Mortgage / Finance

Anybody that's hung around the ActiveRain “water cooler” for any length of time understands the value of the relationships built on the site. AR is so much more than a social networking site, however.


It's also the place to get up-to-the-minute information on topics that affect your clients. Ask yourself: what's the most confusing aspect of buying a home for the real estate consumer? The answer is most likely financing the purchase. Credit scores and how they affect the mortgage rate, types of loan products, points, fees – whew! -- there's a lot to know about mortgages.


To serve your clients effectively you need to know about this stuff and keep abreast of changes in the mortgage industry. Thankfully, ActiveRain is not only popular with real estate agents and brokers but with finance professionals as well.


Whether you're an agent trying to figure out what the Fed's latest move means to your clients or a mortgage pro who needs input on how to build relationships with real estate agents, ActiveRain is the place to tap into a wealth of knowledge.

Trending blogs on Mortgage / Finance
By ValuePenguin By LendingTree
(LendingTree)
Owning a home is a classic element of the American dream, but with an average median home price of $241,300 in 2019, such a purchase may feel out of reach. However, leveraging auto-saving methods can help you build up your savings before you know it, giving you the down payment you’ll need to buy that dream home. How to use auto saving to your advantageAutomatic-savings methods allow you to direct money to your savings account before it ever hits your wallet. Without the spending temptations that may strike before you move the money, you could accumulate much-needed cash long before you expected. Save for a down paymentMinimum down payment requirements vary based on the different loan options available, as well as the individual buyer’s financial standing. For example, a Federal Housing...
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By Mike Bjork
(Evolve Bank & Trust)
http://MikesDailyMarketReport.com: The Case Shiller HPI showed a slowdown in National Home Prices in May, as it dropped from 4.6% YoY Appreciation in April to 4.5%. I'm confident this will rise, as we head into summer. Consumer Confidence dropped from 98.3 in June to 92.6 in July, as several states increase further lockdowns. Confidence in economy growing was still growing. Stocks are in Mixed Territory this morning, as the S&P was the lone index in Positive Territory, and it was barely above water. MBS is Up 16bps, which will lead Lenders to provide better pricing today. We're in the 103 range on the 2.0 MBS coupon, which hasn't been sustainable. We'll see if it can stick this time! Yields have climbed to just under 0.60% and pushing up against it's 50 DMA. As I mentioned in the video,...
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By Mike Bjork
(Evolve Bank & Trust)
http://MikesDailyMarketReport.com: The Durable Goods Orders increased 7.3% in June, surpassing it's forecast of 6.5%. There will be other reports this week, which includes the first look at Q2 GDP; and the FOMC starts tomorrow, with their Announcement on Wednesday. Stocks are trading in Positive Territory, as many of the Big Tech Companies will release their Earnings Reports this week. We're still looking at tensions with China and increasing coronavirus infections. Some good news has the Republicans in agreement with each other on proposal for next Stimulus package, which will be brought to their counter-parts (Democrats) to negotiate. This could be a long, drawn-out period. MBS is currently Up 9bps, as it is currently off of it's Opening High. Mortgage Rates remain Unchanged from Frid...
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By Jeff Jensen
(The Federal Savings Bank/Lending in 50 states)
Mortgage backed securities (MBS) market closed up 3 basis points today at 104.53 having closed 300 points above support offered by the 200 day moving average. The conforming rate is at 2.625% today. My jumbo pricing is now sizzling! The 30 year jumbo for $1 million was at 3.75%. Whether in New England, the Mid Atlantic or the Midwest or anywhere else in the U.S. history tells us it is time to refinance!! Please call me at 203-981-8282.
