Marc Brinitzer's (merlin) Blog

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Mortgage and Lending - Big Valley Mortgage - NMLS#220931, DRE#00899544
Preventing fallout is a high priority right now in this shakey market.  Escrows are falling apart at unusually high rates.  The usual issues, repairs, property values, and buyer’s remorse, are now coupled with short-sales, bank REOs, and contingent offers.  These are professional realities for t...
I came back from two weeks vacation last Tuesday to find rates half a point higher than when I left.  You just can’t take your eye off things for a minute anymore.  But seriously, 6.625% at one point.  That’s a serious increase for a two week period. So What Happened?(read the answer) 
You may be familiar with the credit improvement trick of piggy-backing on someone else’s good credit to improve low Fico scores. Usually this is done to build scores for a son or daughter with no credit or to rebuild credit for someone who has had problems. I feel dumb for being even a little su...
My Chase rep called this morning to tell me that Chase is pulling their 100% SISA (stated income/stated asset) loans at the end of the month.   I can’t say this is unexpected, since the noose had been slowly tightening.  The 100% SISAs for prime A paper borrowers had survived until now only in t...
What will it take to shock the Sacramento real estate market back to life? Behind the mask of false bravado and feeble optimism worn by industry insiders who think wishing can make things true, there is an undercurrent of worry. Let’s face it. The patient is ill. What will turn things around? In...
Like every other lender and Realtor today, I am the target of a daily assault of emails pitching seminars, webinars, CDs, coaching programs, mortgage leads, and the secret map to instant riches.  It seems like refugees from our industry have fashioned new careers selling the secrets of the overw...
There has been plenty of hub hub lately about BofA’s new No Fee Mortgage Plus loan.  The Truth About Mortgage had this article, Zen Personal Finance wrote this post, and Matt Carter of Inman News adds his own take.   And if you watch CNBC in the mornings, you’ll see rubber lips, the Countrywide ...
I’ll apologize in advance for the length of this article.  But it will enlighten you if you have the patience to finish.  Despite the bursting housing bubble and a fall in housing starts of over 30%, unemployment remains very low.  How can that be?  Home builders downsize crews, shrink their lan...
The conforming 30 year fixed rate mortgage dipped slightly last week and came to rest around 6.16 at one half point.  However, tomorrow morning’s rates should be a bit better. What’s Going On? Recent economic reports show weakness in retail sales, consumer spending, and GDP, all perhaps a reflec...
How’s this for divergent thinking?  Granted, home builders are looking past the housing bubble as they try to anticipate future demand and position themselves in growth markets.  But, if Toll is right, those who buy now will be richly rewarded.  Daily Real Estate News / April 25, 2007 Toll Bros....

Marc Brinitzer

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