Steven Fishman's Blog

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Mortgage and Lending - NMLS# 9362 LO.012547.001
RECENT BLOG POSTS
You bet your license it is!!Occupancy fraud occurs when a borrower -- or an individual acting on the borrower's behalf -- misrepresents whether they plan to live at the property. This could be a second home buyer trying to obtain a lower owner-occupied mortgage rate, an investor trying to avoid h...
03/01/2008
Coming from a Lending point of view I usually ask what is your goal. Whether it is a purchase or a refinance. Once I establish that we are purchasing a home then we start.Are you in a lease? ( allows me to know what the time frame is)      When will it expire. Does it have a home buying clause? C...
02/29/2008
I was looking at a MLS listing and in the actual broker remarks it states" Broker Remarks: Fax offers to 216-xxx-xxxxw/EM check and POF. Addendums after acceptance. MUST have Countrywide pre-app if financing"By indicating that a Countrywide Pre is required constitutes a direct violation of steeri...
02/26/2008
I was looking at a MLS listing and in the actual broker remarks it states" Broker Remarks: Fax offers to 216-xxx-xxxxw/EM check and POF. Addendums after acceptance. MUST have Countrywide pre-app if financing"By indicating that a Countrywide Pre is required constitutes a direct violation of steeri...
02/26/2008
Coming from a Lending point of view I usually ask what is your goal. Whether it is a purchase or a refinance. Once I establish that we are purchasing a home then we start.Are you in a lease? ( allows me to know what the time frame is)      When will it expire. Does it have a home buying clause? C...
02/25/2008
See the aticle below. The program has since changed to pay all agents for any sold HUD homes regardless if who is used for financing. Now they can't call it a RESPA Violation  http://www.freep.com/apps/pbcs.dll/article?aid=/20080221/news05/802210379/1007/news
02/22/2008
What qualifies your property as FHA 203K??? As long as the home loan is at or under the FHA county loan limits it is qualified. https://entp.hud.gov/idapp/html/hicostlook.cfmHUD has defined eligible renovation as:OWNER OCCUPIED PROPERTIES ONLY  Repair/Replacement roofs, gutters, and downspoutsRep...
02/18/2008
Solve the problem NOW USING FHA 203K Streamline Helpful tips to sell more units!!You already know that 81% of the housing stock is greater than 15 years old.....           Create a vision for a buying decision!Watch for reactions to specific parts of the house.Use phrases like..."If you want to c...
02/09/2008
Helpful tips to sell more units!!You already know that 81% of the housing stock is greater than 15 years old..... NOW USING FHA 203K Streamline         Create a vision for a buying decision!Watch for reactions to specific parts of the house.Use phrases like..."If you want to change the color of t...
02/07/2008
Helpful tips to sell more units!!You already know that 81% of the housing stock is greater than 15 years old..... NOW USING FHA 203K Streamline         Create a vision for a buying decision!Watch for reactions to specific parts of the house.Use phrases like..."If you want to change the color of t...
02/04/2008
Rainer
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