mortgage news: The Mortgage Market Week Ahead - 02/08/10 06:00 AM
 
Karl PeidlAccredited Loan ConsultantPleasant Valley Home Mortgage Corp.Phone: 856-252-1224Cell: 609-254-6687kpeidl@pvhmconline.comwww.karlpeidl.com
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mortgage news: Mortgage Market Advisory - 12/14/09 02:15 AM
 
Karl Peidl
Loan Officer 
Pleasant Valley Home Mortgage Corp.
305 Harper Drive
Suite 3
Moorestown, NJ 08057
856-252-1200 x1224
856-252-1240 (fax)
877-296-5454 (toll free)
www.pleasantvalleyhomemortgage.com
 
 
Copyright © 2009 National Home Loan Advocates LLC       
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mortgage news: Inflation and Interest Rates - What's Going On? - 07/28/09 05:07 AM
Karl PeidlLincoln Mortgage Company251 Bellevue Avenue, Suite 102 Hammonton, NJ 08037© Copyright 2009. All About News, Inc.
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mortgage news: Changes to Making Home Affordable and Hope for Homeowners - 05/02/09 04:56 AM
Making Home Affordable - Part 2by Jim Sahnger*In an effort to fill in some of the gaps exposed in the initial Making Home Affordable (MHA) program, Washington has stepped up its efforts to assist more distressed homeowners. In a press release on April 28th, the U.S. Treasury announced an update to the program designed to assist nearly 50% of those homeowners seeking relief from the MHA program.
With millions of lay-offs recently, optimism about the future is fleeting at best. As many as 6 million families are expected to face foreclosure in coming years. Combined with a loss or reduction in … (2 comments)

mortgage news: Federal Reserve Surprises Financial Markets - 03/19/09 12:59 AM
 
Here we go again, with the talking heads on financial news misinterpreting the impact of the Fed's actions on home loan rates.
Here's the scoop. What the Fed just announced is huge - they have committed to buy another $750B in Mortgage Backed Securities, and $300B in Treasuries.
But what does this mean and why do you care?
Their actions provide a demand for Mortgage Backed Securities, which should help keep a ceiling on home loan rates moving much higher in the foreseeable future. That's good news, for homebuyers who are seeing the bargains out there and understanding that now … (0 comments)

mortgage news: Federal Reserve Surprises Financial Markets - 03/19/09 12:58 AM
 
Here we go again, with the talking heads on financial news misinterpreting the impact of the Fed's actions on home loan rates.
Here's the scoop. What the Fed just announced is huge - they have committed to buy another $750B in Mortgage Backed Securities, and $300B in Treasuries.
But what does this mean and why do you care?
Their actions provide a demand for Mortgage Backed Securities, which should help keep a ceiling on home loan rates moving much higher in the foreseeable future. That's good news, for homebuyers who are seeing the bargains out there and understanding that now … (0 comments)

mortgage news: Imminent FHA Guideline Changes - 03/18/09 06:51 AM
According to a letter that went out to lenders this week, The Federal Housing Administration (FHA) plans to make it tougher for borrowers to secure a cash-out refinance mortgage.
Until now, the FHA has approved cash-out refinances for homeowners who have at least 5% equity in their properties and a record of on-time payments for at least one year.
However, beginning April 1, this type of refinancing will be restricted to borrowers with at least 15% equity in their homes.
This is a "temporary change" said current FHA Commissioner Brian D. Montgomery, while the FHA determines whether "permanent measures" should be … (0 comments)

mortgage news: FHA Changes Cash-out Refi Guidelines - 03/17/09 05:52 AM
This update from FHA Letter 2009-08 establishes temporary cash-out refi guidelines.
Here are the 9 things you need to know about these changes:
1. This is a temporary change, and effective as of April 1st, 2009 (No, it's not a joke).
2. When adding a simultaneous 2nd lien, there will be a max CLTV of 85%.
3. Existing 2nd liens can be re-subordinated with no max CLTV.
4. When existing 2nd liens are modified to accommodate the new 1st, there is no max CLTV.
5. Must have 12 months seasoning as primary residence to get max cash-out … (0 comments)

mortgage news: Tax Credit for Homebuyers - 02/20/09 08:39 AM
 
First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. Remember a tax credit is very different than a tax deduction - a tax credit is equivalent to money in your hand, as opposed to a tax deduction which only reduces your taxable income.

