California Mortgage Blog

Having Your OREO and Depleting It Too Asset-backed or asset qualifying mortgages are not endangered species around here.  Not a week goes by where we don't field an inquiry from a home buyer or homeowner seeking a mortgage but devoid of the typical income qualifying requirements; paystubs, W-2 fo...

Lock Watch for the Week of 4/22/2019 Volatility-O-Meter:And you thought Good Friday was last week... Economicalendar (all times are Pacific):Mon, 4/22:    Existing Home Sales (7am).Tues, 4/23:     New Home Sales (7am). 2-Yr Note Auction (10am).Weds, 4/24:     5-Yr Note Auction (10am).Thurs, 4/25:...

Rental Income from Accessory Units.  Hot or Not? I don't know about where you live, but here in Marin County, accessory dwelling units ("ADU"), also known as accessories, 1+'s, granny units, in-law's, mother-in-law's, etc., are all the rage.  When we discuss remodel projects with our clients, add...

Lock Watch for the Week of 4/15/2019 Volatility-O-Meter:Fairly light week of reports that should mean no fireworks.  But beware every time you issue such a comment... Economicalendar (all times are Pacific):Mon, 4/15:    Empire State Mfg Survey (5:30am).Tues, 4/16:     Industrial Production (6:15...

ARM vs. Fixed If Stairway to Heaven is the most overplayed song, then the 30-year fixed mortgage has got to be the most overplayed loan option.  And like the iconic tune, the 30-year fixed is really great.  I mean for most borrowers, it's the clear way to go.  No rate changes, 360 equal payments ...

Lock Watch for the Week of 4/8/2019 Volatility-O-Meter:Inflation readings and auctions should backdrop an interesting week. Economicalendar (all times are Pacific):Mon, 4/8:    Factory Orders (7am).Tues, 4/9:     JOLTS (7am), 3-Yr Note Auction (10am).Weds, 4/10:     CPI (5:30am), 10-Yr Note Aucti...

Is Your Mortgage Lender Requiring Flood Insurance? Up until this point, everything was going great.  You loved the house, it fit your budget and, by the grace of God, your offer got accepted. But then it was your mortgage lender, Dasher of Dreams, who let you know that the property sits in a spec...

Lock Watch for the Week of 4/1/2019 Volatility-O-Meter:Full slate of reports this week, capped by employment numbers on Friday.  But the bond market may be poised for a correction and higher rates this week.  Stay on your toes. Economicalendar (all times are Pacific):Mon, 4/1:    Retail Sales (5:...

Getting a Mortgage on a Vacation Condo in Hawaii Now that you've snapped out of your daydreams of swaying palm trees and the enveloping comfort of warm tropical air, you may recall that in a previous blog post I covered the things we need to know when buying a second home in Hawaii, and using a j...

Lock Watch for the Week of 3/25/2019 Volatility-O-Meter:"I don't know where I'm going, but I sure know where I been..."  We are in uncharted waters this week and the Fed's statement last week creates a new backdrop for rates.  There has been much volatility since the statement and I would expect ...