Ed Brophy's Mortgage Update

Mortgage and Lending - Ed Brophy, REALTOR®
A place to learn about mortgages, interest rates, credit and ask the guestions you've been wondering about.
Most American home builders don't need new problems at the moment, but they just got one: Federal regulators confirmed last week that they are aggressively investigating allegations that builders around the country are pressuring or requiring purchasers to use their mortgage financing affiliates ...
It's a new year and I thought it important to review RESPA.  I have numerous clients and Realtors ask me what type of referral fee I offer - In the spirit of RESPA I have to say none.  In response I always get the name and company of the Realtor or Mortgage Originator that's offering a kickback, ...
That's right Cher is selling a home she's been renovating in the Old Las Palmas area of Palm Springs.Features:Style: SpanishSquare Feet: 4,000Lot Size: 15,246 sq. ft.Pool: YesSpa: YesBedrooms: 4Bathrooms: 4.5Furnished: NoExposure: SouthYear Built: 1938 Envision old Spanish charm impeccably perfec...
Knowing the Guidelines Solves the MysteryThe appraisal process often baffles consumers and Realtors alike. They may feel the home is worth a higher dollar amount, and the appraised value doesn't always make sense to them. It is important to know that appraisal guidelines are dictated by the lende...
A good credit score translates into lower interest rates for home-shopping borrowers. In a mortgage lender's eyes, the higher your score is, the less risk you are, and the more likely it is you will pay off your debt. For this reason, borrowers with lower scores usually end up paying higher inter...
Take Control of the LeadThe Law of The Gate Keeper states: The business professional that refers out the most business will create the most reciprocal referral relationships in return. Translation: The business professional who controls the lead WINS!Regardless of your vocation, there will always...
Communication Is KeyThis is Part II in our series of networking tips based upon the wisdom of Dr. Ivan Misner, the founder and CEO of the world's largest referral organization, Business Network Int'l., and best-selling author and expert on the subject of networking.Previously, we examined Dr. Mis...
Reaching Out To Your CommunityThe best way to increase your business is by mastering the art of networking.  Nobody understands this concept better than Dr. Ivan Misner, the founder of Business Network Int'l. (BNI), the world's largest referral organization. BNI has over 4,100 chapters with 82,00...
A new law that took effect January 1, 2007 may be of interest to those of you who own residential rental property. California Civil Code Section 1946.1 increases to 60 days the amount of notice a landlord must provide to terminate certain leases. To terminate a month-to-month tenancy or other per...
When shopping for a mortgage the first sentence out of the mouths of my clients is "I don't want to pay points!"  Points are a dirty word in my business but, they're not the evil many people believe them to be, in fact they're no different than the commission you pay a Realtor to sell your home. ...

Ed Brophy

Realtor - DRE #01344385
local_phone(760) 844-3736
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A place to learn about mortgages, interest rates, credit and ask the guestions you've been wondering about.

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