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By Jeff Jensen
(The Federal Savings Bank/Lending in 50 states)
Economic data is plentiful this week with Durable Orders easily beating expectations in June as data continues to roll in on the positive side. In addition, housing, consumer confidence and sentiment, the inflation reading Core PCE and consumer spending will be released. All eyes will be glued to the first reading Q2 2020 Gross Domestic Product where it is expected to plunge by at least 30% due to the pandemic induced shutdown.The Fed's monetary policy report will be released on Wednesday at 2:00 p.m. ET. There is a zero percent chance of a change to the short-term Fed Funds Rate, but what the statement conveys and what Fed Chair Powell will say at his 2:30 p.m. ET press conference could impact the markets. The Federal Funds Rate is the interest rate at which depository institutions tra...
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Table of ContentsA Biased View of Puerto Rico — American Cancer SocietyWhat Does Puerto Rico News — Top Stories From Al Jazeera Mean?A Biased View of Pandemic Plunges Puerto Rico Into Yet Another Dire …Not known Facts About Puerto Rico -Public Access — Main Page — Lexis AdvanceAbout Puerto Rico Profile — Bbc News — Bbc.comThe Facts About Discover Puerto Rico: Puerto Rico Travel Guide — Visitor … UncoveredPuerto Rico will become a very popular travel destination in 2020. Clothes shops will certainly not enable try-ons in shop. Salon, barbershops, and also personal medical spas level, except on Sundays, through session, except spas. Guests are actually certainly not enabled to stand by in waiting locations. All gambling establishments are actually currently closed. Community seashores as ...
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By Richa Nayyar
(Coming service)
 Latex has long been associated with Halloween Costumes, the 70s and sexy attires. But this last month, latex has been seen to make a comeback in Paris’ catwalk, with fashionistas among the like of the Kardashian sisters and Lady Gaga in her latest video. So, is the latex look back again?Source: Kim Kardashian Instagram, March1 2020 with Kourtney at ParisLatex has always been popular with several Halloween costumes looks. The most popular are the Catwomen in Batman movie, portrayed by Michelle Pfeiffer in the 1992 film Batman Returns with a shiny catsuit and in 2012 by Anne Hathaway in Batman Dark Knight Rise in a mat black latex catsuit look. Both were fitted with full black gloves and thigh-high black boots. In the most recent Batwomen TV series, premiered on The CW in October 2019, K...
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By Jason E. Gordon, Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE
(AmeriFirst Financial Inc, San Diego, CA)
What are the rules for using Child Support and/or Alimony as "Qualifying Income" for a Mortgage Loan Application? There is often a disparity between "Real Income" (the amount of money we actually receive) and "Qualifying Income" (the amount of income that is recognized on a mortgage loan application).  With regards to receipt of Alimony and/or Child Support, this disparity is often accentuated.  Below are a few details that need to be known by all Divorcing Homeowners and/or the Professionals who serve them.  Divorce Mortgage guidelines are unique."The Rule of 6/36" (Part 1)The first number (6) pertains to "historical receipt of income.  The idea behind this emphasis is to determine if the agreed upon payment is actually being made by the Payor in a manner that is consistent with Fannie...
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By Rateswire.com Rateswire.com
(www.rateswire.com)
  A growing number of Chelan, Bridgeport, Coulee City, Washington homeowners have saved their homes thanks to Obama's Loan Modification Plan, and can now afford their payments so they don't lose their home to foreclosure. President Obama's Federal loan modification program helps lower mortgage payments to homeowners who can qualify for approval. The loan modification plan provides a reduction in the payments of your mortgage loan, making the monthly installment equal to or less than 31% of the gross monthly income of the household - including taxes, insurance and homeowner association dues. Chelan, Bridgeport, and Coulee City, Washington homeowners should immediately confirm whether or not you Qualify for the Obama Loan Modification Plan.  It is key that every homeowner explore their op...
