Sanctuary Lending: The Blog

Argent just closed their subprime division.That's three in one week, gang.  And that's only the ones I know of.  I'm sure other broker know of more.And today I actually was offended by one lender.I had an inquiry into their office and we were going through the subtle details when she asks, "What ...

I recently suffered what may be the most embarrassing injury in the history of mankind. Even more embarrassing than the one where you step on the rake that you left in the yard, the handle swings up and nails you just under the eye and you have to tell everyone you were picking up a pen you dropp...

If you have a few moments, follow this link.http://www.bankrate.com/brm/news/mortgages/20061214_deduct_mortgage_insurance_a1.aspBut if you have even less time, here is a quick summary:In cases where a borrower has less than 20% down, a (fee) of Mortgage Insurance can be applied to the loan.Incide...

While the heading is Doom and Gloom, my point is simple; we are all going to have to work harder this summer than we have in the past. Maybe ever, but I don't know where you grew up. :)   Today alone, in the state of Florida the most recent scuttlebutt is the unemployment line is going to be ful...

This was taken from Inman News. Fannie Mae has sued its former outside auditor, KPMG LLP, alleging the firm's "professional negligence" forced the government-sponsored mortgage repurchaser to undertake one of the largest accounting restatements in history. And a few years ago Enron sued Arthur An...

This is just something I've been wondering about for awhile.And if anyone knows the answer to this question it would save me some research time.Anyone want to create a Real Estate / Mortgage Company in Second Life?I have no idea what that would entail, but I've read some interesting stories on ho...

Countrywide Financial Corp. funded $37.8 billion in mortgage loans in November, an 11 percent decline from the same month last year and 8 percent less than last month.At $3.2 billion, Countrywide's pay-option loan production was down nearly 60 percent for the month, and year-to-date pay-option fu...

Okay, no shuttle launch.Back to work.  :)

On the outside, many would say the fact that two Sub Prime Lenders have closed their doors in no big deal.It happens all the time.Well, not all the time.Ownit Mortgage Solutions and Sebring Capital have closed their doors.  Without going into how many jobs are lost and a pointless dissertation on...

The Zillow site just came up online (it's 2:45am EST) and it is VERY easy to use.Almost fool-proof (but I won't say that).Now, I wonder how much it costs to advertise there :)Whatever it is, I'm sure the rates will be going up in few hours.  :) Enjoy,