raman kandola's (kandolamortgage) Blog

Option One Mortgage plans to close 12 mortgage processing offices and trim 600 workers by early September, according to industry sources. The company will also exit the bulk acquisition/flow correspondent market. Of the 600 jobs that will be lost, 14% are in sales. Most of the job losses (66%) ar...

Did you know that St. Joseph is viewed by some to be the patron saint of house buyers and sellers? Some sellers bury a plastic statue of St. Joseph in their yard before selling the house. Sales of the statue have increased amid a decline in the housing market, and the statue can be found in relig...

Who were the big originators in the first quarter of 2007? Countrywide did $115 billion, Wells did $68 billion, and Citi was third with $55 billion. (So yes, Countrywide did almost as much as Wells and Citi combined for January through March.) Industry-wide the first quarter of 2007 was down abou...

We all know that lenders are becoming more restrictive when issuing residential loans due to declining home prices and rising delinquencies. How much? The Federal Reserve's most recent Survey of Senior Loan Officers indicates that roughly 16% of respondents tightened credit standards in 2007-Q1, ...

PLEASE : READ THIS AS SOON AS POSSIBLE (NO JOKE) Subject: READ ASAP I checked with Norton Antivirus and they are gearing up for this virus so I believe this is real.  I checked snopes.com and this is for real. Get this sent around to your contacts ASA P...we don't need this spreading around. READ...

Class One: Single Family Homes  Generally the rule of thumb is it's a Sellers Market if more than 25% of the Inventory is in Escrow and a Buyers Market if 25% or less of the inventory is in Escrow.    Overall percentage of homes in escrow for areas 1 to 23 combined (class one only) is 20.4%. Here...

I thought this was well worth passing on.For my friends and family who live nearby and afar, this is very useful information. We learned through the Kelsey Case, ALWAYS have your cell phone turned on (even if on vibrate mode) and with you! The police were able to find her body b/c of pings from c...

 What percent of your income goes to housing expense? A record 37.3 million households, or one in three, were paying 30% of their income toward housing in 2005, according to The State of the Nation's Housing 2007. The study said the number of households with that cost burden had risen roughly 20%...

 According to the National Association of Home Builders (remember the source!), mortgage lenders have tightened credit guidelines so much they're squeezing about 500,000 first-time buyers out of the market. A decline of that magnitude would reduce sales of new homes by 4% and sales of existing ho...

 As you are undoubtedly aware, the 1031 qualified intermediary business has received a great deal of press over the past few weeks, as a well known QI in San Jose filed for bankruptcy last month (on the heels of a Las Vegas-based QI folding earlier this year).  I have received numerous inquiries ...