In the early months after COVID hit in 2020, I wrote numerous blogs about the strong likelihood of the economy and the housing market bouncing back. My reasoning was based on strong demographic...
“As if things couldn’t get more ridiculous at the online mortgage lender Better Mortgage, where 900 people were laid off over a Zoom call this past December, the company reportedly […]
We recently had a borrower liquidate funds after a flurry of trades – resulting in demands for YEARS of bank statements by the underwriter (because she’s required to “source” every dollar...
Interest rates were trending upward before news surfaced that NATO believes Russia is still likely to invade Ukraine (because so many Russian troops are amassed at the border). When the news...
After the 2008 meltdown, a borrower told me how sad she and her husband were because they lost $250,000. They bought their home in the 1990s for $300,000 and watched it appreciate to $1 million by...
I have blogged about the three channels for mortgage banking several times. The channels include (1) banks and credit unions that offer mortgages along with checking, savings and commercial lending;...
Interest rates shot up again yesterday, as the Fed indicated that it may increase the Fed Funds rate faster (as much as 1% this year) than previously anticipated. The Fed also implied that it would...
Conventional loans are a favorite for homebuyers with decent credit scores and who have a fair amount of funds for a down payment. Conventional mortgages should not be confused with “Conforming...
This is a surprisingly common occurrence: A buyer comes to us with a ridiculously low rate quote from another lender and insists that we match it. We then ask to see the Loan Estimate (LE) that sets...
A pre-approval is a way to be a step ahead when it comes to house hunting and a requirement for all homebuyers who plan to use a mortgage loan.
A jumbo loan in California is a loan amount that exceeds the conforming county loan limits set by the Federal Housing Finance Agency (FHFA). A jumbo loan is a conventional (not government-insured)...
China has somewhere between 55 to 65 million unoccupied properties, depending on the source, and an additional 93 million units under construction. Famous financier, Hugh Hendry, was on this Rebel...
Jumbo loans are mostly used by those purchasing higher-end or “luxury” properties. By design, conforming loan limits are usually set higher than the median home price within a particular...
Purchase mortgages and refinances are both home loans, but they serve very different purposes. A purchase mortgage is a type of loan that homebuyers apply to finance the purchase of a new home. A...
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