Discuss what's new in the real estate and mortgage industry
ARCHIVED BLOG POSTS
Now that USDA is out of funds for their Guaranteed Program, what effect has this caused for Realtors and clients? Are your loans still getting closed? I'd like to hear how this has effected our community.
What is the future of mortgage companies? With Chase taking over Washington Mutual and putting an end to mortgage broker relationship by doing their own retail mortgages. Will Wells Fargo do the same with their takeover of Wachovia? As the big banks/investors take over other banks and expand thei...
In today's market, a buyer has to be careful who they pick as their loan officer. It's my opinion that today's current market is uncharted waters. No person has experienced what we are today. So, self-described experts are typically far from experts. They may be extremely knowledgable but not exp...
New changes are abound in the mortgage market. Fannie Mae and Freddie Mac have mandated that any loan that is to be sold to them must have appraisals ordered by the Lender, not by a mortgage broker or realtor. This is to cut down on appraisal fraud and influence. It is important that you kow what...
There are many good reasons to buy a bank owned foreclosure as opposed to a "short sale". Buying a bank owned property is a faster process from purchase offer to closing. However, there seems to be one pitfall. The bank who owns the property are utilizing title companies who may not be from the l...