Mortgage Facts: What Time is It?

Mortgage and Lending with NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 IL Lic 031.0006220/WI


Mortgage Facts:  What Time is It?


     The other day, I wrote a post regarding the upcoming Mortgage changes going in to effect January 10th, 2014.  Many of the comments I received in response to the post reflected just how quickly and often changes are (in perception and in fact) occurring within the mortgage and real estate industry.  

     These responses were definitely spot on too.  Just think about the last few weeks and what has occurred in the news and in financing in particular.  How that has played on Interest Rates, Wall Street, gas prices, the availability of mortgage programs, and mortgages themselves.  A writer or blogger could literally have written an informative post and had the info contained within it totally wrong or invalid minutes later.

     Once written, a post or article containing information is "out there" in cyberspace forever.  Knowing that, more and more often I am beginning to qualify when my Mortgage posts are written.  I am also including disclaimers such as, "as of this writing" within many of my posts.

     Obviously I'm factual within my posts, but the info contained within them represent the facts (and my opinion based on those facts) as I know them at the time of my writing the postIf events occur to change specifics after my post's writing ... with the inclusion of some time frame within the post, there's something for readers to reference to in that regards.  Hopefully that proves helpful.

     So often within my work as a Mortgage Lender, I encounter a client that refers to "having seen" information on the internet.  Many times they are correct.  The info WAS correct at some point in the past, but it is no longer valid or applies at the time we are speaking.  

    By including and qualifying the date/timing of the writing of my posts, I'm acknowledging the speed in which our industry is changing.  (I'm also protecting the perception a client has of my level of knowledge and expertise.) But most importantly, I'm also providing myself a reference point from which to start when educating my client regarding that Mortgage scenario.  

     Mortgage Facts:  What Time is It?  With so many changes happening so quickly and frequently within our Mortgage industry, the importance of WHEN information is offered or WHEN an article/post is written is rapidly increasing.  Whether reading or writing an article/post with facts and direction within it, it makes sense to make note of that ...

     *  When in need of Mortgage info or service when buying a home in a Lincoln-Way Community, Will County, or elsewhere in Chicagoland, contact me I'll be happy to put my 36 years of mortgage experience and expertise hard to work on your behalf.
     I can be easily reached at:

Direct:  815.524.2280    Cell/Text:  708.921.6331    eFax:  815.524.2281

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Gene Mundt

 Mortgage Originator  -  NMLS #216987    

                                 IL Lic. #031.0006220  -  WI License #216987                                                                                                    

NMLS #175656


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Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Ralph:  The age or timeliness of the info is increasingly important.  But sometimes providing it can be challenging ..

Janis:  Bingo!  Perfectly stated ...

Nancy:  Good one!  And whiplash ... that's a good way of putting it ..

Anna:  I'm sure it was an interesting seminar.  And I think a simple rule of thumb would be if you're in doubt about a ruling ... check.  I've heard they will and are watching intently ... and in earnest ...

Teral:  I think you're right .. and the importance of this will only increase in the future ...

John:  Great choice of words ... whimsical!  I gave up trying to publish Interest Rates a long time ago.  Near impossible at some points ... and it only served to confuse (or anger) clients and referral partners alike.  I totally agree with you ...

Dick:  Our job responsibilities ... and the need to have a good grasp on what the other "arms" of our industry are doing ... are overlapping and growing in importance.  As that need grows, so will our need to choose and work with the best professionals as our referral partners.  RESPA is another good reason as to why ..

Suzanne:  I understand what AR is trying to recommend and promote.  But I'm not sure that is always possible, especially in educational posts.  They must be timely and contain details.  And sometimes those very things change the most quickly ...





Oct 09, 2013 11:16 AM #14
Nick T Pappas
Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Hun... - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource
Gene, great point and the first thing I thought of relating to "timing" is; as agents we regularly receive mortgage rates tied to a specific date.
Oct 09, 2013 11:23 AM #15
Harry F. D'Elia
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I do appreciate posts like this one to keep my up to date on mortgage changes.

Oct 09, 2013 12:01 PM #16
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

What a great point to bring out and it probably occurs more frequently in your line of work, than say the real estate agent, but yeah -- that was true 6 months ago . . . not no more!

Oct 09, 2013 12:16 PM #17
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Gene - you raise a great point.  Many folks who rely on the web as their sole source of information often don't realize when a post was written and they often don't insure that they are reading the most up to date infomration about a given topic.

Oct 09, 2013 12:19 PM #18
Bill Reddington
Re/max Southern Realty - Destin, FL
Destin Florida Real Estate

It all seems to change everyday. Most everthing on the web seems to be dated and your right you do need to pay attention.

Oct 09, 2013 02:25 PM #19
Kat Palmiotti
406-270-3667 (MT), 914-419-0270 (NY), Broker in NY with Grand Lux Realty and in MT with (coming soon!) - Kalispell, MT
The House Kat

That's an excellent point.  Some of the things I have written are time-sensitive, and I should make a point to be very clear as to the effective date of anything I'm sharing.  Things do change quickly.

Oct 09, 2013 10:31 PM #20
Marc McMaster
RE/MAX Centre Realty - State College, PA
Putting my clients before myself

Things change every day in this business and it gets harder and harder to keep up.  If you're not in it full time there's no way you're going to be completely up to speed.

