10 12:03 PM
 
Pricing for California Wholesale Interest Rates worsened this morning by up to a half point relative to yesterday morning's levels.  The wholesale interest rate is between 4.75% and 4.875%.
 
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 18.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario.
… (0 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Pricing for Feb. 17 Drops Back to Yesterday Morning - 02/17/10 11:03 AM
 
After a nice improvement yesterday afternoon, pricing for California Wholesale Interest Rates dropped back this morning to yesterday morning's levels.  The wholesale interest rate is just above 4.75%.
 
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 17.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario.
 
… (0 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Pricing Improves throughout the day- Feb. 16. - 02/16/10 11:26 AM
 
Pricing for California Wholesale Interest Rates worsened just slightly this morning from yesterday.  The wholesale interest rate is just above 4.75%. (Late breaking news - pricing improved later in the day)
 
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 16.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario. … (0 comments)

South Fork of the Yuba River Rapids at Bridgeport - Anyone Have an Inner Tube? - 02/16/10 03:00 AM
Here is another video of the South Fork of the Yuba River - taken a few hundred yards upriver from the wooden suspension bridge at Bridgeport.  This is actually two videos that have been edited together, as the 2nd half was taken after I hopped out to some rocks in the middle of the river just below the rapids to get a better view.  You'll notice you can't get any closer to rapids than this.
 
 

… (7 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Pricing Improves - Back to 4.75% for Feb. 15. - 02/15/10 11:14 AM
 
Pricing for California Wholesale Interest Rates improved again since Friday.  The wholesale interest rate is back to 4.75%.
 
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 15.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario.
 
This morning, Feb. 15, the wholesale interest rate for 4.75% … (2 comments)

Video of the South Fork of the Yuba River outside of the little town of Washington at the River Rest Campground - 02/14/10 10:26 PM
 
This is a video of the South Fork of the Yuba River by the old historic gold mining town of Washington in Nevada County.  Outside of Grass Valley, Washington is roughly between Sacramento and Lake Tahoe in the Sierras.  Right before you get into town (population 180), there is the River Rest Campgrounds on the left, located right on the river. This video is a stretch of the river that is very swimmable, just steps from where you can camp with your RV.  This river is one of the most scenic in all of Northern California.
 
 

… (5 comments)

Great Job Vancouver! - 02/13/10 12:12 AM
Great Job, Vancouver! I am watching the Opening Ceremonies and I just love hearing all the stories behind the very special athletes who are honored to compete in these Winter Olympics. It was sad and heartwarming to see the contingent from Georgia who had one of their teammates die today in practice - and the stadium gave them a standing ovation. I wish all the athletes well and hope the rest of the Olympics is as inspirational as these beginning ceremonies are. Go USA!
 
 
… (3 comments)

Loan Modification or Principal Reduction? or Both? - 02/12/10 02:15 PM
 
Loan Modification or Principal Reduction?  or Both?
 
 The topic of Loan Modifications and/or Principal ReductionPrograms is one of my favorite topics.  
A Loan Modification and/or Principal Reduction can significantly impactan individual's ability to keep their home - and there is also a broader impact to financial institutions, neighborhood property values, and the tax payer.
 
As a mortgage broker, I am personally not a fan of Loan Modification companies, as there is potential for abuse as everyone seemed to be doing them.  On the other hand, there are certainly good, ethical loan modification companies out there.
 
However, we … (8 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Pricing Improves - Nearly 4.75% for Feb. 12. - 02/12/10 10:18 AM
 
Pricing for California Wholesale Interest Rates improved a little  today.  The wholesale interest rate is back to being nearly 4.75%.
 
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 12.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario.
 
This morning, Feb. 12, the wholesale interest rate … (2 comments)

The Devil is in the Details to get a Loan Approved - 02/12/10 02:06 AM
 
Underwriters these days expect perfection in the loan file, so it is imperative that your loan officer be meticulous and oversee every single condition and issue that might pop up from over-zealous underwriters. Here is just one small example that occurred today for a refinance. I have a client who is a Senior Executive for a very large corporation, and who has made a significant bonus for many years.  Because the bonus makes up a pretty fair percent of the total compensation, it was needed in order to qualify. It all came down to a form that the Human Resource … (5 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Pricing Back to Between 4.75% and 4.875% for Feb. 10. - 02/10/10 11:57 AM
 
Pricing for California Wholesale Interest Rates deteriorated a little over the past two days.  The wholesale interest rate is back to being between 4.75% and 4.875%.
 
