Archives for November 2014

The 2014 Outstanding Loan Originator is…

November 9, 2014 by 3 Comments

2014-11-07 21.02.42 I am honored, humbled and amazed to be a finalist in three categories at this year’s Business and Humanitarian Awards Gala, which took place on Friday. This annual event is organized by the Washington Association of Mortgage Professionals to recognize Washington real estate professionals (mortgage, real estate brokers, title and escrow) who are the epitome of their profession.

To receive the award for Outstanding Loan Originator was a complete surprise to me, despite being a finalist. I wish I would have prepared something to say when the award was presented. Between the shock, the bright lights and the 200 plus glamorous faces staring up at me, I was almost rendered speechless.

[Read more…]

Filed Under: Events, Seattle Tagged With: ,

Reduced Down Payment Conventional Loans may require Compensating Factors

November 7, 2014 by 1 Comment

Mel_WattMel Watt, Director of the FHFA, has released his prepared remarks for the National Association of Realtors Conference. In his remarks, he addresses the lower down payment options that should be available soon with conforming mortgages and that they will require compensating factors.

[Read more…]

Filed Under: Fannie, Freddie and FHFA, WSHFC Tagged With: , , , , ,

Home Buyers Seminar in Northgate

November 5, 2014 by Leave a Comment

Seattle Home Buyer Classes

I will be teaching a home buyer class in Seattle with Jim Repppond of Coldwell Banker Danforth on Saturday, November 15, 2014 at the Coldwell Banker Danforth’s Seattle office, which is located just south of the Northgate Mall.

The class is sponsored by the Washington State Housing Finance Commission. Students who attend are eligible for programs like Home Advantage or House Key Opportunity (the Washington state bond program) or Freddie Mac Home Possible. Students are also eligible for various down payment assistance programs and MCC (mortgage credit certificates).

If you are considering buying a home with your spouse, partner or friend, they will need to attend the class with you to qualify for the programs.  You do not need to be a first time home buyer to qualify for many of the mortgage programs. And of course, you’re welcome to attend if you’re not interested in down payment assistance programs and you just want to learn more about the home buying process. [Read more…]

Filed Under: Classes for Home Buyers, Education Tagged With: , , , , ,

What May Impact Mortgage Rates this Week: November 3, 2014

November 3, 2014 by 1 Comment

MortgagePorter-JobsReportBlack Knight Financial Services says at least 7.4 million mortgages should refinance, due to where rates are today and looking at borrowers with current notes at 4.5% and above. This may also be a good time to refi into a conventional mortgage if you have an FHA mortgage with a rate in 3% range with expensive FHA mortgage insurance.

Last week the Fed formally wrapped up their aggressive buying of mortgage backed securities (QE) which helped to keep mortgage rates at such a low level over the past couple of years. This was not a surprise to the markets as the Fed had continuously reiterated their plans to end QE in October. Mortgage rates seem to be slowly trending higher.

[Read more…]

Filed Under: Economy, Interest Rates Tagged With: , ,

Why use an FHA Mortgage for your home loan?

November 2, 2014 by 3 Comments

mortgageporter-thinkingEDITORS NOTE 2/3/2015: Since writing this post, HUD has reduced mortgage insurance premiums (yay!) and loan limits have changed. Part of the fun of writing (and reading) a mortgage blog is that guidelines and programs change constantly. Reader beware. 🙂

When Washington state home buyers and home owners request a mortgage rate quote from me, they have many options, including FHA or conventional financing. Over recent years, conventional financing has become a more popular mortgage than FHA, despite FHA’s lower down payment requirements.

What’s not so hot about FHA?

[Read more…]

Filed Under: FHA Tagged With: , ,
« Previous Page