Last October, a new five-page form called the Closing Disclosure was established to provide borrowers with a better understanding of the all of the details about their mortgage loan. This new Closing Disclosure form highlights the important terms of the loan, the projected monthly payments, and how much the borrower will pay in fees and… Continue Reading What Is the New Closing Disclosure Form And What Does It Do?
In theory, I’ve been in agreement with most of “this new stuff” imposed on industry professionals to keep them professional. But it would just be counterproductive if some crazy ramifications come out of this that don’t really address the issue but create another one. At the risk of going to the dark place, let’s not forget how HVCC became a four letter word.
Here we go again! In the mortgage industry, mortgage brokers have seen as many interpretations of rules as there are actual rules that govern the home mortgage business. Seller paid contributions (money that can be allocated toward buyers’ expenses of everything from closing costs to pre-paids to escrows and are paid out of the sellers’… Continue Reading Mortgage Loans and Seller Paid Contributions
We are professionals; we just have to fix things and not point un-informed fingers at anyone. We stick together and we’ll get it done. At the end of the day, save the drama for your mamma.
OK, so just add me to the endless list of bloggers blogging about the first time buyer home loans-$8000 tax credit-turned additional down payment-pay down option-closing costs supplement. I do say “hooray!” to this assistance as it will help get more people back into homeownership. My customer roster alone has as many true first time… Continue Reading Down payment Assistance