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 Charles Stallions, 800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
TODAY'S TOP STORIESSmall Business Loans: SBA Says It’s Run Out of MoneyBusinesses hoping for federal relief under the $2.2 trillion CARES Act will apparently have to wait if they do not yet have a loan number. Congress generally agrees to add funds to its rescue programs but disagrees on details, such as the amount allocated to minority-owned businesses. Read more Pensacola's Need To Know?Early Trends Indicate Fewer Sales but Still Rising PricesBased on limited reports, it appears buyers still outnumber sellers even as the number of each declines. In early virus hot-spot Seattle, listings still have bidding wars. Read more What is Title Insurance, Escrows and closings explained in simple terms? Get REAL ANSWERS   .Latest Home Offerings  Sign up for our Monthly Newsletter what happening ...
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By Charles Stallions, 800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
TODAY'S TOP STORIESSmall Business Loans: SBA Says It’s Run Out of MoneyBusinesses hoping for federal relief under the $2.2 trillion CARES Act will apparently have to wait if they do not yet have a loan number. Congress generally agrees to add funds to its rescue programs but disagrees on details, such as the amount allocated to minority-owned businesses. Read more Pensacola's Need To Know?Nearly 4% of All Mortgage Loans Now in ForbearanceOne out of every 25 U.S. mortgage holders has requested a delay in their monthly payments. In early March, only one out of every 400 loans was in forbearance. Read more What is Title Insurance, Escrows and closings explained in simple terms? Get REAL ANSWERS   .Latest Home Offerings  Sign up for our Monthly Newsletter what happening here on the gulf and...
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By Seesan Ed, Real Estate Referral Agent | Mobile Notary in DE
(206 715 1642)
The idea of Reverse mortgage basically is- converting your equity in your home into an income flow, until you and your spouse are no longer, or have moved out the house.During this time period you make no mortgage payments.  But interest accrues on all the  amounts you have taken out.  At the end if you did not pay off the loan balance bank takes possession, and title of the house attempting to satisfy your reverse mortgage loan that they let you have. In this situation you or your heirs are not liable for the remaining debt. Is reverse mortgage suits for everyone? Absolutely not. I am not a certified specialist to advise you. You need to talk with a reverse mortgage professional and let them explain to you all the details of reverse products and programs. Before you jump into decisions...
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The headlines are telling about the global economic crisis, caused by the COVID pandemic. The decline of dollar and oil, tense political situation, and exhausted state budget seem removed and far from our lives. The truth is, financial troubles are closer than one can imagine – a hundred thousand people became jobless, half of them cannot afford even the basic needs.The significant aspect of all this is the rent issue – tenants need help paying rent because cannot pay the full price, while the landlords have no choice but to let them stay at houses during the quarantine. Both sides criticize the government for ignoring the matter. But what is the true solution and whether the state budget can handle a full reduction of rental payments?Everything Known About Canceling Rent MovementAccomm...
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By Seesan Ed, Real Estate Referral Agent | Mobile Notary in DE
(206 715 1642)
Whether you are retired or not, If you're a senior citizen, 62 or older,  and in need of opening up into a source of income to enhance your cash flow either to supplement your income for expenses during COVID crisis, to pay for medical  expenses, to meet expenses for your child's school admission, or to  pay off your mortgage, then you may consider a reverse mortgage. HECM is the most common and government insured reverse mortgage product available.  It enables you to transform part of the equity in your home into cash without having to sell your home or refinance your home. Reverse Mortgages are more pricier than other types of loans. You make sure you weigh-in the benefits and cost in obtaining a reverse mortgage. If you are strapped short of needed cash and a reverse mortgage is the ...
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By Joe Petrowsky, Your Mortgage Consultant for Life
(Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709)
      “You Will Own that Home!”    Hey Joe, I am blown away, we closed this morning and all went well. You sure did make a believer out of us and our Realtor as well. I still don’t know how you did it, our scores were in the low 600’s, three jobs in 1 year for me and each time we asked, you kept saying the same thing damn thing, “You will own that home”. I still don’t understand, how can others tell us that our loan can’t be done and you got it done? Actually as I think about it, I could care less as this point. Thank you so much, we will share your name any opportunity we can. All the best and be safe!   I suppose I shouldn’t be so confident! We are fortunate to do business with many different lenders that offer various loan products, allowing for different credit scores and with diffe...
