I. The New Appraisal Form (UAD 3.6) Is Nothing To Worry About. I blogged about it in August, but I am touching on it again because we have been getting questions. TLDR: The new form will...
We live in the most interesting time ever for financial markets. Today is a case in point; if you don’t find today’s blog fascinating, I will refund your money. I. Interesting Thing #1:...
In 1929, famed economist Irving Fisher proclaimed that stocks had “reached what looks like a permanently high plateau.” More interestingly, he was one of thousands who thought similarly. Not so...
I. 2nd Unpermitted Kitchens Are “Health And Safety Risks” & Not Allowed (Yank The Stove) This is a brief reminder that lenders don't allow homes with a second unpermitted kitchen, something we...
Just when you think rates can’t go any higher… they go higher. Many prominent analysts think they can go much higher too – all the way to 9% in some cases. Chris Whalen is one, as he...
I. Rates Never Move In a Straight Line! (Why This Is So Important!) Rates have trended steadily upward since 2022 – and they are now back to levels we have not seen since 2023 (briefly) or the...
Woohoo! Rates fell today from 7.5% yesterday to 7.49% today! Refi boom? Probably not… but at least rates didn't go up today. A. Higher Asset Values + More Flexible Lending = More Ways to...
Over the last few weeks, we have had at least a half dozen borrowers come to us for the first time after they were in contract to buy a home – and armed with another lender’s...
I. DSCR Loans Do Not Need to Cash Flow Debt Service Coverage Ratio (DSCR) loans that qualify buyers using only rental income (no other income documents needed) do not need to show positive cash...
If a mortgage banker had a time machine, would he: 1. Tell Franz Ferdinand to duck and prevent WWI? 2. Tell the Russians that that Lenin guy is not nearly as nice as he pretends to be? 3....
Today was the worst-case scenario for interest rates. But – at least there are some very interesting takeaways. 1. Iran’s Most Powerful Remaining Weapon Is Working. Iran’s military...
I. Builder Offers 2.99% - Don’t Walk, RUN! Below-market interest rates cost money – always. And WAY-below-market interest rates cost a lot of money – always. So, when a builder offers...
I. Client offered $500,000 over list and came in 9th out of 10 offers. Here is concrete proof that real estate is local (and sometimes out of control). Our borrowers made an offer in Berkeley, CA,...
I. Readers Told Me How Wrong I Was On Monday At my first job at an investment bank, I worked for two former state-level bureaucrats who were extraordinarily talented at every level and far more...
CONTACT
Guaranteed 60-minute responses during operating hours
Resume from where you left off. No obligations.
