real estate: Will Spring Come Early This Year? - 01/26/10 07:49 AM
I think we are poised for an early Spring buying season for real estate in 2010.  Several factors come together to make this possible. 
Real Estate prices have dropped like a rock.  Some areas have dropped 40 to 50% or more.  The clearance sale is on! The federal homebuyer tax credit will expire on transactions that do not have an accepted contract by April 30, 2010. Interest Rates remain very low...30 year fixed rates in the 4's. Changes in regulations could create fear of change for those looking to buy homes in the next year.  There is even talk of elimination of … (3 comments)

real estate: Where Have all the Lending Professionals Gone? - 11/20/09 06:51 AM
It is getting more and more common that my company is asked to save a real estate transaction at the 11th hour.  I got three calls in the last two days from listing agents that have had their sales put in jeopardy by pure incompetence from the lender handling the transaction for the buyer.  Two of the loan officers that work for me have also rescued deals this week!  It is worth a few minutes to analyze what is happening.
Often, these transactions were originated by either mortgage brokers or credit unions.  Brokers are at a real disadvantage because their chain … (5 comments)

real estate: It is Playoff Time for Oregon High School Football - 11/18/09 07:55 AM
State of Oregon 6A football playoffs
As those of you who read my blog know, I am a huge football fan.  I love it on every level!  I will watch peewee football, middle school football, high school football, or NFL football.  Heck, I am such a football nut that I will even sit down and watch a CFL game (even though they have goofy rules).  You should also know that I live in Canby and belong to the "Canby Booster Club".  So go Cougars beat Sprague this weekend.  That would setup a showdown with the Centenial - Clackamas winner ( I … (4 comments)

real estate: Curve Balls - 11/02/09 10:52 AM
Every once in a while you have to hit a curve ball.  Last month my father-in-law, who is 81, had triple bypass surgery.  After the operation we moved him into a facility in Lynnwood, Washington call Manor Care.  The correct name should be "Manor Could Care Less", but that is a different story. 
Last week we finally decided Frank needed to move out of "Manor Could Care Less" so he moved in with us.  It has been awesome having him at our home.  He loves our 5 kids dearly and shares all kinds of fascinating family history and stories with us.  … (8 comments)

real estate: Changes in the mortgage industry - 09/17/09 09:35 AM
I came across a great blog that is worth the read.  It is short:
The author relates Darwin's theory of evolution to the evolution of the mortgage industry and especially as it relates to small brokers vs. large lenders.  It seems to me that he is correct in his assertion that we are in a period of survival of the fittest.

real estate: Death of an Industry - 07/23/09 11:22 AM
I opened my first mortgage brokerage company in 1991.  The industry trend was away from banks and toward brokers.  Brokers had several intrinsic advantages:
•1.       They could shop the market place for price.  While most lenders pricing is very close, mortgage brokers could find that one lender that was buying the market on a given day and take advantage.
•2.       They could move the loan to another wholesaler when rates went down.  Although not an ethical approach from the standpoint of the wholesalers, it was common practice for mortgage brokers to lock a rate with one investor and deliver the loan … (61 comments)

real estate: Business in tough times - 10/24/08 10:31 AM
I am a firm believer that you can thrive in tough times with the right attitude and the right approach.  Abigail Dougherty, a business coach and author of "The Straight Edge News" writes the following: 
That conversation reminded me of two lessons many business owners and managers forget."What we do speaks louder than what we say". The corollary lesson is "There is always someone watching".  Here are some suggestions for guiding your business through this current economic unrest.  #1 - Foster Open Communications with Your Employees As the owner/manager it is far better to communicate clearly with your employees on the state … (0 comments)

real estate: Indymac - an insiders view - 07/16/08 04:43 AM
After the most painful year of my 24 year mortgage banking career, I can now report that I am officially an employee of the Federal Government. As everyone knows, last Friday the Office of Thrif Supervision put Indymac Bank into receivership and tranfered most of the assets to a new company, Indymac Federal Bank, operating under a conservatorship directed by the FDIC. Monday came around and all of a sudden we were closing loans! over $10 million closed on Monday over $14 million closed on Tuesday. The FDIC was able to unwind the mess that Indymac had created in the funding … (4 comments)

real estate: Rural America - 05/19/08 08:56 AM
This weekend I took a roadtrip from Portland to Northern Idaho as a chaparone a choral competition for my daughters school.  As I drove for hour upon hour through the Columbia Gorge and Palouse hills of Washington, it occurred to me that there were probabally millions of acres of land that had very little purpose other than as a sanctuary to the wildlife and eco-system the mother nature put there. 
I have been a real estate lender for nearly 24 years and not one bank or mortgage company I have ever worked for would be willing to lend on about 95% of the land I … (0 comments)

real estate: Don't throw in the towel...act - 04/29/08 11:29 AM
I just got a call from a Loan Officer in another state asking for help.  He was looking for the answer to the age old question; How do I become a top producing Mortgage Loan Originator.  I don't think he liked the answer I gave because it wasn't a recipe but a philosophy.  Here are the five steps I believe it takes any sales person to be successful.  It doesn't matter how good or bad the market is, it is your attitude that determines your results:
Network, network, and network some more.  Join every committee, every club, every leads group and every … (0 comments)

real estate: Will Countrywide be the next imploded mortgage lender - 01/10/08 04:34 AM
This is the question circling the mortgage lending community lately.  No question they are in serious trouble.  With the secondary market for mortgage loans in total dysfunction, Countrywide finds itself in a dilemma.  If they stop making loans, they could slow the rate of loss from defaults but where do they generate cash flow for operations.  If They pick up production, they can feed the giant corporate structure they have built and hang on a while longer, but the losses are mounting fast and there is no sign that a secondary market for mortgage loans is going to reemerge soon enough for CW … (4 comments)

real estate: A new look for our industry in 2008 - 12/28/07 06:17 AM
Almost daily I get updates from our corporate office modifying programs, reducing documentation options, lowering LTV's or DTI's, raising FICO scores or eliminating programs all together.  The pool of available qualified borrowers has shrunk dramatically this year.  It is a real chicken or egg question...have lenders tightened because the RE market is declining or is the RE market declining because lenders have their lending standards? 
I saw this market shift coming about a year ago.  An analyst told me at that time that 80% of the borrowers who purchased homes in California in 06 would not qualify in January of 07.  At … (0 comments)

Art Marine, Loans that Fit your Life (Mortgage Solutions Financial)

Art Marine

Loans that Fit your Life

Lake Oswego, OR

More about me…

Mortgage Solutions Financial

Address: 5 Centerpointe Drive, Suite 125, Lake Oswego, OR, 97035

Office: (503) 403-6030

Mobile: (503) 799-7085

Real Estate Finance and Related Political Perspective



RSS 2.0 Feed for this blog