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By Mike Bjork
(Evolve Bank & Trust)
http://MikesDailyMarketReport.com: We have a few manufacturing reports today, which the first is Markit Manufacturing PMI remained Unchanged at 39.8 in May; and it's counter-part, the ISM Manufacturing Index rose from 41.5% to 43.1% in May. Below 50 on these indexes mean contraction. Construction Spending dropped 2.9% in April, which was lower than the 6.8% drop forecasted. Stocks are in Positive Territory this morning on the ISM data. China reported positive manufacturing data on their Caixin index, which showed it just above 50 (expanding territory). Tensions are growing between the 2, as US is removing Special Status on Hong Kong; and China is pulling back on their purchases of US' Agriculture. Protests around the US raises more concerns, including a 2nd wave of covid-19. MBS is Unch...
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By Jeff Jensen
(The Federal Savings Bank/Lending in 50 states)
Mortgage backed securities (MBS) market closed up 10 basis points today at 103.78 having closed 308 points above support offered by the 200 day moving average. The conforming rate is at 2.75% 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 Sabrina Serna, Helping clients resolve IRS issues and past debt
(Serna Tax Solutions, LLC)
With over 14 MILLION collections cases currently active at the IRS, and that number expected to grow exponentially after the COVID-19 fallout, do not feel like you are alone if you are the recipient of one of the IRS "love letters".  My job  at Serna Tax Solutions, LLC is to help clients navigate their way around IRS collections, and get the best result possible in their current situation.  Whether that is a payment plan to get them off your back, an Offer In Compromise where we say "hey, I can't afford that bill, but here is what I can offer", or getting a lien lifted from a home so that it can be sold, there are many ways we can potentially deal with your IRS issue.  That said, your options start to diminish the longer you wait to respond to those "love letters".  Here is how the coll...
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By Charles Stallions, 800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
TODAY'S TOP STORIESFinally! Guidance on Applying for Federal Unemployment BenefitsThe first step is to be denied state benefits. Then Realtors and self-employed Floridians will be notified on how to apply for federal unemployment assistance (PUA). Read more Pensacola's Need To Know? Fed Likely to Hold Rates Near Zero for Months The Fed noted the gravity of the COVID-19 pandemic that has gripped the economy and made clear it would continue to do all that it could to provide support. Read more  If you would like more information, need to know the value of your home contact me or you can always visit our award winning website loaded with information.    What is Title Insurance, Escrows and closings explained in simple terms? Get REAL ANSWERS   .Latest Home Offerings  MAKE A NOTE OF ITHello...
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By ValuePenguin By LendingTree
(LendingTree)
What Do Lenders Look For in Home Equity Applications?If you're facing financial strain in your life, a home equity loan might be the answer to your credit issues. Not only does settling your high-interest debt with a low rate home equity loan cut down on your liability, but it diversifies your credit mix and can improve your credit score to boot.While you may face higher interest rates and lower loan limits with a damaged credit profile, it doesn't necessarily preclude you from obtaining financing. In most cases, home equity loans and HELOCs will still prove to be significantly cheaper than alternative sources of financing and many lenders are willing to be flexible for a borrower with a lot of equity in their home.All hope is not lost if your credit has taken a hit, you'll need to be a...
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By Elyse Berman, PA, Boca Raton FL (561) 716-7824 CRS, ABR, GRI,ePR
(Best Connections Realty, Inc.)
Feeasy providing collateral-free loans up to $50,000 to clients of real estate agents and brokers, stagers, movers, interior decorators and more.   "Our strategic alliance with Monevo, and its premier array of 30+ lenders, now provides our borrowers the opportunity to obtain a collateral-free loan nationwide for up to $ 100,000 for up to 12 years, quickly decisioned and promptly funded online."  For more information please contact John Gianonne:  john@itsfeeasy.com or (914) 405-5506 or John Credaroli:  jac@itsfeeasy.com (914) 216-2668.  FULL DISCLOSURE:  I AM NOT AFFLILATED WITH FEEASY IN ANY MANNER.  I RECEIVE NO COMPENSATION, COMMISSION OR REFERRAL FEE IF YOU USE THEM.  
