Randy Kirsch's Blog,, NMNLS #1012303 - Your Dedicated Mortgage Consultant, Right Trac Financial Group, Inc. NMLS#2709

In a breaking NEWS ALERT on DSnews.com, it has been announced that President Obama will reduce the annual insurance premiums charged by FHA from 1.35% to 0.85%, which would apply to loans with an LTV of 95% or greater.  There is no indication that loans with an LTV of less than 95% will pay a les...

The State Regulatory Registry ("SRR") has issued proposed changes to the Mortgage Call Reports ("MCRs") that state mortgage licensees are required to file with the National Mortgage Licensing System and Registry ("NMLS") on a quarterly basis.  An announcement was released in the National Mortgage...

As of January 26, 2015, FNMA ("Fannie Mae") will be implementing a new appraisal risk assessment application that will be integrated into the Uniform Collateral Data Portal ("UCDP") that was launched by Fannie Mae and FHLMC in January 2013.The UCDP facilitates the electronic collection of apprais...

The U.S. Department of Environmental Protection ("EPA") has declared January as National Radon Action Month. This has been a tradition with the EPA for a least several years.  Radon gas is tasteless, odorless, invisible, and cause lung cancer.  Radon is caused by a breakdown of uranium in the roc...

A report in RIS Media's Real Estate Magazine (January 2015 edition) indicates that the Department of Energy has enacted new regulations of which real estate professional need to be aware.  The report appears on pages 25-27 of the Real Estate Magazine and relates to air conditioning units and hot ...

In an article dated 12.31.2014, DSnews reported that an online petition has been posted, addressed to the Obama Administration, to end the conservatorship of FNMA and FHLMC.  The petition organizers hope to obtain 100,000 signatures by 01.19.2015. The petition was posted as of 12.20.2014 and has ...

Matthew George suffered water damage to his property when a third party blocked a drainage ditch and water was diverted onto Matthew's property as a result of the blockage.  Matthew, having a homeowner's insurance policy immediately made a claim against the insurance company.  The insurance compa...

An eligible veteran is allowed a maximum basic entitlement of $36,000 from the Veterans Administration that can be applied toward a home purchase.  Most lenders will make a mortgage loan equal to 4X the veteran's available entitlement without a down payment.  Veterans can carry over unused entitl...

The waiting periods following bankruptcy to apply for a mortgage loan from either FHA, USDA/RD, or VA, are somewhat different than those for conventional loans sold to or insured by FNMA.  Yesterday's blog post addressed the waiting periods imposed by FNMA.  An outline of the waiting periods for ...

As George Souto has provided a wealth of information about waiting periods after a short sale or foreclosure to apply for various types of mortgage loans, you need to be aware that there are also waiting periods after going through a bankruptcy.  The guidelines  for waiting periods after bankrupt...