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By Rateswire.com Rateswire.com
(www.rateswire.com)
  In a nutshell, Obama's Loan Modification program will provide a reduction in the payments of Deer Park, Chewelah, and Newport, Washington homeowners. This means that the monthly installment will be equal to or less than 31% of the gross monthly income of the household - including taxes, insurance and homeowner association dues. To find out more about qualifying for the Obama Federal loan modification plan, or other such lender programs, start by completing a free loan modification evaluation. Finding out exactly what you qualify for, while gathering information and exploring all the options available to you, will allow you to present a very professional loan modification application that will rise above the pack. So before you contact your lender with a loan modification application p...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
Pensacola’s TOP STORIES:Mortgage Rates Rise for First Time Since June 25The 30-year FRM averaged 3.01% this week after dropping below 3% last week for the first time in at least 50 years. One year ago, the FRM averaged 3.75%. Read more Pensacola's Need To Know? What is Title Insurance, Escrows and closings explained in simple terms? Get REAL ANSWERS Hey Pensacola Did you hear about? Guess WHERE I EAT?  The funniest Thing?  .Latest Home Offerings  I can do my own search!Sign up for our Monthly Newsletter what happening here on the gulf and homes for sale.  Want to know the TRUE VAULE of your Home in Today's Market  Thinking of SELLING We Charge a flat fee (Fair Fee) of $2995 to sell your home. We use our 27 step Home Marketing System designed to sell your home faster, for more money whil...
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By Bruce Reichstein, VA / FHA Construction Lending / Nationwide
(www.OneTimeClose.com)
Some house hunters get fed up with looking for just the right home, while others start out their home loan journey knowing in advance they want a house built for them. What options to these borrowers have?There is an FHA home loan known as the FHA One-Time Close construction loan that lets borrowers apply for a single loan that covers both construction costs and the mortgage itself.The FHA version of this type of construction loan requires the borrower and lender to work together to establish a plan for the project including estimated completion times, interest rates, budgets, and more.Some borrowers aren’t interested in FHA home loans since they have other options; do qualifying military veterans have a VA loan version of the FHA One Time Close Mortgage? The short answer is yes.The VA ...
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By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
Pensacola’s TOP STORIESWill Your Homeowner’s Insurance Weather a Hurricane?June 28 was National Insurance Awareness Day – a reminder for homeowners to check their current policies and coverages as the nation faces the 2020 hurricane season. Read more Pensacola's Need To Know? What is Title Insurance, Escrows and closings explained in simple terms? Get REAL ANSWERS Hey Pensacola Did you hear about? Guess WHERE I EAT?  The funniest Thing?  .Latest Home Offerings  I can do my own search!Sign up for our Monthly Newsletter what happening here on the gulf and homes for sale.  Want to know the TRUE VAULE of your Home in Today's Market  Thinking of SELLING We Charge a flat fee (Fair Fee) of $2995 to sell your home. We use our 27 step Home Marketing System designed to sell your home faster, for ...
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By Bob Thompson 562.344.5626 Alternative Documentation, RT Capital Advisors, Inc.- Commercial/Residential
(RT Capital Advisors, Inc. CEO)
Home Equity Line of Credit (HELOC) No Income Verified-Verified Assets (NIVA)  Owner-Occupied, Non-Owner Occupied and Second Homes, SFR's, 2-4 families, Condos and Co-ops.  Over 700 FICO with no history of BK or lates. First 6 months starting at 4.29%.      Loan amounts from $150,000 - $1,000,000.  Up to 70% LTV to $1,000,000 loans outstanding (including new HELOC)     Starting at .5 floating over WSJ Prime in 1st position.  1.5 floating over WSJ Prime in 2nd position or paying off liens.  Lower your rate by up to .50%**   10 year draw period, 20 year amortization.  Must provide proof of at least 6 months of PITIA reserves with a CPA Letter and VOD.  No CPA Letter needed with 18+ months reserves.     Available in all Counties of: CA, GA, MA, NJ and NY.      Fees: 2.5 points + $995 proces...
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By Dave Benneton, Fast Cash Offers
(Digital Bullet)
          Mortgage Companies In AtlantaAre you planning to buy a house in Atlanta? Congratulations! Welcome to the home buying process; you are now a step closer to getting your dream home. The real estate market in Atlanta is quite huge, with the mortgage lenders serving thousands of people. This can make the process of getting the right mortgage lender for you, daunting. However, do not worry, as the guide below will give you crucial tips to use in your home buying process and how to choose from the numerous mortgage companies in Atlanta.Getting The Right Atlanta Mortgage LendersThe truth is that the home buying process is stressful and not a walk in the park. It can take a toll on you, and getting the right mortgage lender will work wonders. To find the best mortgage lender in Atlant...
