texas mortgage: Government Shut Down & Impact on your Home Purchase Closings
- 10/01/13 05:31 AM
As many of you are already aware Congress was not able to come to a resolution by the midnight Eastern Time deadline to avoid a partial shutdown of the federal government. As a result, this comes with some impacts to all lending institutions, including Fairway Independent Mortgage Corp (Fairway Mortgage). Some government agencies have not yet issued specific guidance. We are speculating on some of the likely outcomes based on industry sources and past experiences in 2011 and 2012 where shutdowns were threatened. With that said, here is the impact (summary) on the recent Government shut down on your client's new … (8 comments)
texas mortgage: Big Change in Appraisal Standards: The MLS and the Real Estate Agent!
- 08/31/11 02:32 PM
Big Changes in Appraisal Standards Begin Sept 1 2011: Appraisals continue to be a challenge in many real estate transactions. If you live in Texas and have ever had value come in low, then you know how frustrating it can be to look at the comparable sales and try to make sense of how the Certified Appraiser came up with that value. Underwriters and Lending Investors throughout the country struggle to make sense of the Appraiser’s commentary and adjustments on appraisals as well. In an attempt to provide consistency and accuracy to the appraisal process, Fanniemae and Freddiemac have implemented the UMDP (Uniform … (1 comments)
texas mortgage: Who's Your Browser?
- 08/02/11 04:04 AM
According to the "psychometric consultancy' outfit AptiQuant, users of Internet Explorer have a lower than average IQ. Based on what? Who really believes this stuff?
AptiQuant sent online IQ tests to more than 100,000 people and, based on the responses it got, came to the fascinating conclusion that users of the Internet Explorer browser are likely to have a lower than average IQ. Those that use Firefox had the highest IQ and Chrome and Safari fell in between. The study supposedly had the same results when it was administered five years ago! On its website AptiQuant say it "provides … (4 comments)
texas mortgage: Wait vs Rate - The Great Debate!
- 06/21/11 05:27 AM
Have you noticed your clients "sitting on a pole" waiting for the tide to go out? Sure - the correct statement would be "sitting on the fence" waiting for prices to continue to fall? Houston area Realtors representing buyers in the Houston Texas housing market are well aware of the effects that waiting to purchase will have on the housing recovery throughout Texas. But - the real question is whether home buyers understand the "true cost" of money and how waiting to purchase a home will negatively impact their overall "wealth position" in the long run as interest rates increase? … (2 comments)
texas mortgage: Protect Your Identity
- 04/21/11 12:38 PM
Protect Your Identity We at Fairway Independent Mortgage Corp with offices located in Houston Texas take your privacy very seriously. At every step of the way, we are careful to store, access and transfer your information using the most secure methods available. In our dedication to providing you services that improve your life, we want to take that thought one step further by providing you with a resource to protect yourself against identity theft and misuse by the credit industry in general. http://www.optoutprescreen.com or 1-888-567-8688 The website and phone number above provide a way for you to "opt out" of a list … (0 comments)
texas mortgage: Good News - The Economy is Improving!
- 01/11/11 03:54 AM
HOUSTON, TX: Good news - The economy is improving! Even though last Friday's Jobs Report didn't meet the lofty expectations created by ADP, the prior month's readings did show more job growth than previously reported, and the trend is clearly improving. How does the Labor Department derive the headline job numbers? Through the use of what is called the "Birth/Death model" of estimating. The Birth/Death ratio comes from the Bureau of Labor Statistics, by their practice of physically calling businesses and tracking how many jobs they have added or removed, and then making some estimations or assumptions based on past trends...and … (0 comments)
texas mortgage: Tax Credit and National Flood Insurance?
- 07/01/10 06:04 AM
Houston, Texas: According to Steve Jacobson, CEO of Fairway Independent Mortgage Banking Corp., Fairway Mortgage has completed our biggest funding month of 2010 - June funding 1,656 units on our Warehouse Line. Most important - all of Fairways' Home Buyer Tax Credit loans made it to the closing table and funded.
"Great job by the entire "network" from - Branches, Underwriter, Closers, and most of all the Wiring Department. The "network" truly worked together as a team to meet the deadlines for our customers - something a lot of Lenders did not accomplish."
In other news - Last night the Senate … (0 comments)
texas mortgage: Two of the Best Texas Neighborhoods for the Money 2010
- 05/05/10 09:46 AM
Two of the best Texas neighborhoods for the money in 2010 were recently listed by NeighborhoodScout.com. "The best neighborhoods for the money are neighborhoods that combine many premium qualities, including excellent public schools, low crime rates, many large, owner-occupied single family homes, and neighbors with four-year college degrees, master's degrees, MDs or PhDs, but where median home prices are surprisingly low compared to other premium quality neighborhoods in the area," says Andrew Schiller, a PhD geographer and the creator of NeighborhoodScout.com.Schiller explained that these are not the least expensive neighborhoods, but rather premium neighborhoods at remarkable bargain prices for their metropolitan … (0 comments)
As many of you are already aware Congress was not able to come to a resolution by the midnight Eastern Time deadline to avoid a partial shutdown of the federal government. As a result, this comes with some impacts to all lending institutions, including Fairway Independent Mortgage Corp (Fairway Mortgage). Some government agencies have not yet issued specific guidance. We are speculating on some of the likely outcomes based on industry sources and past experiences in 2011 and 2012 where shutdowns were threatened. 
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