Originator Digest

Follow me
By
Mortgage and Lending - iLoan - NMLS ID#4474 - NMLS 79048
A place that borrowers can come to learn more than the basics of mortgage lending. It's also a place where industry professionals can come to find content for their clients.
RECENT BLOG POSTS
In my home state of Minnesota, Minneapolis and Saint Paul have nearly 39 percent of homeowners under water.   I've had the question, "I'm upside down on my home, what are my options?" so many times that I wanted to prepare a menu of options for people to reference.  This article briefly outlines ...
04/03/2010
In an announcement on February 25th, Freddie Mac announced that as of September 1, they will cease purchasing and securitizing interest only mortgages. We can expect that lenders will take Freddie Mac’s Interest First product line off the market far sooner than that.  It is also a reasonable con...
02/28/2010
In October of 2008, HUD rolled out their reverse mortgage product and in March of 2009, they perfected it.  With rates expected to rise and the tax credit setto expire, many real estate professionals are looking for new and under-served markets to reach out to.  Since HUD has perfected their reve...
02/27/2010
If you’re a FHA buyer shopping for a condo, you’d better pre-qualify your lender first. If you’re listing a condo and a buyer gives you a FHA pre-approval letter, you’d better pre-approve that lender first. Because Spot Approvals are a thing of the past, it’s important to know which of the two re...
02/20/2010
  I'm a little surprised that this hasn't caused more commotion in the real estate community in the US.  Isn't it a little naive to think that if this succeeds up there, it won't be long before it happens in the US?  I don't personally see how that wouldn't happen.  Am I alone in this?   Consumer...
02/11/2010
I’m writing in opposition to two of the eight recently proposed changes by the Department of Housing and Urban Development on their single family insurance programs.  While most of the proposed changes will bolster the financial well being of the FHA, these two changes are misguided in their des...
02/08/2010
Most know that under the Worker, Homeownership and Business Assistance Act, a one-time extension of the credit for homes purchased or under contract by April 30, 2010 was passed and a credit of up to $8,000 will apply to qualifying first-time buyers, and a smaller credit of up $6,500 will now app...
01/22/2010
On June 26th of 2009, Fannie Mae announced that itwould be amending the uniform residential loan application to accommodate data collection and tracking not just of mortgage companies but of individual loan officers as well. Today, Fannie announced what those changes will be and what this new li...
01/21/2010
In today’s press release from HUD, “FHA ANNOUNCES POLICY CHANGES TO ADDRESS RISK AND STRENGTHEN FINANCES,” FHA policy changes, additional desired changes and reasoning for the changes are announced in detail. The material changes are already becoming well known but the potential changes along wit...
01/20/2010
I'm re-posting this announcement from David Stevens, the assistant secretary for housing and FHA commissioner, because while there's been a lot of press covering what FHA changes have been announced and what their potential consequences will be, his announcement does a quality job of explaining w...
01/20/2010
Rainer
127,712

Charles Dailey

local_phone(612) 234-7283
smartphone(651) 428-6968
Contact The Author
A place that borrowers can come to learn more than the basics of mortgage lending. It's also a place where industry professionals can come to find content for their clients.