fha: Is FHA The Hero Or The Villain? - 01/03/15 11:17 AM
A recent article in Mortgage Industry Executive Briefing titles "FHA to ban lenders form charging extra interest payments on mortgages" caught my attention, because it was about the elimination of a long standing FHA/HUD standing policy which has cost Borrowers millions of dollars over the life of the policy.  The policy I am referring to is the long standing FHA/HUD policy which charges Borrowers for a full month of interest on a FHA loan at time of payoff even though the Borrower has only had the loan for a portion of the month.  In the article the blame for collecting the unearned … (22 comments)

fha: Refinance To Buy Out Option. - 09/06/10 05:35 AM
There are major property issues when a marriage ends in divorce.  The same is true when two people who are not married purchase a property together and then decide to go their separate ways.  One of the issues that pop up all the time is how to handle the distribution of the equity in the property.  In the case of a divorce most of the time the courts decide on how that is to be handled.  When neither spouse wants to keep the house the course of action is simple, they sell the house and split the equity.  But it is … (21 comments)

fha: Positive signs for Connecticut Housing Market For First Two Quarters Of 2010 - 09/04/10 06:07 AM
There are Positive signs for Connecticut Housing Market For First Two Quarters Of 2010 according to a University of Connecticut School of Business Report.  The University of Connecticut School of Business has released a report for the first two quarter on the Connecticut Housing Market, and they show some positive signs for Connecticut.
The reports states that "Preliminary data for the second quarter of 2010 show that Connecticut single family home prices increased by 2.1%, the first year-over-year increase since 2006, 3rd quarter."  Connecticut also had a 29% increase in the number of transactions in the first quarter, and a 13% … (17 comments)

fha: Happy Labor Day!!! - 09/03/10 02:30 PM
I am looking forward to the loooooooooooong weekend, and just sitting back and relaxing.  I haven't taken much time off this year, so I really look forward to three day weekend to catch up on some rest.  Hope you and you and your family take some time to do the same.
 

 
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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. … (13 comments)

fha: Strategic Defaults Are A Contributor To Guideline Changes - 08/28/10 12:36 PM
I posted a blog yesterday "Strategic Defaults are a big part of the problem" giving my reasons why I feel that Strategic Defaults Are A Contributor To Guideline Changes, and that i would post another blog to point out some of the Guideline changes that have come about because of Foreclosures and Shortsales. I feel very strongly about this issue, because I see firsthand every day the impact that Foreclosures are have on the ability of others to purchase a home, that anything that voluntarily further contributes to that is inexcusable in my opinion.  Strategic Defaults are completely voluntary and a CHOICE … (72 comments)

fha: Strategic Defaults Big Part Of The Problem. - 08/27/10 06:16 AM
Lending guidelines have been tightening and will continue to tighten for the foreseeable future, and Strategic Defaults are a big part of the problem why this is happening.  Before I go any further I want to give my definition of what I understand a Strategic Default to be:
Strategic Default: A foreclosure that results NOT from the Homeowners inability to make his/her mortgage payment, but as a result of the Homeowners CHOICE to not make the mortgage payment, because the property has decreased in value and presently is no longer worth what they paid for it.
This blog is written based … (27 comments)

fha: Make Sure Your Mortgage Loan Officer Is Licensed - 08/11/10 06:38 AM
By the end of this year, all Mortgage Loan Officers and Mortgage Brokers, that work for a Non-Depository Lender, will need to be licensed in every State in order to take a Loan Application and put a Loan in process, so make sure your Mortgage Loan Officer is licensed.   For right now Mortgage Loan Officers for Depository Lenders like Banks, and Credit Unions, are excluded from being required to be licensed, presently all they need to do is be registered under their Lending Institutions License.
Up to now licensing for Mortgage Loan Officers was optional for each State, but under the … (61 comments)

fha: Newest Pre-Approval Letter Myth - 07/20/10 01:26 PM
Lenn Harley wrote a blog on Sunday in which she rightfully questioned the accuracy of what was being stated on another blog about Pre-Approval Letter. The writer of the blog that Lenn was questioning, stated that her Loan Officer had informed her that he would no longer be able to provide her with a Pre-Approval Letter for her Buyers because of restrictions imposed by RESPA. This information was incorrect, Pre-Approval Letters are very much alive and well. But before I go any further let me give three very quick definitions of what I consider a Pre-Qualification Letter, Pre-Approval Letter, and a … (59 comments)

fha: Almost Speechless Sunday - 06/06/10 02:56 PM
Last week I spent Memorial Day Weekend in Washington DC.  I have lots of pictures that I need to take the time to post and share, but this one I felt could not wait.  It is of the Washington DC Cathedral and it is an incredible structure.  Many of you might have seen it or have been to it when in Washington, but for those of you that have not it is truly a must see when in Washington DC.

