An Open Letter from Dave Stevens This from Dave Stevens, President & CEO of the Mortgage Bankers Association:Where We Are Today.We are currently in the middle of a housing crisis. That's right...I said it. Industry experts, economists and even consumer groups have predicted one would emerge, albeit this is not what they expected and it is certainly sooner than anticipated. Yes, the word crisis is harsh and alarmist, but it accurately reflects the complete void of focus on housing as an opportunity by Washington policy makers, including the actions of the regulators and enforcement officials that are narrowing the credit box. Fact - (2 comments)
You know oil prices are low when you do a double take gas station signs at every intersection. The same holds true when half the social media posts you see contain snapshots of what your friends across the nation are paying per gallon!
As we closed out 2014, US consumers did indeed benefit from lower prices at the pump and this provided a welcomed backdrop for holiday travel and discretionary spending. But now, in light of this trend, will it also be important to factor lower oil prices into our interest rate predictions and forecasts (11 comments)
housing: California Down Payment Assistance
- 06/07/11 07:03 AM
California Down Payment Assistance RPM is pleased to announce its status as an approved lender for California's CHF down payment assistance program. If you have any questions about this program, please contact me at 877-270-5959 or rspinosa@rpm-mtg.com. Please note that this program is NOT limited to first-time homebuyers and can be used for both new and existing homes. The down payment assistance comes in the form of a grant and low-to-moderate income levels are eligible. The financing obtained will be a 30-year fixed loan (FHA or VA) and rates are extremely competitive. For maximum financing and purchasing power, this is going to be a (2 comments)
housing: The Dipsea Race, A Marin Institution
- 06/05/11 04:52 PM
The Dipsea Race, A Marin Institution "...your Dipsea begins in 5, 4, 3, 2, 1..." Anyone who has found himself/herself in the start corral in Lytton Square, Mill Valley, on the second Sunday in June can tell you about the feelings that phrase evokes. For me, having completed five Dipsea races, I can just sense my heart (and stomach) rising into my throat. I know I'm soon in for an hour of adrenaline, pain, dread and finally, Stinson Beach in sight, relief. One can read about the Dipsea course itself in a ton of places on the web. The lore and history of its vicious 7.5 miles of stairs (0 comments)
Great. Now that we have been able to indentify some of the legislative, regulatory and economic absurdities foisted upon the real estate and mortgage markets since 2007/2008, it's time to move on. That's right. No more crying over spilled milk. What I want to talk about here is Washington's bent towards this concept of "skin in the game," the apparent panacea for housing's woes. The theory goes like this: Buyers who have a vested (onerous?) interest in the (5 comments)
housing: Weekend Availability + $729,750 Swan Song?
- 05/20/11 09:35 AM
California Real Estate Professionals, I will be available this weekend to assist with your clients' pre-approvals, offer letters and home loan questions. If I can be of service, feel free to reach me on my cell phone at 415-367-5959, or by e-mail at rspinosa@rpm-mtg.com. Buyers can click HERE to complete a pre-approval application.The chart below talks about the conforming-jumbo loan limit change we will likely see in October. While it is easy to resign in confusion/frustration over another of Washington's misguided attempts to "fix" our housing market, there is much work to be done for our buyers and sellers regarding this particular (0 comments)
housing: California Mortgage Rate Update: 04/25/11
- 04/25/11 12:42 PM
Below are today's interest rates for RPM's loan programs. For specific pricing on your scenario, and to get pre-approved without cost or obligation for any of these loan products below, simply call 877-270-5959 or e-mail rspinosa@rpm-mtg.com. Access The Mortgage Dictionary on YouTube to view short videos that define and explain the most important terms and concepts in home financing. All pricing below is at 0 points unless otherwise noted: Conforming Loans (up to $417,000) 30-Year Fixed Rate: 4.750% APR: 4.774% 15-Year Fixed Rate: 4.000% APR: 4.034% 7/1 ARM Rate: 3.625% APR: 3.824% 5/1 ARM Rate: 3.250% APR: 3.460% FHA 30-Year Fixed (96.5% Financing) (0 comments)
housing: Weekend Availability + Implications of a Government Shutdown
- 04/08/11 02:48 PM
Real Estate Professionals, While the Government may be shut down (see below), I will be available this weekend to assist with your clients' pre-approvals, offer letters and home loan questions. If I can be of service, feel free to reach me on my cell phone at 415-367-5959, or by e-mail at rspinosa@rpm-mtg.com. Seriously, should we experience a shutdown of the Federal government, here are some of the implications to the real estate financing process. If you have a transaction in process with another lender, be sure to get clarification on how your escrow could be impacted. For RPM, we are issuing (1 comments)