Marc Brinitzer's (merlin) Blog

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Mortgage and Lending - Big Valley Mortgage - NMLS#220931, DRE#00899544
In the ongoing quest to unearth the few remaining 100% home loan options, I wrote a recent article about VA loans called 100% Financing: Focusing on VA.  Since then, I have been asked numerous times whether or not a veteran can have two VA loans. The answer is yes and yes.  Now I know that the qu...
In my last post New FHA & Conforming Loan Limits Announced, frequent Lending Clarity commenter and knowledgeable industry professional Catherine Coy provides a link to Fannie Mae’s guidelines and pricing policies. A quick read of Fannie’s guidelines revealed some key points about the new conform...
Despite the bumpy ride, rates didn’t change much this week. According to Freddie Mac’s weekly survey, the 30 year conforming fixed rate ended the week at 5.65% with half a point. This of course is the owner occupied rate with the highest credit scores. Investors, or those with lower scores pay m...
With the rapid demise of 100% financing, first-time home buyers are finding it increasingly difficult to purchase homes, even as prices become more tempting. Yet there is one solution often overlooked by borrowers and lenders alike. It is the Nehemiah program, and when used in conjunction with a...
After what can only be described as a two-week roller coaster ride, we are back at the platform we left two Mondays ago. Freddie Mac reports a weekly average 30 year fixed rate of 5.65% at .5 pts and a 15-year rate of 5.16% at .5 pt. The chart above shows the price movement of the Fannie Mae MBS...
There have been many consequences of the subprime mortgage meltdown. But one which has received very little attention so far is the repricing of risk by investors who buy mortgages. That is about to change. What’s important to understand about this fuzzy term is that mortgage rates will now rise ...
The Senate’s FHA Modernization Bill, S 2338 flew through with a 93 to 1 vote yesterday. The House previously passed its own slightly different FHA reform bill in September. The measure will now go to a committee to work out compromises between the two competing version before the final draft is ...
As real estate values continue to sag, pushing many home owners toward foreclosure, one question surfaces more than any other. Will a short-sale damage your credit less than a foreclosure? REWIND I wrote a couple of articles awhile back entitled, Short Sales vs. Foreclosures…Your Credit Will Suc...
Last June I wrote an article entitled Is This The End of Credit Score Piggybacking? That article discussed the renting or selling of credit scores by good borrowers to fake good credit scores for bad ones. The practice of piggybacking credit has been used by parents to help their kids develop goo...
As if on cue for Thanksgiving, the Sacramento Bee today announced that governor Arnold Schwarzenegger had obtained agreement from four lenders to freeze rates on California subprime loans that are about to reset.  Hey, one more reason to celebrate! The initial list of lenders include Countrywide...

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