Archives for May 2010


I'm working on renegotiating a locked rate for one of my clients.  The lender will allow us to do so if it meets specific criteria (price and rate must improve by a certain amount).   If I'm successful in obtaining a lower rate for my clients, I may potentially cause a delay in their transaction due to the Mortgage Disclosure Improvement Act (MDIA).  Most lenders interprets MDIA as any change in APR, for better or worse, of more than 0.125% for a fixed rate mortgage.

So I'm requesting an interest rate improvement of 0.125% because the transaction meets the criteria to do so.  If the lender approves the request, I am required to provide a new Federal Truth in Lending which will disclose the APR lower by 0.126%.  This will trigger a three day waiting period before my client can sign their mortgage papers at closing.  Luckily, the clock starts on the day of delivery (unlike the right of recession waiting period) and includes Saturdays.

Along with the Federal Truth in Lending, I am required to provide a revised Washington State's Loan Application Disclosure Form (no beef from me there) disclosing the change in interest rate.

Isn't it crazy that improving an interest rate for my client could possibly trigger a delay in closing? 

Free Workshop for King County Marine Waterfront and Bluff Property Home Owners

The King Conservation District is holding a series of free workshops for property owners along the marine shorelines and bluffs of King County.    The workshop will provide an opportunity to learn about the ecological, geological and vegetation management issues associated with owning a home located on marine waterfront or a bluff.

Topics will include:

  • Understanding marine near-shore and riparian ecology
  • Recognizing geologic hazards
  • Using native vegetation to reduce erosion and to improve fish and wildlife habitat

Who should attend:

  • Beach property owners interested in a stable natural shoreline
  • Bluff property owners interested in reducing the potential for erosion and landslides
  • Any marine shoreline or bluff property owner interested in improving fish and wildlife habitat.

When and where:

All workshops are from 9:00 am – 12:30 pm (indoor session) and 12:30 – 3:30 pm (optional pre-order boxed lunch $12 and field trip).


  • Kollin Higgins, King County DNRP WLRD
  • Peter Landry, City of Normand Park
  • Elliott Menashe, Greenbelt Consulting
  • Brandy Reed, Conservation District

To register or for more information contact Brandy Reed at 425-282-1924 or