Darren Stewart's (darrenstewart) Blog

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Services for Real Estate Pros - Mortgage Investment Services Corporation
RECENT BLOG POSTS
This year has been a record year for USDA Rural development guarantee loan program with the tax credit earlier this  year the demand for the product out paced what the US Government had budgeted for the program and in May there was a shortage of funds experienced.   Many banks are not doing the p...
06/04/2010
Missouri Housing Development Commission announced new rates for the First time Home buyers mortgage Cash assistance loan - its a bond loan program that allows 3% of the loan amount be given to the first time home buyer for down payment and closing costs.   Current rates are at 5.40, with 3% cash ...
05/19/2010
I wanted to revisit the bond money program again because of the current market situation and the fact that we may be needing to find a plan B for some USDA loan requests.  If you have not heard USDA may or may not be running out of funds in April currently they are scheduled to deplete the fundin...
03/28/2010
I wanted to take a moment and thank my business partners for trusting me with their clients and the business, March is roaring like a lion and April looks like it is surpassing those numbers, despite what I thought was going to happen this is all not due to the tax credit I have a good mix of fir...
03/27/2010
VA Loans are one of the best loans that are availalbe right now if you are eligible, if you are on active duty or served in the military in the past make sure you take a look at VA.gov for all of the benefits that are available to you. Do you have a certificate of eligibility from VA?   Make sure...
03/24/2010
In 1988 I got my first banking job, pretty simple starting out in the mail room and all of the hustle and bustle was done upstairs above me while I made sure bank statements went out- working through school and working my way through the ranks I joined different departments and in 1997 their was ...
03/20/2010
The word change has been the topic in many of my blogs for 2009 and it looks like that trend may be continuing in 2010.  We definitely have been seeing changes in the market, in underwriting, interpretation of guidelines and then other rules as investors tighten a few things.  Having the ability ...
03/20/2010
We have lenders that are going to adhere to Hud's announcement of waving the 90 day flipping rule, we are able to finance those houses on FHA terms now without waiting for 90 days before a contract can be written. There still may be some extra requirements depending on the lender that the loan is...
02/08/2010
While HUD has announced that they are indeed waiving the 90 day flipping rule for financing, industry lenders have  yet to decide if they will follow that with providing financing on those homes or enforce the old guideline - most are still trying to figure out which way to go on this so while it...
01/25/2010
Bill Ladewig - had a great article on the flip rule being lifted for FHA loans - this has the potential to assist some investors flip houses at a reduced expense by not having to require them held for 90 days to be eligible for FHA financing.  I wanted to make sure we knew about this in our area....
01/21/2010
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Darren Stewart

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