gene mundt chicago bancorp: FHA Appraisal Changes Coming January 2nd, 2012 - 12/20/11 09:52 AM
FHA Appraisal Changes Coming January 2nd, 2012                 Following Fannie and Freddie's lead taken this last Fall, (September 2011), as of January 2, 2012, FHA (Federal Housing Administration) will be asking Appraisers to rate Condition of Property and Comparables from a pre-determined range of existing conditions.       These existing conditions will be rated from 1 to 6, (1 being new construction - to 6, being in need of total rehab and unacceptable condition).         The same will be true for ratings of Quality of Construction, and other identified factors.  Utilization of these ratings will bring uniformity … (14 comments)

gene mundt chicago bancorp: The Many Uses for BEER. Count them ... 10! - 09/09/11 10:39 AM

     With a name like  Mundt,  you gotta guess that I'm going to like a good German beer once in awhile.  Well, okay ... any good beer once in awhile ...
     So when I saw Cecilia Cannon's (Home Staging by C.C. - Home Staging Chicago & the North Shore)  tweet the other day, "10 Uses for Beer", you have to believe I was all over it!        In her tweet, Cecilia provided a link to her website ... ... and a great list of amazing things you can do with beer.  The list, courtesy of Rachel Ray Magazine,  hosted ideas … (22 comments)

gene mundt chicago bancorp: It's About Accessibility. Grade YOUR Mortgage Lender ... - 08/18/11 07:41 AM
     With it being "Back to School Time", I want you to think ...      What grade does your lender earn for accessibility??
       If that mortgage lender is me, I'm hoping you think an A+!  To keep-on earning that grade, I've started my own website,  I have a blog there, but I contribute to other sites too.  All add to my accessibility.          For my clients' and referral partners' convenience, I have an email address. Easy one-click Contact Forms.  Personal eFax number.  Have my own QR code (very popular now).  I Skype.  Facebook chat … (12 comments)

gene mundt chicago bancorp: Help ME Help YOU! The Importance of Current and Correct Information ... - 08/04/11 07:01 AM
     Just like when housecleaning, I need to attack the "dust bunnies and fritzels" in my databases once in awhile.  Clean 'em up, dust them off, freshen them, and then move them around to new and more current listings.  
     The act of doing this periodically helps me in a multitude of ways.  It serves to re-acquaint and freshen my memory regarding my contacts.  It spurs me to reach out, educate, inform, confirm, solidify, and freshen the relationships I have forged.  It also energizes me.  All good in my book!
     The act of database "housecleaning" also serves to alert me to the fact that I may … (2 comments)

gene mundt chicago bancorp: Teaching Good Money Habits. Sesame Street Can Help ... - 07/21/11 09:48 AM

     Given the recent additions to our family, these days my wife and I are watching Sesame Street once again.  Always big fans when our 2 boys were little, we find ourselves renewing our affection for this program and its characters, both old and new.
     Our grandchildren are fascinated by this wonderful show.  It's amazing to see their little faces light-up when their favorite characters arrive onscreen.  Marilyn, the older child, likes to dance when the music starts-up.  You can see her little brain just "clicking" as she takes it all in.  I know each child's father was much the … (18 comments)

gene mundt chicago bancorp: Understanding Real Estate Appraisals: How Appraisals Can Affect the Outcome of Your Transaction, Pt. 2 - 06/26/11 03:01 PM
     Previously, Part 1 of this post,  "Understanding Real Estate Appraisals.  How Appraisals Can Affect the Outcome of Your Transaction",  offered information regarding facts and details addressed and documented within an Appraisal report.      In this post, Part 2, I will attempt to explain what "logic" is used to support the value reported by the Appraiser in their report.  In today's challenging mortgage underwriting, that logic has to hold up to fairly intense scrutiny.  In truth, it is the underwriter that is the last word regarding any Appraisal.      Due to the issues within the housing market the last few years ... … (8 comments)

gene mundt chicago bancorp: The "Giving Garden" Program. How to Donate or Participate in DuPage, Kane, Cook, Lake, or McHenry Counties in Illinois - 06/22/11 05:02 AM
The "Giving Garden" Program.  How to Donate or Participate in
DuPage, Kane, Cook, Lake, or McHenry Counties in Illinois 
    While reading the online Daily Herald today, I ran across information on the "Giving Garden" effort sponsored by the paper.  Given I had just posted an article regarding  Chicagoland Farmer's/French Markets  recently on my own blog site, the colorful ad and article really caught my eye.
          Every summer, the Daily Herald newspaper sponsors what they call the "Giving Garden" program.  For those gardeners with green thumbs (and producing extra fruits and vegetables) in the Chicagoland counties of Kane, DuPage, Cook, … (0 comments)

gene mundt chicago bancorp: Adding Value to Your Kitchen Economically. Valuable Painting and Staining Tips for Kitchen Cabinetry ... - 06/21/11 02:15 PM

