Scott Cummins's (scottcummins) Blog

For those of you keeping up with the many changes and regulations that are impacting the real estate and lending environment, we can chalk one up for the home team!  A clarification was made to Reg Z guideline that governed the redisclosure of loan docs if the APR was more than .125% different fr...

WOW - 3 minutes.  What can you do in 180 seconds:   Heat up an entire bag of popcorn Drink a small carton of chocolate milk - ice cold of course place an ill advised wager and double down on a 12 in Las Vegas Tie your child's shoes Brush your teeth Post a blog and watch it disappear from the fron...

If a man jumps out of an airplane without a parachute, does he experience any risk?   NO.  He know exactly what is going to happen.  Therefore, risk is a measure of some level of probability relative to a known possibility.  If I tell my wife that I am going to be at the Moran Team annual party f...

When your customers are engaged, something amazing happens - a Relationship!  To stand out of the crowd of lending professionals in the area, we have focused, not on facilitating a transaction, but creating a relationship.  I have witnesses, and experienced real estate transactions that literally...

Okay, I saw "Seven Pounds", I saw the local bus driver video, I see it on the highway, and now it is ILLEGAL!  No more texting while driving.  I whole heartedly agree with it.  And like many of you, will have to change that habit immediately.  Is there a patch I can wear for my Blackberry addicti...

With so many first time home buyers hopefully making a push to close before November 30th just a reminder that an FHA loan can be a valuable tool.  It is very non-occupying co-borrower friendly.  Parents can easilly be on the loan with their children and according to the government site:  www.IRS...

Working on a vacation in Europe and spent days looking at apartments.  They are actually advertising 200 square feet for $300 per night.  The sales prices are even more outrageous.  Just for fun, what is the smallest home you have ever sold?  Lets see who can beat a Paris Apartment!   Scott Cummins

A recent study by a leading economist at the Dallas Fed Department, and my grad school econ professor - Dr. Keith Phillips revealed that over the past 20 years housing payments as a percentage of median income have traditionally been in a range, but some areas of the country are alarming. Through...

Calling all Realtors: What would you say is the return a pool brings in resale?  Working on capital budgeting program and was trying to figure how much a pool contributes to the resale value.  If it is an $40,000 moderately sized pool in Texas in a neighborhood where 10 - 20% of the homes have po...

Have you handled a shortsell recently that took less than 90 days to close?  It is amazing to me that bank owned REOs are just riddled with bureaucracy and take forever to get completed.   Realtors - if you have had a non hair pulling experience please let me know.  I would like to collect data o...