Art's Mortgage Solutions Blog

Mortgage and Lending - Mortgage Solutions Financial
This is the place to learn about mortgage finance and how it is impacted by the political, social, and economic climate of the country.
Recently HUD announced elimination of the 1% origination cap on FHA loans.  The change was made with the spirit of the new GFE that combines origination and other lender fees into one section.  This will allow lenders to present "origination charge", a bundled fee of origination fee and lender fe...
You know how the Fed has been buying up so many Fannie, Freddie and Ginnie Mae MBS?  Last year the Fed made up something like 75% of all such purchases.  It will be interesting to see what happens as they stop buying.  The conventional wisdom is that it will cause rates to go up, but the conventi...
How many companies out there won't be able to do FHA loans if HUD moves toward a minimum $2.5 million net worth to do FHA loans? Some estimates peg the loss at 70% of all current lenders! HUD estimates that about 40% of all currently approved lenders have less than $1.0 million net worth. Maybe t...
I sincerly wish all of you a very merry Christmas and the best for 2010
For those of you in Portlan, Oregon, following are the FHA limits for 2010.  Let me know if you need any additional information  
The Section 203(k) program is the FHA's primary program for the rehabilitation and repair of single family properties. As such, it is an important tool for community and neighborhood revitalization and for expanding home-ownership opportunities. Since these are the primary goals of HUD, the Depar...
It does not look like we have quite turned the corner on the mortgage meltdown.  Today another one bites the dust.  On the heels of its parent company's bankruptcy, Amtrust Bank became the 130th bank to fail in 2009 when the FDIC took it into receivership on 12/04/09 at an estimated cost of $2 bi...
This will all be over on Thursday and we can get back to work.  While we wait I want to offer up some worthless Oregon State and Oregon Trivia Oregon State                                                                                    Oregon $230,623                                 Football R...
As most of you know, I am a huge Beaver for my fellow Beavers, here you go!
My wife and I have been married for 22 years, we were together for 2 years before that.  In those 24 Thanksgivings plus a few Christmas's and Easters we have had a lot of turkey!  A LOT OF TURKEY.  While my wife does the majority of the cooking at home; she has never cooked a holiday turkey.  Tha...

Art Marine

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