Marc Brinitzer's (merlin) Blog

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Mortgage and Lending - Big Valley Mortgage - NMLS#220931, DRE#00899544
RECENT BLOG POSTS
The 30 year fixed rate mortgage rose slightly this week to 6.0% this week for well qualified borrowers. Inflation Still the Bigger Threat After last week’s reports showed increases in both the CPI and PPI numbers for February, the Fed declined to lower interest rates and continues to send hawkis...
03/27/2007
I was talking today with a woman referred by a past client.  She and her husband were in the middle of a 100% cash-out refinance on their home.  They have a small handyman business and need a “stated income” loan because their tax returns don’t show adequate income.  She was upset because her le...
03/26/2007
This news hit yesterday in the Associated Press: Wells Fargo cuts 500 jobs in mortgage unit Tougher standards means bank will be handling fewer subprime loans   Updated: 12:13 p.m. PT March 20, 2007 SAN FRANCISCO - Wells Fargo & Co. is eliminating more than 500 jobs in a division that makes home...
03/21/2007
…more 100% financing evaporates, this time from HSBC and affecting what we call ALT A.-not “A paper”, but not quite subprime either.   Keep an eye on your 100% financing, even if it is already approved.   If your lock expires before you can close, you may be without a loan.  PLEASE LOCK ALL 80/2...
03/21/2007
FHA loans are the forgotten toy in the box. Gathering dust like some old Atari game while we’ve played with our shiny new Xbox, FHA loans years ago lost their appeal. It’s time to reconsider. Here six reasons every first-time buyer should consider an FHA loan. 100% financing. FHA was the first t...
03/12/2007
Worthless Pre-Approvals So you’ve decided to buy a home. And being the educated consumer or Realtor that you are, you secured loan approval for your 100% financing in advance. Now, you’ve got a formal approval and all the conditions are met. Smooth sailing, right? Not necessarily. I recently wro...
03/05/2007
“I can’t talk right now, I’m at my day job,” …came the whisper from the other end of the phone. Escrows are falling apart at an alarming rate these days. Most of the fallout—according to my agents—is caused by incompetent lenders. On a recent visit to Keller Williams, Chris DeMattei and his team...
02/26/2007
The 30 year fixed rate closed the week unchanged at 6%. Behind the Numbers In a quiet week, largely devoid of significant economic reports, the main excitement was Wednesday’s CPI report which came in higher than expected at 0.2%. The core CPI rate also rose more than expected at 0.3%, and the J...
02/24/2007
Most likely nothing!  He could care less right now, having just won Stage 5, the second time trial of the Tour.  Levi also won the opening Prologue and holds the yellow jersey as the overall leader.  Congratulations Levi! So rather than trying to create a cheesy tie-in to explain this digression...
02/23/2007
The way the real estate market has slowed, you would think lenders would be just waiting to pounce on and approve next loan that comes through. You’d think our “turn times” would be faster for underwriting, drawing loan docs, funding and recording. You’d think loans should virtually fly through ...
02/20/2007
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Marc Brinitzer

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