Jim Kochakian's (jkochakian) Blog

Increased concerns about Europe caused a flight to safety this week, which helped mortgage rates improve. The Fed statement, which contained no major surprises, and the economic data released during the week had little impact on mortgage rates. As a result, mortgage rates ended the week lower. Th...

As a result of new regulations, licensing and testing, approximately 11,000 mortgage loan officers in Massachusetts have exited the mortgage loan business.  Today there are less than 4,000 loan officers in the Commonwealth. The good news:  Those that remain in the business are the mortgage profes...

  Appendix: Flood Zone Requirements New & Proposed Construction Existing Construction Manufactured Homes Condos All Other Properties Life-of-Loan Flood Zone Determination Required Required Required Required Required Property located within Coastal Barrier Resource System (Protected Areas) Propert...

Inflation concerns hit bond markets this week. Despite soothing comments from Fed Chief Bernanke, stronger than expected economic growth and higher commodity prices raised investor fears that future inflation may increase. As a result, mortgage rates moved higher during the week. Global economic ...

FHA EXTENDS 'ANTI-FLIPPING WAIVER' TO HELP STABLIZE HOUSING MARKET: Measure continues effort to boost home values and accelerate resale of vacant properties: Please keep in mind the following: •1.)    The seller must be the owner of record as evidenced by a recorded deed. •2.)    Must be an arms-...

New England - Midrange 2009-10 National Averages Job CostResale ValueCost RecoupedProjectJob CostResale ValueCost RecoupedChange vs. 2008-09 $52,668 $44,014 83.6% Attic Bedroom $49,346 $40,992 83.1% $14,727 $7,025 47.7% Backup Power Generator $14,304 $8,428 58.9% $65,715 $42,042 64.0% Basement R...

As some of you may be aware, as of April 1st 2011, LoanOfficer compensation will be regulated by the Federal Government. Thanks to Barney Frank and Chris Dodd (part of the Dodd Frank Wall Street Reform Act), Loan Officers will no longer be paid based upon the interest rate and terms of the loan. ...

   After reaching the lowest levels in decades, mortgage rates have shot higher over the past two weeks. There is not a simple explanation for why this happened, but looking at the many factors which are influencing mortgage rates right now will help to understand what's going on. In short, when ...

The last time I posted was at the end of November when at that time mortgage rates had just dropped significantly. The rates continued to drop and bottomed out right before Christmas. Then they started to increase slowly and now have gone up from the low point in December by over .5 point. Many p...

I have been in the mortgage business for 20 years through many refinance booms. Whenever the Fed lowers rates at their monthly meeting this makes headlines all over the news media outlets. The phone rings off the hook at many mortgage company or bank offices with inquires of how much the mortgage...