Thoughts and Ideas About Mortgages and Related Industries

Mortgage and Lending - Alterra Home Loans
Thoughts, ideas, tips, and updates for related industry professionals and homebuyers.
Good morning!!  I was just on the FNMA Homepath site and found that there are 2,293 homepath homes in Clark County, NV (Las Vegas area).  For transactions that close by June 30th, FNMA is offering to pay 3.5% in closing costs AND a $500 bonus to the Realtor.  That's a win-win; unfortunately there...
"Green" is a big buzzword today and it is gaining traction as an increasing number of energy companies get on the bandwagon to make solar and other alternative, renewable forms of energy more mainstream.  Manufacturers of appliances are building appliances that operate more efficiently and save e...
There are lots of problems, challenges, issues or whatever you want to call them in our industry today and they are plentiful for Realtors and loan officers alike.  Here are some solutions for a few of the problems that Realtors face and in many cases, these aren't just solutions for specific pro...
The Energy Efficient Mortgage might be the best kept secret in the mortgage industry - that's a problem since it is a fantastic way to buy new energy efficient appliances and finance them with an FHA loan.  One of the amazing things about the Energy Efficient Mortgage is that it can be used with ...
Yesterday afternoon I made a video out of the FHA 203(k) Streamline PowerPoint presentation my partner and I have and I posted it to YouTube.  It's very informative and provides some great before and after pictures of projects the contractor we work with has done.  This is great information for b...
FHA will increase the Annual mortgage insurance to 1.15% on April 18th; it is currently at .90% for most FHA loans.  Just last year FHA reduced the up-front mortgage insurance from 2.25% to 1% while increasing the annual from .55% to .90%.  The changes are due to the shortfall in reserves compare...
As a result of the credit crisis in 2007, the lending world has undergone enormous changes over the past few years as we have seen the choice of loans dwindle from a veritable plethor of options to a few basic ones - FHA, VA, conventional and some jumbo (very little jumbo).  While there are still...
For all of you Eddie Murphy fans who may remember his time on Saturday Night Live and, more specifically, his Buckwheat character impersonations, you may recall the skit where Buckwheat released an album called "Buckwheat Sings."  On that album was the classic - "Wookin' Pa Nub" aka "Lookin' For ...
I just had one of the worst days of my mortgage career when a loan for a client ended up being denied at the last minute.  This is the first time this has ever happened to me but here is the scoop for which I would like your feedback in the comments section after you get a good understanding of t...
Bernoulli's principle is the reason why airplanes fly.  In short, the air going over the top of a wing must travel faster than the air on the bottom of the wing because the distance over the top is greater because of the shape of the wing.  The faster air that is traveling over the top has less p...

Jed Wunderli

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