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By Robert Rauf
(HomeBridge Financial Services (NJ))
 As we have businesses opening after state mandated shutdowns we have new methods to follow for self employed borrowers/buyers.Pre-Pandemic we would use the past two years Federal tax returns and average income or sometimes, if the most recent year was lower, we would use the lower of the two years. We would also ask for a Profit and Loss, but mostly just to show the business was still running this year- and it was more to show the trend than any actual income for the current year.As businesses are reopening the mortgage industry has new guidelines to follow to prove the business is "back".  We are now heavily relying on a YTD P&L along with 2-3 months business statements to show income for this year and if it is lower than previous years that is the income we will be using to qualify. ...
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By Mike Bjork
(Evolve Bank & Trust)
http://MikesDailyMarketReport.com: Markit Manufacturing PMI moved into Expansion territory in July, as it went from 49.8 in June to 51.3. Markit Services PMI improved in July, as it's June number was 47.9 and jumped up to 49.6 in July. Anything below 50 is contraction territory and anything above it is expansion on these reports. New Home Sales jumped up dramatically in June, as it went from 682k annualized units in May to 776k in June. Stocks are Down this morning over concerns of the growing tensions between US and China; and the lack of development in next Stimulus/Recovery Bill from Congress. MBS is currently Unchanged from yesterday's close, as Mortgage Rates also remain Unchanged. Yields are still around 0.58%, but adding heavy pressure to it's floor. As I mentioned in the video, ...
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By Dan Papadapoulis, Home equity loans, second mortgages Toronto
(Mortgage Central Nationwide)
Canadian homeowners have plenty of ways to access home equity although it can be tricky to choose which option is the best for their specific situation. It is not a secret that some individuals may face more difficulties or experience more limitations such as in the case of freelancers and other self-employed individuals. In general, people with non-regular income sources will have more difficulty securing mortgages and other loans.Challenging Choices for BorrowersThe Canadian Government introduced the mortgage ‘stress test’ just a year ago and Canadians are having a more challenging time borrowing money with good interest rates since it was implemented. The mortgage stress test made things more favourable for lenders by increasing profits and decreasing risks but since borrowers have b...
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By Danny Papadopoulos, Offering Private & Second Mortgages in Toronto
(Homebase Mortgages)
Home equity loans and home equity lines of credit are hot mortgage news topics recently because of changes with mortgage rules and interest rates. There is also quite a lot of misunderstanding from readers thinking that HELOCs and home equity loans are one and the same. In this write-up, we’ll be delving more into HELOCs and differentiate them from second mortgages.A HELOC or A Second Mortgage is a Line of Credit That is Secured by the Value of Your Home EquitySecond mortgages and HELOCs are both loans that use the equity of your home as collateral; however, while a second mortgage is dispensed as a lump sum, a HELOC is given as a loan limit from which the borrower can use as little or as much of for a predetermined period of time. Because of this, the required monthly payment for HELOC...
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By Danny Papadopoulos, Offering Private & Second Mortgages in Toronto
(Homebase Mortgages)
Debt consolidation is a popular way to avoid paying huge interest rates for existing debts. Through the process of debt consolidation, multiple debts are converted into just one easy-to-manage debt with just one billing instead of having to keep track of multiple bills a month. It works by borrowing enough money to pay off smaller debts to ‘convert’ them all into just one debt. One way to do so is to refinance your mortgage.How to Get Rid of Debt in CanadaWith recent developments in world events, more Canadians are weighed down by debts these days. Almost everyone has credit card debts, personal loans, car loans, student loans, and other types of loans. It is easy to get buried in debt just by forgetting to pay one bill every now and then. Some people are so overwhelmed by multiple bill...
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