Archive for March, 2011

Persona Non Grata

March 31st, 2011
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By Matt Elerding

There was a time, not so long ago, when the titles of ‘Real Estate Broker’ and ‘Loan Officer’ conjured up feelings of knowledge, professionalism, and, if we were lucky, maybe even a hint of class. Read the rest of this entry »

And now for some good news…

March 25th, 2011
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By now most everyone has heard that FHA will be raising the Annual Mortgage Insurance Premium {MIP} from 90% to 1.15% starting April 18th. In the past 12 months, FHA has raised the MIP twice AND increased the down payment. There is speculation that FHA will increase the down payment again this year. However, while FHA has been raising their fees, a few of the MI companies have been improving their MI cost for credit worthy borrowers. With the improved “risked based” pricing, clients with a higher credit score can pay much less for their mortgage insurance. For a buyer that can put together a 5% down payment on a conventional loan and has 700 credit score, the savings can be significant. Read the rest of this entry »

There's a Sea Change in the Mortgage Business

March 25th, 2011
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You’ve got to Celebrate the moments of your life
We just got back Monday from a 2 week long cruise during which we celebrated our 25th Wedding Anniversary. At this time of year, things are usually very calm in the Caribbean but tour guides at every Island we visited reported an unusually rainy tourist season this year.  I got caught in one such downpour walking across a bridge in Curacao. Too late to turn back, by the time I got across the bridge and to the shelter of the ship, I looked like the winning contestant in a wet t-shirt contest to the amusement of my fellow passengers. We had 45 knot winds across the deck on several of our sea days giving a whole new meaning to ‘Rock and Roll’. The cruise was kind of like our marriage: In between rain drops, bolts of lightning, and rocky seas, we found plenty of sunny moments to celebrate. Read the rest of this entry »

My Buyer has NO money for a down payment!

March 14th, 2011
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 Check out the Guaranteed Rural Housing Development (RD) Loans

Being Grateful – In all Circumstances

March 7th, 2011
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We received this message from the CEO of our company and thought it was worth sharing with you: