texas home loans: About Last Night.....North Dallas Happy Hour!!
- 06/19/08 07:22 AM
The Babe Magnet that I am.... I had the great pleasure of meeting up with fellow Rainers Lorrie Semlar and Sharon Parisi last night for a little Happy Hour at the new and hip Sting Club in N. Dallas. The food was simple but good and the beers were cold. I am even starting to see a few more Realtors at these little shindigs which started out as a get-together for Mortgage Professionals. If your ears were burning last night.... It was for good reason. And the hottest topic of the night was.... Did Donna Harris get that phone call? And what did they … (19 comments)
texas home loans: NAHB Green Building Legislation Offers Incentives to Lenders
- 06/17/08 10:56 AM
I know that we have a lot of 'Green' Realtors who post here. I have enjoyed their perspective on the topic. Here is an article about some proposed legislation to encourage more 'Green' through lender incentives. -------------------- The National Association of Home Builders (NAHB) urged Congress this week to move forward on legislation to improve energy efficiency and sustainability in housing without driving costs above manageable levels. Jerry Howard, NAHB executive vice president and CEO testified before a House Financial Services Committee hearing on H.R. 6078, the Green Resources for Energy Efficient Neighborhood Act (or the GREEN Act) of 2008. NAHB … (4 comments)
AMP Networking Event Wednesday June 18th 5:30PM to 8 PMOver 150 people Attended the Dallas AMP Sting May Event - South of Beltline on the East Side of the Tollway Click here for Sting Website
Tom BurrisDallasLoanGuy.comDallas, TX "Your Dallas Mortgage Consultant" http://www.dallasloanguy.com/Texas Home Loans I write about Texas Home Loans , live in the Dallas, TX area and lend across the entire Great State of Texas!! Subscribe to My Blog and stay informed about current lending … (7 comments)
texas home loans: Baseball Time in Plano, TX - Plano Baseball Association
- 06/14/08 03:59 PM
I am an assistant coach on my son's 7yr old Coach Pitch Baseball team. I have been very pleased with the organization we are playing with this year. The Plano Baseball Association is certainly a community of people who believe in the phrase "It's All About The Kids". I have been extremely pleased interacting with the staff at Plano Baseball as well as the opposing team coaches. Everyone seems to subscribe to the "Have Fun First" mentality.
http://www.planobaseball.org/
In recent action.... The Sidewinders' Ethan Burris goes for a tag of the opposing team's runner.
1. Who is your favorite musical artist? (post a youtube video) Wow, this isn't easy. And I might surprise some folks by my pick. But I would have to say that the one man I always have migrated back to regardless of where my eclectic tastes have taken me is Johnny Cash. The 'Man in Black' was a great story teller. And though he spent most of his charitable time playing for convicts... see his 'Folsom Prison Blues' stuff.... He has … (11 comments)
texas home loans: What Happens at a North Texas ActiveRain Get-Together..... Well, You Know.....
- 05/30/08 03:46 PM
Once again, two ActiveRain Women spent the evening in my arms!!! And I couldn't be more proud to be associated with these two.... Lorrie Semlar, one of the most 'down to earth' Realtors that I know. <= You know what I am talking about!!! An actual 'person' behind the photo and someone who looks you in the eye like you are an equal person in her world. I am glad to know Lorrie. I am glad to call her my friend!! Karen Otto, the Real Estate Stager to the Stars!! The best marketing partner that a person can know. Helpful, Pro-active, … (15 comments)
texas home loans: The DallasLoanGuy's Most Recent Testimonial
- 05/22/08 01:41 PM
Tom,Of course we're now on the homestretch and we still don't know if underwriting is going to tell us to kiss their behinds or not...BUT I wanted to personally thank you for your time, patience, honesty, and everything you've done for us. You represent your profession very well. As you know we were faced with dealing with some not so good brokers but you sir, have really impressed me. I will send EVERY person I know your way not because you're a "yes" man but because you are a "honest" man who will lay the facts out for your clients and … (1 comments)
texas home loans: When Final HUD Approval isn't so Final.
