Jeff's Blog

Mortgage and Lending - Southwest Funding
Discover what others have, no one works harder to get you your dream house. Our experienced staff is here to work with you to develop your loan application quickly, accurately, and honestly to make the strongest case for you. Then we shop our network of wholesale lenders to find the loan program that fits you best. We pride ourselves in helping you get your questions answered with prompt, courteous service. We never forget that it is personalized one on one service that sets us apart from the rest.
Fannie Mae is increasing their costs to lenders so more than likely lock extensions will increase in price. It is very, very important to make sure you get ALL of your documentation to your loan officer before you ask them to lock your loan!  It is very important to plan accordingly in getting yo...
We Now offer 100% VA mortgage refinances. This applies to both a conventional to VA or an FHA to VA refinance. We still (and have always) offered a 100% VA streamline product AND THE VALUE IS ONLY BASED UPON AN APPRAISAL DRIVE-BY, NO NEED FOR A FULL BLOWN APPRAISAL!!!   http://www.texaslowcostmor...
Tip of the Day: Why are FDIC insured banks so much more expensive than Southwest Funding? 1. They have to pay for FDIC insurance. 2. They have to pay for all of the support staff (tellers,csrs, operations staff, etc.) 3. They have to pay for the massive amounts of advertising they do on televisio...
Agency Properties Owned Free & Clear (no existing liens, always considered cash out) If the property was purchased 6-12 months prior to application, the LTV/CLTV must be based on the lesser of the purchase price plus documented improvements or appraised value. This requirement is applicable for ...
Tip of the Day   -Over the weekend, Fannie Mae updated the DU credit risk assessment for VA loans. Per the agency announcement, improved credit characteristics will be required to receive a DU Approval. This will likely result in a reduced number of VA loans receiving an Approved recommendation. ...
Tip of the Day   For 2012 the following areas are have higher than normal FHA loan limits: San Antonio and the surrounding areas can go all the way up to $332,500 for a single family residence. Austin and the surrounding areas can go to $288,750 for a single family residence. Houston, Dallas, and...
Next week is moderately busy with a handful of economic reports scheduled for release. None of them are due Monday, so expect the same of today's activity (bonds and rates driven by stock trading). The first data comes Tuesday morning, but it is arguably the least important report of the week. Th...
Are you expecting a tax refund this year? If so, you probably already have plans for how you're going to spend it - new clothes, a weekend trip, that big screen tv you've been waiting to buy. This year, instead of going on a shopping spree, why not put that money to work for you? One financially-...
Technology has made it possible for employers to monitor many aspects of their employees' jobs, especially on telephones, computer terminals, through electronic and voice mail, and when employees are using the Internet. Many employers take advantage of this technology and do monitor their employe...
December 3 rates were .625% higher than they were October 8, which means a borrower pays $73.45 more per month on a $200,000 loan. Here's why... 1)      The Feds purchased Mortgage Backed Securities (MPS) during QE1.  Now the Feds are mostly purchasing Treasuries.  The massive purchasing of MPS c...

Jeff Schraeder

Ask me a question

Additional Information