monica blanchard: Credit challenged? Trying to obtain a mortgage? Try these tips for FHA financing! - 06/05/08 03:02 PM
 Have you had credit challenges in the past?  Are you trying to obtain FHA financing. FHA uses common sense underwriting.  They realize that bad things happen to good people.  As one of my previous managers put it:  Look at your loan like a court case.  Your loan officer is your attorney.  The underwriter is the judge.  Your loan file is your evidence. Your loan file needs to be well documented to make the underwriter (judge) understand what happened to you in the past.  
 With that said, you would not go to court unprepared, correct?  So, it is well worth your time … (2 comments)

monica blanchard: Shopping for a mortgage? Try FHA! - 06/05/08 01:20 PM
With the mortgage and real estate industry going through so many changes, buyers are confused about the programs available and what the criteria is.  I wanted to write this blog to give everyone who needs it, a little education about FHA mortgages.
Many buyers know enough to get by about FHA mortgages.  However, many still think that FHA is just for first time homebuyers.  If this is what you believed, read on....
Although, FHA is the original "first time homebuyer program", FHA is not just for first time homebuyers anymore.  FHA mortgages are worth looking at regardless of whether you have owned … (3 comments)

monica blanchard: Rate Lock Advisory - 06/01/08 02:42 PM
This week brings us the release of a couple important pieces of economic data in addition to some moderately important reports. There are a total of four or five reports that are worth watching and are most likely to affect mortgage rates.
Monday late morning:  The first is the Institute for Supply Management's (ISM) will release it's manufacturing index.  Analysts are expecting to see a 48.0 reading in this month's release, meaning that sentiment slipped slightly during May. A smaller reading will be good news for the bond market and mortgage shoppers. An unexpected increase could bring higher mortgage rates.
Tuesday:  The only … (1 comments)

monica blanchard: ADVERTISE WHILE EDUCATING: Many buyers believe they do not need representation when purchasing from a builder. - 05/30/08 01:08 PM
It does not cease to amaze me the number of people who are shopping for the best deal for a home or mortgage on the internet.  Our buyers have a wealth of information at their fingertips.  They seem to be more informed.  
However, it does amaze me the number of buyers who honestly do not think they need representation when purchasing a home from a builder.  They are often even willing to take the builders financing from the builder owned mortgage company.
I had previously worked for builder owned mortgage companies.  While working there, I often advised buyers that it … (5 comments)

monica blanchard: Is FHA the "new subprime" - 05/30/08 03:52 AM
As a loan officer, I have been doing mortgages for 18+ years.  With the fall of Subprime loans, I have heard many loan officers refer to FHA as the "new subprime". 
This disturbs me a bit.  FHA has always been around.  It is the ORIGINAL first time homebuyer program although you do not have to be a first time homebuyer. 
Many lenders were not doing FHA loans during the subprime boom.  This was unfortunate as many of the buyers these lenders put on subprime loans could have gone FHA.  Their interest rate would have been lower and fixed. 
FHA … (3 comments)

 
Monica Blanchard (CMG Financial)

Monica Blanchard

Cypress, TX

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CMG Financial

Address: 9740 Barker Cypress Road, Ste. 111, Cypress, Tx, 77433

Office: (832) 575-2213

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