Steven Cook's (stcook) Blog

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Industry Observer - No Longer Processing Mortgages. - MLO #293441 expired
Gene Mundt in Illinois is giving borrowers a good "early warning" on shopping between now and the end of the year - and the stores' push to get you to use their cards and the negative impact it could have on a home purchase or refinance.   Saying Yes to that New Store Credit Card:  Can it Derail ...
Roy Kelly is helping keep us up to date with the FHA Short Sale rule changes.  They were going to create some real problems in that area - to their own detriment, in most people's minds - and have backed off their plans. Dual agency restrictions for FHA short sales to be removed   Real estate pro...
In a comment following up on his own post, Roy Kelly has posted a notice that the FHA Short Sale "Dual Agency" prohibition has been postponed.   Here is what he had to say: HUD Removes Dual Agency Restrictions NAR members recently received word that the U.S. Department of Housing & Urban Developm...
Gene Mundt in Chicagoland has posted a great piece on something too few people think about when getting a divorce/dissolution.  It even seems that many attorneys may not realize there is anything for them to do after the first two steps Gene mentions.  However, without the latter steps as well, t...
Reverse Mortgage Changes on the Way! The FHA has just released Mortgagee Letters 13-27 & 13-28 dealing with changes to the way Reverse Mortgages, also known as Home Equity Conversion Mortgages (HECM), will be handled in the future. The first changes will become effective with HECM loans that have...
Summer Brings Sales - In Foreclosures XI As summer finally brings some rainstorms, we find that the foreclosure sales in Pierce County are dropping quite a bit at this time.  There were sixteen (16) foreclosure sales found last week in the Tacoma newspaper (TNT),  but there were only eleven (11) ...
Summer Brings Sales - In Foreclosures X   As summer continues warm, we find that the foreclosure sales in Pierce County are dropping a bit at this time.  There were twenty-one (21) foreclosure sales found last week in the Tacoma newspaper (TNT),  but there were only sixteen (16) found this week. ...
Charles Bailey has brought up something that Fannie Mae will be changing in mid November.  That means, if you can get people into this program sooner than then, you can save them some downpayment costs.In another backward-thinking move, Fannie Mae has very subtly announced that they will be incre...
Laura has put together a good explanation of the changes that FHA has put into place to try to help more people who were pushed into foreclosure, short sale or bankruptcy due to job loss or major negative economic change in their life.  This is a great opportunity for some who otherwise would be ...
Seattle Meet-up -- 14 Carrot Cafe We had a great meet-up in Seattle this morning at the 14 Carrot Cafe.  There was discussion that we were having the first one of this cycle, but in checking on the list, find that David Saks in Memphis tried to hold one yesterday - but was the only AR member to s...

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