KCWenality
Lending changes and fun
ARCHIVED BLOG POSTS
2010
I finished my last NMLS test today. I am done with all my federal and state testing. I have officially passed the required exams for my federal, Kansas, Georgia and Missouri Mortgage Loan Origination licensing. I feel like dancing. These exams have to be completed by the end of the year. Licenses...
11/30/2010
0
Comments
These changes show a greater ability to attain PMI. They won't hurt any of us, only help. If an application is received on or after Dec. 1, 2010: then the maximum DTI is 45% if the credit score is 740 or greater. The rate-term must be a fixed-rate product or a 5-year-or-greater ARM. "Subject to ...
11/29/2010
0
Comments
These changes show a greater ability to attain PMI. They won't hurt any of us, only help. If an application is received on or after Dec. 1, 2010: then the maximum DTI is 45% if the credit score is 740 or greater. The rate-term must be a fixed-rate product or a 5-year-or-greater ARM. "Subject t...
11/29/2010
3
Comments
These changes show a greater ability to attain PMI. They won't hurt any of us, only help. If an application is received on or after Dec. 1, 2010: then the maximum DTI is 45% if the credit score is 740 or greater. The rate-term must be a fixed-rate product or a 5-year-or-greater ARM. "Subject to ...
11/29/2010
FHA released its October Single Family Outlook report and it contains some interesting statistics. Here are the highlights: 75% of purchases funded were completed by first-time home buyers. This is the silver lining of the housing crisis. Thanks to low FHA mortgage interest rates and plunging hom...
11/27/2010
2
Comments
I wanted to say to everyone have a safe holiday. If you are driving or traveling...do it safely.
11/24/2010
0
Comments
Anyone have experience working with Premier in Kansas City? I have a purchase clear to close and we have no recorded deed of the foreclosure. No one takes responsibility either for the error. How can this be possible? How did the home get listed and a purchase contract started without the paperwo...
11/23/2010
I am actively looking for about 5 MO/KS realtors to work with on business: I feel communication every step of the way is a priority ( meaning each touch disclosures sent, appraisal ordered, etc) must be communicated in the process to realtors and buyers. Easy process- No overlays...We are a direc...
11/22/2010
I had a friend of mine who went to a few open houses this weekend in the KC area tell me how great some of the homes looked. She seemed to really enjoy the homes set for the holidays. The home for sale with an over indulgence of holiday cheer made her want to leave quickly. The holidays are a gre...
11/21/2010
2
Comments
I just showed up and took warm cookies to a realtor's open house this weekend and discussed offerings of financing for his buyers. It worked great and gave us some time to chat. We have missed one another several times beforehand. We now have lunch scheduled to get our referral business advanced ...
11/21/2010
Rainer
21,837
21,837
Wendy McDermott
Purchase Loan Specialist
Service Areas
I blog about important changes in the lending world that will affect your business, and the way homes are bought. I will also share some fun items for marketing along the way and hopefully a way to chuckle in this crazy world.
My husband has always said, I have Wenality. This means reality plus Wendyisms. It suits me. ENJOY!