Ted Knows Loans

As you are all aware, DU release 8.0 is rolling out this week.  This means that if your loan was approved through the AUS (Automated Underwriting System) with a 47%-56% debt ratio and has not closed or let's suppose waiting for a Short Sale approval, you risk that the loan will not be approved.  ...

Can it be? Is it official? Is FHA lending the new subprime? We have all thought about it and have kept our fingers crossed that it isn't so. But to some in the industry  they believe FHA lending has replaced subprime lending, with its no or low down payment and minimum credit score requirements. ...

UPDATE as of 11/19/09:  The rule is 2 years on Conventional.  However: there are probably 10% of lenders that are doing it.  The other 90% will not. It may also vary upon whether it is a Short Sale with no default in payment history or, whether it is a pre-foreclosure that will likely reflect on ...

Your 2010 Business Plan Started Days Ago: How To Market The Extended Homebuyer Tax Credit. I posted a blog on Marketing Opportunities: Homebuyer Tax Credit in AR and also on my Facebook.  I had approximately 45 posts on the AR blog and about 26 personal replies and on Facebook I had no posts and ...

Credit Cards are Causing Damage to Your Credit Score A new survey from the Federal Reserve shows that, despite how consumers are being hurt in the current economy, banks continue to raise the interest rates and lower credit limits with most credit cards.  Not good for those who are already strugg...

Update (BORROWERS' INSTRUCTIONS):   https://www.efanniemae.com/sf/servicing/d4l/pdf/d4lborrowerinstructions.pdf Fannie Mae Is Now My Landlord? Well when you think they have thought of everything, Fannie is now in the Landlord business!!  I am not sure how I feel about this and whether or not it w...

There is a lot of speculation about how, when and who the "NEW" Homebuyer Tax Credit affects.  We should be very clear in our information and learn how to effectively make the most of the opportunity.  If you are serious about building your database and business.  It is time to get your butts up ...

Here we go folks!!!  I suspect we are about to face a firestorm of controversy and business as the Homebuyer Tax Credit is set to be extended not only to First Timers but also to "Existing Homeowners".  I know that some in the AR community have been reluctant of this program but it has done wonde...

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You Tube can make you look like a boob!  "How to Buy a Bank-Owned Home" As I often do, I received another one of those emails from friends and associates that contain some funny video or joke.  This one was different.  I confess! As I was drinking water at my desk, I could hardly contain the laug...