The Mortgage Experts at America's Mortgage

Mortgage and Lending - The Mortgage Experts at America's Mortgage, a Division of Cherry Creek Mortgage Co. - NMLS #241555



For loan applications taken on or after July 30, 2009, the Mortgage Disclosure Improvement Act imposes new waiting periods before closings can take place.  There are many changes, but here are the things that will affect the closing date: No loan can close in less than 7 business days from the ti...
We are seeing an increasing number of title companies requiring an improvement location certificate (ILC) before they will issue a title insurance commitment.  An ILC differs from a survey in that the ILC simply identifies the location of the property improvements (buildings), encroachments, and ...
I am highly amused by the posts that deal with who is to blame for the tough times our nation is facing.  It's always the "other guy" who was dishonest or unethical.  It's never us.  The problem with this way of thinking is that if everyone blames the other guy, then no one really is at fault. He...
The $8,000 income tax credit for first-time home buyers expires on December 1, 2009.  If the buyers do not close by November 30, they will not be eligible for the credit.   We are anticipating that underwriting turn times for every lender in the nation will be a bit longer during the weeks leadin...
New qualifications rules go into effect for certain types of Fannie Mae loans on October 1, 2009. For 5-year ARMs and loans with temporary interest rate buydowns, the borrower will need to qualify for the loan based on the greater of the note rate or the fully-indexed rate. Here's what that means...
One of the most common questions we get asked is "What is the property tax credit and how is it calculated?"  Property taxes are paid in arrears, meaning the property taxes for this year are paid to the county next year.  If you bought a house on July 15, 2009, then the property taxes for all of ...

Chris Thomas

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