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Smaller Mortgage Lenders Getting More Popular

You would think if things are difficult, expensive, etc. you would find the biggest mortgage lender out there if you were shopping for a loan right now. Bigger is better right? But that is not what’s happening. One, some of the biggest lenders out there are leaving the market. In an article in CNBC, of […]

New Rules for Servicers

The Consumer Financial Protection Bureau released its final rules for mortgage servicers today. The new rules will take effect on January 10th 2014. This gives the servicers time to put these new policies and procedures in place and probably hire more staff. If you have ever had a run-in with a servicer you know how […]

Income Level Factor in Getting Multiple Mortgage Offers

How much money you make is a key factor in whether or not you are going to shop multiple mortgage offers or just accept the first one you get. This is across several demographic categories including: age, education, race, and being a first time homebuyer. According to commentary by Fannie Mae’s Steve Deggendorf Director of […]

Real Estate Appraiser Shortgage

I hear out there in the world, and on our website, many people are waiting forever to get their loan processed and closed. And they automatically blame the mortgage company. But in some cases it could be the mortgage company or bank is waiting on the appraisal. With the meltdown and Appraisal Management Companies, many […]

Housing Bottom Here In Six Month - New Poll

Reuters came out with a new poll of economists asking them when they thought housing prices would bottom out. Their answer… Mid 2011…just six months away! Most the economists polled thought the remain drop in prices only amounted to about 3%. I think that is really good news, but I could be wrong. As Adam […]

California Renews Home Buyer Tax Credit

Governor Arnold Schwarzenegger signed into law today a renewal of the $10,000 home buyer tax credit for first time buyers of existing homes and extended the law including any buyer of newly constructed homes. The home builder lobby and the California Association of Realtors predictably hailed the move. California’s New Home Buyer Tax Credit The […]

$15000 Housing Tax Credit

Yesterday the Senate added a housing tax credit to the recovery bill that gives home buyers a 10% of purchase price tax credit up to a maximum of $15,000, ostensibly to support the housing and mortgage markets. I see this $19 Billion dollar addition to Obama’s Bill as more “quid pro quo” for the powerful […]

Economic and Housing Recovery Starts Mid 2009

I have predicted all along, that the media would not report the housing doom and gloom early enough to safe guard home owners. I was right. I now predict the media will NOT report the economic and housing recovery data as it occurs either. I am right again. Economic Recovery and Housing Recovery Already Underway […]

Fortes Financial Dies Today

Fortes Financial of Dallas, buyer of five regional wholesale divisions from National City back in July, has ceased operations today dying a quiet but foreseeable death. Fortes Financial Fails Fortes Financial, the idea a viable mortgage company could be made from the ruins of other failed mortgage companies, came from mortgage maverick, Peter J. Levasseur. […]