Oct 09, 2013 10:48 PM #21
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Often I find articles from years ago that hold and many that don't...In the end, its the result I am wanting

Oct 10, 2013 12:03 AM #22
Mike Rankin
ClearPath Mortgage Solutions, Inc. NMLS #1394615 - Albany, NY
Mortgage Consultant


Your right today it may be the law of the land and tomorrow it's all changed.  We have to keep staying up to date! good reminder.

Oct 10, 2013 12:09 AM #23
Bill and MaryAnn Wagner
Wagner Real Estate Group - Ocean City, NJ
Jersey Shore and South Jersey Real Estate
Gene, Great suggestion to place a disclaimer of some sort in our blog posts relative to the issues and facts as they exist at a particular time.
Oct 10, 2013 12:10 AM #24
Matt Kombrink
RE/MAX All Pro - Saint Charles, IL
Your #1 Source For Real Estate

Excellent point here, Gene.  That's all the more reason for a consumer to contact a local Realtor or Mortgage Lender to get updated facts.

Oct 10, 2013 01:09 AM #25
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Gene, it's good to verify any facts read on the Internet. It was probably timely when written, but out dated or superseded with something new.

Oct 10, 2013 01:25 AM #26
Terri Woods
Benton, Linn and Douglas Counties - Days Creek, OR
Selling Homes and Land in Oregon

Gene - I have no idea how you mortgage lenders keep up with all the changes that seem to happen weekly. And.. how did you insert your picture in AR so that you have a little space between the picture and the words? Thanks for your post.

Oct 10, 2013 01:54 AM #27
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Gene, I'm sorry that I didn't know about your blog. I found you because of George Souto's post about yoou. Neddless to say, I am now following you.

You are right of course, mortgage information needs to be timely. There are, however some timeless truths. I think it is the responsibility of the reader to know the difference. "Time stamping" your posts shouldn't be necessary. If you want the news, you don't pick up a paper that is three months old.

Bill Roberts

Oct 10, 2013 03:34 AM #28
Glenn Freezman
Family Abstract, Inc. - Horsham, PA

Gene, Walking into some houses was like going back in time. ET and Cabbage Patch Collectibles:, the husband is wearing a leisure suit and a Gabe Kaplan afro, his wife looks like she just walked off the set of Charlie’s Angels...a dead ringer for Bosley. You feel like saying, “Excuse me, (Looking at my watch), do you have the year?”

Oct 10, 2013 04:09 AM #29
Phil Stevenson, CRMP
PS Mortgage Lending 305-791-4874 or 888-845-6630 - Miami, FL
"Mortgage Nerd" in Miami, Florida and Texas

Gene, I agree, especially with the changes to the reverse mortgage program that were recently implemented. I can think of at least a handful of articles that I've written that probably no longer apply. Your idea seems like a good one, especially since change will always be a part of life, regardless of when we blog. Thanks for sharing your insight!

Oct 10, 2013 05:25 AM #30
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Nick:  Personally, I gave up rate sheets long long ago.  They were void and out-of-date before the ink dried all too often.  Best to call and get the rate that actually pertains to the individual's financial scenario ... and the most timely ...

Thanks, Harry!

Carla:  A Lenders world is filled with those explanations ... plus askteriks and disclaimers.  Loans are so very personal nowdays ... that very few broad rules seem to apply.

Joan:  It's definitely true ... a little information can be dangerous.  Especially if it's not timely ...

I agree, Bill.  I think you make a very important point ...

Kat:  The speed of changes occurring in our industry are dizzying at times.  I think this is something we in the real estate industry need to be mindful of ...

Marc:  Full Time ... and actually Closing transactions.  Going from beginning clear through to fruition is important ...

True, Richie.  We all want and need results ...

Mike:  Amazing, isn't it?  What's the old saying?  Yesterday is gone ...

Thanks, Bill!  And I agree.  That is definitely hard to explain to clients though, isn't it?

Amen, Matt!  You receive the most detailed and timely info that way ...

Michael:  These days ... don't blink. Things might change during that time .. and the info once provided no longer valid.  Definitely true ...

Terri:  The company I work for is very helpful in providing new and updated info.  Within our company, Lenders network with each other and share info too.  And read .. read ... read ... CE too ...

Bill:  Thank you for the Follow!  Time stamping or identifying a time period in which a post is written might help someone know if they are reading a timely or most recent post.  If someone is "following" a specific blogger or periodical, it might not be necessary.  Otherwise ... maybe?

Glenn:  True!  It might make you smile, but I doubt it will make you buy ... or read ... or decide to work with a professional ...

Phil:  To some degree, I think it's just a smart thing to do ... a protection for the professional providing the info.  Seems I run into this type of issue .. and the resulting explanation, more and more often these days.  Keep writing those informative Reverse Mortgage posts too ... I'm learning!


Oct 10, 2013 10:56 AM #31
Nevin Williams
Fairway Independent Mortgage Corporation - Cary, NC
Senior Mortgage Advisor

Gene - You have a stronger work ethic than I do.  Other than the occasional market report I try to write timeless posts.  But you are right my man.  Need the time and date with all of the changes that change right after that change that just changed things.

Oct 10, 2013 01:45 PM #32
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Nevin:  I swear I must have a "teacher" gene running in my blood.  We each have our own style and interest in writing.  For me, that's a bit different from you.  But that's good!  Those looking for info and the Rain regarding Mortgage Lending get different perspectives ... and a broader education.  All good!!


Oct 12, 2013 02:13 AM #33
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