Mortgage / Finance

Anybody that's hung around the ActiveRain “water cooler” for any length of time understands the value of the relationships built on the site. AR is so much more than a social networking site, however.


It's also the place to get up-to-the-minute information on topics that affect your clients. Ask yourself: what's the most confusing aspect of buying a home for the real estate consumer? The answer is most likely financing the purchase. Credit scores and how they affect the mortgage rate, types of loan products, points, fees – whew! -- there's a lot to know about mortgages.


To serve your clients effectively you need to know about this stuff and keep abreast of changes in the mortgage industry. Thankfully, ActiveRain is not only popular with real estate agents and brokers but with finance professionals as well.


Whether you're an agent trying to figure out what the Fed's latest move means to your clients or a mortgage pro who needs input on how to build relationships with real estate agents, ActiveRain is the place to tap into a wealth of knowledge.

Trending blogs on Mortgage / Finance
By Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE
(Liberty Homes)
The following link (and the table below) are the federal guidelines from Fannie Mae …set forth on March 29. 2016 regarding leased solar panels and the first paragraph is if the PV Panels are OWNED.  All sellers will face this same dilemma (if the solar company is not agreeing to these terms) when selling their properties with leased panels.  https://www.fanniemae.com/content/guide/selling/b2/3/04.html      This means all the difference in the world in obtaining a great mortgage for a home with PV Panels that are LEASED. Even PREPAID Lease for 20 years doesn't mean much if the Solar Company does not comply with these terms!    
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By Mike Bjork
(Evolve Bank & Trust)
http://MikesDailyMarketReport.com: Initial Jobless Claims continued the lower trend when it was reported that 2.12 million people applied for unemployment benefits last week, which is down from 2.45 million the week prior. The 2nd look at the Q1 GDP worsened, going from -4.8% to -5.0%. We'll get our final number for GDP next month. Durable Goods Orders dropped 17.2% in April; however, when you remove Transportation from the equation, then it dropped 7.4%. Interruptions in the Housing Market really showed in April, as NAR reported that Pending Home Sales dropped by 21.8%. This is the biggest decline on record. Stocks are Up on optimism of the economy reopening; and shrugging off the tensions between US and China. This euphoria will probably be short-lived, as they realize it will take ti...
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By Jeff Jensen
(The Federal Savings Bank/Lending in 50 states)
Mortgage rates continued to hover near record lows in the latest week as low rates spur on purchase activity. The Mortgage Bankers Association (MBA) reports that the 30-year fixed-rate mortgage was essentially unchanged at 3.42% with 0.33 in points. The Market Composite Index, a measure of total mortgage loan application volume, rose 2.7%. The Purchase Index surged 8.6% while the Refinance Index was unchanged. "The housing market is continuing its path to recovery as various states reopen, leading to more buyers resuming their home search," said Joel Kan, MBA's Associate Vice President of Economic and Industry Forecasting.The U.S. stock market rally marches on today as states continue to reopen while airline and cruise shares lead the push higher. In addition, the European Union as well...
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By David Krichmar, DaveYourMortgageGuy.com
(www.DaveYourMortgageGuy.com - Legend Lending)
Conventional 30 year Mortgage: 2.75%Credit score:740LTV:75%Loan Amount:$300kAPR: 3.12%FHA 30 year: 2.875% Credit Score:740LTV:96.5%loan amount:$300kAPR: 4.04%Conventional 15 year: 2.5%Credit score:740LTV:75%Loan Amount:$300kAPR: 2.615%Rates are Subject to ChangeCall me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible.  
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By Joe Petrowsky, Your Mortgage Consultant for Life
(Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709)
“Isn’t it True, We Hear What We Want to Hear”    Morris, an 82-year-old man, went to the doctor to get a physical. A few days later, the doctor saw Morris walking down the street with a gorgeous young woman on his arm. A couple of days later, the doctor spoke to Morris and said, "You're really doing great, aren't you?"Morris replied, "Just doing what you said, Doc. 'Get a hot mamma and be cheerful.'''The doctor said, "I didn't say that. I said, 'You've got a heart murmur and be careful.'"
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By David Jackson, MBA, Financial lending analyst
(Olympus Labs)
Vail resorts shuts down all it resorts (Breckenridge, Vail, Beaver Creek, Crested Butte, Park City, etc..) Disney World closes, and travel comes to a screeching halt. What happens to the “sharing economy” when people stop sharing? What does this mean for Airbnb and companies like WeWork?The Real Estate Sharing Economy Background Here is an interesting statistic by Homeaway: “ Fifty-nine percent of subscribers get at least 75 percent of their mortgage covered by the rental stream.” For almost 60% of people that utilize short term rentals 75% of their mortgage is paid for by the rental income. This paints on ominous picture for thousands of homeowners.The economic shock to short term rentals has become apparent when many cities literally “turned off the lights” banning all short-term rent...
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By Mike Bjork
(Evolve Bank & Trust)
