Dave Woodson

I Predict that… 06 January 2009 | Business, Mortgage, real estate | admin The New Year is not even a week old but that is not stopping the market “experts” from predicting what’s in store for us in 2009. The calls on Indiana housing and Indiana mortgage rates run the gamut: * Home prices will fal...

All Indiana loans: (FHA, VA, Conventional) A Credit report must be dated within 60 days of final loan approval.  May be 120/180 days old at time of close. Effective immediately Indiana FHA: We are seeing an influx of building on own land.  We have to do it as a purchase.  However, this loan can b...

Changes have come to an Indiana FHA Lender near you.  The HUD Mortgagee Letter 08-40 gives us changes to Indiana FHA refinances and are effective January 1st.   This Mad Mortgage Machine update will include guidelines that are not being changed, but I have listed them anyway as a review for thos...

As part of the Economic Stimulus Act of 2008, Congress had authorized a conforming loan limit increase in “high-cost” areas around the country. This really does not affect NW Indiana.  Versus the national conforming loan limit of $417,000, for example, a Manhattan home buyer could secure a 2008 m...

I just moved one whole step closer and I am predicting by the 5th of January.  I will have my first podcast up and running on the mad mortgage machine.  I decided to start here on Dave Woodson take a listen it is some tidbits from my show this summer before timing and family commitments. I am bac...

Last week was defined by lower volume and lack of serious conviction, mortgage markets plodded ahead of Christmas last week.  Friday's post-Christmas action was even slower like the lines at local Super-Center that will remain nameless.  After mortgage rates fell the last two consecutive weeks, t...

Equals Good News For the first time in about a year, the sale of homes fell below 5-million units, this helps push the total home inventory just a bit higher by 0.1% nationwide. Believe it or not, but based on that rate it would take over 11 months for the existing home supply to be exhausted. Fo...

Just wanting to wish everyone a Merry Christmas from my family to yours.  Remember to be safe and that the in-laws only come around a few times a year.  This is a time to be be with friends and family, sharing in the bounty of the year, giving gifts and remembering the gift that God gave us.  Ha...

On a cold day in late-November, the Federal Reserve pledged $600 billion to buy mortgage-backed securities, not treasuries.  This announcement drove down mortgage rates and kick-started a mini Refi Boom among NW Indiana homeowners. And with all of the new mortgage applications it has caused a del...

The mortgage markets improved a ton last week and for the second week in row.  Dare I say “trend”.  After the Federal Reserve said it would use “all available ticks” in their little black bag to stimulate the economy, mortgage backed securities traders responded positively by driving down mortgag...