realtors: Fannie Mae's Recent Appraisal Guideline Updates - 12/18/14 01:40 AM
 Fannie Mae's Recent Appraisal Guideline Updates     
      Fannie Mae recently updated some of their Appraisal and property-related guidelines ... 
     It's important to note that these updated Fannie Mae guidelines/points are NOT necessarily the policies of Lenders, Banks, and other entities ... and can NOT be applied universally for every scenario or every transaction.
     For instance:  It's been common practice for Appraisers to use Comparable Sales within 6 months of the appraisal date.  
     Fannie Mae states that it is acceptable to consider and include a sale from OVER 12 months ago, as it MAY be more appropriate than other … (15 comments)

realtors: Hold Your Agent Accountable When Selling Your Los Angeles Home - 08/03/13 11:46 AM
Whether selling in Los Angeles ... or elsewhere ... this timely and beneficial post written by  Jane Peters, Power Brokers International, LA/Beverly Hills, CA ... provides great tips and directions as to what qualities and services to look for in your real estate agent when selling your home.
Not all Agents, Brokers (or Mortgage Lenders) are created equal.  There are vast differences in the quality of the service and the magnitude of the experience and expertise you can find.  Do yourself a huge favor prior to selecting the professionals you work with.  Do you homework!  Get referrals.  Get testimonials.  And then … (1 comments)

realtors: What an Underwriter does NOT want to see when viewing Chicagoland Real Estate Contracts - 06/26/13 08:24 AM
What an Underwriter does NOT want to see when viewing
Chicagoland Real Estate Contracts
      Recently, I've seen some repetitive scenarios popping-up on my mortgage clients' Sales Contracts, as they pertain to "concessions" and property repairs.  Several of the transactions I've seen have had Home Inspection issues arise.  Each time this has set-off the back-and-forth of timely negotiations.        I think it's important for clients to understand that ... from an Underwriter's viewpoint ... the ONLY allowable Seller-paid concession on a Sales Contract is for Closing Costs and certain pre-paids, such as Interest, Homeowners Insurance, and Escrow … (31 comments)

realtors: Don't listen to the noise or static around you. Make wise CHOICES based upon the facts contained within YOUR personal mortgage financing scenario ... - 10/29/12 06:08 AM
Don't listen to the noise or static around you.  
Make wise CHOICES based upon the facts contained within
YOUR personal mortgage financing scenario ...  

      Choices ...

                       They exist in every walk of life.  They come in big and small sizes, with big and small consequences.  And they arrive on your doorstep during almost every second of your day.             While Home Buying, you most certainly confront many CHOICES throughout your mortgage financing process.  From beginning to end, you are asked to … (6 comments)

realtors: Not ANY Attorney Will Do. Protect Yourself. Do Yourself a Favor. Retain a REAL ESTATE Attorney for Your Real Estate Transactions. - 11/10/10 11:27 AM
     I've been working on a file for a customer buying a condominium that has proven to be particularly challenging on many levels. I won't bore you with details, but suffice it to say, everything but the kitchen sink has somehow found its' way thrown into the approval process.
     Aaaahhh yes ... the wonders and thrills of modern-day real estate ...
     Even by today's standards ... this purchase has been what I'd politely call a "doozey".  It could definitely serve as a textbook for many finer points of lending and buying a home.  But even with … (14 comments)

     Those thinking of buying a home need good solid sources of information to educate and assist them throughout their entire home buying transaction.  From the moment of the idea's conception through its completion, those two elements are all-important.  If you are a potential home buyer, you should have real estate professionals at your side throughout that entire process.  It should be one long tutorial and hand-holding session.
     Your home buying process and search cannot be started in earnest until a PRE-QUALIFICATION OF MORTGAGE is conducted by a mortgage professional.  In this present real estate market, that fact has never been … (7 comments)

realtors: It's Back to School 4 Realtors, Lenders, and Buyers 2! - 08/20/10 08:24 AM


realtors: Fannie Mae's "Home Affordable Foreclosure Alternative" (HAFA) is Effective 8/1/2010 - 06/09/10 07:30 AM
    Effective on August 1, 2010, Fannie Mae will be offering a new program "Home Affordable Foreclosure Alternatives (HAFA), that is focused on helping those in Pre-Foreclosure status and Short-Sales.
     I see some pre-emptive moves taking place from Fannie Mae within this program, and I find that all positive ... not only on the Homeowner's behalf, but the real estate professionals' behalf, as well. 
     Will it cure all the ills that we are finding within this portion of the industry right now?  Probably not ... but it does provide some new and revamped options with which to … (6 comments)

realtors: Looking For New AR Talent? Discover these Chicagoland AR Members! - 03/25/10 10:13 AM
     Now that I have been on ActiveRain for over a year, I feel I have gained my footing and discovered a little more about my hopes, needs, and wants for my participation here.  I certainly have not abandoned my initial intentions that I brought into my membership, but I have fine-tuned and adjusted them somewhat.  Much of what I changed had to do with my ... for lack of a better word ... "ignorance" regarding the value, relationships, and education I would find through my membership.  I just had no clue that I would discover and be rewarded with so much!
     During … (16 comments)

realtors: My Sense of Humor Eluded Everyone ... But They Thought It Was a Great Idea! - 01/05/10 02:15 AM

