tucson mortgage loan officer: First Time Homebuyers Make My Heart Sing! - 11/14/09 02:56 AM
After 30 years in mortgage lending I can still say First Time Home Buyers Make My Heart Sing!  Yep!  When I get to close a loan for a first time buyer I go home at night with a warm feeling of accomplishment and personal satisfaction.  This is the feeling that truly keeps me going in this crazy market we are in.  First Time Home Buyers are anxious, scared and excited!  And there is nothing that even compares to the joy of purchasing your first home.  They are not the biggest loans but they sure are the most fun.
This past week … (7 comments)

tucson mortgage loan officer: Excuse me BofA! You CAN NOT have it both ways! - 11/06/09 01:29 PM
Excuse me BofA! You CAN NOT have it both ways!
 I refinanced a loan this week for some past clients.  I did their purchase loan in 2005.  We did an 80-15-5 because they had another home that had not closed yet.  The 15% second was a home equity line of credit.  Their previous home sold and they paid off the 15% second in March of 2006.  They never drew another dime on the equity line.
 



June 2008:  They received a letter from Countrywide telling them their 0 balance equity line was frozen.  They were not allowed to … (103 comments)

tucson mortgage loan officer: After the storm, the rainbow comes - 10/08/09 01:53 AM
One of the best things I like about living in Tucson is the dramatic storms we get.  From my patio I can watch the storm clouds building and moving up through the valley.  Many times there is a lot of lightening dancing through the sky and ferocious winds.  Usually, there will be torrential rain for a while and you may not be able to see more than a few feet in front of you - but then, after the storm, the rainbow comes.
 
The last two years in our business has been quite like a desert storm.  All the guideline changes came with … (10 comments)

tucson mortgage loan officer: Is IT Point Worthy? - 09/19/09 10:05 AM
Is IT Point Worthy?  I've been thinking about that little phrase quite a bit and it dawned on me how many parts of my day revolve around points of one type or another.
In my business, I very often get a phone call that starts out with
Loan Client - "Hi!  I need a mortgage.  My credit score is excellent.  I have 20% for a down payment and I make a great salary.  I want the lowest interest rate available." 
Me - "Okay.  I can get you a rate of 4.25%!"
Loan Client - "Wow!  I LIKE that rate."
Me - "It … (49 comments)

tucson mortgage loan officer: The Coolest House I Ever Lived In . . . . Memories of a Coast Guard brat - 09/17/09 12:10 PM
I grew up as a "Coast Guard brat".  My dad served for 20 years and we moved around a lot (to say the least).  I went to 15 different schools before I graduated from high school.  We lived all the way from Maine to Hawaii and lots of places in between.
But the coolest house I ever lived in was Grand Traverse Lighthouse in Michigan.  Yep!  I actually lived in a lighthouse.
Grand Traverse Lighthouse is located in the northern most tip of the Leelanau Peninsula about 8 miles from Northport, Michigan.  It was built through an order signed by President Millard Fillmore … (15 comments)

tucson mortgage loan officer: I woke up in love this morning! - 09/13/09 04:10 AM
I woke up in love this morning!  IN LOVE with the beautiful desert!  We are finally well into our rainy "monsoon" season in Tucson.  During a good year we get 11 inches of rain - all year!  Most of that rain will come during the summer "monsoons".  For some reason this year, we have not seen hardly any rain at my house.  We can see the storms building up around the mountains and coming up thru the valley but they never quite seem to make it to our house.  BUT this last week we got several days with a couple of … (15 comments)

tucson mortgage loan officer: Short Sales - they can't cut your commissions IF. . . . . - 09/11/09 07:47 AM
Short sales - they can't cut your commission IF. . . . .the loan is owned by Fannie Mae!  Fannie Mae issued a memo last FEBRUARY that said the servicing lender cannot require the realtors to cut their commission below what was negotiated between the seller and the listing agent unless it was over 6%.
Click on this link to read the notice from Fannie Mae.  The part about commissions is near the middle.
 https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2009/0903.pdf
To find out if the property you are working with has a loan owned by Fannie Mae go to
www.fanniemae.com/loanlookup
Working with short sales is frustrating enough and … (6 comments)

tucson mortgage loan officer: What will you be doing on 09/09/09 at 09:09? - 09/08/09 05:38 PM
As a loan originator with a strong underwriting backround, I am pretty much a numbers kind of person.  I like numbers and I like making them work.  And many times, they are just plain fun.  So here's some fun for Wednesday.  What will you be doing on 09/09/09 at 09:09?
At 09:09 a.m. I will most likely be working on some numbers for a loan that needs to get done.
At 09:09 p.m. I will most likely be in my jammies watching a little bit of television getting ready to call it a day.  And I might just stop to think … (18 comments)

tucson mortgage loan officer: It just doesn't get any better than this! - 09/07/09 09:17 AM
It just doesn't get any better than this!  My grandchildren live in Frisco, Texas and we live in Oro Valley, Arizona.  We get to see them several times a year and this holiday weekend they came to play at Granny and Poppa's house.
Our daughter and son-in-law were attending their 20 year high school reunion at the Westing La Paloma Resort so from Friday morning until noon today, Granny and Poppa got to play with their favorite people!
That meant lots and lots of pool time, lots of game time and a pajama party every night!
Granny and Poppa spent so much time in … (11 comments)

tucson mortgage loan officer: Monitor your credit three times per year - identity theft - 09/03/09 05:12 AM
 

 
You need to monitor your credit three times per year to check for the possibility of identity theft.  I'm sure you know that, by law ,you are entitled to a free credit report once each year. 
But, did you realize that means you can actually monitor your credit three times per year - once, thru each of the three national credit repositories - Equifax, Experian and Trans Union?
Here's a great website you can use - www.annualcreditreport.com.  A good way to make this work is to check one repository every four months.  So, in January, check your credit thru … (6 comments)

 
Jane Penttinen, NMLS #222178 (V.I.P. Mortgage  )

Jane Penttinen

NMLS #222178

Tucson, AZ

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V.I.P. Mortgage

Address: Tucson, AZ, 85718

Mobile: (520) 237-8430

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