mortgages: 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)

mortgages: 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)

mortgages: 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)

mortgages: 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)

mortgages: 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)

mortgages: 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)

mortgages: Slow Sales Causing Appraisal Problems. - 04/25/09 07:40 AM
One of my Borrowers Closed on a Refinance Loan yesterday that many of us in this Industry would consider a "Slam Dunk Loan".  This Borrower had Credit Scores in the 800's, ratio's of 15/17, and 60% LTV.  "Slam Dunk" right? Wrong!
This house was located in a neighborhood made up of a small cluster of house that are separated from most of the other residential neighborhoods in town.  The last known sale in this neighborhood was 8 months ago, and nothing comparable to it in near by neighborhoods had sold in a lesser time period.  The Appraiser did an amazing job … (15 comments)

mortgages: Scam Loan Modification E-Mails - 04/20/09 09:25 AM
Loan Modifications must be the new scam in town, because I have been getting three to four e-mails each day, each one from a different sender, but all with the same message.  They all start with the same subject line which contains my address followed by "value drop notice". The message is also the same in everyone:
Dear George:
If you are still residing in your home at "my address" and would like a lower payment, just based on your location you could bring your payment down by as much as 45% through a loan modification working with current MIDDLETOWN home … (14 comments)

mortgages: Connecticut Housing Finance Authority (CHFA) CT Families New Refinance Program. - 04/18/09 07:22 AM

CHFA just rolled out its new CT Families Program which is now self-insured, unlike the previous program that followed FHASecure Guidelines.  This new version of that program might finally make this a viable program for those who are in trouble on their mortgage, because of it being an Adjustable Rate Mortgage (ARM).
The previous program was basically a:
Refinance program for subprime borrowers And it was Insured by FHA. The new programs main differences are:
Refinance program for families experiencing or having experienced hardships Self-insured by CHFA The main thing that still remains common between the two is that only … (4 comments)

mortgages: Mortgage Bailout - 09/08/08 09:22 AM

Most of the country is aware by now of a truly historic event that took place yesterday. Treasury Secretary Paulson and Federal Housing Finance Agency (FHFA) Director Lockhart announced that "FHFA has placed Fannie Mae and Freddie Mac into conservatorship." The government (FHFA) will now be managing Fannie Mae and Freddie Mac for the foreseeable future.
What does this mean:
In order to stabilize and to stimulate the housing and financial markets, the Federal Government is taking the following key steps.
The GSE's will be allowed to increase their mortgage-backed securities (MBS) portfolios through the end of 2009. The Treasury … (36 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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