Mortgage tips to avoid are everywhere. I am sure you have family or friends ready to give you their two cents even if you never ask for it. But how do you know what is true and valuable? It depends on where you get these mortgage tips. If they are coming from anyone other than [...]

Mortgage originators tell you your mortgage lock is in force when it is NOT. Lying about your mortgage lock status is a common practice to increase loan revenue or cover loan officer mistakes. Loan officers are always trying to make the most yield spread revenue on every mortgage. Telling you the mortgage lock is placed [...]

I am afraid it is not that simple. Finding an “honest” mortgage broker is part knowing how to interview them and part “keeping them honest” by demonstrating your knowledge. In other words, the brokers (even the good ones) are willing to over-charge, if the client shows no real knowledge of how loans are priced, locked, [...]

I’ve compiled a few resources on average mortgage rate data and yield spread premium starting with Congressional testimony from experts and ending with average mortgage rate resources online. Be sure to read the Harvard Professor Jackson’s testimony if nothing else…. Harvard Professor’s Conclusions on YSP Mr. Olson’s Senate Testimony More Average Mortgage Rate Survey Links [...]

Mortgage yield spread premium is responsible for up to two thirds of the revenue earned on every mortgage. Yet most Americans have no knowledge of mortgage yield spread premium or how to avoid it. No one in the mortgage and banking industries wants you to find out about mortgage yield spread premium because it would [...]

The best mortgage is never found by collecting a handful of Good Faith Estimates or by calling around getting mortgage rate quotes. Yet this is THE shopping method for most. If you define the best mortgage as the loan having the best mortgage rate, the lowest costs, and the one that fits your financial circumstances [...]

Fannie Mae’s CEO, Daniel H. Mudd testified before the House Committee on Financial Services today and unveiled a commitment to those subprime borrowers who need new options now that their earlier mortgage decisions are proving to be disastrous. In typical “borrow from Peter to pay Paul” fashion, this new initiative involves refinancing out of the [...]

Presidential candidate Hillary Clinton unveiled her “mortgage reforms” on the campaign trail yesterday. You won’t be surprised to hear they are more pandering than problem solving. Her rhetoric was emotionally charged placing the blame specifically and solely at the doorstep of the mortgage brokers. No mention was made of Wall Street mortgage investors, wholesale lenders, [...]

I was recently on the dumb little man blog which gives good money saving tips. I came across a post on 10 questions to ask an agent before listing your home with them. I have no great bone to pick with the 10 items (they were all sound interview questions), but I do with what [...]