What's happening?

Payroll Tax Cut Extension, UPDATE:                 I wrote about why you should care about the impending payroll tax cut extension legislation coming down the pike a couple weeks ago, refresh your memory here.  The payroll tax cut extension has passed and guess what, if you own a home then you ma...

Now that the fantasy football season is over for me I can get back to real work and focus on exciting things like guarantee fees and monetary policy.  How’s that for a hook?  If you’re still reading I’d like to point your attention to a matter that will affect you if you’re looking into refinanci...

Why aren’t more people refinancing existing FHA loans? I read a recent story on nationalmortgagenews.com written by Brian Collins that speaks about the lack of existing FHA mortgagors refinancing into today’s current low interest rates.  His article states that at this time last year mortgage int...

What does fiduciary mean to you? The dictionary defines it this way, Main Entry: fi·du·cia·ry  Pronunciation: [fi-doo-shee-er-ee, -dyoo-] Function: noun  Inflected Form: plural -ries  :  one often in a position of authority who obligates himself orherself to act on behalf of another (as in managi...

What is mortgage insurance? A common question I get from borrowers is, “What is mortgage insurance, and why do I need it?”  The easy answer is that mortgage insurance is an insurance policy that the lender forces you to buy that protects them from losses on the mortgage note should your loan go i...

What’s a BPO, and why is it used? Common questions I receive as a real estate broker surround short sales, and more specifically, the steps taken to complete the short sale process.  A BPO is a very important step in the short sale process because it gives the lender an idea as to whether the off...

It is very important to set realistic expectations for your clients. There’s a saying, “You know what you know, you know what you don’t know, and you don’t know what you don’t know.”  It’s basic really, I know that I know how to ride a motorcycle, I also know that I don’t know how to fly an airpl...

What's the highest credit score needed for mortgage financing? Your credit score is important when shopping for mortgage rates, but is there a difference between a 740 FICO and the highest possible FICO of 850?  I’ve literally pulled over a thousand credit reports for clients over the years and h...

I just finished a very good book by a very good writer Michael Lewis, he doesn’t do twitter or I’d hook you up with a link.  The book I’m speaking about is The Big Short.  I first got into Michael Lewis when I read his book Moneyball.  I’m a San Francisco Bay Area native and Moneyball was written...