     A short while back, Maureen Bray, from Room Solutions Home Staging, Portland, OR, was kind enough to share  a blog of hers with my readers regarding inexpensive suggestions for updating and remodeling the kitchen within your home.  Maureen's helpful blog still receives many viewers each and every day on my website. 
     Perhaps a new home or expensive remodeling is out of the question for you right now financially, but with some elbow grease, small monetary expenditure, and effort ... you can still achieve big things and add value to your home by following these bits of advice.          The continued popularity of Maureen's post … (11 comments)

gene mundt chicago bancorp: Cure Your Home Buyer's Blues! Take a Heapin' Helpin' of Fannie Mae's HomePath Home Buying Incentives Today! - 06/14/11 01:27 PM
Cure your Home Buyer's Blues!
Get a heapin' helpin' of HomePath INCENTIVES ... Call Me NOW!
FannieMae just announced that they're providing a major "dose" of incentives to cure home buyer's blues.  Incentives that can mean up to a 35% increase in a home buyer's closing credit!  
To help more buyers purchase a home, FannieMae is offering up to 3.5% in Closing Costs assistance to those purchasing HomePath properties. This heapin' helpin' of assistance is available starting June 14th and runs through October 31st, 2011.
Exciting, right?
Who ... and exactly what properties ... are eligibile??   Here are the … (13 comments)

gene mundt chicago bancorp: YOU asked the question. I answered it: How do I get a condominium (project) approved for FHA lending? - 06/14/11 03:58 AM
       I was recently asked via my Facebook page ...
     “How do you get a condominium approved for FHA (Federal Housing Administration) lending?” 
     It’s a great question … and one that is very timely, given the present challenging condominium market in our Chicagoland area and much of the country.  I’ll try to keep the explanation as brief as possible, but please bear with me. (Answer will be found on Facebook as well).        But before proceeding with my answer, I suggest that  (especially if interested in pursuing this action for any reason)  you first familiarize yourself with … (9 comments)

gene mundt chicago bancorp: Today's Mortgage Lesson: The Three R's ... Rumors, Reminder, 'Rithmetic - 06/01/11 07:06 AM
         Today, I want to address 3 things that seem to crop-up frequently when working with home buyers ... and that's ...
           Rumors, Reminders, & 'Rithmetic!                 Rumors first, as I believe misconceptions and untruths can scare potential home buyers from searching out the facts.       The rumor I hear most often concerns the need for down payment.  So many potential home buyers (especially first-time buyers) believe that you must have 20% down to buy a home.  That's just not true!        There are multiple programs that allow for smaller down payments.  Some are:  USDA Rural … (11 comments)

gene mundt chicago bancorp: FREE Landlord Conference to be Hosted by the City of Joliet, IL - June 6th & June 7th. - 05/19/11 05:24 AM
FREE Landlord Conference to be hosted by The City of Joliet, IL   June 6th and June 7th             Because of the attractive prices of real estate properties in many areas, investing in real estate has once again been on the rise.  Couple the lower prices of the properties with low mortgage interest rates and its easy to understand why that is so.         If you go one step further and add the number of Americans projected to be renting in the future into the equation, the argument for entering the investment real estate market becomes even stronger.  At least … (6 comments)

gene mundt chicago bancorp: A True or False Quiz. Dispelling the Rumors Surrounding Mortgages ... - 05/17/11 11:24 AM
     During great parts of my day I find myself  "dispensing"  information.  I literally visualize myself much like a pharmacist or doctor ... dispensing little pills of information, performing surgery to heal credit, suture finances, resuscitate mortgage processings, and deliver successful closings.  
     I love sharing and dispensing that mortgage information to my clients and referral partners.  No doubt about it.  But as we all know, it isn't always easy to get patients to "take" their medicine.  It's much the same with potential homebuyers many times.  They KNOW they have a need for the information being made available.  They UNDERSTAND that they should be … (29 comments)

gene mundt chicago bancorp: Searching for Your New Home Alone? Really? Think That Over ... Pt. 2 - 05/13/11 04:07 AM
Searching for Your New Home Alone?   Really? Think That Over ...  Pt. 2               Are you presently contemplating ... or actively searching for a new home to buy?  If so, you're not alone ...        Are you thinking of "going it alone" ... without the aid and assistance offered by a real estate agent?          In  Part 1 of this blog,  I addressed some of the reasons new homebuyers might think about tackling this venture on their own.  Pursuing a home purchase alone is something a potential homebuyer might want to think long and hard about, especially if that decision … (3 comments)

