Eric's Blog

Mortgage and Lending - Homeowners Financial Group USA, LLC
We all deserve good news now and again --- So for this week, take the new 95% Conventional Program to the Bank. In light of FHA raising their Upfront MIP to 2.25% this week, there is now another option for those willing to put an extra 1.5% down in cash on a new home.  Here are the details on the...
A story on the news ran last week regarding the ability for homeowners to short sale and then finance a new home almost immediately.  Although this may be in the case in certain circumstances, if the borrower were to finance the new home through Conventional Financing then certain rules still app...
An article on today captured the essence of the problems that FHA has been dealing with over the recent months.  FHA has been struggling to keep foreclosures from piling up, they are paying for 1 of every 4 loans that were made since 2007, and there willingness to insure loans with lower ...
I read an article this morning regarding Lenders coming up with new ways to "Guess Your Income". The article made some interesting points regarding how lenders make decisions based on a person's credit and income. In mortgages, Income, Assets, and Debts all play a major factor in determining who ...
Here is some great information regarding applications received and interest rates for purchase and refinance transactions. Below is excerpt from the Mortgage Bankers Association "Refinance activity fell substantially last week," said Michael Fratantoni, MBA's Vice President of Research and Econom...
Licensing for Mortgage Loan Originators is here!!!  I spent a few days last week in classes, brushing up on Federal and State Law and sharpening my skills as a Mortgage Consultant/Loan Originator.  It may be easy to complain about the licensing requirements, but in reality, it will help to make b...
A little over two weeks remain as we close out 2009 and brazenly embrace 2010.  The rates that were down in the 4% range have shot back to a more expected level to where rates have been throughout the year.  If the theory holds true though, we may see a small dip in rates come the end of December...
Interesting how perspective can change in just one quick second.  As soon as news that the tax credit extension had been approved (see attached document), it seemed people weren't quite as pressured to buy a home, "right now".  That isn't at all a scientific observation, but perhaps just a feelin...
With the passing of Summer and the arrival of Fall; the Holiday season begins to quickly approach.  There were a couple items of note this week within the mortgage market and within the real estate market.  So let's get right to it. Government to continue buying Mortgage Backed Securities - The g...
Rates improved slightly this week as we have seen swings of about .125% in either direction of the 5.5% mark over the last couple of weeks.  These rates do help keep home owner affordability up, which in general is a good thing.  As far as market news, check this out: 1.       Housing Market set ...

Eric Murrietta

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