Will Fannie Mae and Freddie Mac Disappear?

You probably know what Fannie Mae and Freddie Mac are; at the very least you’ve heard of them and know what they do. In 2008 Fannie and Freddie were, in effect, seized by the Bush Administration and put under control of the Treasury Department.  Since then, Fannie and Freddie have collectively purchased as much as...

Does Anyone Care About Mortgage Fraud?

You might think that with extraordinarily tough underwriting guidelines that mortgage fraud is a thing of the past.  It is not necessarily so – old habits die hard for some people.  But it admittedly hasn’t been in the news much.  It turns out that might be because the Department of Justice has not made it...

Who Wrote All The Bad Loans? (And How About Now?)

I get into a debate once in a while about who was responsible for all the bad loans leading up to the foreclosure crisis.  There is a fairly common perception that brokers were entirely, or at least largely, responsible for the irresponsible lending practices. As it turns out, this is kind of true to a...

Will Government Shutdown Prevent Loans from Closing?

I’ve been hearing a lot about how underwriting guidelines are loosening up in response to the government shutdown. Not exactly… Nowadays lenders double-check and document every possible area where fraud occurred in the past.  Two of these areas – verifying social security numbers through the Social Security Administration and your income via IRS tax transcripts...

But I found a Better Rate Online!

One of the most frustrating things a mortgage advisor can hear is “I found a lender online with much better rates.”  As a mortgage broker with the ability to shop for your loan I don’t hear that very often, but from time to time I do. However, I know that for almost all loans we...

Can Yelp Reviews be Trusted?

I thought this article was really interesting.  I have colleagues who drive quite a bit of business through Yelp, and I use Yelp from time to time myself to find restaurants or other service providers.  This article won’t prevent me from using Yelp, but I will take reviews with a grain of salt from now...

Will You Need Private Mortgage Insurance on Your Mortgage Loan?

You may be wondering what PMI is and how you know when you need to purchase it. Below is the short version of what you need to know.

3 Stress-Free Packing Tips For Moving Into Your New Home

Moving everything in your house to your new home can be an overwhelming task.

When Can You Buy Real Estate After Foreclosure?

If you lost your home due to foreclosure, you probably haven't given up on the dream of owning a new home. The good news is that a number of guidelines have changed which may allow you an opportunity to buy that new home sooner than you think.