Joe's Blog

Mortgage and Lending - Century 21 Mortgage
Generally speaking this blog will deal with mortgages and the mortgage market. As I am in Florida and only originate mortgages in Florida, that will be the main topic discussed.
Fannie Mae recently revised their declining markets policy.  In a nutshell, their terms are: Maximum 97% Loan to Value (LTV) on conventional/conforming loans regardless of the market with their proprietary Desktop Underwriter (DU)/Automated Approval, and 95% LTV maximum financing if the loan is u...
Saw some great articles this weekend talking about the recently passed property tax amendment.  I also happened to move this past year so I was doubly interested in finding out what was REALLY going on.  It seems as if most property appraiser web sites have some good information regarding the rec...
Wow,I know my last blog touched on low rates, but I wanted to get some real numbers behind it.  Looking historically at Freddie Mac's PMMS (Primary Mortgage Market Survey) Data -- PMMS Data -- we are seeing the best loan rates in nearly 3 years.  Only twice in 2005 was the monthly survey data low...
Rates are lower than they have been for almost two years.  A question I hear a lot from borrowers and Realtors is, "where will they go from here?".  While I do not claim to have a crystal ball, it seems to be a given that they will not go any higher and could possibly continue to go down in the n...
I talk with people daily about working on their credit.  It's funny that many of the people who send people to me for advice end up asking me for advice as well.  While I do not know everything, there are some common mistakes and misconceptions running rampant around the world of credit:"That's n...
I was just forwarded this article by my financial adviser.  At first I was hesitant to open.  Much of what they send out is canned and just a CYA thing.  However, this link proved to be dramatically different.  It is not only insightful, but (believe it or not) gives a nice basic introduction to ...
I've gotten numerous questions on the sub-prime market.  Is it still there?  Can someone with a 550 credit score still get a loan?When I am asked if someone with sub-prime credit can still get a loan, my answer is YES.  The REAL question is can someone get a loan that is GOOD for them and fits th...
If you ask 5 different mortgage persons what they are, you are likely to get 5 different answers.  However, most will probably be pretty close, just a bit different perspective.  According to investopedia: "A classification of mortgages where the risk ...
DISCLAIMER:  I can't take credit for this, but it had no author.  It was forwarded to me by another mortgage broker who got it from their processor.  If someone knows the author, please let me know as I would love to thank them for the laugh and give them credit. Dear Po-dunk Mortgage Broker, Ver...
Will it ever stop?  Just got an e-mail forwarded to me from my branch manager.  CitiMortgage just sent out some announcements.  Nothing too out of the ordinary:Discontinued Programs:Alt-A Non-Agency NINA (No Income, No Assets) NIVA (No Income, Verified Assets)SISA restricted to primary residence ...

Joe Kupiszewski

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