http://MikesDailyMarketReport.com: We'll be able to get a better view of the US Economy when the Fed releases their Beige Book around 11am PST today. This provides a Micro view of each region of the US. Stocks started the morning off in Positive Territory; however, Technology Stocks started to go into the Red, as tensions continue to mount with China and the concerns with protests in Hong Kong. This brought the NASDAQ into Negative Territory. MBS also, started in the Red and just above it's 50 DMA this morning, but has since moved upwards (Up 13bps currently) against it's 25 DMA now. As the 25- and 50- DMA begin to tighten, the MBS will need to choose which side of the lines it will move. We'll be watching this very carefully! Yields have slipped down to 0.67%. If you're located in Cali...
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By Jeff Jensen
(The Federal Savings Bank/Lending in 50 states)
Mortgage backed securities (MBS) market closed down 6 basis points today at 103.50 having closed 285 points above support offered by the 200 day moving average. The conforming rate is at 2.75% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New England, the Mid Atlantic or the Midwest or anywhere else in the U.S. history tells us it is time to refinance!! Please call me at 203-981-8282.
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By Trent Dalrymple (248) 854-0625, Allowing Mortgage Professionals to Lend Nationwide
(Texana Bank)
Please help me welcome our newest Residential Mortgage Loan Originator in our Florida Branch, Lauren Aulenbach who is located in the Dallas, Texas area.Lauren has been in the real estate and finance industry for 15 years. She was raised in Dallas and graduated from Southwest Texas State University with a degree in business.She started off her career as an Escrow Officer for American Title and worked there for 5 years before starting a family with her husband. While raising her 3 kids, she assisted her husband in his real estate business, as well as his mortgage business.Lauren is very detailed oriented and focused on the experience and relationship with each client. With her knowledge of all aspects in the real estate and finance markets, Lauren is able to provide expertise to her clien...
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By Jeff Jensen
(The Federal Savings Bank/Lending in 50 states)
Sales of newly constructed single-family homes unexpectedly jumped in April though the market may not have felt the full impact from the pandemic as job losses mount. New Home Sales rose 0.6% in April from March to an annual rate of 623,000 units, well above the 485,000 expected. Sales were down 6.2% from a year ago due to the big declines seen in March. Sales were up in the Northeast, Midwest and South, with losses seen in the West. There was a 6.3 month supply of new homes for sale on the market while the median home price was $309,900 in April, down 8.6% from a year ago.Consumer Confidence rebounded in May after two months of declines due to the outbreak of the coronavirus pandemic rising to 86.6 from 85.7 in April. Consumers’ assessment of current conditions declined further in May....
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By Jeff Jensen
(The Federal Savings Bank/Lending in 50 states)
Mortgage backed securities (MBS) market closed up 6 basis points today at 103.56 having closed 294 points above support offered by the 200 day moving average. The conforming rate is at 2.75% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New England, the Mid Atlantic or the Midwest or anywhere else in the U.S. history tells us it is time to refinance!! Please call me at 203-981-8282.
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By Mike Bjork
(Evolve Bank & Trust)
http://MikesDailyMarketReport.com: The Case Shiller HPI rose from 4.2% YoY in February to 4.4% in March; however, the FHFA HPI dropped from 6.1% in February to 5.9% in March. Consumer Confidence began to rise in May, as it went from 85.7 to 86.6. Also, a bit of a surprising report, is New Home Sales, which went from 619k annualized units in March; with forecasts calling for 480k units in April, but the actual number of annualized units in April rose to 623k. Stocks are well into Positive Territory this morning, as optimism grows on possible vaccines and data reporting improvement in the economy after states begin to reopen. However, it's not quite affecting the Markets today, but tensions continue to mount between US and China. MBS is Down 8bps and is currently sitting just above it's 5...
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By Holli Washington, Your Neighborhood Expert!!!
                                                                                                 How Much Home Can You Afford?  The single most important part of buying a house is figuring out how much you can  realistically afford to pay. You'll have to take a good look at your budget, debts, credit  reports, and credit score. Once you have a good picture of your financial status, start  saving as much money as you can for a down payment, closing costs and other extra  expensesthat come along with buying a house. Extra expenses could include paying for  ahomeinspection(around $300-­$500 depending on where you live)or hiring a moving  company after the sale is final.    Depending on the condition of your finances ­­ if you have a lot of debt, errors on your  credit report,or a low credi...
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By Joe Petrowsky, Your Mortgage Consultant for Life
(Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709)
“Had to Share this One”    During the quarantine, I've been reading a book on inner peace. Ever heard that old adage, finish what you start? Sometimes it's a really good idea, helps bring some calm to the storm.I'm passing this on because it worked for me yesterday. Sure enough, while I was writing this commentary a doctor on TV yesterday agreed that to have inner peace, we should always finish things we start and that we all could use more calm in our lives. I looked around my house to find things I'd started & hadn't finished, so I finished off a bottle of Merlot, a bottle of Chardonnay, a bodle of Baileys, a butle of wum, tha mainder of Valiuminun scriptins, an a box a chocletz. Yu haf no idr how fablus I feel rite now. Sned this to all who need inner piss. An telum u luvum 
