raman kandola's (kandolamortgage) Blog

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Mortgage and Lending - kandola mortgage services
RECENT BLOG POSTS
 What are the differences between being a mortgage banker versus a mortgage broker? As a banker, you can control your own underwriting and closing process, create your own product set and guidelines, sell directly to Wall Street or conduits, set your own rates and manage your own rate lock polici...
06/08/2007
New Century Financial, the largest U.S. subprime lender in bankruptcy, said on Thursday it probably inflated 2005 earnings because of accounting errors, a disclosure that might add fuel to federal criminal and regulatory examinations into the company.The errors concerned losses on repurchased loa...
05/24/2007
 Ahead of the weekend, April's New Home Sales data will be released later this morning. This report, along with Friday's Existing Home Sales data, gives us a measurement of housing sector strength and future mortgage credit demand. The bond market will close early tomorrow afternoon ahead of the ...
05/24/2007
 The answer is 5 companies: Wells Fargo ($1.38 trillion), Countrywide ($1.35 trillion), Citi ($.8 trillion), Chase ($.7 trillion), and WAMU ($.6 trillion). According to Mortgage Finance, there is now roughly $10 trillion of servicing outstanding and these five account for almost $5 trillion. Ther...
05/15/2007
Today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.15 percent with an average 0.5 point for the week ending May 10, 2007, down slightly from last week when it averaged 6.16 percent. Last year at this time, the 30-year ...
05/15/2007
 Soon after Thanksgiving every year FNMA and FHLMC announce their conforming loan limits for the following year. Usually it goes up, due to the price of home increasing. This year, however, the National Association of Realtors believes that US home price declines this year are going to be steeper...
05/09/2007
     Here are terms of a HARD MONEY LOAN.Interest rates vary between 8.50%* and 15.00%*, depending on the investor, borrower qualifications, loan amount and purpose, property type, location, lien position, term, prepay period (if any) and any applicable state law;  Terms vary between 6 months and...
05/05/2007
     HARD MONEY is really good if used wisely !Purchase real estate - with a sufficient down payment (25% or more), you can secure a new 1st mortgage with a hard money loan. Refinance a loan - hard money loans to obtain cash from equity, pay off a balloon mortgage, refinance a delinquent loan to ...
05/05/2007
Hard Money loans is an effective way of getting fast money with almost no documentation. Hard money loans are collateral-based real estate loans made by private investors instead of banks. These loans fill a need for funding when banks won't lend for any reason, there are credit problems, or ther...
05/05/2007
 DLJ Mortgage Capital, a unit of Credit Suisse, is suing the two mortgage companies due to failure to repurchase loans. In two of its claims, DLJ Mortgage Capital is seeking to force Sunset Direct Lending and Infinity HomeMortgages to buy back mortgage loans that ran into payment problems soon af...
05/03/2007
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