A Primer on Prime Rate When we hear talk of the Federal Open Market Committee (FOMC) adjusting interest rates, there is one index in the mortgage environment that we know will be impacted, even when 30-year fixed rate loans may not see any change to their pricing. This rate is known as Prime Rate...

08/29/2017

Stated Income: The Band That Is NOT Getting Back Together

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Stated Income: The Band That Is NOT Getting Back Together Not a week goes by that I don't get asked in some fashion, explicitly or implicitly, if stated income loans are coming back. And at the risk of making this a record-short blog post (for me, anyway), let me cut right to the Blues-Brotheres...

08/24/2017

Can I Use RSU Income to Qualify for a Mortgage?

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Can I Use RSU Income to Qualify for a Mortgage? Way back in 1997, Jeff Bezos set forth his bold business plan for Amazon, with proviso #9 reading: "We will hire and retain the best people and we will not pay them with cash." Wait. What??? So I guess it's no longer any secret that many technolo...

08/17/2017

For Your Eyes Only

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For Your Eyes Only You’ve decided to work with RPM Mortgage and you’re about to begin the loan process. How can you be certain that the personal and confidential information you send to us --- the sensitive documents such as tax returns, paystubs and bank statements --- stays secure in transit a...

08/10/2017

Caution: Collateral Crossing

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Caution: Collateral Crossing A while back, and in this post here, I talked about the four distinct ways that a homebuyer could purchase a new home without first selling his existing one. And of the options, perhaps the least understood and most complex is the cross-collateralization program. T...

08/03/2017