Shay Campbell's Blog

Mortgage and Lending - Universal American Mortgage Company - NMLS 46083
Today the National Flood Insurance Program was reinstated.  It is retroactive back to May 31 2010.  This is GREAT news, especially for costal properties.  This new reinstatement is good till September 30 2010.   Better late than never!   For more information contact Shay.   I don't work for a ban...
Everybody in the real estate industry needs to be aware of the new "GOTCA" that is out there in mortgage land.  It is called the "soft credit pull".  This new initiative is from Fannie Mae's lender letter LL-2010-03 dated 02-26-2010.  If you link to the letter, look under Borrower Credit-Undisclo...
To begin with I'm not talking about an ARM payment or and interest only payment.  I'm talking about 30 year fixed rate mortgages.  Traditionally when you purchase a home with less than 20% down, the lender would require mortgage insurance and most of the time it was paid by the borrower monthly. ...
Under current law the $8,000 mortgage credit for first time homebuyers are for purchase contracts written by April 30, 2010 and closed by June 30, 2010.  A proposal was introduced in the Senate this week to extend the deadline, for first time homebuyers who are under contract, from June 30th to S...

Shay Campbell

Raleigh, NC
local_phone(919) 272-1483
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