Ed Brophy's Mortgage Update

Few things are as devastating as losing your home. Sadly, it's not always inevitable. In many cases the foreclosure could've been avoided with some outside help.You are in a unique position to advise your clients in financial matters. If you know that a client is on the path toward foreclosure, t...

If you have clients in need of credit remediation, and especially if you live in an area where this is an overall problem within the population, you should seek to align yourself with a credible referral source for credit repair. While government web sites will suggest that self-help may be the b...

 I have been a member of Active Rain for 7 days now; in these 7 days I receive 1-2 e-mails a day from commercial lenders, hard money guys and a host of other idiots trying to get me to use/buy their product or service.  Some of these folks are AR members with very, I mean very basic p...

For those that don't visit my web-site here is a repost from from the site.Friday's bond market has opened in negative territory again after this morning's economic news showed stronger than expected results. The stock markets are mixed with the Dow down 9 points and the Nasdaq up 2 points. The b...

Typically, a person with a bad credit score is in this position because they lack structure in their life. There are, of course, cases where unplanned health or employment complications are to blame, but for the most part, these are individuals who lack the discipline to pay their bills on time o...

Baltimore Sun article written by Ken Harney:Originally published September 8, 2006Picture this: You apply for a new home loan from a local mortgage company on a Monday afternoon. By Tuesday morning, you're suddenly getting unsolicited phone pitches from out-of-state lenders who seem to know a lot...

There are five factors that comprise the credit score. They are listed below in order of importance, just as an underwriter would look at the score:Payment History: 35% impact. Paying debt on time and in full has apositive impact. Late payments, judgments and charge-offs have a negative impact. M...

I've been running a radio ad in the Los Angeles area the past couple of days, tremendous response and majority of the prospects are extremely credit worthy. Here's a problem I ran into last night while taking a call a 9pm, how would you have advised the client?Mr. Prospect calls about the 40 year...

In the 1960s, Fair Isaac Corporation started working on a system lenders could use to evaluate the likelihood of receiving repayment on loans. Prior to that, it was really a matter of trusting an individual to be a "man of his word," so to speak. Fair Isaac sought to take human error out of the e...

Understanding What Causes Interest Rate MovementConsumers are often misled when it comes to the subject of the Federal Reserve and how it affects mortgage interest rates. Often the media is the culprit causing the confusion. In the last few years, the Fed has taken action that caused mortgage int...