678-439-8683
FHA Home Loans
Thursday, December 24, 2009
Ready for the family
Thanks to the wonderful blessings of God and the privilege of being born into a free nation we are pleased to be the "Home of Christmas" to my family once again.
678-439-8683FHA Home Loans
Wednesday, December 16, 2009
Saturday, December 12, 2009
Rasmussen: Tea Party outpolls Republicans - On Politics - USATODAY.com
The notion that the Tea Party movement is a vocal minority in the Republican Party may have been put to rest today. A new three-way generic ballot from Rasmussen Reports finds that a Tea Party candidate would fare better than a Republican candidate, 23% to 18%, with the Democratic candidate coming out on top at 36%. The poll also found 22% remained undecided.
There is even better news for a Tea Party candidate when it comes to independents. They chose the Tea Party candidate (33%) over both the Democratic (25%) and Republican (12%) candidates. Nearly a third of independents were undecided at 30%.
Interested in knowing more about the Tea Party or becoming a Delegate for the Patriot Caucus? Visit:
http://taxdayteaparty.com/2009/12/patriot-caucus/ and
http://patriotcaucus.pbworks.com/
Friday, December 11, 2009
Mortgage industry week in review - my Examiner.com article today
Chris Dodd, Senate Banking and Finance Chair may get a reform bill next week.
via examiner.com
Mortgage reform being considered today in the house may be sent to the Senate as soon as next week.
HR 4173 specifically bans ACORN and affiliates
Congress doesn't do everything wrong. For example:
http://www.opencongress.org/bill/111-h4173/text?version=ih&nid=t0:ih:4308
Tuesday, December 8, 2009
Decorating the man cave - season 4
I like having Christmas decorations in the man cave. You coming over?
678-439-8683
FHA Home Loans
Saturday, December 5, 2009
Agents respond to sweeping FHA changes on the horizon
Reaction is wide ranging on the heels of the announcement by Secretary of Housing and Urban Development Secretary (HUD) Shaun Donovan's announcement that sweeping changes are coming for guidelines for loans insured by the Federal Housing Administration (FHA). Earlier this week Donovan announced to Congress the levels of reserves for FHA are nearly 1.5% lower than mandated by law. In an effort to recover the reserves the department expects to announce several changes in early 2010. Changes may come as early as the first week of January.
Skin in the game is the phrase of the day
""Certainly credit score isn't a guarantee that people will stay in their homes, but the more 'skin in the game' a person has the less likely they are to walk away without fighting for it." Says Jessica Horton of Jessica Horton and Associates in Hampton, Georgia.
via examiner.com
Reactions are definitely varied. Please take a moment and leave your comment at http://www.examiner.com/examiner/x-30970-Atlanta-Mortgage-Industry-Examiner~y2009m12d5-Agents-respond-to-sweeping-FHA-changes-on-the-horizon - it just may make a difference!
Friday, December 4, 2009
Very interesting - gold down -3.92 and the only up? Livestock! (Eat more meat :)
PRICE CHANGE %CHANGE TIME GOLD 100 OZ FUTR (USD/t oz.)
1170.600 -47.700 -3.92 11:45
via bloomberg.com
If the BLS reports to the Commerce Department and the Commerce Secretary reports to the ... president ... why would they even manipulate the employment numbers? And what would happen if they did? Not saying it happened just asking if it could ...
If they outlaw YSP should they outlaw SEX, too?
The only people who oppose Yield Spread Premium from lenders (like me) to brokers (like some of you) are people who have no idea what the difference or similarities are to how lenders are paid and brokers are paid. They also seem to lack the ability (or desire) to understand how YSP is, has been and can be used to benefit the borrower. YES! It has been abused but so has fried chicken and beer. Do you want fried chicken and beer made illegal just because some fool ate too much and drank too much? Or what about sex - it is abused more often than YSP. Would you like sex outlawed so nobody gets any?
Thursday, December 3, 2009
FHA changes combined with Fannie Mae changes going to put us into a depression?
Understandably the mortgage industry and the insurers of loans, including the Federal Housing Administration (FHA), needed to have been doing more to mitigate risk in the previous years. It is no secret what has happened to our economy largely as a result of the imploding of the mortgage industry.
Subprime lending was fueled, in the larger part, by a sense of security served up by the ratings agencies like Standard and Poors. The higher ratings on mortgage backed securities resulted in ...
via examiner.com
So if, say, 30% of the people who can qualify for a home loan today cannot qualify in 29 days from today - is anyone doing the RIGHT thing?
Wednesday, December 2, 2009
More regulatory changes affecting your mortgage - will it kill brokers and an open/fair market?
Sen. Sam Brownback, R-Kan. speaks in Washington on Finance Reform.
Since 1974 one set of documents has remained relatively unchanged. These documents are a federal requirement to every conventional and government home mortgage issued on primary residences in the United States. Before these documents, it is claimed, bankers were able to charge unlimited fees, unlimited interest rates and it was difficult for home owners and buyers to shop mortgages.
via examiner.com
This is my daily mortgage news in Examiner.com - please subscribe for free while you are there and your comments are not only welcome but invited.
Tuesday, December 1, 2009
Credit guidelines are tightening further - will impact sales
Effective with all loans submitted to Fannie Mae (FNMA) through the Desktop Underwriter (DU) a fair percentage of borrowers will no longer qualify for loans based not on common sense underwriting but rather on an automated decision. Fannie guidelines have allowed total debt ratios to exceed the forty-five percent cap especially when there were other circumstances such as long time established credit, more liquid reserves than normally required or installment loans which have a short time remaining before pay off.
via examiner.com
Hang on real estate agents. Getting those buyers approved is getting tougher 12/12/09 - you can thank the failing Fannie Mae. Read the full article and subscribe for daily news updates.
Join us today for our 52nd Social Media Edge Radio Show!
Today (Tuesday December 1, 2009) at Noon Eastern join me an my co-host Jason Crouch http://austintexashomes.com for our 52nd show since Jason joined me at the microphone in 2008. Our special guest today is Miamism herself, Ines Hegedus-Garcia http://miamism.com - Ines is a noted speaker and presenter around the nation, a gifted photographer and an amazing real estate success story from Miami.
Joining us also will be our regular crew consisting of Mike Mueller (The Pantless Techie) http://areweconnected.com, Jeremy Blanton of Active Rain and Myrtle Beach Blog http://myrtlebeachblog.com, TS Elliott of http://brandmediapr.com and our newest crew member, Clint Miller of http://realestateclientreferrals.com
If it's nothing else it's always entertaining and you can listen to every show at http://blogtalkradio.com/jckc
Our network also hosts two other new shows which are both doing well: The M Files every Monday at 3PM Eastern (Noon Pacific) with Mike Mueller and TQ Radio every Monday at Noon with the Twitter Queens Diane Guercio, Maya P. and Lesley Lambert.
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