Mortgage News

Asset Verification and Sourcing deposits for mortgage approval

Getting a loan these days is incredibly INCOME driven, but an often overlooked part of the approval process is asset verification.  Ignore this part at your own PERIL! It is extremely important for the loan originator to know how much money a borrower has, and even more important to know WHERE the “funds to close” …

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What is a Mortgage? (Probably more than what you think)

Time to break things way down.  Let’s deconstruct what exactly it is we’re dealing with here in the mortgage industry.  I’ve been in the mortgage loan game since 2003 and it never ceases to thrill me when we close and fund another one!  Why you ask?  Because the great thing about making a mortgage not …

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Timmy G Says: “Americans Should Refinance Now”

Treasury secretary Tim Geithner made some comments today that the Fed has “achieved its goal” of lowering interest rates through the purchase of Mortgage Backed Securites. I don’t know how much longer they will do this… I imagine that this will keep up at least through the summer, but there are no guarantees. With the …

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The END of Tightening Mortgage Approval Guidelines

I just read an article this morning about how Freddie Mac has posted a 3 BILLION dollar profit for Q2 of 2012.  This means a couple things: (objective fact) – That they will NOT require any more “bailout” funds from the federal government to stay solvent. (subjective prediction) – We will no longer see any …

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