connecticut fha mortgages: Things Get Done When We All Cooperate. - 07/20/09 12:27 PM
Three weeks ago I got a call from the local William Raveis Real Estate in house Loan Officer.  She had a loan that met FHA Guidelines, but she could not get an approval on it, because their investor did not like the limited number of credit lines that the Borrower had.  I wanted to make sure that I would not have the same problem so I went over to my Underwriter and ran the scenario by her.  She told me that we would not have a problem with that and to bring the loan in.  I called the other Loan Officer … (8 comments)

connecticut fha mortgages: New Truth In Lending Guideline Changes Will Have A Major Impact On Closings #2 - 07/18/09 09:33 AM
Yesterday I wrote the first of two blogs introducing the New Truth In Lending (TIL) Guideline changes.  In this second blog I will go into more detail as to why I feel that these changes will create significant delays in the Loan Closing Process.
First let me recap the four major changes that will go into affect at the end of the month:
As of July 31 ALL Loan transactions will require that the initial Truth In Lending (TIL) statement be issued within 3 days of the Loan Application, and no Loan Transaction will be allowed to Close before the 7th … (12 comments)

connecticut fha mortgages: Food For Thought #1 - 07/13/09 07:12 AM
I have been in Sales for over 34 years, and there are two things that are closely related, and seem to be a constant regardless of what type of Sales Field you are in.  I will cover the first one in this blog and the other hopefully tomorrow.
The first one is, and this never stops amazing me, is that Sales People are always looking for new ways to do things, or that will generate more business.  Now before you say what is wrong with that, there is nothing wrong with that, but what amazes me is that when they find … (18 comments)

connecticut fha mortgages: What Kind of First Impression Do You Present? - 07/11/09 04:11 AM
During my time here on ActiveRain I have read several blogs about how important it is for a Seller to prepare their house before they put it on the market for sale. These blogs have provided excellent advice, and suggestions on how to make a house attractive to prospective buyers. One of the common themes in each of these blogs has been how extremely important it is for a house to make the best possible first impression that it can.
All these blogs show how important it is to prepare a house for sale, but how much thought do we Loan … (12 comments)

connecticut fha mortgages: Are Things Always As They Seem?????? - 07/10/09 09:24 AM
In case you have not seen this yet, the picture below which Yahoo had as one of its highlights on my Yahoo Home Page today, has created more than a little bit of a stir.  Some times things are not quite what they seem or are they.

Below is a link to a video that ABC News broadcast from a GMA News clip, that gives a little more detail of why the President was looking in that direction, or on the other hand does it really clear up anything ......... LOL
Link to Obama Video.
I sure am glad the … (21 comments)

connecticut fha mortgages: Almost Wordless Wednesday. - 07/08/09 03:20 PM
The month of June here in Connecticut was probably the wettest month that I can ever remember, and July is starting out the same.  I have been posting pictures of flowers during this time that have really benefited by all this rain, and it has been very evident in their beautiful bright colors.  But I think that even the flowers are ready to waive a white flag and give up because of the continuous rain.  The flower below is a good example of this, it looks like it is saying I give up and surrender.  A little sunshine please :) :)

connecticut fha mortgages: Glad I Got This Warning In Time!!! - 07/06/09 12:12 PM
My wife just e-mailed me this very important SCAM ALERT, and I thought that I better share it with the rest of you here on ActiveRain.  As you all know we have a BIG problem with ticks here in New England, and here in Connecticut we have even our own "tick" named after one of our towns, the "Lyme Tick", which is responsible for, you guessed it "Lyme Disease
I sure hope that I am not to late in getting the word out to all of you on this.
I hate it when people forward bogus warnings, and I have even … (23 comments)

connecticut fha mortgages: Connecticut Middlesex County Chamber of Commerce Business After Hours .... Angelico's Lake House - 07/04/09 09:33 AM
The Connecticut Middlesex Chamber of Commerce is continuing its Business After Hours events through the summer, and what better place to hold the July Business After Hours, than at Angelico's Lake House overlooking Lake Pocotopaug in East Hampton.
This event will be held on the 13th from 5:00-7:00 p.m.  If you have never been to Angellico's Lake House you are in for a special treat.  The food is excellent and the atmosphere on their patio overlooking Lake Pocotopaug is prefect for enjoying an evening with friends, co-workers, and business partners, as well as taking this opportunity to do some networking.
OH … (5 comments)

connecticut fha mortgages: So what do you think the interest rates are going to do? - 07/02/09 12:42 PM
If I had to pick the question that I am asked most, it would be an easy choice "what do you think the rates are going to do?"  I get asked this question almost every time I do a loan at the point when the Borrower has to make the decision whether to lock the rate or float it.
My answer to this question is simple "if I new what the rates were going to do, I would be on a very warm sunny beach, without a care in the world".  If I could predict whether the rates were going to … (21 comments)

connecticut fha mortgages: Another Happy Ending. - 06/30/09 02:04 PM
Yesterday I wrote a blog about a loan that was really tough to get to the Closing Table.  Well today I had one that was the opposite.  It was a loan that Andrea Swiedler referred the Buyers to me.
Both Andrea and the Buyers were a real pleasure to work with, everything I asked for was provide immediately.  Andrea is a true Pro and really, really knows her stuff.  The Buyers had lots of questions, but all of them were very well thought out, and a couple of times helped to direct me to the answers.
This deal went as smooth … (9 comments)

connecticut fha mortgages: I Am Ready For A Little Sunshine ....... But I Would Settle Right Now For My Fried Whole Belly Clams :) - 06/26/09 01:19 PM
Connecticut has been getting rain just about everyday for several days now.  It hasn't been anything major, but just a lot of steady rain, that is up until today. 
The day started out very warm and humid, with the sun making an effort to show itself, which I was glad for because I was having a new roof put on my house and was hoping that they could complete it today (they started yesterday).  I got my wish the weather cooperated up until noon, which was just enough time for the Roofers to finish, and even clean up.  But no sooner … (5 comments)

connecticut fha mortgages: FHA The Main Loan Program In Connecticut!!! - 06/23/09 03:20 PM
While the title says that FHA is the main loan program in Connecticut, the truth is that FHA is probably the main Loan Program in many other states as well.  With all of the changes that have happened in the last year to Fannie Mae, Freddie Mac, PMI Companies, and changes in Appraisal Guidelines, have made FHA is a very attractive Loan Product right now.
In the past year we have seen Freddie Mac and Fannie Mae incorporate several point adjustments into the pricing of loans that are backed by them.  There are hits for points if the FICO Score is … (9 comments)

connecticut fha mortgages: Whose Decision Is It!!! - 06/22/09 02:38 PM
One of the great faults that many people in sales have is thinking that they know better than their clients.  They feel that their knowledge of the product that they are selling somehow entitles them to the freedom of making decisions for those who are the ones who are spending the money.  Having this feeling or attitude creates many unnecessary problems.  Having this feeling or attitude leads the sales person to somehow think that they have the right to decide what their clients should purchase, and how much they should purchase.  After all they are the experts on the product and … (24 comments)

George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages)

George Souto

Your Connecticut Mortgage Expert

Middletown, CT

More about me…

George Souto NMLS #65149 FHA, CHFA, VA Mortgages

Address: One Liberty Sq., PO Box 1000, New Britain, Ct, 06050

Office: (860) 573-1308

Mobile: (860) 573-1308

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