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Mortgage and Lending - Homestreet Bank - NMLS #404052
RECENT BLOG POSTS
FHA CLARIFICATION: There has been some controversy on FHA loans regarding whether a property can be purchased within 90 days after the last transfer of title. There has been some verbage going around indiciating that the 90 day rule has been eliminated now. One of my realtors had pulled up some ...
09/23/2009
It gets so easy to get down and out in this business, when, in retrospect, I find so many Loan Officers and Real Estate Agents trying to do too many things at one time to help fill in their "cash flow" void.   The fact of the matter is, I have been there and done that and know what it is like to ...
09/12/2009
Hello everyone.     After tacking on 1/2% post-Memorial Day, mortgage rates never quite recovered and sit near their highest levels of the year. Rates look poised to dip, however. The U.S. dollar is strengthening internationally, boosting the appeal of dollar-denominated securities. This includes...
09/11/2009
Just a reminder about how the credit scoring works. In yesterday's world, just a couple of years ago, a 680 was guaranteed to get you the best rates out there on the conforming side. Now, with all of the Fannie Mae and Freddie Mac changes, that bar has been raised to 740 unless you want to go FHA...
09/07/2009
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Indiciations say that the rates will rise later this year as the government is not nearly as active as they were earlier in the year in buying the MBS(mortgae backed securities).  Home prices are not declining as rapidly as they were in the Portland, OR-Vancouver, WA area as earlier in the year. ...
09/02/2009
When it comes to first time homebuyers, they are a significant portion of our homebuying population, especially with this $8000 tax credit expiring soon.  I have picked up many files from other lenders and brokers who simply sent off the disclosures to the buyers, expected them just to sign them ...
08/29/2009
2 Comments
The following below is an excerpt from our upper management at Wells Fargo yesterday via e-mail.   "Today, Secretary of Housing and Urban Development (HUD) Shaun Donovan announced enhancements to the Administration's Home Affordable Refinance Program. We are working with the government to underst...
07/02/2009
Last night my wife Melinda and I were out shopping at Office Depot in Jantzen Beach for a laptop for her. We spent nearly 45 minutes with this salesperson. The salesperson was nice, answered our questions, and obviously knew his products. However, much to Melinda's dismay(and mine), we walked out...
07/01/2009
2 Comments
With everyone so freaked out about interest rates "skyrocketing" to the mid 5s, and nobody wanting to make a move until the rates on 30 year fixed mortgages return back below 5, I would consider this:  It is unlikely these rates will get back below 5%  Yes, we have seen some favorable pricing upd...
06/29/2009
PAUSING FOR THIS VERY IMPORTANT MESSAGE I hate to be the one that said "I told you so". However, I warned all of you in my March 31 411 e-mail that we should expect rates to rise in the future, and to not delay to act upon an awesome opportunity before us to purchase or refinance. What has happe...
06/02/2009
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Paul W. Thompson

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