Garrick Werdmuller's Blog

In October, the F.H.A. set a minimum FICO score of 500 for borrowers who want an F.H.A.-insured loan - the first time a minimum was set. It also introduced a new minimum down payment of 10 percent for borrowers with FICO scores below 580. (Those above 580 still pay a minimum 3.5 percent.) In addi...

I was asked to do the inspirational speech for the Alameda Association of Realtor Installation luncheon. I made this for the event instead. It was a huge success and I went on to win Affiliate of the Year! I hope you enjoy and share with others!

 Hud sent this message out Monday,  "Notice on Foreclosure Moratorium Activity: This is a summation of the information conveyed in the two industry calls of December 1 and 2, 2010.  These calls served as  communication to industry partners of HUD's requirements regarding interest curtailment due ...

I want to wish you and your loved ones a Safe and Happy Thanksgiving. I hope you like this message I made for you! If you do Please SHARE by forwarding to a friend! Happy Thanksgiving!

For the third year in a row agency loan limits remain unchanged. The maximum figures  will apply to all mortgage loans originated before September 30, 2011 and are determined by rules established by the Housing and Economic Recovery Act of 2008 (HERA) and the Economic Stimulus Act of 2008 (ESA). ...

As a loan originator, I am constantly telling buyers and real estate agents that there is more to an FHA transaction than a conventional transaction and the lenders will look at the details of the file much closer.  What does this mean exactly? Well the application is longer and has a separate se...

This is the video we made for Mortgage Revolution New York, where Jonas and I presented a video marketing training for Loan Officers from all over the country. The crowd loved us and we made a lot of friends so I think we pretty much knocked it out of the park! If you need to implement video int...

Out of the frying pan and... Bank of America just became the first bank to suspend foreclosure sales across all 50 states.  This follows news that JP Morgan Chase and GMAC would self impose eviction moratoriums and REO sales in 23 states. The next step is a nationwide freeze on foreclosure sales ...

. Fannie Mae is trying to tighten up its initiative to facilitate the sale of REOs to owner-occupants with FIRST LOOK®. For the first 15 days the home is marketed, only offers from owner occupants are considerered or accepted. After those 15 days, if no offer has been accepted, the field is open ...