Mortgage Rate and Market Recap for the Week of October 20th - 27th, 2008 Big News for Bonds As we’ve talked about in the past, mortgage rates are based directly off of mortgage backed securities. These are much like stocks, being traded throughout the day. This is also why mortgage rates change throughout the day. If you’re curious what mortgage rates are going to do, it helps to be tuned into what mortgage backed securities are doing. Last week PIMCO (the worlds largest bond fund) announced that they were raising their stake in mortgage … (0 comments)
Mortgage Market and Rate Watch For Week of August 18th, 2008 What To Watch This Week? I’ve said it before, I’m going to say it’s true this week as well. Stocks will likely play a part in which direction things go this week. With oil prices on the decline, it also looks like the US dollar could be looking a little more attractive. This is also good for mortgage rates. Besides all of the day to … (0 comments)
mortgage: Rate Moving Economic Reports for the Week of April 7th
- 04/08/08 01:40 AM
**Click Here To See The Original Post on WealthWithMortgage.com!** It's important to recognize that advice is extremely valuable when seeking advice on a mortgage. The right advice can literally save you thousands of dollars, while the wrong advice can cost you the same. I'm talking on this subject because too often when we're asking the wrong questions when shopping around. I'll be the first person to tell potential clients to do their homework on potential lenders. The important thing to consider is the types of questions you should be asking when shopping around. Here are some questions to consider asking when shopping for … (0 comments)
mortgage: What Is Mortgage Management? Pt. 1
- 02/24/08 02:14 PM
**Click Here to See The Original Post on WealthWithMortgage.com** I'm often asked about what makes Four Legacies Mortgage and myself any different from our countless competitors. The truth of the matter is, I don't like the answer 'our advice is better or more timely or that we are more professional than the rest'. These things should be required to even be in consideration (even though they often aren't really there). I would say the BIG thing that makes Four Legacies Mortgage different than anyone in our market, is that we will help you actively manage your mortgage EVEN after it is closed. … (0 comments)
mortgage: Get Off The Sidelines and See What You're Missing!
- 01/17/08 03:14 AM
**Click here to see the original post on wealthwithmortgage.com** I want to put a stop to the wait and see mentality (not being reckless, but being strategic). Here's my beef - there is always a reason not to do something. The thing most of us miss is measuring the risk of the downside opposed to the upside. Specifically I'm talking about pulling the trigger on buying a home. The excuse of homes being a 'poor investment' or saying 'It's a tough market' aren't always true or as bad as you make them seem in your own mind. Quit talking yourself out of … (0 comments)
mortgage: What NOT TO DO When Getting a Mortgage
- 12/31/07 06:31 AM
If you are ever planning on getting a mortgage.. please read on! This advice may seem very obvious to you, however every one of these tips at one point has resulted in a client not being able to close on a home when applying for a mortgage. If you follow these basic steps, you'll be worry free when going through the mortgage process!Here are the list of things NOT to do when getting a mortgage:DON'T quit your job!DON'T make any unusually large deposits into your checking/savings accounts.DON'T make any changes to the purchase contract without consulting your mortgage lender.DON'T make any … (3 comments)
mortgage: The Repricing of Risk: Results with Fannie Mae and Freddie Mac
- 12/31/07 06:24 AM
The mortgage market has been a unique one as of late. I've been saying for the last year that lenders are currently re-pricing risk across the board, almost as if their looking over the ledge and backing away to stay in business. The reality is that lending guidelines became very lenient and default rates went through the roof and lenders lost a lot more money than they planned on loosing. Obviously when lenders are going out of business left and right something has to change. Recently, large mortgage purchaser Fannie Mae made an announcement of an 'Adverse Market Delivery Charge'. This is … (0 comments)
mortgage: Bush's Rate Freeze Program.. Who Really Qualifies?
- 12/31/07 06:21 AM
Our President has decided to step in and 'freeze' adjustable rate mortgages. The administration suggests their actions can help 1.2 million homeowners. Another statistic (according to the Center for Responsible Lending) says the freeze will only assist 145,000 homeowners, they say the criteria is too narrow to help more. The important part is to understand WHO qualifies for the special treatment. The BEST resource I've found is provided by the Wall Street Journal. Some very specific qualifications for the 'Rate Freeze' are: Loan must have been closed from January 1st 2005 - July 30th 2007. Must have below 660 FICO score. Must … (1 comments)
mortgage: Ameriquest Settlement Finally Trickles Down to Consumers
- 12/31/07 06:20 AM
Remember a long time ago.. May 26th 2006 if you want to be specific - a company known as Ameriquest was in some hot water with our attorney general Tom Miller? Well, the settlement that came out of that lawsuit is FINALLY providing restitution for those who were affected by the tactics that the employees were using when originating loans between 1999-2005. This settlement came from a lawsuit accusing Ameriquest employees of deceiving consumers to meet sales quotas. Ameriquest agreed to pay $295 million to consumers nationwide and has reformed its sales techniques. In Iowa, payment checks will range between $159 and $3,389. … (2 comments)
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