This home is a treat to walk by just south of Alki’s sandy beach. The locals know this as "The Blue Glass House".
This time of year, blue Christmas lights adorn their decked out yard.
Helping Washington State homeowners learn more about their mortgage options.
This home is a treat to walk by just south of Alki’s sandy beach. The locals know this as "The Blue Glass House".
This time of year, blue Christmas lights adorn their decked out yard.
Tis the Season for office holiday parties. Mortgage Master will be closing at 3:00 p.m. tomorrow, Friday, December 21, 2007 to celebrate Christmas and this year being (almost) OVER!
We will re-open for business on Monday, December 24, 2007. As this is Christmas Eve, you can expect a light staff and that we will be closing early (once fundings are complete…so no exact time as of yet).
We will re-open for business on Wednesday, December 26, 2007.
Where is the mistletoe?
You can read the official press release here. This following is from the highlights. I’ve added my opinions (if any) in italic.
The proposal would establish a new category of “higher-priced mortgages” that should include virtually all subprime loans. The proposal would, for these loans:
The proposal would, for these and most other mortgages (prime aka a-paper):
I am not seeing a huge issue with the Fed’s proposal. In fact, as you can see, for the most part, I agree with it…it’s fine!
NOTE: If you bought a home using over-stated income and have an ARM adjusting, you may need to find a co-signer to help you obtain your next mortgage. There will not be many (if any) stated or no-income verified products available for you. This is your government in action.
Dear Mrs. Porter,
Thank you for contacting me to share your views on legislation to address predatory mortgage lending. I appreciate your thoughts on this matter and welcome the opportunity to respond.
As you know, Representative Brad Miller (D-NC) introduced the Mortgage Refomr and Anti-Predatory Lending Act (H.R. 3915) on October 22, 2007, to create a nationwide licensing system for mortgage brokers similar to our existing system of federal banking regulation. I supported this legislation when it came to the House floor for a vote because I am concerned that if predatory lending continues to lead to foreclosures and decimate the market, it might reduce the value of homes across the 8th District and our nation. It is estimated that families not facing foreclosure could see the value of their homes decline by $265 billion because of the ripple effect 2.2 million foreclosures would have in diminishing process of surrounding homes. The measure passed the House by an overwhelming bipartisan vote of 291-127, and has been sent to the Senate for review.
When H.R. 3915 was originally presented to the House, it contained some flawed provisions. That’s why I supported amendments to clarify and narrow its scope to ensure that it targets predatory lenders and does not have unintended consequences for mortgage brokers who responsibly extend credit to homebuyers. I also sought to exempt prime loans from the bill and reduce the potential for frivolous lawsuits and borrowers alike.
Rest assured that I will continue to closely monitor the crisis in our mortgage markets and its impact on our economy. The crisis will require public and private sector effects to help those affected, and I will support measures that provide necessary assistance without sacrificing free market principles.
Once again, thank you for taking the time to get in touch with me. Your interest and input are valued and I hope to hear from you in the future regarding other matters of importance. I encourage you to visit my website and sign up for my monthly e-newsletter at http://www.house.gov/reichert/ to learn more about other issues impacting the 8th Congressional District and our nation.
Sincerely,
David G. Reichert
Member of Congress
Update: Michelle’s obituary and guest book.
Here is a memo from Christine, one of my co-workers at Mortgage Master. She did a wonderful job composing this regarding Michelle Brown’s Memorial on Monday, December 17. Mortgage Master will be open with a light staff on Monday. I will not be working on that day. Please contact my Processor, Dina should you need anything on a transaction in progress.
To The Friends of Michelle Brown~
As most of the you are aware, on the afternoon of December 12th, our dear friend Michelle passed away. Below is information that her family has asked me to pass on.Michelle’s memorial service will be held at the Kent Senior Activity Center at 2:00pm, Monday, December 17th. There will be a celebration of Michelle’s life immediately following the memorial service at Henry’s Switch at Lake Wilderness Golf Course. There will also be an open viewing at Marlatt’s Funeral Home on Monday morning from 9:00 am to 11:00 am.In lieu of flowers, donations may be made in memory of Michelle to Seattle Cancer Care Alliance, or The family of Michelle Brown Memorial Fund. If you would like to send flowers, the family’s preferred flower vendor is Covington Buds & Blooms.As her friend, I know the family would want me to extend their gratitude to each and every one of you for your love, friendship, support and generosity. We have all been truly blessed to have had such a wonderful person touch our lives and live forever in our hearts.Warmest regards,
Christine
Kent Senior Activity Center
600 East Smith Street
Kent, WA 98031
Marlatt’s Funeral Home713 Central Avenue NorthKent, WA
The Family of Michelle Brown Memorial FundExecutor – Dave TredoWashington Mutual Bank – Donations accepted at any branch
The Senate overwhelmingly just passed the FHA Modernization Bill with a 93-1 vote. If enacted, this will bring dramatic changes for FHA insured mortgages including increased loan limits and reduced down payments.
HUD has been chomping at the bit to have FHA become more "modern" for quite some time. In April of 2006, Brian Montgomery Assistant Secretary of Housing stated,
"The bill itself is really very simple, the proposal straightforward. It does just what its name suggests: it modernizes the 72-year-old Federal Housing Administration and restores the agency to its intended place in the mortgage market."
The Senate and House both have different versions of the bill. I’m betting the President will be approving the FHA Modernization Act into law possibly by the end of the year.
FHA has always been a great resource for home owners and home buyers alike. For more information on FHA mortgages, please check out my FHA Resources page.
The Menashe family on Beach Drive in West Seattle creates the largest light display in the neighborhood along with Christmas music playing in the background. I hope their neighbors don’t mind! If you need a little help getting in the holiday spirit, drive on by this home!
These videos were taking with my new Flip recorder on December 1 when we had our first snow. I treated myself to this mini-video camera to celebrate Mortgage Porter’s first birthday. I’m learning I need to "slow down" when I’m taking a video (I may have to stick with still photography).
Rhonda Porter is a Licensed Mortgage Originator MLO121324 living in the greater Seattle area. Rhonda began her career in 1986 in the title and escrow industry and began her mortgage career in 2000. She enjoys helping people understand the mortgage process and started writing The Mortgage Porter in late 2006. Read More…
Copyright © 2023 · Education Child Theme on Genesis Framework · WordPress · Log in
Recent Comments