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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
    On January 25, the National Mortgage Licensing System and Registry (NMLS) will be online and available to the public.  Realtors and buyers alike will be able to easily find critical information about loan officers.  Because implementation dates vary by jurisdiction, not all loan officers will...
01/17/2010
Recently, I wrote an article outlining the financial benefits of purchasing with today's low rates and tax incentives.  Since then, I've had a guilt complex because there's another combination of market factors that have been haunting me.  I don't see how home values aren't going to experience a ...
01/16/2010
I was updating my FeedBurner for OriginatorDigest.com and, as usual, I was looking for Bob Tedeschi’s weekly New York Times article as they’re usually fantastic and I’m an avid fan. His article Rethinking Vacation Homes comes so close to addressing the most important issues regarding 2nd home fin...
01/09/2010
Lenders have always had a preferred order of recourse on loans headed in the wrong direction.  In the last few years, they've been so understaffed in their loss mitigation departments that they haven't been able to efficiently determine their best course let along execute it.  Lately it seems, th...
01/07/2010
Clearly, many if not most short sales involve a loan presently in default. As well, many times a short sale might involve a current borrower who can currently afford the payment. In several other situations, a seller may be “just hanging on” and the smallest thing could put them irreparably behin...
01/07/2010
There seems to be some justifiable cynicism about whether or not lenders will fully adopt FHA's guideline change allowing sellers who are current on their mortgage and other installment debts at the time of the short sale (and where the proceeds from the short sale serve as payment in full) to pu...
01/06/2010
Ever since the first version of the first time home buyer tax credit, home buyers have been eager to engage but uncertain about home values and for some, this has caused them to sit on the sidelines.  I am not writing to suggest that this consideration is good or bad cause for not taking advantag...
01/04/2010
Loan Guidelines for Clients with Previous Short Sales: Freddie Mac requires, “Evidence on the credit report and other credit documentation that the Borrower has reestablished an acceptable credit reputation for at least the most recent 24 months after the discharge or dismissal of a bankruptcy, s...
01/01/2010
  There's a lot of gossip about what might and might not happen with changes to FHA in 2010 and I wanted to put out a cheat sheet. Premium Changes - rumored Currently 1.75% maximum but could go to 3% - This won’t have a huge impact but in situations where the choice between conventional and FHA i...
01/01/2010
  For all loans this year where the borrower has ANY kind of self employed income feature, they will have extra steps to go through in 2010. This means that even if they have a very passive business or a rental property or anything like that, they’ll be put through the Spanish Inquisition of inco...
01/01/2010
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Charles Dailey

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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.