Your Trusted Guide for Mortgages & Real Estate
PRIVATE MONEY = TEMPORARY SOLUTION Both agents and buyers are reaching out to us to save transactions that have blown up elsewhere b/c both bridge loan and non-QM financing has […]
1ST/2ND COMBOS INSTEAD OF JUMBO This is a reminder that 1st/2nd combo financing remains a great alternative to jumbo. CA 2nd liens are Home Equity Lines of Credit (HELOCS) while […]
WELLS FARGO PULLS OUT OF JUMBO MARKET Wells Fargo announced yesterday that it is pulling out of the jumbo mortgage market, sending shock waves through the industry (b/c Wells is […]
I mentioned yesterday that we are still getting purchase contracts and agents are still making offers, and asking us about contingency periods in light of the COVID-19 crisis. We obviously […]
FORBEARANCE CLARITY The mortgage industry, terrified of a mass onslaught of payment forbearances, was alarmed by a misleading report by CNBC. Reporter Diana Olick said that borrowers obtaining a...
STIMULUS AND FED ALMOST CRASHED MORTGAGE/HOUSING INDUSTRY Here is a great article that partially explains what happened. Long story short: many major lenders face bankruptcy b/c servicing values are...
THE FED, RATES, & MORTGAGE COMPANIES The Fed has purchased over $250 billion of mortgage-backed securities (MBS) over the last two weeks – an unprecedented record by far. This has […]
The entire Mortgage Industry is in a state of panic right now. This is b/c so many potential borrowers could skip or miss payments, and b/c the Fed is pushing […]
3.3 million people filed for unemployment last week, shattering the previous record of 700,000 set in 1982. Normally, such news would send rates into a massive downward spiral – but […]
A seasoned agent called me yesterday to ask if her buyer could still close on a transaction even though he had just been laid off (the buyer still wanted to […]
Federal Housing Administration (FHA) loans are an excellent option for first-time homebuyers looking to buy in the competitive Texas market. FHA loans have low down-payment financing options with...
Fannie and Freddie released “Appraisal Relief” guidelines yesterday that consisted primarily of waiving interior inspection requirements. They agreed to accept “exterior inspection” and/or...
On Friday, there were three major factors pushing up mortgage rates: (1) too much business – lenders are pushing up rates to stem excess volume; (2) too little liquidity – […]
Mortgage rates are a hot topic for borrowers in Texas. Everyone wants to get the best mortgage rate possible when they’re getting ready to take out a loan for their home purchase.
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