Angelo 's Blog

Follow me
Mortgage and Lending - First Centennial Mortgage - NMLS # 132763
Why overpay for a home by overpaying for a mortgage? My role as a loan officer is to put education at the top of the list for homebuyers & prepare them to get the most value. In 2008 I was awared the NAMP Integrity Seal (ethics & professional commitment to consumers), also received CRMS & CMC designations. Less than 1/2% of all loan officers have achieved these levels of recognition.
I believe Mark Twain said you can't fool everyone all of the time.  Too bad those in Congress do not read famous quotes.  Rumor has it that they are again visiting the notion of mortgage foregiveness.  While the details have not surfaced, I suspect that they will try to sell this as a way to help...
State of the Union - "we want to help homeowner's refinance to a lower rate".  Reality says - If you have a FHA loan, don't hold your breath. Because the new payment ( P & I + monthly mortgage insurance) must be at least 5% lower than the current payment, someone that would otherwise qualify for ...
State of Union - if last night's $3000 promise to homeowners works like last fall's promise for easier HARP refinancing guidelines (which we are still waiting for),, my advice is don't spend it until the check clears. As for 18 yr olds being forced to stay in High School, does this mean that "hea...
Today's release of the Federal Housing Finance Agency News Release suggests that more borrowers will have the opportunity to lower their interest rate without concern for home values.  The reuqirements include: 1) the loan is currently held by either FNMA or Freddie Mac and was purchased by them ...
Realtor calls and asks me to meet with potiential client. - OK  Client wants to keep his current condo, rent it out and buy a larger condo for his growing family. - OK Wife doesn't claim her waitress income. - Oops Not much in savings. - Oops Just qualify FHA is everything falls just right. - OK ...
It has been said that a smart man knows what he doesn't know.  Too bad each day brings more proof that yesterday I was not as smart as I thought I was.   Last night I attended a LinkedIn presentation in Park Ridge, IL by Kym Raya of and found that there is a lot more I did no...
Treasury punishes top servicers for failing troubled homeowners On June 6,  Tami Luhby of CNNMoney posted an article that announced that the US Treasury Department is withholding incentive payments to Bank of America, JP Morgan Chase, and Wells Fargo because they are not processing Mortgage Loan ...
Jumbo 30 year fixed rates are now in the low 5% area while Jumbo 7/1 & 5/1 rates are around 4%.  The recent increase in mortgage rates for conforming loans (up to $417,000 in the Chicago area) has closed the gap between Jumbo and conforming fixed rates to 1/2% or less.  For so many that have been...
Today's news shows is another example of the FED being "out of touch" with the real world.  By Dave Clarke  WASHINGTON (Reuters) - Lenders would be required to make sure prospective borrowers have the ability to repay their mortgages before giving them a loan, under a proposal released by the Fed...
Underwriting nightmare for April 2011 Futures trader reports income over $500,000/year for 2008, 2009, and 2010.  Underwriter's calculation shows $200/month. Explanation is that underwriting guidelines believe that Schedule D Gains and Losses result from asset sales for more or less than cost.  W...


CRMS, CMC, Mortgage Specialist NMLS # 207204
local_phone(847) 592-2977
smartphone(847) 209-9458
Contact The Author
Why overpay for a home by overpaying for a mortgage? We put education at the top of the list for homebuyers & prepare them to get the right mortgage the first time and every time. Check our website at for helpful information