Mortgage Update

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Mortgage and Lending - LX Financial LLC
Mortgage Update - Mortgage financing news and topics, and meaningful advice for real estate professionals and consumers.
RECENT BLOG POSTS
Fannie/Freddie are considering mortgage write-downsIn these so-called principal write-downs, a portion of the loan is forgiven for someone who's having trouble paying. Many Democrats like it, Republicans do not. More info   Rates upThe 30yr fixed rate mortgage averaged 4.08 percent for the week c...
03/27/2012
I have an awesome free app to calculate mortgage payments for your smart phone. It gives you the total payments (including MI) for FHA and Conventional. It is really easy to use and free. To get yours go here from your smartphone You can also search for: LenderApp Activation code: mMMLS
03/10/2012
You are not going to like this! Fannie Mae Loan Level Price Adjustments (LLPAs) just went up again, March 1st  (See below) /// FHA mortgage insurance premiums are going up April 1st. ///  In the next issue, a summary of the stipulations for converting a property from owner-occupied to non-owner o...
03/02/2012
REO InvestmentsNobody knows when real estate markets will rebound, but many people are looking to invest. The best opportunities are foreclosures and short sales.  Banks own these properties but don’t want to lend money for buyers to take them off the banks hands.  These are called "REO" properti...
02/28/2012
  Portfolio loans can be a powerful alternative to many common lending restrictions of the mainstream - Fannie Mae, Freddie Mac, FHA type programs. Because portfolio loans are retained by the lender and are not sold in the secondary market, lenders make their own, common-sense rules, specifically...
01/27/2012
Program Rules - Lender Rules- Underwriting - are the 3 levels of lending criteria that culminate into a loan approval. Mortgage financing is a key element of the purchase process, so it pays to understand the process. A synopsis below.... /// In the next issue, a summary of the current benefits o...
01/25/2012
There are important practical differences between a Mortgage Lender, Mortgage Banker, and a Mortgage Broker. Mortgage financing is a key element of the purchase process, so it pays to understand the options.  It is particularly good to understand the mortgage banking concept, which allows you to ...
01/23/2012
We are still faced with the best real estate opportunities of a lifetime. As sad as it is to say, the economic malaise continues to serve us very well. My investment group is interested in funding  highly profitable (fix and) flip projects - up to 100% of hard cost.   INVESTMENT CRITERIA Our inve...
01/15/2012
Fed will publish short-term rate projectionsThe Federal Reserve will now tell the public its expectations for short-term interest rates, starting after its Jan. 24-25 meeting. I find this odd, and here is why...   >>Reliability. If market realities change, the Fed may need to adjust rates. That i...
01/13/2012
We are still faced with the best real estate opportunities of a lifetime - and amazingly there are even getting better! As sad as it is to say, the economic malaise continues to serve us very well.   FOCUS ON RENTAL VIABILITY  Because resale markets remained weak (and rental markets strong) durin...
01/05/2012
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Paul Luykx

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Mortgage financing news and topics, and meaningful advice for real estate professionals and consumers.