 
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Info about the author:
George Souto is a Loan Officer who can assist you with all your … (35 comments)

fha: Almost Speechless Sunday - 11/08/09 01:05 PM

 
This is a picture that my brother just took in his back yard in Arizona.  It is almost as if the Hawk was posing for him :)
 
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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
(29 comments)

fha: Foto Friday - 10/30/09 12:27 PM

 
Not often that I get to see an almost full moon while it is still day light.  Who knows maybe we will have a full moon for halloween.
 
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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
(28 comments)

fha: Wordless Wednesday - 08/26/09 07:02 AM

 
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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
(27 comments)

fha: Are We Taking Advantage Of Our Seasons??? - 08/22/09 12:41 PM

The last few days have been really hot sticky humid days here in Connecticut, so I have been having to water the grass and flower more so than usual.  As I was watering the flowers in front of the house I started to notice that they were beginning to show signs that summer is coming to an end and that fall is around the corner.
It is amazing how mother nature knows what time of the season it is, no matter what the weather is like it knows its time.  It knows when it is time to bloom and when … (16 comments)

fha: Second Employment Verification Before Loans Close. - 05/01/09 09:06 AM
Many areas of this great county of ours are facing serious employment issues.  Here in Connecticut the Insurance Capital of the world, we have been particularly hard hit.  Insurance Companies have suffered many losses, and as a result, have had to down size and let many people go.
Because of the many job loses, several of the Lenders/Banks have add one more condition to their Commitment Letters, condition #3 of the Commitment Letter below:
Employment Verification has always been part of the Loan Approval Process, but I have never seen Employment Verifications done a second time until recently.  Most people might … (16 comments)

fha: Fannie Mae & Freddie Mac Appraisal Order Changes. - 04/30/09 06:26 AM
"
Back in March I wrote a blog New Proposed Appraisal Regulations ............ "Home Valuation Code of Conduct" giving every one a heads up on changes to the way Fannie Mae & Freddie Mac Appraisals will be done from tomorrow (May 1, 2009) forward.
Starting tomorrow, May 1, a new code of conduct, the "Home Valuation Code of Conduct" (HVCC) will go into affect for ALL appraisal on Fannie Mae and Freddie Mac Loans.  Anyone with a vested interest in the approval of a mortgage can not have any contact with Appraisers or have any say on who the appraisal will … (91 comments)

fha: Connecticut Pure Maple Syrup!!! - 04/29/09 02:32 AM
That is right you read the title correctly.  Most people, especially here on the East Coast think of Vermont when the subject of Pure Natural Maple Syrup comes up.  But Vermont is not the only State in New England that produces Pure Natural Maple Syrup, Connecticut does as well.  And the best Connecticut Maple Syrup, in my opinion, is produced by my neighbors, the Graves Family. located on Chancey Road in Middletown.
They do not produce it in large amounts, and it is only sold at a Stand located on their farm, but it sure is good. I missed taking pictures … (9 comments)

fha: PMI Changes Making FHA and VA Much More Go To Loan Products. - 04/27/09 01:37 PM
MI Companies are notorious these days for making changes without any advance notification.  The latest change that we are seeing is that MI Companies have lowered the back end ratio, especially on loans with a 95 LTV to 41%.  Also if the area happens to be one that is being classified as a declining area, the lowest LTV that they will issue MI on is 90%.
I don't know if EVERY MI Company has made this change, but the four major ones that issue MI here in Connecticut have adopted these changes.  These latest changes further make FHA and VA Insured … (14 comments)

fha: Wordless Sunday - 04/26/09 06:48 AM

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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
(34 comments)

fha: Social Networking Workshop. - 04/23/09 07:08 AM
I wrote a blog at the end of last month Social Networking Workshop informing those within driving distance of Middletown, Connecticut, about a Social Networking Workshop/Presentation, at the Middlesex Chamber of Commerce, on how we can more effectively use Social Networking Websites. The workshop was presented by one of our members Diana Bartolotta, who after listening to her is not only very knowledgeable about what she presented, but a Social Networking junkie to boot.
Diane concentrated mainly on Linkedin and Facebook, but also briefly touched on Twitter.  I of course brought up ActiveRain and Diane stated that she would most likely … (21 comments)

fha: Happy Earth Day!!! - 04/22/09 08:09 AM

Click Here to See How McCue Mortgage has gone Green
 
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Info about the author:
George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com
(10 comments)

 
George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages)

George Souto

Your Connecticut Mortgage Expert

Middletown, CT

More about me…

George Souto NMLS #65149 FHA, CHFA, VA Mortgages

Address: One Liberty Sq., PO Box 1000, New Britain, Ct, 06050

Office: (860) 573-1308

Mobile: (860) 573-1308



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