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The HUD (or Department of Housing and Urban Development), formally suspended an important rule shift regarding down payment assistance guidelines. The rule, issued in April 2019, was establishing a need for clarification and guidance for down payments on loans backed by the FHA, but as of today, ...
The Fed has lowered interest rates for the first time in 11 years. This comes as a consequence of several events, including the continuing pressure of the POTUS and the possibility of negative economic repercussions. The Federal Reserve hasn’t lowered these rates since the 2008 recession. Jerome ...
The HUD announced new actions regarding the reduction of risks inside cash-out refinance lending. For starters, loan-to-value maximum requirements will be lowered by 5% starting on September 1st of the current year. Other actions and policies include new ways of reducing loan churning on VA mortg...
Today I want to write about something serious, something that really upsets me. A friend of mine sent me an article(link), a friend and a financial advisor who understands reverse mortgages. The title of the article from USA Today reads:  “Seniors were sold sold a risk free retirement with revers...
 A $700 million settlement has been agreed between the Consumer Financial Protection Bureau (CFPB) and Atlanta based credit company, Equifax. The events unfolded after a catastrophic data breach in 2017 led almost 150 millions of consumers to become publicly unprotected and vulnerable, exposing s...
I wrote a short blog post about Live Well Financial’s previous situation some weeks ago. But yes, it seems that one of the biggest reverse mortgage competitors in the game is finally shutting its doors for good, and it looks like that’s just the tip of the iceberg. Seems like Livewell has entered...
Graphs and Articles provided by National Real Estate Post and GeekWire I wanted to pose the question: Are we seeing the end of the real estate agent? More importantly, was this perpetuated by the real estate agents themselves? So we have 2 very large internet companies, tech companies that have b...
I keep seeing articles about mortgage applications in decline, when we are booming and seeing a very healthy market.  Buyers are getting the offers they want as the market has shifted from a definite seller's market to a healthy and balanced buyer's market.  We were seeing 5+ offers on properties...
As a mortgage lender, I have always viewed Non-QM Loans as a great opportunity for people to receive a loan that doesn’t include all of the confusing and time spending rules a regular QM loan requires.  In previous years, (viewing them on a much higher scale) Non-QM hadn’t reached the popularity ...
One of the biggest mortgage lenders in the game has abruptly shut down operations regarding reverse mortgage originations. The Virginia based company, Live Well Financial, was founded in 2005 by Michael Hild, a local entrepreneur and former Capital One executive. The originations came to a stop a...

Phil Stevenson, CRMP

"Mortgage Nerd" in Miami, Florida and Texas
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