Oergon Lending Resources

FHA Responds To Declining Markets   This update from Mortgagee Letter 2009-09 establishes appraisal requirements for declining markets.   Here are the 10 things your appraiser must do or provide for all FHA appraisals done after April 1st, 2009:   1. The Market Conditions Addendum (Fannie Form 10...

Good morning! I hope that you had a great weekend! This week has started off well in the markets, which hopefully will hold for a bit. I wanted to share some encouraging news and other bits of info. First off, it looks like we may see some action by both the FASB and the SEC to deal with "Mark-to...

Copied below are some commentaries that I have gathered from a few of my sources this week -   MMG Update - Friday, February 20, 2009 9:55am ET Risks favor:  Bias towards Locking   Mortgage Bonds are trading higher, as Stocks remain under selling pressure.  And yesterday, the Dow fell to a six ye...

Inside Story: False Illusions and What You Need to Know   Last Updated February 4, 2009 The Fed's been at it again, offering words that sound encouraging at first blush, confirming that their buying program of Mortgage Backed Securities is in full swing and will continue as needed. Of course, the...

I've got good news and bad news...which do you want first? OK - here's the good news. Interest rates are at historic lows, making it possible for many homeowners to refinance and improve their financial position - and combined with homes listed currently at bargain prices, those who are in the ma...

         Last week was eventful and this week has a few "market movers" in store for us.  This week we'll see Retail Sales numbers as well as CPI.  Both of these will give the market some insight as to the current direction of the economy. The consensus is that we are still in a strong decline, e...

Four Critical Questions to Ask Mortgage Representatives!   According to industry statistics, over 50% of the loan originators in the business today have been in the industry for 3 year or less.  Because of this, you must make sure that you are working with experienced, professional loan officers....

Hey there--        Well, this week has been a busy one:  I was a victim to that dang Stomach Flu BUG!  And it's been really busy in the markets.  Over the last few days the stock market has lost over 600 points.  The initial jobless claims that hit the market today was much worse than expected at...

Introducing the GRANT/CLEVELAND COMMUNITY SKI AND SNOWBOARD SWAP   Since skiing and snowboarding both require specialized equipment and clothing, the Grant and Cleveland High Ski Racing Teams are hosting our fourth annual event - the GRANT/CLEVELAND COMMUNITY SKI AND SNOWBOARD SWAP.   Individuals...

Good day! So, this morning, the jobs report was released.....and it was stinker. In fact, it was the worst report in 14 years. To "add salt to the wound", the numbers for August & September were revised downwards by large amounts. In total, nearly 1.2 million jobs have been lost since the beginni...