gene mundt chicago bancorp: Searching For Your New Home Alone? Really? Think it Over ... Pt. 1 - 05/11/11 01:08 PM
Searching For Your New Home Alone?  Really?  Think it Over ... Pt. 1                     Are you presently contemplating ... or actively seeking ... a new home to buy?  If so, you are not alone ...        An article offered on May 5th, 2011 on (written by Annamaria Andriotis) states that the above is indeed true.  More Americans ARE presently out looking for homes to purchase. YOU are not alone in your housing search.             But the article goes on to state that you may also be a portion of another growing statistic ... homebuyers actively searching for their new home … (2 comments)

gene mundt chicago bancorp: Taxes, Assessments, & Property Values. Some Timely Information for Property Owners. - 05/09/11 09:46 AM
Taxes, Assessments, & Property Values
Some Timely Information for Property Owners          It's "THAT" time of the year again.  All across the collar counties of Chicago, property/home owners are receiving (or soon will be) their 2010 Property Tax Bills.  Within these counties, 1st installments of these tax bills are due in June and the 2nd installment in September, as a rule.           While the majority of the property/home owners with a mortgage have their property taxes paid directly out of Escrow Accounts held by their loan servicer, the "sting" of paying property taxes still exists.         I can tell … (20 comments)

gene mundt chicago bancorp: Will County (IL) Property Tax Bills to be Mailed on April 29th, 2011 - 04/27/11 07:34 AM
                        Will County (IL) Property Taxes to be                          Mailed on Friday, April 29th, 2011         Will County (IL) Treasurer, Steven Weber, has announced that the 2010 Real Estate Property Tax Bills will be mailed out on Friday, April 29th, 2011.          Subsequently, the two tax installment payments will be due on:                                               June 1st, 2011                                          September 1st, 2011       From April 30th, 2011 on,  Will County, IL  property owners can make their tax bill payments to Will County in a number of ways.  They can pay at: Will County Treasurer's Office in personMonday – Friday, 8:30 AM – 4:30 PM Go online Pay the Tax Bill at any of … (0 comments)

gene mundt chicago bancorp: Will it be FHA or Conventional Financing? Weighing Financing Options after the April 18th, 2011 Changes - 04/21/11 11:50 AM

Will it be FHA or Conventional Financing?
    Weighing Financing Options after the April 18th, 2011 Changes                   Considering the speed in which changes are occurring in the mortgage industry currently, I'm getting hard-pressed to find a new headline that will catch a new home buyer's eye or interest.         Another change?         Ho-Hum ... zzzzzzzzzzzzzzzzz                   But THIS change that took place as of April 18th, 2011?  HUD   increasing  FHA Monthly Mortgage Insurance  by another 1/4%?  It's a change that's going to shake-up the home buying plans and dreams of many new home buyers moving forward.    … (16 comments)

gene mundt chicago bancorp: Driving the path to Home Ownership. Be prepared ... it's a "tollway" ... - 04/05/11 09:05 AM

84% of Americans still believe that owning a home makes more sense than renting. (Even 68% of renters believe owning makes more sense). Buying a home is considered safer than buying stocks by over 3 times the number of people (64% vs 17%).           Statistics Courtesy of: National Housing Survey by Fannie Mae/4th Quarter 2010 Report

    The above statistics provided by the 4th Quarter 2010 Report of Fannie Mae's "National Housing Survey" prove ... Americans are still in love with the thought of owning their own homes.
     I think … (7 comments)

gene mundt chicago bancorp: Meet and Get to Know Some of Chicagoland and Illinois' Best Real Estate Professionals - 03/30/11 04:32 AM
     Call it the "ex-Chamber of Commerce President syndrome", but I like to get to know, comment, and promote the real estate professionals that are right here in my own backyard in Chicagoland and Illinois.  The lessons honed during my three stints as Mokena (IL) Chamber of Commerce President live on ... 
     And just as current Chambers and their Presidents remind their residents to conduct business locally and keep tax dollars local ... it's my ActiveRain/business policy to do much the same.  
     Now don't get me wrong.  I've got great ActiveRain contacts all over the States and Canada.  And when referral opportunities pop-up … (10 comments)

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) Rainmaker large

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi

708.921.6331 - 40+ yrs experience

New Lenox, IL

More about me…

NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656

Address: Gene Mundt, Mortgage Originator c/o American Portfolio Mortgage Corp., 318 Alana Drive, New Lenox, IL, 60451

Mobile: (708) 921-6331

Office: (815) 524-2280

Email Me




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