- 05/16/08 04:28 PM
Today I had the pleasure of sitting in on a courtesy closing at a local title company. The courtesy closer was great!! We were closing for:Fidelity National Title4540 FM 1960 WestHouston, TX 77069 Upon my arrival at the closing I discovered that the Final HUD-1 approved by me, my processor and my closing department had been altered. A $120 fee for the seller had been inserted at the last minute. The final HUD had been shared with the client before closing and she had a cashier's check in hand. A happy day for my single mother and First Time Home buyer turned sour. … (18 comments)
texas home loans: I Was Originating FHA..... When FHA Wasn't Cool!
- 05/10/08 12:47 AM
Have you heard about the 'New Subprime'? Or how about the 'Mortgage Bailout'? Well, it is FHA all the way, baby!!! Uh, er, or is it? Do you realize that FHA has been around since the 1930s? And that it never was subprime. Nor was it meant to be the only option. Conventional Mortgages have their place. But for high LTV Mortgage Loans, FHA has been a great way for a borrower to save money off their mortgage payment. So what is so new about it? Well, not much realy!! FHA is all the buzz in the mortgage industry right now. … (9 comments)
texas home loans: CNET's Tips & Tricks Ends Online Course Program
- 04/21/08 04:24 PM
I posted some links a while back to CNET and their free courses. It seems that they are ending this service and you will have very little time to download your courses before they are gone forever. I hope some of you learned something from this free resource. IMPORTANT: All class content (class lessons, posts, course completion certificates) will be removed from our site as of Wednesday, April 30, 2008. To save content, follow directions below: CNET will continue with their free tips section and will be a page to certainly bookmark. I will keep an eye on it for the Outlook Tools … (10 comments)
texas home loans: North Texas Realtor / Lender Happy Hour!!
- 04/16/08 03:57 AM
Ok, I cut and pasted the email I got from Scott Harris...... and pasted it here since he doesn't post these here in 'The Rain' I cannot attend this month, but if interest is there I will be happy to coordinate a meet & greet at this great event. I have attended many of these in the past and will continue to go and network in the future. The new location sounds exciting too!! I don't know anything about the door sponsor and this 'greAt mortgage payoff' but I can guess that it is the same old 1st Lien HELOC in a new package. … (3 comments)
texas home loans: Foreclosure: New Fannie Mae Guidelines
- 04/14/08 09:10 AM
https://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2008/0808.pdf Fannie Mae has increased time in the penalty box for people with foreclosures on their credit report. Currently a 4yr time frame must pass and that has been increased to 5yrs. No doubt this is in answer to the many borrowers who can pay their mortgage and elect to let their homes go back to the bank because they owe far more than the home is worth. The banks call it Jingle Mail when a borrower just flat out 'does the give-up' and mails in their keys. Banks are usually left holding the bag on a home that cannot begin to payoff … (5 comments)
texas home loans: Fannie Mae says no to credit scores below 580
- 04/02/08 08:00 AM
Fannie Mae is setting new rules about what mortgages it will buy, including a credit score threshold for the first time. The District-based mortgage giant has told lenders it will no longer buy most loans made to borrowers with credit scores below 580, nor will it buy loans that have been more than 60 days past due within the last year. http://dallas.bizjournals.com/washington/stories/2008/03/31/daily33.html More and more FICO requirements. Pay your bills on time and keep those credit card balances low, low, low. Clients will need to be wary of their credit scores and those who do not use a lot of credit will be forced … (10 comments)
texas home loans: FHA Non Occupying Co-Borrower
- 04/01/08 08:11 AM
FHA Non Occupying Co-Borrower rules in a nutshell. Typically called a 'Kiddie-Condo' loan. FHA allows family members to help their kids buy their first home. Whether they are in school with no income or out in the real world and just need a little extra income to qualify. FHA allows for a family member to be a non-occupying co-borrower in order to assist in qualifying. This is available when your borrower would qualify for the loan when considering their credit but they wouldn't qualify because of debt ratios, employment, income and assets. Adding a NOCB does not resolve credit issues!! … (17 comments)
texas home loans: The Death of 100% Financing.... The End is Near!!
