The Mortgage Industry at a Glance

By
Mortgage and Lending with Skyline Home Loans NMLS #311662

 

The industry is changing and it can be hard to keep track of where we are. Here’s a flyover look at what’s going on in the mortgage industry right now. The bottom line is this is a great time to be a seller, particularly in CA, but it is also a great time to be a buyer. First-time homebuyers can access down payment assistance programs and get out of the ever increasing rent situation. Move up buyers can still get historically low rates fro that home they intend to keep for many years. Luxury and high-end buyers have more loan programs available for the self-employed and more complex tax situations.

 

 

 

 

Posted by

Matt Brady

 

Builder Sales Manager, NMLS ID#311662

(858)342-8659 cell |844-268-1952fax

 

Skyline logo

 

mbrady@skylinehomeloans.com| mattbrady.skylinehomeloans.com    
1455 Frazee Road., Suite 705| San Diego, CA 92108

 

    

 

 

 

BIA SanDiego 15 year Member and P2 Sponsor

 

 

 

BIA SMCBoard Member since 2012

 

 

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Mortgage / Finance
Tags:
mortgage news
mortgage advice
mortgage lending

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
2,391,147
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Wow very interesting statistics, one quick question what do you attribute the FICO scores dropping to? Is it all the "must haves don't need" stuff reducing the credit worthiness of the new buyers?? Endre

Apr 21, 2017 10:59 PM #1
Rainmaker
340,986
Matt Brady
Skyline Home Loans - Del Mar, CA
Lending With Competence And Character

Hi Endre Barath Jr. 

My take on FICO scores is that they went up after the crash (we used to be around 695 average) because we stopped lending B paper. Now they are trending down because the cost of housing is going up and if you can't pay all your bills, you might be late on a credit card or two. The bureaus have also changed the algorithms to punish late payments more than they used to. One 30 day late in the past 6 months can lower your score 80 points. Worse than that the rules prevent creditors or bureaus from removing a late as a customer service if you have a good explanation. I had a lady who had cancer and chemo last year and missed one payment. They would not correct it.

Apr 22, 2017 11:33 AM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
340,986

Matt Brady

Lending With Competence And Character
Let me earn your business!
*
*
*
*
Spam prevention