hud: Mark Your Calendars: Changes Ahead for Mortgage Financing, 1/26 - 01/14/15 04:09 AM
Mark Your Calendars:
Changes Ahead for Mortgage Financing, 1/26 
 
     Both FHA and Fannie Mae (Conventional Loans) have recently announced upcoming changes that will kick-in on January 26, 2015 ...  
     FHA has announced a 50 Basis Point reduction in Monthly Mortgage Insurance costs to Borrowers, resulting in most cases, a half-percent cut on MI charges.  
     An example of cost reduction realized:  
     A $200,000 Loan reaps an $83.33 per month savings.  That reduced Mortgage Insurance payment savings gives a Borrower MORE buying power,perhaps as much as $17,000 in price and/or loan approval.  
     It also means the Borrower realizes a reduction in their Debt-to-Income (DTI) Ratio … (16 comments)

hud: Buying Homes Owned by Banks & Gov. Agencies: What Benefit Might Exist - 03/19/14 03:44 AM
 
Buying Homes Owned by Banks and Government Agencies: What Benefits Might Exist       
     Property Sellers are often showing up on real estate contracts these days as Entities or Companies, not as human beings.  Government Agencies including Fannie Mae, Freddie Mac, HUD, VA,  and banks are as well.
     The housing inventory has been low (at least in Chicagoland housing markets), as local Sellers have been reluctant or incapable of taking a hit financially from lower housing values and sales prices.  Recent trends point to increasing housing values from 2013 and into 2014, and we've been seeing … (8 comments)

hud: New Changes to Mortgage Rules & Regulations Don't Have to be This Summer's "Beanball" and Knock Buyers Out of Their Home Buying Game - 04/18/12 05:33 AM
New Changes to Mortgage Rules and Regulations Don't Have to be This Summer's "Beanball" and Knock Buyers Out of Their Home Buying Game                The ever evolving mortgage business requires an expertise and personal commitment by its professionals to provide excellence in service and quality, not to mention results.  And part of that commitment includes education and the imparting of knowledge to the public, their clients, and referral partners to industry guidelines and changes to those guidelines.       A recent announcement from HUD, on the processing of those loans intended to be insured with an FHA … (8 comments)

hud: 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)

hud: Appraisals & the HVCC ... Are You Frustrated With the Current Hassles? - 06/22/10 06:34 AM

    
     Appraisal issues continue to be a problem for competing Lenders, Banks, and Mortgage Brokers.  I receive calls from Attorneys and Realtors ... even Borrowers themselves (after the loan has not closed through a competing lender), asking, "What can you do to help this situation"?  Currently, this is happening more often that you would think ... or like.
    
     I definitely do not mind receiving phone calls or pleas for assistance regarding this issue.  I'm always happy to have a chance to help and also grow my business.  And, this is a problem where I think I hold a definite edge over many … (33 comments)

hud: Tune Into BlogTalkRadio on April 6th! - 04/05/10 09:14 AM

    
 
     Tomorrow, April 6th, marks an important day for me. 
     Carra Riley of AR's Cosmic Cow Pie is going to interview me on BlogTalkRadio!  I am beyond excited!
     I hope all our friends from ActiveRain, Twitter, Facebook and more will join us tomorrow as we discuss the current status of the Mortgage industry and how it effects the economy, home buyers, sellers, and agents today.
     We hope to educate and entertain all at the same time ... 
    
 
     Carra and I will also be talking about the new HUD requirements, Good Faith … (5 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

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