     Last week after a particularly frustrating day, I wrote a message on my Facebook.  It was meant to be somewhat "tongue in cheek", but evidently that wasn't as apparent as I thought it was.  My comment was that I was going to put an educational seminar together for today's home buyers.  The topic would obviously cover the lending process, but would also cover all the many changes recently made within our industry. 
     I suggested that the largest portion of the seminar would be directed at those buyers that had previously closed a loan and were looking to refinance currently.  The focus of this portion would … (10 comments)

realtors: Time is Running Out on the First-Time Buyer's Tax Credit. Are you looking for a way to assist those last minute shoppers? - 10/07/09 10:58 AM
     There have been many articles written recently regarding the looming tax    credit deadline for first-time home buyers.  A real debate has been raging ... should or shouldn't the tax credit be extended?
     In the meantime while the pros and cons of this are being debated, I'm experiencing a great number of phone calls asking ... "Can I still take advantage of this credit"?  And ... "Do I still have time to get a deal closed before the cut-off date"?  As the clock ticks down on this program, it is getting harder and harder to answer in the … (6 comments)

realtors: When it Comes to Purchasing a Home ... Teamwork is the Key! - 07/30/09 03:56 AM
             Anyone that knows me at all, knows that I am a huge sports fan.  Okay ... I'll admit it, sports nut!  Whether it's basketball, baseball, golf, hockey, badminton, or football ... you name it ... I've played it or am interested in watching it.  Heck, I've even gotten into bull riding lately.  (Blame my wife for that one!)
             One of the aspects I like best about sports, is the teamwork that is involved in it.  Even sports typically noted for individual competition, such as bull riding and golf, host big events that are team-related.  And, there is definitely no doubt that, even in these sports where … (7 comments)

realtors: Dive In ... The Market's Fine! - 05/07/09 02:17 PM
Getting pre-qualified for your home purchase is very much like sticking your toe in the pool's water to see how warm or cold it is.  Things move slowly and tentatively at first, but get positive feedback on your credit and finances from your lender ... and you want to get in the water the rest of the way!
Now, just as there are differences in the style of entry into water, there are different styles of entry into the real estate market too.  Some people slowly and conservatively ease themselves into the "water" trying to acclimate themselves to the changes in its' temperature and depth, … (5 comments)

realtors: Staging and Music To Your Ears ... "Your House Is Sold!" - 03/30/09 02:07 PM
More and more each day I am becoming increasingly sold on the idea of home staging.  The benefits for sellers and those of us within the real estate industry can be amazing.  If the home sells everyone prospers, and right now we're all searching for ways to increase the likelihood of that happening.
Not too long ago, someone sent me an article that seemed to really offer some valuable and timely advice for sellers looking to motivate buyers while viewing their homes through the use of music.  Everyone has heard of subliminal messaging and mood settings.  Music can be used to create and enhance both, playing on … (5 comments)

realtors: First-Time Home Buying ... Fulfilling the American Dream in Today's Market - 03/23/09 09:20 AM
The state of the nation's economy and current housing market is creating quite differing financial scenarios for some americans.  While many are suffering hardships or battling through mortgage mayhem, the very same issues they are facing are causing quite the opposite effect for others and opening up avenues of opportunity. 
Most areas of our country have seen prices of homes and property drop or level-off.  Although admittedly  harder to obtain than in the past because of the financial credit crisis and more stringent guidelines, mortgages are available for those that have a reasonable amount of debt, have good credit scores, and are and have been employed for a set period … (0 comments)

realtors: A Smooth Path Towards Closing - 03/22/09 11:48 AM
Recently I have been working on a young couple's application for mortgage that has been less than simple and filled with roadblocks.  Lower credit numbers than previously portrayed during initial conversations were the first hurdle that cropped up and caused some anxiety.  Then came the choice of property.  The home had some "issues" and they only made the appraisal and subsequently the lending more of a challenge.  That the purchase was being arranged for and sold through a government-owned agency added to the dilemma.  It was also becoming quite clear that the realtor representing the couple was inexperienced in this type of transaction.  All sorts of … (3 comments)

realtors: Home Staging Success Stories ... Research & Fact Finding - 03/21/09 11:20 AM
Today I have decided to do some hardcore research and fact-finding.  I'm hoping those involved directly in the home staging facet of the real estate industry respond in large numbers to my quest for information and knowledge regarding their services.
For a while now, my wife has spoken about my need to "think outside the box" in regards to my services and marketing.  She's directly involved in my work as she does my marketing and thankfully ... has always served as my number one promoter.  She pushes me to think beyond the marketing I am already seeing done.  She also inspires … (25 comments)

realtors: Forget the Rules of the Past ... It's a Brand New Ball Game! - 03/16/09 08:26 AM
With the onset of better weather, there seems to be a renewed buying interest.  Other incentives, such as more affordable housing prices (especially for first-time buyers), economic stimulus measures (the Fed's income tax credit that can be up to $8,000 for qualified buyers), interest rates hovering in the 5% to 5.5% range, and seller's, banks, and lenders willingness (and neediness) to get homes sold, have also contributed to this upswing in recent activity.  The last area mentioned here ... sellers of all types ... is where I wish to focus your attention.  
During conversations with both realtors and prospective home buyers I have heard the lament, "Banks, FHA, Fannie/Freddie, HUD, and sellers will … (0 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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