***Only self-employed borrowers can go stated. Income from any other sources (for example, salaried wages, rental, social security, pension, interest) may be considered in qualifying the borrower as long as it is fully documented.Purchase and R/T Refinances -60% LTV/CLTV to $1,500,000 wit
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02/27/2010
Posted in the Laguna Independent. Hersey Felder as "Monsier Chopin" at Laguna Playhouse in a brief run. Created by the same team that brought "George Gershwin Alone" to life at Laguna Playhouse, "Monsieur Chopin" begins a brief run at the theater, Feb. 25-March 7. On stage, Hersey Felder inhabits
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02/26/2010
Economic Data:EUR / USD 1.3575 Up 0.0026USD / JPY 89.210 Up 0.1350GBP / USD 1.5185 Down 0.0080OIL 78.68 Up 0.51Gold 1,112.50 Up 4.00Key Economic News:We have GDP revision, the Chicago purchasing managers index, Michigan confidence and existing home sales...8:30:
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02/26/2010
The The Department of Housing and Urban Development is preparing to issue a final rule soon that will give mortgage bankers additional time to adjust to coming higher net worth requirements. The final rule will "ensure there is a chance to ramp up to the new requirements," said Federal Housi
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02/26/2010
Most of my business is thru referrals from friends, family, past clients, and many wonderful agents that I work with. I do as much up front work as possible in collecting every piece of documentation from my client to pre-approve them for a loan. My usual pre-approval process results in a DU or
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02/25/2010
Bernanke on Wednesday told Congress that with inflation and the job market in the state that it is in, that rates need to stay low for the short term. This is opposite of what the market was speculating. The market speculated that since the Feds were not going to continue to buy MBS as of March
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02/25/2010
Confused about loan modifications? Don’t worry, you’re in good company. Although the Home Affordable Modification Program guidelines are out there for everyone to see, they are vague enough that different banks have their own ways of interpreting them, leading to confusion when different borrowe
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02/11/2010
According to numbers provided by RealtyTrac, foreclosures fell about 10% from December to January this year, a number corresponding to a trend last year. However, RealtyTrac CEO James Sacaccio was careful to point out that although foreclosures dropped last month, he expects them to rise over the
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02/11/2010
The Federal Housing Administration announced that the default rate on FHA backed loans passed 9% as of Q409. This is concerning news for the housing market considering that FHA insured a total of $752 billion in mortgages in 2009, up 24% from 2008. Despite these growing default rates, US Departme
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02/11/2010
Today Ben Bernake outlined some of his plans for the Federal Reserve to start pulling in the massive amount of funds the Treasury pumped into the economy to prevent economic collapse. In a talk with the House Financial Services Committee, he announced that the Fed would begin to raise the rates
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02/10/2010
