ARCHIVED BLOG POSTS
2010
Finding your way through the new GFE almost requires a detective to help identify the twists and turns, what can change and, which fees are set in stone, unless, of course, it falls under one the exceptions..... As most of you already know, the new rules require mortgage originators to lump the o...
01/30/2010
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As Ken Harney put it: "FHA is going to give the opportunity to kill three birds with one stone!" FHA hoes to help low-downpayment homebuyers, investors who fix-up foreclosures, and communities burdened with too many bank-owned and foreclosed homes - all with one potentially far-reaching policy c...
01/29/2010
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The new federal rules for the Home Affordable Foreclosure Alternatives (HAFA) program announced November 30 Supplemental Directive 0909, to be effective April 5, but available for Lenders to start as soon as they have a policy in place regarding the new program. While HAMP (Supplemental guideline...
01/28/2010
On April 5, 2010, a new Treasury Dept program entitles - Home Affordable Foreclosure Alternatives Program (HAFA) goes into effect. HAFA is part of the Home Affordable Modification Program (HAMP). It provides incentives in connection with a short sale or a deed-in-lieu of foreclosure on a loan eli...
01/23/2010
If any of your prospective sellers have been holding back on getting involved with the new $6,500 federal tax credit for repeat homes purchases, there's no further excuses for inaction. That because the "Infernal" Revenue finally published the rules for the repeat-purchase credit, with key detail...
01/22/2010
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Apparently displeased with the lack of modifications completed by the end of November, the feds made house calls to Lenders in December to make sure the people who could be helped with loan modifications were being helped. As a result, completed permanent modifications doubled to 66,465 with anot...
01/21/2010
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The Federal Housing Administration will announce more-stringent lending requirements and higher borrower fees on Wednesday to cushion against rising defaults and stave off the need for a taxpayer bailout of the agency. The FHA, which has taken on a major role in the housing market during the econ...
01/20/2010
New disclosure regulations have gone into effect and, I'm not clear the problem has been solved. Having been in the business for 22 years, I have had lots of opportunities to work with some really great loan officers who were fully knowledgeable about their products and associated fees. Like ther...
01/18/2010
All I came across this in a Leo Quinn newsletter. I like it: When setting your goals make them ACTION goals rather than result goals. For the most part we can control our actions but we can't control the results we get from those actions. So instead of making it a goal to weigh X pounds by a cer...
01/17/2010
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All After many, many interpretations about what may or may not be required, here are the specific requirements. Thanks Vince Liguori Now please go sell something! Dave Rosenmarkle Broker/Owner ighland Realty Arlington, VA 22207 Office (703)538-2566 davidrose@mris.com www.Highland Ag...
01/17/2010
Rainer
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Dave Rosenmarkle
33 years of providing fully satisfying service!