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By Joe Petrowsky, Your Mortgage Consultant for Life
(Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709)
“My Job is Making Dreams come True”      Dear Joe,Nice talking with you and I am happy to be in good hands! I called my Realtor who referred me and thanked her.I will do my 2019 taxes this weekend and file them immediately! Thank you so much for making my dream come true! In 2017, her first year in business there was not a great year, 2018 was very good and the income for 2019 was even better. Now that she will have the 2019 returns completed and filed she will easily qualify for the mortgage she is looking for.  Previously she was told she didn’t qualify for the $400,000 mortgage because the 2017 and 2018 returns didn’t show enough income.  A little common sense can go a long way.   
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By Joe Petrowsky, Your Mortgage Consultant for Life
(Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709)
“Our Bid was Accepted”   Joe, As luck would have it our bid was accepted, what are the next steps? I know we have sent you all the various documents you requested, is there anything else you need from us? We have already set up the home inspection, which is happening next week and have called the insurance agent you referred. She is great!  These clients did everything that I asked so they could win the bidding process. In advance of presenting the offer, I already had two years of w2’s, 30 days of pay stubs, 2 months of bank statements and retirement account statements.  Prior to accepting any of the purchase offers, the listing agent called to ask me how qualified these folks were, when I answered her, she told me, “That is all I need to know”.  
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By Mark Maupin See Blog Free Investors Training, National Real Estate Investors Network Host
(National Real Estate Network, LLC)
Funding Services!100+ Lenders  •  10,000+ Loan VariationsQuick Application Apply Nowhttp://www.NeededFunding.com ​Business Funding, Payroll Protection Program & 23 Single Use Unlike a bank, we are not tied down to a single lender. With over 100 lenders and 10,000+ loan variations we have the expert skills and financing resources to get your deal closed. SBA Payroll Protection Program •        1-4 Unit Investment Property Rental Home Portfolio (5+)•        Apt Building / Multifamily Dwelling•        Assisted Living Facility•        Auto Dealership/Used Car Lot•        Auto Repair•        Bed & Breakfast Inn•        Bowling Alley•        Commercial or Retail Building•        Gas Station•        Restaurant•        Self-storage•        Shopping / Strip Center•        Special Use Property•  ...
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By Charles Stallions, 800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
TODAY'S TOP STORIESA Guide to Surviving Financially as the Bills Come DueThe coronavirus has dealt a financial blow to millions of Americans and now April’s bills are coming due – but reach out to lenders and others for help. Read more Pensacola's Need To Know? Fannie, Freddie Tighten Some Mortgage Standards The mortgage companies that back most loans eased some regulations, but they’re tightening work history timelines. For self-employed borrowers, it’s now only 10 days. Read more  If you would like more information, need to know the value of your home contact me or you can always visit our award winning website loaded with information.    What is Title Insurance, Escrows and closings explained in simple terms? Get REAL ANSWERS   .Latest Home Offerings  MAKE A NOTE OF ITHello, my name ...
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By Rob Spinosa, SVP of Mortgage Lending, Marin County
(Guaranteed Rate, Marin County, CA)
Will My Property Taxes Go Up If I Refinance?  Because the current interest rate environment is so conducive to refinancing, a concern that some have about taking action stems from confusion related to how their property taxes are determined, and specifically the question, "Will refinancing cause my property taxes to go up?"  It goes without saying that nobody wants to save money via refinance, only to see it evaporate in the form of higher real estate taxes.  But is this a real threat?  Or is it safe to assume that simply by refinancing you would not see a change in your tax basis? Our answer must first address, well, the address --- of the home, that is.  Since I'm a licensed loan officer in the state of California, working out of an office in Marin County, I'm only going to view this ...
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By ReShawna Leaven, Experience. Knowledge. RESULTS.
(Keller Williams Realty)
Student Loans and Real Estate Three Different Types of Student Loan Statuses Deferred Income Based Repayment Paid As Agreed There are three different student loan statuses on your credit report. You will either be in deferred, income based repayment or paid as agreed status.  There are three different student loan statuses on your credit report. You will either be in deferred, income based repayment or paid as agreed status.  Based on FHA & Conventional Loan Guidelines for Student Loans, if you are in deferred or income based repayment, your monthly payment will be based on 1% of your total amount owed. For example, if you owe a total of $50,000 x1% = $500 as a monthly payment If you are in paid as agreed status and your monthly payment has documentation, then you would qualify based on...
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