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 10.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario.
 
This morning, … (0 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Pricing Holds - Still at 4.75% for Feb. 8. - 02/08/10 11:18 AM
 
Pricing for California Wholesale Interest Rates remained stable over the weekend.  The wholesale interest rate is still exactly at 4.75%.
 
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 8.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario.
 
This morning, Feb. 8, the wholesale interest rate … (3 comments)

Finally - Clarity from RESPA on where to put YSP on the New GFE - 02/07/10 02:45 AM
 
On January 28, RESPA published their updated FAQs, which is a 57 page document.  If anyone wants a copy, just leave a comment requesting it and I will send one to the first 25 people - as I'm sure I will get 500 requests  ;-)

If you look on page 25, 26, and 27, they now make it clear that YSP (Yield Spread Premium) is NOT to be included in the "Origination charge" on page 2 of the New GFE (GFE2010).

There is only one place to put YSP, and that is in Box #2 in Section … (6 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Pricing Improves Again- Now at 4.75% for Feb. 5. - 02/05/10 11:21 AM
Pricing for California Wholesale Interest Rates improved again this morning from yesterday.  The wholesale interest rate is exactly at 4.75%.
 
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 5.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario.
 
This morning, Feb. 5, the wholesale interest rate for … (0 comments)

YSP, Box 1, GFE2010, Initial Fees Worksheet - Let's get this right!! - 02/05/10 01:48 AM
 
I predict (or shall I say "hope") that in 30 days, HUD and RESPA will finally clarify this one narrow, but very important point about how to properly fill out the Initial Fees Worksheet which drives the New GFE (Good Faith Estimate), or more properly called "GFE2010." This topic, while admittedly not of great concern to Realtors or Consumers, nevertheless is a hotly debated topic in the mortgage industry as it can impact the mortgage broker's income if filled out incorrectly. Time doesn't permit a lengthy analysis right now of how a mortgage broker should fill out the Initial Fees … (3 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Pricing Improves Nicely- Now Closest to 4.75% for Feb. 4. - 02/04/10 11:40 AM
 
Pricing for California Wholesale Interest Rates improved nicely this morning from yesterday.  The wholesale interest rate is now closest to 4.75%.
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 4.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario.
 
This morning, Feb. 4, the wholesale interest rate … (0 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Pricing Unchanged - Still Between 4.75% and 4.875% for Feb. 3. - 02/03/10 12:25 PM
 
Pricing for California Wholesale Interest Rates this morning is unchanged from yesterday.  The wholesale interest rate is still between 4.75% and 4.875%.
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 3.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario.
 
This morning, Feb. 3, the wholesale interest … (0 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Pricing Stable - Still Between 4.75% and 4.875% for Feb. 2. - 02/02/10 11:41 AM
 
Pricing for California Wholesale Interest Rates is little changed from yesterday.  The wholesale interest rate is still between 4.75% and 4.875%.
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 2.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario.
 
This morning, Feb. 2, the wholesale interest rate … (2 comments)

California Wholesale Interest Rates for 30 Yr. Fixed - Pricing Improves - Still Between 4.75% and 4.875% for Feb. 1. - 02/01/10 12:31 PM
 
Pricing for California Wholesale Interest Rates improved at the 4.875% level this morning.  The wholesale interest rate is still between 4.75% and 4.875%.
 
This was for the 30 Yr. Fixed for a Conforming Loan for Feb. 1.
 
The table below is the result of my daily Loansifter search to find the best wholesale interest rates for a typical scenario from my company approved lenders in California. 
 
Note that pricing can change at anytime throughout the day, and your pricing may be different based upon your particular scenario.
 
This morning, Feb. 1, the wholesale … (0 comments)

 
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Rick Pelleriti-MBA. American Capital Corp.

Penn Valley, CA

More about me…

American Capital Corporation

Address: 1741 East Roseville Parkway #500, Roseville, CA, 95661

Office Phone: (530) 205-9145

Cell Phone: (408) 672-1980

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