Tampa Bay Mortgage Loan, better known as the Mortgage Communication Spot is the brainchild of Brian P. Forrester, mortgage pro who is saving the world one mortgage at a time! Because many of our readers have not had a chance to find out about the man behind the mortgage news, we thought that you would… Continue Reading Tampa Bay Mortgage Loan – Mortgage Communication Spot
So because Fannie Mae is now hurting for money, they’re increasing their costs. So the borrowers who are on higher ground now probably need to pony up a 25% down payment to compensate for the fees and the shame of an 800 FICO.
And in addition to this travesty, the instrument our Fannie Friends are using to perpetuate this latest infraction of civility is yours truly and other mortgage lenders by making us put on the black hats and knock the townspeople around with these inflated costs.
But putting shock absorbers into place that can move when the market fluctuates gives us the infrastructure that will get us the farthest. In the mid 2000’s, we travelled to an insanely crazy place in this mortgage industry where the contest at that time seemed to be that the Florida mortgage lender who could ask for the least documentation and the smallest shred of evidence that a borrower was a low risk candidate would win the day. But we all know who lost on those deals; the unassuming buyers who were blinded by the American Dream and smarmy sales talk.
The Florida real estate and Florida Mortgages market is crazy right now! According to all estimates, Florida ranks on the top real estate lists for all the wrong reasons, falling prices, foreclosures, defaults and more. Where can you go to get some REAL answers? We are here to help with the Florida Real Estate Puzzle… Continue Reading Florida Mortgages and The Real Estate Puzzle Event January 25th
Again, you’d think this should be the norm; but when I see these low percentages of condos that are getting closed, it’s not always the reluctant lenders that are causing problems in this market, a lot of times it’s the slackers. Hate to say it, but it’s true.
At the end of the day, when you do your job, you don’t get stranded on the Island of Misfit Toys.