Kathy Hoare's (khoare) Blog

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Mortgage and Lending - First Priority Financial - NMLS# 252190

ARCHIVED BLOG POSTS

2009 

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MERS MERS is the Mortgage Electronic Registration System.  It was created in 1997 to improve profits and efficiency among lenders by eliminating the need to record changes in property ownership manually in local land records.  Often you will see "MERS" on the settlement statement for a home purc...
09/30/2009
                                 Mortgage Broker vs. Bank Lender There are pros and cons on both sides when deciding on working with a mortgage broker vs. a bank lender for a home loan.  According to Bankrate.com, "the majority of people find that better deal with mortgage brokers.  About 65 perc...
09/30/2009
The Fast and Easy Rehab Loan in Sonoma County There is a great Fast and Easy Rehab Loan available in Sonoma County that will open up more inventory for your buyers and sellers.  The FHA 203(k) rehabilitation loan is a bit complicated and expensive to use for the homebuyer who is not in the build...
09/21/2009
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FHA Joins HVCC Ranks Ouch!  As recently as Aug 31, FHA was quoted as "not considering adopting the Home Valuation Code of Conduct appraisal system now in place at Fannie Mae and Freddie Mac" ("Inside Mortgage Finance" Aug 31, 2009).  So Friday's announcement came as a shocker.  The FHA Commissio...
09/21/2009
Termite Reports Here in Sonoma County Conventional and FHA lending does not automatically require a pest report.  One major lender released policy change requiring pest report clearance it the report is included in the purchase contract.  This has been the case off and on, but this may indicate ...
09/14/2009
  Highlights from Sonoma County EDB 2nd Quarter Report The Sonoma County Economic Development Board releases quarterly local economic data for Real Estate.  Statistical reports can be found at http://www.sonoma-county.org/edb/reports.htm.  Here some highlights from the most recent report for Sono...
09/14/2009
 Condo PUD  Loan Guidelines are established by Fannie Mae and FHA. As opposed to a single-family dwelling in a subdivision, condos or PUD units are highlighted by "Ownership of a unit, interest in common elements, mandatory homeowners' association membership, and documents defining/restricting u...
09/08/2009
The FHA anti-flipping rules are growing in popularity by lending investors and being adopted for both VA lenders and many conventional mortgages as more lenders are looking to protect themselves from financing property "flips".  Here in Sonoma County where opportunistic investors are putting rec...
09/02/2009
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