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Attention Realtors® - Be ready, mortage loans are being denied without warning!

Reblogger Carla Muss-Jacobs, RETIRED

Industry Observer with RETIRED / State License is Inactive Inactive License Oregon

July 21, 2011 05:01 PM

Good video presentation about the changes which will come into play soon . . . relative to the "jumbo" loan amount guidelines. Something to consider if you're a borrowor, or represent a buyer who is purchasing in the higher-end.

Warning: Your loan may be denied without warning. If you are approved for a home loan or are a Realtor® with a client approved for a home loan you need to watch this video.

Also, today's mortgage rate trend report. Do you know which bank recently got fined one of the biggest fines ever handed out by the Fed for predatory lending practices? All of this in today's current mortgage rate trends report.

Watch in HD by clicking next to CC bottom right corner

Contact me for your San Diego mortgage needs. First Priority Financial -San Diego's low cost direct lender. FHA, VA, Conventional and Jumbo loans.

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View this in 1080 HD by clicking next to "CC" at bottom

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July 21, 2011

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Dr. Paula McDonald

Beam & Branch Realty - Granbury, TX

Granbury, TX 936-203-0279

Oh we all need more roadblocks to our closings. One more thing to be prepared for in this tumultuous world of real estate.

Jul 22, 2011 07:35 AM

Bryan Robertson

Los Altos, CA

The banks really need to be held liable for changing plans midstream. A pre-approval should be considered a commitment to loan as long as the borrower doesn't do anything wrong.

Jul 22, 2011 05:14 PM

Nevin Williams

Fairway Independent Mortgage Corporation - Cary, NC

Senior Mortgage Advisor

Carla - Thanks for re blogging this!

To Bryan - I understand where you are coming from. However, Fannie Mae is the one not honoring the commitment so the banks in turns can't honor them. If the banks get caught holding all of these loans it can put them out of business. This is essentially what killed so many mortgage companies when the bubble burst. Nobody would buy the loans they funded and so they had no more money to lend. Consequently they shut their doors.

Jul 23, 2011 04:52 AM

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Carla Muss-Jacobs, RETIRED

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