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By Mike Bjork
(Evolve Bank & Trust)
http://MikesDailyMarketReport.com: Personal Income rose 10.5% in April. We think this anomaly is due to the disparity based on the lower pay scale employees losing work during the pandemic. Consumer Spending dropped 13.6% in April, as much of the economy was closed. The Personal Consumption Expenditure (PCE) dropped 0.5% in April, while it's YoY dropped from 1.3% to 0.5%; similarly, the Core PCE (which removes food & energy; and Fed's favorite gauge for inflation) dropped 0.4%, and it's YoY dropped from 1.7% to 1.0%. The Fed's target rate for Core PCE is 2.0%, which this new numbers greatly distances from it. The manufacturing sector in the Chicago region continued to decline in May, as the Chicago PMI reported it dropping from 35.4 to 32.3. There wasn't much movement from Consumers, as...
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By Joe Petrowsky, Your Mortgage Consultant for Life
(Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709)
 “From 6% to 3.5% in a Few Months”  Hi Joe,Hoping things are going well for you during this crazy time. We do still want to proceed with the refinance as our 2 year date for the BK discharge was 4/20/2020.  We are both still working, but he did take a temporary pay cut of 20% which he has in writing to resume normal salary when life resumes - however should be still enough salary to meet need of any loans.  You were so great to work with to get us a mortgage that no one could do, so can you help us again? We are excited to get out of a 6% mortgage rate.  All the best.   Non-QM mortgages have their purpose, and this is a perfect example. Even though I recommended they wait a few months to buy a home, they did not want to wait as they found their “Perfect Home”. The loan product that I pu...
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By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Commercial Bond Yields CMB 5 Year - 0.75% CANHOU 06/15/25 [-0.02]   ‌ 10 Year - 1.03% CANHOU 06/15/30 [-0.02]   * denotes interpolated rate GoC 5 Year - 0.39% CAN 1.25 03/01/25 [-0.01]   ‌ 10 Year - 0.48% CAN 2.25 06/01/29 [-0.01]   GOC Bonds are for reference purposes only Floating rate insured cost of funds 1.35% [-]                   Prime Rate 2.45% [-]      
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By Jeff Jensen
(The Federal Savings Bank/Lending in 50 states)
Inflation has been non-existent in the past two months due to the coronavirus induced shutdown of the U.S. economy. The inflation reading Core PCE fell to 1% annually in April, down 0.5% monthly from March. Personal Spending fell by 13.6% while Personal Incomes rose 10.5%. The personal savings rate surged a record 33% as most Americans were under lock down and didn't spend much. In addition, Personal Incomes surged boosted by government payments.Consumer Sentiment inched higher in May as the pandemic induced shutdown began to loosen up a bit across the nation. The Consumer Sentiment Index rose to 72.3 this month from 71.8 in April. Spokesperson Richard Curtin said, " The CARES relief checks and higher unemployment payments have helped to stem economic hardship, but those programs have n...
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By Jeff Jensen
(The Federal Savings Bank/Lending in 50 states)
Mortgage backed securities (MBS) market closed flat today at 103.50 having closed 284 points above support offered by the 200 day moving average. The conforming rate is at 2.75% 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)
Mortgage backed securities (MBS) market closed up 19 basis points today at 103.69 having closed 301points above support offered by the 200 day moving average. The conforming rate is at 2.75% 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 Richa Nayyar
(Coming service)
A typical laptop lasts between three and five years. Some can last longer, while some might cut out before then.But if you’re reading this article, you might not be sure if it is time to toss your laptop or not. After all, a laptop is an expensive investment that you rely on, so you’ll want to be sure you can’t repair it effectively before you put it in the trash.In this article, we’ll go over the top signs your laptop is dying so you can make a better decision on your next move.Read on for more information.1. Your Computer Is SluggishIf your computer is slow, it might be time to replace it. There are many reasons why your computer might be running at a slower pace than usual, but one reason might be because it can’t keep up with the demands you’re putting on it.A sluggish computer isn’...
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By Jeff Jensen
(The Federal Savings Bank/Lending in 50 states)
Just over 40 million Americans are now on the unemployment line since the shutdown began in mid-March but there is a silver lining. Weekly Initial Jobless Claims rose 2.123 million versus the 2 million expected for the week ended May 23. However, continuing claims or the number of people who have already filed an initial claim plunged by nearly 4 million. This signals that people are already finding work or getting rehired. As expected, the second reading on Q1 GDP fell 5% while Durable Orders fell 17%.Mortgage rates continued to inch lower in the latest survey while home purchase demand picks up steam. Freddie Mac reports that the 30-year fixed-rate mortgage fell to 3.15% with 0.8 in points and fees. It was the lowest rate in the 50-year survey history. Freddie Mac went on to say that ...
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