Minnesota Mortgage Blog - Mortgage and Real Estate News You Can Use

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Mortgage and Lending - Cambria Mortgage - NMLS 274132
Mortgage industry news and insights from a 15+ year industry expert. Mortgage and Real Estate News You Can Use

ARCHIVED BLOG POSTS

2011 

FHA and the IRS decide to finally move into the 1980′s… in 2012 The Mortgage Bankers Association said one of its recent priorities has been to get FHA and the IRS to finally accept electronic signatures, which both currently do not for mortgage related activities. Loan application documents, per ...
11/30/2011
Today we bid a not-so-fond farewell to Barney Frank.   He is announcing today that he will not seek re-election in 2012, after 30 plus years in Congress.   Franks for the memories, Barney…and don’t let the door hit you on the way out. We appreciate how you completely screwed the mortgage industry...
11/28/2011
How to ELIMINATE or REDUCE your monthly PMI Minneapolis, MN:  I call private mortgage insurance (PMI) the necessary evil of mortgage industry. If you have less than a 20% down payment to put toward your home purchase, or less than 20% equity when refinancing, you'll have to deal with mortgage ins...
11/27/2011
What do you know about your Mortgage Loan Officer? All Mortgage Loan Officers are required to register with the Nationwide Mortgage Licensing System (NMLS) & Registry. The Registry assigns each Loan Officer a unique identifier number that stays with them throughout their career. Using this number...
11/24/2011
The Federal Housing Finance Agency (FHFA), who oversees Fannie Mae and Freddie Mac, released the improved HARP program guidelines to lenders this week. The new HARP (Home Affordable Refinance Program) program is a concerted effort by the government to refinance more homes and reduce monthly payme...
11/19/2011
HARP II – The Home Affordable Refinance Program has released the updated program guidelines. St Paul, MN:  The HARP program, while not perfect, has been one of the few success stories in the governments attempt to help home owners.  HARP has helped close to 1,000,000 homeowners refinance, and a f...
11/16/2011
I hear the question all the time, "Do I need 20% down payment" NO, you DON'T need 20% down! I saw it again on the news this morning.  Some talking head "Real Estate Expert" was telling the national audience that lenders require 20% down payment. Generally speaking, this couldn't be further from t...
11/09/2011
Are you searching for the lowest refinance mortgage rates? Have you shopped and think you’ve found the lowest refinance mortgage rates and closing costs? Are you sure you found a deal, or did you find the crooked bait-n-switch lender? A lot of consumers like to “shop around” to find the best inte...
11/07/2011
What are you buying, a condo or a town house? Looks like a townhome, acts like a townhome - but its a condo, and that makes a big difference in mortgage financing! People, including many Real Estate Agents, mistakenly assume a property legally platted and developed as a condominium is a town hous...
11/04/2011
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