Melanie's Blog

FBI Probe of Countrywide Sends Stock Crashing Upon reports of a criminal probe launched by the FBI into possible securities fraud, Countrywide Financial Corp. shares crashed 14% to the lowest point in 13 years - but Bank of America Corp. insisted that a planned $3.7 billion merger remains on trac...

Rate Lock Advisory - Monday Mar. 31st Monday's bond market has opened in positive territory as investors prepare for this week's data. The stock markets are also showing gains with the Dow up 45 points and the Nasdaq up 12 points. The bond market is currently up 8/32, which will likely improve th...

Rate Lock Advisory - Monday Mar. 31st Monday's bond market has opened in positive territory as investors prepare for this week's data. The stock markets are also showing gains with the Dow up 45 points and the Nasdaq up 12 points. The bond market is currently up 8/32, which will likely improve th...

What a crazy quarter, and more craziness to come.  The biggest change has been not the lenders, but the Mortgage Insurance companies.  They're the ones that insure the loans  against default.  The less you put down, the more risk they take.Starting next week, some of the Mortgage Insurance compan...

As many of you may already know the mortgage industry is slimming down. Many elements cause this to happen. Several mortgage lenders find themselves not funding as many loans these days due to several factors. One is the declining number of people interested in refinancing and purchase homes. Als...

I know many people struggle to get in touch with a live person at the 3 credit bureau's. Here is direct numbers in which a live person will pick up. No automated menu. This is for consumers only.EquifaxP.O. Box 105518Atlanta, GA 303741-800-685-1111404-885-8000http://donny.intranet.lex/redir_page....

So many words are used in the mortgage business so here is a list of terms that will help you understand what everything means:- A - Acceptance:A legal term referring to the acceptance of an offer. A buyer offers to buy and the seller accepts the offer.Accounts Payable:A running record of busines...

So many people think they cannot purchase a home. I wanted to make a post about some situations where people obtained a loan for a home.A young fellow who has worked for about a year and makes under 12k per year while attending college approached me to purchase his first home. He had around 12 mo...

It is important to know what these terms mean and how to tell if your loan officer is doing what they need too so your loan closes smoothly.A Pre-Qualification means you state you make an amount of income and you state you work at employers for a certain amount of time making a certain amount of ...

There was a huge demand for people wanting to buy homes with less than perfect credit and "No Money Down" loans over the past 5-10 years. It became a huge opportunity for anyone to try and buy a home. So many programs were created for every type of situation. No Money Down, Low Credit Scores, Red...