- 02/12/08 04:31 AM
I got notice late yesterday that beginning March 1st, loans above 97.01% will no longer be eligible for PMI. 3% down payment may be the name of the game going forward.... and FHA Loans have never looked so sexy!! Monthly PMI on Gov't loans is 1/2 of what you are charged on conventional loans. Yet, many consumers have opted for 100% financing because they do not have money for the down payment. Not to be confused with the client who 'elected' 100% Financing, these people who are paying twice as much for PMI are doing so for a reason. They simply cannot put any of … (57 comments)
A while back I informed my friends here that Maverick Residential Mortgage had shut his doors. I appreciate all of the kind words of support from those who called or wrote me with words of encouragement. In recent days I have taken many phone calls from hiring managers and recruiters and was flattered by the offers. One company who didn't call was PrimeLending. Prime doesn't recruit.... Good loan officers seek them out on their own. I spoke to many loan officers about the biz and was pretty much assured that my thinking was sound. PrimeLending is the place to be!! They … (29 comments)
texas home loans: Maverick Residential Mortgage Shuts Doors!! Another One Bites The Dust!!
- 01/16/08 02:09 AM
I wanted to wait and post this until after we made Lender Implode. Well, we have now and even made the Channel 11 News. Rumors abound that the CFO went missing with $4MM and the FBI is on the case. But all that I can confirm to you is that payroll was yesterday and we did not get paid!!! NOR are they communicating with us WHEN we will get paid!!! Moving forward: Tom Burris & DallasLoanGuy.com is portable. As soon as I digest the 10(edit: make that 20+ so far) recruiter calls and countless emails I received yesterday, I will hang my hat with a reputable … (28 comments)
texas home loans: Bank of America buys Countrywide Financial for 4$BB
- 01/11/08 01:13 AM
Noone Can Do What Countrywide Can..... NOT!! Bank of America just topped them. Of course we knew this was coming.... Countrywide's Execs were practically asking to be purchased in the media. And the $2B loan a few months ago should have been the first clue. Clue #2? Well, that would be the fact that BofA shut down it's wholesale lending arm.... which was struggling. This purchase makes perfect sense for both parties. Countrywide needed money and the rates they would have to pay for loans would hurt them. BofA needed a wholesale lending arm that knows how to lend in the wholesale market. Both … (19 comments)
texas home loans: Get the Skinny on YOUR Neighborhood.... Great Resource for House Hunting!!
- 12/26/07 06:55 AM
ZipSkinny.com was recently introduced to me by a friend. It looks like a wonderfull little resource for those in the Housing Market. A quick snapshot of what makes up your Zipcode is a click away.I simply put my 5 digit Zipcode into the box and click enter. This tool uses 2000 Census Data for the output. See the output below.... Some of the charts didn't do right.... but I think you can see the potential here. Realtors: Can post 'The Skinny' on the neighborhood surrounding their listings. Home Buyers: Can get a great snapshot of the neighborhood surrounding a few homes they have … (15 comments)
I had the pleasure this evening to spend some time with Lorrie Semler and Karen Otto. As always, it is a pleasure to spend time with quality individuals who are committed to their segment of this wild and crazy industry. We got together for a Monthly Happy Hour at Carsons for a little Hump Day stress relief and conversation... courtesy of the Dallas Association of Mortgage Professionals Partiers! ( DFWAMP ). And good conversation it was, indeed. If you haven't met these two ladies, you should make the effort. They … (22 comments)
Your Texas Louisiana Mortgage Loan Officer,
Tom Burris, The Texas-LouisianaLoanGuy, has been arranging Home Loans since 2004.
Stress Free Mortgage Process.... Thorough pre-approvals... Hyper communication with the client and realtor partner sets the Texas-LouisianaLoanGuy apart from the rest.Your Mortgage should be fun!!!
Contact the DallasLoanGuy Today!!!
214-763-4629 cell/text/nights/weekends
The Babe Magnet that I am.... I had the great pleasure of meeting up with fellow Rainers Lorrie Semlar and Sharon Parisi last night for a little Happy Hour at the new and hip Sting Club in N. Dallas.
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