Robert's Blog

Mortgage and Lending - HomeBridge Financial Services (NJ) - NMLS 248937
Mortgages are available in all shapes and sizes, no money and low down payment plans are still available, and dont forget to get qualified prior to shopping to be sure you are looking in the right price range.
 Do you leave voicemails or just hang up the phone if someone doesn't answer?I missed a few calls when driving home from a weekend away, in traffic and rain and in my wife's car that is not connected to my phone.  I thought it best to let my voicemail answer and pay attention to the task at hand....
 This has been a recurring theme (nightmare) for lenders.  Real Estate Contracts that are not filled out completely Back in 1987 I remember going to one of my first big meetings in the mortgage world and having it beaten into our heads. "FILL IN THE BLANKS"  It sounds so simple (and honestly it r...
 On Monday I wrote a blog regarding Changes in FHA Down Payment Assistance Programs.  With all of the confusion that came from the Mortgagee Letter 2019-06 we now have a ML 2019-07 to extend the implementation the previous letter for 90 days - My guess is it will allow the sources of DPAs additio...
 FHA Update. ML 2019-06As of April 18, 2019 FHA has made SIGNIFICANT changes to guidelines for ANY type of down payment assistance programs (DPA) Including all "government entities" this effectively eliminates the Cheona Fund effective immediately. All other Government Entity Down Payment Assista...
 Over the years I have had this question asked in so many ways.... Furniture is a common one, and a client just asked me that one yesterday.  While guidelines continue to evolve it is important to understand what is happening in the mortgage world and what we do as lenders, often behind the scene...
 We are just two weeks until we have to file either an extension or our actual tax return.  If you are currently applying for a mortgage, and your tax return was needed to calculate your income you will need the following if you are closing after April 15th:  Copy of the actual 2018 1040 form – O...
 Yesterday was the end of the 2 day Federal Reserve meeting and as we anticipated - The Fed did not move rates.  As is always the case - it is not what the Fed does, but what they say that has the most power.  The Comments that came out of the meeting were more dovish than anticipated leading to ...
 FHA has made some significant changes to its Total Scorecard in DU effective with case numbers issued as of today, March 18, 2019. FHA Info # 19-07 was issued last week with this announcement.  While FHA has not provided any specific guidance as to exactly what the changes of the Total Scorecard...
 Be grateful for what you have and stop complaining - it bores everybody else, does you no good, and doesn't solve any problems -Zig ZiglarCall me for all your residential lending needs! Robert Rauf Mortgage Loan Originator NMLS# 248937 or my blog: http://activ...
  One thing I have noticed over my career, with each decade that passes by buyers are less willing to purchase a home that needs work. In some scenarios they don’t even want to deal with simple painting of a home. This causes a few issues when house hunting; competition and inventory.There are li...

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