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Mortgage and Lending - D A Griffin Financial.LLC - NMLS 6380
RECENT BLOG POSTS
MORE REGULATION MEANS HIGHER COSTS TO ALL CONSUMERS PART THREE In another installment of how more regulation means higher costs to ALL consumers, today I am focusing on LPMI or "lender paid mortgage insurance". A by product of the qualified mortgage, LPMI is mortgage insurance that is priced into...
02/11/2014
SHOULD A PLUMBER CHARGE EVERYONE THE SAME?   I recently had a couple of small plumbing problems so I decided to call a well known plumber in the area. I called them because they do have a good reputation. I was not disappointed in the service from their employee of 20 years. After all the problem...
02/06/2014
MORE REGULATION MEANS HIGHER COSTS TO ALL CONSUMERS PART TWO Thinking about the ways regulations have caused costs to escalate over the last few years for a home buyer I saw a blog about AMC's (appraisal management companies) stating what is obvious to most in the lending business. That appraisal...
01/30/2014
MORE REGULATION MEANS HIGHER COSTS TO ALL CONSUMERS PART ONE Effective this month is the Qualified Mortgage rule. One part of this rule is that certain costs cannot exceed 3% of the loan amount. CFPB determined 3% was the magic number to be sure consumers were not being taken advantage of. Unfort...
01/30/2014
  IS 43% DTI THE MAXIMUM FOR A QUALIFED MORTGAGE   We see continued changes in the mortgage lending world and with welcoming a new year in January 2014 we welcome the qualified/non qualified mortgage issue. There has been much written and much hand wringing over what constitutes a qualified mortg...
01/15/2014
WHAT IS A MORTGAGE BROKER? What is a mortgage broker and how can I know I want to work with one? If you are in the market for home financing, you may want to explore this.  A mortgage broker is a company not affiliated with one particular lender or bank.   A mortgage broker can have several lende...
01/14/2014
WHEN LENDER PAID MORTGAGEMORTAGE INSURANCE IS THE ONLY OPTION   There is no doubt the housing market is improving. It is a very different market than prior recoveries however. With past recoveries we were dealing with demand and supply issues, but this one has a lot of twists besides those two th...
12/19/2013
DO YOU THINK CLOSING COSTS ARE ONLY  $250.00?   I often see a lender's sign either display  "$250 CLOSING COSTS" or "LOW CLOSING COSTS". They get a fair share of business because of this. It benefits them if this is all a home buyer hears. ARE YOU READY FOR SOME FACTS?   FACT:  MOST LENDERS CAN O...
08/14/2013
  WHEN THE REAL ESTATE AGENT STOPS TALKING   So I find myself today pondering why the Real Estate Agent stopped talking. I have a transaction for purchase of a bank owned property. The buyer was pre qualified and I had been working with her for over six months to be sure she was ready. Then she w...
07/30/2013
STOP PLAYING WITH YOUR MONEY!!!!! Some days I just want to shout at borrowers PLEASE STOP PLAYING WITH YOUR MONEY! As most seasoned loan originators I go to great length at the beginning of a loan process to collect bank statements and reinforce how important documenting transfers and deposits of...
07/17/2013
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