Mike Berrios's (mberrios) Blog

Treasury and mortgage pricing improved this morning as unemployment claims increased to 455,000, representing the highest amount since 2002.   Stock market is being impacted by the largest insurer, AIG, reporting another loss 5.6 billion dollars.  So 30 year fixed rates are currently better this ...

  Fannie Mae announced a new risk-based pricing model and additional mortgage delivery fees this week, adding to the cost of buying or refinancing a home. Risk-based pricing was first introduced by Fannie Mae this past April. It added new, mandatory loan fees for high-risk borrowers while rewardi...

  Conforming mortgage guidelines are the Home Loan Rule Book, delineating between applicants that approved for a mortgage and those that do not. Effective today, the rule book just got a little bit tougher. According to Fannie Mae, homeowners converting their primary residence into a second home ...

   Navigating the Turbulent Mortgage Marketplace   What exactly is the problem today with banks, financial institutions and the financial markets?     Problem #1 - Over-Leverage   During the last several years, financial institutions borrowed more money to engage in their business activities tha...

Experts in the direct sales industry are calling Foreclosure Prevention Services the next niche marketing phenomenon    We are building our organization nationwide, in search of quality professionals that are serious about helping people save their homes from foreclosure while generating a lucrat...

The link below will provide you more specifics about the bailout provisions for existing homeowners.  It details highlights about the refinancing process for a potential borrower.  Again we are unsure how many of these loans you can do as it requires the existing servicer to allow the short refin...

So much for the possibility of better pricing today.  Mortgages have been spanked this morning by an extremely positive Durable Goods order for the month of June for demand of metals, machinery, electrical equipment, and military needs. The 10 year yield is currently at 4.05% and the 30 year fixe...

Freddie Mac's SEC Filing : The 2 Sentences That Matter In A 1,394-Page Document   Sometimes, the hardest part about news is knowing where to find it. In its filing with the SEC last week, Freddie Mac stated that it will "pursue increases" to its middleman fee.  This would likely make mortgages mo...

Our mortgage pricing continues to be battered with concerns about inflation and the impending legislation to support Fannie Mae and Freddie Mac.  A CNBC news reporter this morning held up a sign on the trading floor and said the names should be changed to "Freddie Pae".  Since we - the American T...

The proposed program will help thousands of California Home Owners.  The program is still in the finalization stages.  The Down Payment Assistance Program is a fast, easy way to provide buyers with the 20% required to purchase a home. The Program offers No Cost, No Interest, No Payment loans for ...