The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000. Buyers will have to repay the credit if they sell their … (4 comments)

mortgage news: ****NJHMFA Police & Firemen's Retirement System Interest Rate Change to 3.75%**** - 02/03/09 01:26 AM
Effective February 15, 2009the interest rate for the Police & Firemen's Retirement System Mortgage Loan Program will be 3.75%. 
This program is only available for First Time Home Buyers. 
 Currently there is approximately $64,000,000 in available funds.
Funds dried up very quickly the last time these moneys were made available, so do not wait to take advantage of this opportunity.
Call me for more information at 609-294-4349.
Karl Peidl
Senior Mortgage Consultant
Superior Mortgage Corp.
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mortgage news: The Fed Meets Next Week, Act Now! - 01/22/09 05:26 AM
Superior Home Mortgage Corp. licensed in DE, FL, GA: Georgia Residential Mortgage Licensee #14511, MD, MI, NY: Licensed Mortgage Banker - NY State Banking Department, NC, PA, SC, VA: Virginia State Corporation Commission License # MLB-566, & DC. Superior Mortgage Corp. licensed in CT, MA: Mortgage Lender License # MC3208, NJ: Licensed Mortgage Banker - NJ Department of Banking, RI: Rhode Island Licensed Lender & Broker, & TN. SHM Mortgage Licensed by the New Hampshire Banking Department
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mortgage news: Changing The Rules - Mortgages and The World Series - 01/21/09 02:26 AM
I came into the office this morning to find the latest email notifying me of guideline changes.  In the current mortgage environment, this is a daily occurrence.  Often, we are notified ahead of time regarding changes and loans in progress get grandfathered into the previous guidelines.  Other times changes take place instantaneously with little to no warning.
As I was sipping my morning Casciano's coffee, I was pondering the best way to explain to a customer that the rules changed and we need to make some adjustments.  This is always an issue I fret over as I am not the bait … (0 comments)

mortgage news: Fannie Mae and Freddie Mac Change the Appraisal Process - 01/07/09 07:41 AM


Freddie Mac and Fannie Mae will implement a revised Home Valuation Code of Conduct beginning May 1, 2009. In an attempt to increase the reliability of appraisals, the revised code builds on existing seller-servicer guidelines and will apply to lenders that sell single-family mortgage loans to Fannie Mae and Freddie Mac.
One major difference in the code is that lenders will be required to order appraisals from one central clearing house, which will in turn select an appraiser. The down side of such a process is that lenders will have little to no communication with the appraiser, which means … (6 comments)

mortgage news: Why Now Is A Great Time To Buy A Home - 12/23/08 02:31 AM
For quite some time I have been hearing people offer their theories as to when we will hit the bottom of the housing market.  So many are trying to time things just right so they can get the best possible deal.  The reality is that we will not know when we've hit the bottom until after that time has passed.  Only then will we be able to look back and point at a specific moment as being the bottom.  Today we saw two economic reports released that illustrate why this is such a great time to buy a home.
 
Existing … (0 comments)

mortgage news: Now Is The Time To Refinance/Buy A Home - 12/12/08 08:47 AM
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mortgage news: 4.5% Just A Dream??? - 12/08/08 03:13 AM
Last week everyone was a buzz with excitement.  The Treasury announced they would step up the purchase of Mortgage-Backed Securities issued by Fannie Mae and Freddie Mac in a coordinated move to drive home loan rates down to 4.5%. 
As rates have decreased the past week or so, mortgage companies saw an increase in refinance applications.  News of rates potentially dropping to 4.5% gave cause for many to take a wait and see approach in hopes of landing the lowest possible rate. 
Though the government buying Mortgage-Backed Securities does help drive down rates, it may have been quite careless to announce … (4 comments)

mortgage news: 3 News Stories Every Homeowner Should Know - 12/06/08 10:12 AM
 
During tough financial times, news is king. A simple announcement from the media can instantly send the financial and mortgage markets racing in either direction. As the financial markets continue to adjust to the credit crisis, current and potential homeowners will have to adjust and react immediately as well. With this in mind, lets explore the top three news stories that affect both current and potential homeowners looking to make the most of today's buyers' market.
Headline #1: Mortgage Rates Plummet Thanks to the FedIn late November, an announcement that the Federal Reserve and US Treasury would purchase up to $600 … (2 comments)

mortgage news: What an Obama Administration Means to Your Mortgage - 11/24/08 02:06 AM
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mortgage news: Conforming Loan Limits Stay the Same - 11/11/08 06:13 AM
The Federal Housing Finance Agency (FHFA) announced that conforming loan limits for 2009 will remain at the 2008 level, except in certain high-cost areas. The good news, however, is that mortgage interest rates have remained favorable as well. Combine this with lower home prices and an increase in inventory in many neighborhoods, and today's real estate market presents a variety of great long-term opportunities. Entire neighborhoods that you may not have been able to afford in 2005 could now be open to you!  
 
Below is an excerpt from the press release, in case you would like to review it. Please … (2 comments)

mortgage news: Act Now, Before the Fed Does - 10/28/08 03:45 AM
 

The Federal Reserve is scheduled to meet this week and announce its new Policy Statement and Interest Rate Decision Wednesday...and will cut the Fed Funds Rate once again. This is no big surprise. Throughout 2008, the Fed has lowered key interest rates in an effort to stimulate the economy - including cuts in its Fed Funds and Discount Rates earlier this month in an unscheduled meeting. As we know however, cuts in these interest rates do not translate into lower home loan rates. In fact, they typically move in the exact opposite direction.
That's the reason I wanted to share … (0 comments)

 

Karl Peidl

Accredited Loan Consultant

Moorestown, NJ

More about me…

Address: 305 Harper Drive, Suite 3, Burlington County, New Jersey, Moorestown, NJ, 08057

Office: 8562(521) 200-1224

Mobile: (609) 254-6687

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