Mike Wald's (mwald) Blog

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Mortgage and Lending - Mike Wald, Scottsdale, AZ, mortgage consultant, 480-241-2632
RECENT BLOG POSTS
July 30, 2009: The day the new Truth in Lending Act disclosure requirements went into effect. If there is a change in the Annual Percentage Rate(APR) by more than .125% or 1/8%, the borrower must be issued a new Good Faith Estimate which may delay the close of escrow. What changes may impact the ...
02/19/2010
The FTC has proposed a rule that would ban upfront fees for loan modifications nationwide. Hallelujah. hopefully this is not to little to late! Per the rule, companies offering such services would have to wait until after receiving a documented offer from the loan servicer or mortgage lender to ...
02/05/2010
In reading many of the blogs here, there seems to be a consistent thread regarding the lack of service many agents feel they are not getting from the lenders they work with. What should you look for. 1.  Service - the lender has to communicate quickly and constantlywith all parties involved. RETU...
01/25/2010
It's going to be harder to get a government-backed mortgage from now on. Looking to shore up its weakening finances, the Federal Housing Administration is set to announce stricter standards on Wednesday. What the new rules mean The agency will increase its up-front mortgage insurance premium to 2...
01/20/2010
There is great news for police officers, teachers, firefighters, and emergency medical technicians who want to purchase a home of their own. HUD has the Good Neighbor Next Door Program which offers people in these specific professions the opportunity to purchase a home for up to 50% off the norma...
01/04/2010
Congress both extended and expanded the First-Time Home Buyer Tax Credit program Thursday The White House says the President will sign it into law today.  The up-to-$8000 tax credit's expiration date has been pushed forward to spring, requiring homebuyers to be under contract by April 30, 2010, a...
11/06/2009
The House Financial Services Committee has just passed an amendment to the Consumer Financial Protection Agency Act to sunset the HVCC. YEAH ! Now, before we all get excited, this now has to go to the floor, and then, UGH, to the Senate. So far there are 112 sponsors, need at least 100 more to ma...
10/23/2009
I wanted to share this with all of you,  It's funny, and scarily, is fairly acccurate. Please enjoy ! http://www.youtube.com/watch?v=SM7oWKgCVo4
10/16/2009
When shopping for a mortgage, you may have concerns about having your credit report pulled numerous times within a short period. This can occur while shopping for that perfect mortgage with multiple lenders or brokers over the span of a few weeks or even months. But while mortgage inquiries can ...
10/03/2009
When shopping for a mortgage, you may have concerns about having your credit report pulled numerous times within a short period. This can occur while shopping for that perfect mortgage with multiple lenders or brokers over the span of a few weeks or even months. But while mortgage inquiries can ...
10/02/2009
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