Megan Brunn's (megan_mfs) Blog

California had 1.9 million borrowers with negative equity at year-end, more than any other state, followed by Florida's 1.28 million. About three in 10 borrowers in both states were underwater. By other measures, Nevada was the most stressed, with 55 percent of owners having negative equity and b...

For a while now, Fannie Mae and Freddie Mac have basically credited the best borrowers and added extra fees to those the agencies considered more risky. The amount of the credit - or in most cases the fee - was calculated based on a borrower's credit score and the loan-to-value ratio.  The latest...

I've heard a lot of garbage advice going around lately about intentionally defaulting on your mortgage loan in order to live rent-free and renegotiate the loan terms.  It may make sense in some situations, but be careful. Know your place.  You are not smarter than the bank.  The banker makes his ...

Fannie and Freddie Plan Big Fee Increases Fannie Mae and Freddie Mac are both toughening their credit score and down-payment rules as of April 1. In response, major lenders are already factoring in the higher fees, which reduces the effectiveness of the stimulus efforts.Under the new guidelines, ...

   The CEO of my company sent this to everyone today.  I found it quite interesting :) The Banks and Lenders that "prey" together, stay together.     An open letter to the President of the United States.       February 11, 2009     President Barack Obama The White House 1600 Pennsylvania Ave. Wa...

I've heard a lot of garbage advice going around lately about intentionally defaulting on your mortgage loan in order to live rent-free and renegotiate the loan terms.  It may make sense in some situations, but be careful. Know your place.  You are not smarter than the bank.  The banker makes his ...

I think this is SUCH an important part of this business!!  Here's the scenario: You are faced with a normal, everyday task, and it requires you to call into customer service and bitch.  No one really likes having to take time out of their day to complain, but you have to do it. So you pick up th...

What is "PAR" rate and how can I meet or beat it? (Using golf as an example.) (edit/delete) Via Ken Cook - Lender - Investor Specialist: Golfers already know - par is when you reach balance with the score on the golf course. Many golfers instead of writing down the total number of strokes record ...

Senator John Ensign's(R-Nev.) housing recovery plan was defeated Thursday in the Senate by a vote of 62-35, largely along party lines.  The proposal was designed to reduce mortgage interest rates to as low as 4% for home buyers and existing homeowners looking to refinance.    The bill also includ...

1. What is a reverse mortgage? A reverse mortgage is a special type of home loan that lets you convert a portion of the equity in your home into cash. The equity that built up over years of home mortgage payments can be paid to you. But unlike a traditional home equity loan or second mortgage, no...