East Bay Mortgage News

Perhaps the number one thing we all chase is time...we need more of it right? Well time is time: we can't have more than 24 hours a day. And really we can't manage time itself. However, we can manage what we do with the time we have. Efficiency is the key and finding ways to be more efficient wit...

A recent report issued by Freddie Mac revealed that "Cash Out" refinances (an increase in the mortgage balance by at least 5%) fell to a record low 27% during the fourth quarter down from 88% in 2006.  There is another term that is not heard nearly as much but is becoming more popular.  This is c...

Before the Big Game today I will be replacing one of my old toilets in the Master Bath. (Fun Fun Fun!)  I saw this video yesterday and decided to share.  As 2010 began I began to look into making some changes around our home.  I have looked at our PG&E as well as our water bill over the past coup...

The recent waiver of HUD's infamous 90 Day Flipping Rule (that we previously wrote about) has brought much optimism for real estate investors and their fiduciaries. We have already had many requests for FHA financing in response to this new mandate. At Diversified Mortgage Group, we have our fing...

I hope I didn't make your head spin too much with the last post about FHA's latest twists and turns. But if you're into the "excitement" read on - there's more! Here's the "biggie" - the "E Ticket Ride" that has everyone throwing their hands in the air. Effective for cases assigned on or after Fe...

It's only February and HUD has given us quite a bit to digest regarding FHA financing already! Who needs Disneyland with FHA's own roller coaster of changes? Here's a quick roundup of recent changes as well as links to the corresponding Mortgagee Letters: On December 16th of last year HUD release...

Our office has recently had some problems getting FHA Case Numbers transferred to us in a timely manner.  This is usually not a problem, and most of the time goes very smoothly, but when it does not...it can be a pain for all parties involved:  Buyers, Realtors and Mortgage Professionals.  We jus...

Did you know that a monetary gift can be used for your home purchase down payment? Many conventional loan programs allow gifts to be used toward down payment only after you have put a certain amount of your own money into the transaction. However, the FHA loan program allows the entire down payme...

I have been hearing for the last couple of years that the days of the McMansion are limited.  Is this a response to the overall economy or a long term trend?  After doing the Broker Tours over the past couple of weeks we have seen everything from a 700 square foot tear down to an 11,000+ square f...

We recently wrote about the Fannie Mae HomePath program.  Yesterday Fannie announced some additional incentives to an already excellent program. "Fannie Mae is offering a 3.5% incentive for buyers who purchase and close on a Fannie Mae-owned home between January 28 and April 30, 2010. Buyers purc...