Forbearance Guidelines Updated for Conventional Financing

This week Fannie Mae and Freddie Mac updated guidelines for how soon home owners can obtain a new mortgage if they have entered into a forbearance agreement with their current lender. Most of the focus with this program is that it’s not suppose to impact their credit score. Although the credit score may not be impacted, the credit report reflects that payments were not made on the mortgage. It seems that many home owners are not aware that taking advantage of not having to make mortgage payments will impact their ability to get a new mortgage for refinancing or buying a new home [Read more…]

Some things to Consider before you do Forbearance with your Mortgage

Politicians and the media have made it sound like entering into a forbearance with your mortgage because of the pandemic is something that many Americans are taking advantage…and maybe you should too, right? Well…maybe not. [Read more…]

Governor Jay Inslee clarifies requirements for Loan Officers and Real Estate Agents during the Pandemic

Last Friday, Governor Inslee issued clarification to real estate agents and lenders regarding real estate and mortgage transactions during the corona virus pandemic. Originally, real estate agents were clarified as “non-essential” which caused a bit of an uproar in the real estate industry. [Read more…]

Getting a Mortgage During the Coronavirus

What strange times we’re in! Last night, Governor Inslee declared we are in a minimum two week “shelter in place” with only essential businesses allowed to operate, unless you can work from home.

Mortgage companies are currently considered essential and Mortgage Master Service Corporation is open to help you with your mortgage needs. I am currently working from my home office as I navigate mortgage rates that are off the charts! We are still helping people with their refinances and home purchases. [Read more…]

Were you potentially hacked from the massive Equifax breach?

Equifax announced yesterday that they’ve were hacked on a scale unlike any we’ve seen potentially impacting half of our population.

From Equifax: “…a cybersecurity incident potentially impacting approximately 143 million U.S. consumers. Criminals exploited a U.S. website application vulnerability to gain access to certain files. Based on the company’s investigation, the unauthorized access occurred from mid-May through July 2017.” [Read more…]

Mortgage rates dropping following the Brexit

Mortgage_Porter_Rates_GapInvestors had been banking on the Brits staying in the European Union. This morning’s Brexit narrow vote to leave the EU results stunned the markets. The Dow was down over 500 points. This morning, mortgage rates are dropping.

Want to lock in a historically low mortgage rate? You can start with getting a rate quote or by starting a pre-application. NOTE: I am licensed to originate mortgages for homes located in Washington State.

IRS breach potentially delaying real estate transactions

iStock-000017972256XSmallEarlier this week, it was revealed that over 100,000 tax payers may have had their personal information stolen from the IRS. This data breach is potentially causing hiccups with real estate transactions currently in process too.

[Read more…]

Keep me posted!

I forgot that postage rates were going up on January 27, 2013. Some of my clients who will be receiving my quarterly newsletter will see an extra $0.01 in postage on this issue! 

“Going postal” will soon mean “taking the weekend off” this summer when Saturday mail delivery ends. It will be interesting to see how this impacts the mortgage process, especially refinances with the right of rescission period. Currently with an owner occupied refinance, three business days must pass after signing before the loan can close. Many consider “three postal” days as three business days. This could cost additional time with some rate lock commitments. Stay tuned!

By the way, I do have a couple extra of my newsletters left over – if you would like me to mail one to you, please send me your name and address.  

Of course if you’re interested in residential mortgage for home purchase, refinance or even a reverse mortgage, I’m happy to help you as long as the home is located in Washington state.

Happy Friday!