nonwarrantable: Ch, Ch, Ch, Changes to C, C, C, Condos - 06/10/18 04:14 PM
Ch, Ch, Ch, Changes to C, C, C, Condos
 
At various times over the last 10 years, getting a mortgage on a condominium in California could have been quite the challenge for a homebuyer.  However, some changes that will go into effect at the end of June, 2018, will reflect Fannie Mae's (FNMA) increased flexibility and sensibility with lending on condo, co-op and planned unit development (PUD) projects.  We're going to focus here just on the condo part and explain the key elements that should make it a bit easier for some buyers in the months ahead.
 
Single-Entity Ownership
Single-entity ownership poses a risk … (22 comments)

nonwarrantable: If It Was Easy... - 01/04/17 05:44 AM
  If It Was Easy...
 
As 2016 drew to a close, two seemingly unrelated events came together for me in the form of an unexpected realization.  First, I did a careful review of my past year's production in order to measure progress, spot trends and recognize where improvement needs to be made.  Second, I caught the broadcast of the Ironman Triathlon World Championship on TV.  
 
So let's start with a little background on the more interesting of the two.  Sometime back in the late '80's, I must have been watching TV with my dad on a lazy weekend afternoon … (19 comments)

nonwarrantable: Non-Warrantable Condo Financing - 03/20/16 05:44 AM
 Non-Warrantable Condo Financing
 
The caps of our graduating class had barely wafted to the floor of the high school gymnasium when I packed up the old family car with my guitars, amps and all the naiveté a Midwestern teenager could muster and headed west to the glam metal capital of the world, Hollywood, CA.  Years later, people still ask me, “What was the name of your band?” or “So how did you end up in the San Francisco Bay Area?” or the most laughably absurd, “Did you go to UCLA on a literary scholarship?”
 
Well, I’m going to have to leave the arena … (17 comments)

nonwarrantable: Non(QM)sense! - 03/24/14 09:15 AM
Non(QM)sense!
 
Going into the January 10, 2014 inception date of the Qualified Mortgage, or QM, we in the mortgage industry faced a nonstop barrage of concern about whether or not our lending capacity would stay the course or steadily devolve into nonexistence.
This turns out to be a nonissue here at RPM because we've just rolled out a suite of jumbo loan programs (and to say "jumbo" is nonfactual because the lower limit can be as little as $250K) that address the varied borrowing needs of those for whom mortgage credit has been nonaccessible over the last 5 or 6 years.
All … (2 comments)

 
Rob Spinosa, Vice President of Mortgage Lending, Marin County (Guaranteed Rate, Marin County, CA) Rainmaker large

Rob Spinosa

Vice President of Mortgage Lending, Marin County

San Anselmo, CA

More about me…

Guaranteed Rate, Marin County, CA

Address: 324 Sir Francis Drake Blvd., San Anselmo, CA, 94960

Office: (415) 367-5959

Mobile: (415) 367-5959

Email Me

REX Homebuyer Participating Lender 80-10-10 Loans What Happens if My Appraisal Comes in Low? Can I Get a Cosigner on a Mortgage?


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