Jeff's Blog

Mortgage and Lending - The Savings Bank - NMLS ID # 40276
Using the Internet for Mortgage Approvals, has come such a long way. I am able to have my customer do their mortgage application through my web site, and get an approved loan within 24-48 hrs. It is fantastic because the borrower can check the status of there loan. I have made it fairly easy by having several web addresses.,
Word on the street is that May 28th the final day that buyers can take advantage of the home buyers tax credit is shaping up to be the biggest day of the year for Home Sales for 2010.  With talk of rates rising later this year, and the end of the tax credit looming, the economic rebound could slo...
Lender Questionnaire   1.    the average number of days it takes for you to issue a firm loan approval?        Are the rates you are quoting today good 30 days from now? •2.    If we are locked-in and rates go up, what is your policy if our rate lock expires?   •3.    What are the total fees asso...
Fannie Mae has a great program, that First Time Home Buyers should be jumping at.  Along with the $8000, first time home buyer tax ccredit, it is a winning combination. 1st Time Home Buyers and Realtors should be looking at Home Path Propertys.  Prospect Mortgage is fortunately one of the few Hom...
For the second consecutive day Mortgage backed Securities, and treasury Bonds had bad a bad day, which translates into higher mortgage rates.  We should hvae slightly higher mortgage rates on Wednesday 8/4/2009 The key reason why rates rose today was that Home sales increased 3.6% beating anaylis...
Times have certainly changed in the world of mortgages, over the last year. With all the talk in the media about low mortgage rates being reported in the media of 4% , 4.5%, consumers often feel as though these rates are readily available.  Well they are available, however there are fees associat...
 House leaders have struck a deal with the White House to increase Fannie Mae and Freddie Mac loan limits from $417,000 to a maximum of $730,000 during negotiations on a $150 billion economic stimulus package.  The stimulus package, which Congress is expected to pass in a few weeks, also increase...
Today's FOMC adjournment brought us the expected quarter point rate cut that was expected by many, but the post-meeting statement created concern about inflation. The Fed referenced the weak housing market as a contributing factor to the change in short-term interest rates, but also indicated tha...
Current State of Mortgage Financing...What's Going On?Anyone watching or reading the financial news over the last few weeks has seen a lot of angst and consternation over the state of the mortgage industry. In fact, one of the larger lenders in the US, American Home Mortgage, was forced to shut d...
Lock Advisory - Wednesday Jun. 6thWednesday's bond market opened in negative territory but has since moved into positive ground. The stock markets are showing considerable losses with the Dow down 100 points and the Nasdaq down 22 points. The bond market is currently up 5/32, but we will likely n...
Wednesday's bond market has opened relatively flat despite stronger than expected economic news. The stock markets are showing gains with the Dow up 32 points and the Nasdaq up 3 points. The bond market is currently down 1/32, but due to weakness yesterday we will likely see a slight increase in ...

Jeff Sarkisian

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