Mortgage Industry

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LOs Can Quote ANYTHING When You’re Not In Contract; Owner-Occupancy Fraud Alert! Hot Inflation = Higher Rates

We lost a borrower during the pre-approval stage to another loan officer (LO) who quoted an “estimated” interest rate that was 1/4% lower than ours. We tried to explain to the borrower that LOs...

March 14, 2024 4 min read
LOs Can Quote ANYTHING When You're Not In Contract; Owner-Occupancy Fraud Alert! Hot Inflation = Higher Rates

Beware of False Employment Reports! Their Impact Is Only Temporary

Hot jobs reports can push rates way up, but they should not be trusted. The actual data surfaces sooner or later, and rates adjust back downward. Sometimes it takes a day or two, and sometimes,...

March 8, 2024 3 min read
Beware of False Employment Reports! Their Impact Is Only Temporary

Rocket Fired All of Their Realtor-Loan-Officers! Why?

Rocket just fired all of its newly minted real estate agent/loan officers – surprising… nobody. Before I explain this though, I want to touch on something I missed in this […]

March 1, 2024 3 min read
Rocket Fired All of Their Realtor-Loan-Officers! Why

When Will The Stock Market Crash? Billionaires Think It’ll Be Soon

"JPMorgan CEO, Jamie Dimon’s, big JPMorgan stock sale may be a warning sign, given his stellar track record at market timing.” That is a CNBC headline from this morning. This short post on X...

February 26, 2024 3 min read
When Will The Stock Market Crash Billionaires Think It'll Be Soon

Recasting or Re-Amortizing a Mortgage – Misconceptions & No Guarantees!

Now that our bridge loans are becoming so popular, we are having a lot of conversations with borrowers about recasting. Recasting = Re-amortization of Mortgage After a Lump Sum Paydown […]

February 12, 2024 3 min read
Recasting or Re-Amortizing a Mortgage - Misconceptions & No Guarantees!

Mortgages After Bankruptcies – Easy to Get! Jobs Report Nonsense Again

Mortgage rates shot through the roof this morning in response to a very strong jobs report! This is exactly what I predicted would happen in my blog yesterday, as the official BLS jobs reports always...

February 2, 2024 4 min read
Mortgages After Bankruptcies - Easy to Get! Jobs Report Nonsense Again

Fresno’s Housing Market in 2024: A Hub of Opportunities

As we navigate through 2024, Fresno's housing market stands out as a uniquely competitive yet surprisingly affordable arena in the vibrant landscape of California's real estate. But what makes Fresno...

January 31, 2024 4 min read
Fresno's Housing Market in 2024 A Hub of Opportunities

Everything You Need to Know About Getting a Second Mortgage on Your Home

Are you considering tapping into your home's equity for various financial needs or investments? Getting a second mortgage on your home might be the solution you're looking for. In this comprehensive...

January 26, 2024 9 min read
Everything You Need to Know About Getting a Second Mortgage on Your Home

Barns, Farms, Sloping Floors, Litigation and More! Financeable? It Depends

I refinanced a 12-acre estate in Sonoma County in CA years ago. The owner insisted it was 100% residential with no commercial interests – but, when I showed up, he had a huge sign over his barn...

January 26, 2024 5 min read
Barns, Farms, Sloping Floors, Litigation and More! Financeable It Depends

Best Bridge Loans In 2024; How To Buy Before You Sell

A bridge loan, as most readers know, is a short-term loan that typically taps into the equity of a borrower’s departing residence to allow that borrower to buy a new home before she sells her...

January 17, 2024 3 min read
Best Bridge Loans In 2024 (Much Better Than Those Lowly 2023 Bridge Loans); How To Buy Before You Sell

5 Fail-Safe Recession Indicators

Three pieces of news surfaced yesterday that should have pushed interest rates through the roof! 1) Inflation (CPI) came in much hotter than expected; 2)The Fed made comments about “rates needing...

January 12, 2024 3 min read
Shocking Interest Rate News Yesterday! 5 Fail-Safe Recession Indicators

What’s The Difference Between A HELOC And A Home Equity Loan?

Choosing between a HELOC and a Home Equity Loan depends on your specific financial needs and circumstances. HELOCs offer flexible access to funds with variable interest rates, making them ideal for...

January 9, 2024 7 min read
What's The Difference Between A HELOC And A Home Equity Loan

10 Reasons For Enormous Optimism In 2024!

2023 was probably the worst year in history for the mortgage industry – and we’re all happy to see it go, as the total losses were well into the billions. It was worse than 1981 even (when the...

December 29, 2023 4 min read
10 Reasons For Enormous Optimism In 2024!

Multi-Family Housing Imploding! It’s Worse Than You Think!

In 2004 and 2005, when mortgage lenders were offering 100% financing for investment properties to inexperienced investors – who did not have to verify ANY income – I and many others in the...

December 22, 2023 3 min read
Multi-Family Housing Imploding! It’s Worse Than You Think!
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