Nicky Chambless's (nickyatuhmc) Blog

The 4506T is what the Lender uses to confirm what was actually Filed with the IRS. Why do Lenders have it signed by borrowers? 1) Borrowers can provide a copy of their 1040's or 1120's to a Lender that was prepared by a CPA or any tax prep company and never even file that return. That return may ...

With all of the comeptition in this very competitive market, there are several GREAT reasons that United Home Mortgage Center's Loan Professionals are at the top of your list. Our loan professionals are available by phone and email with little restrictions as to when the they can be reached. We a...

What is the Yield Spread Premium? If your loan officer is receiving a yield spread premium (YSP), a commission paid directly by the lender to your representative, this fee will be disclosed on your settlement statement at closing. YSPs are a controversial matter because: •Lenders say if borrowers...

1.Bank account numbers (savings and checking), stock account numbers, balances, and addresses of all financial institutions you normally deal with; 2.Addresses for the past 2 to 10 years of residence, including the dates occupied and the names and addresses of previous landlords; 3.Employment his...

Tough times in the housing and credit market sectors were brought to the forefront again this morning when Freddie Mac reported second quarter earnings losses that were over three times higher than analyst expectations. Freddie lost $1.63/share vs. a consensus forecast of a loss of $0.53/share du...

The housing bill that the House of Representatives passed this week and that the Senate is expected to approve today could help. The bill is designed to help an estimated 400,000 homeowners escape foreclosure by letting them refinance into more affordable loans backed by the Federal Housing Admin...

For the second month in a row, California and Florida cities accounted for nine out of the top 10 metropolitan foreclosure rates among the 230 The Fort Myers metro area in Florida registered the second highest metro foreclosure rate in May, with one in every 79 households receiving a foreclosure ...

Freddie Mac is accelerating its efforts to lower foreclosures. The Virginia based mortgage great announced Thursday it is doubling the incentive it pays to mortgage servicers for keeping troubled borrowers out of foreclosure. Freddie Mac will also; (1)reimburse servicers for the cost of door-to-d...

I have been recruiting Mortgage Brokers with United Home Mortgage Center for over 3 years now. As the market changes I have begun to see far more qualified Mortgage Professionals applying to represent our company. Most representatives left in the field today are in it for the long haul and are fu...