RECENT BLOG POSTS
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From today on know you will have a place to go to ask ALL your residential mortgage related questions. We will do our best, through our combined knowledge and experience, to bring Web 3.0 to the mortgage industry. The internet used to be a great place to get a lot of information. We will try to m...
07/12/2010
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One of my Mortgage Myth Buster colleagues that is seeing much of the same thing I'm seeing. Now more than ever the details will make or break a deal. Work with trusted lenders that know what they are doing and care about you, or pay the price! Thanks for allowing the reblog John! Gerry Suarez, J...
07/10/2010
Here is another gem from Larry Bettag regarding FNMA's recently announced changes that went into effect June 1st. Lenders have always needed to know about any changes in your credit prior to closing, but now they are actively seeking this information out. Consumers beware and don't apply or exten...
07/08/2010
Our industry is deep into another fad with mortgage marketing experts telling people what they want to hear, while real mortgage experts continue to take the high road and tell customers what they need to hear. Which would you rather work with- a "bait and switch" artist or a straight shooter? Ke...
07/08/2010
Did you know this act, H.R. 5072, as it currently reads will do the following? •· FHA loans will have a higher monthly mortgage insurance premium soon. •· The Commissioner of FHA (currently David Stevens) will be given the authority to raise monthly premiums from the current .55%...
06/10/2010
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The USDA issued a memo yesterday, May 26, 2010, reauthorizing the issuance of conditional commitments for USDA loans. What that means is that your better lenders (the ones that usually close USDA loans while funds are waiting to be allocated) will immediately be able to continue closing loans. Th...
05/27/2010
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This is too good to NOT share! The truth is we can all see our current government moving in this direction! Thanks Donne for the breaking news! Gerry Suarez, Jr. Your FHA Loan Pro! Due to the current financial situation caused by the slowdown in the economy, Congress has decided to implement a sy...
05/14/2010
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Although my good friend and colleague Larry was a little off on his title to this (no, the USDA hadn't gotten more funding yet) it is HUGELY important to note that today the USDA RESCINDED this memo. That means the USDA will not be issuing conditional commitments once money has run out, which ma...
05/12/2010
Back in January I wrote a post that rattled a few people regarding the Homebuyer Tax Credit and short sales. Specifically it related to the upcoming deadline for being in a binding contract- April 30th- and still qualify for the Tax Credit (of course you still have to close by the end of June a...
04/16/2010
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Two bills are actually running thru Congress pertaining to funding the USDA Rural Development loan program. That certainly makes the future look brighter in terms of funding gaps. Thanks to Greg for allowing the re-blog! Gerry Suarez, Jr. Your FHA Loan Pro! With everyone watching the countdown ...
04/16/2010