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 Seesan Ed, Real Estate Referral Agent | Mobile Notary in DE
(206 715 1642)
I am writing this to help reverse mortgage borrowers, other elderly citizens (seniors) and the concerned others even though these suggestions can be used by anyone. Your important documents such as Passport, Social Security card, Medicare Card, Drivers License, Mortgage papers (especially those humagus stacks of reverse mortgage papers)  are all precious to you. They certainly must be safeguarded. Safe deposit boxes are the obvious option, but keep in mind that bank deposit boxes may not be accessible by you freely on weekends and holidays, in times of disaster, calamity or during diseases like COVID-19. You should keep all of the contract papers detailing your home purchase, reverse mortgage loan and certain other loans for the life of the loan. Maybe sometimes an extended period of ti...
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By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Commercial Bond Yields CMB 5 Year - 0.79% CANHOU 06/15/25 [-]   ‌ 10 Year - 1.05% CANHOU 06/15/30 [-0.07]   * denotes interpolated rate GoC 5 Year - 0.40% CAN 1.25 03/01/25 [-0.03]   ‌ 10 Year - 0.48% CAN 2.25 06/01/29 [-0.06]   GOC Bonds are for reference purposes only Floating rate insured cost of funds 1.35% [-]                   Prime Rate 2.45% [-]
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By Brian Madigan, LL.B., Broker
(RE/MAX West Realty Inc., Brokerage (Toronto))
Term Posted Rate Preferred Rates 1yr 3.59% 3.19% 2yr 3.74% 2.84% 3yr 3.89% 2.29% 4yr 3.94% 2.69% 5yr 5.19% 2.49% 7yr 5.8% 3.24% 10yr 6.1% 3.24%
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By Mike Bjork
(Evolve Bank & Trust)
http://MikesDailyMarketReport.com: There are no economic data to report today. Stocks are Down this morning after reflecting on this week's events and heading into a long weekend. President Trump was asked a question regarding a possible 2nd wave, which he responded that we'll put out fires, but we won't be closing the economy. MBS is currently Down 2bps, so Mortgage Rates continue to be Unchanged. Yields are Down to 0.65% and trying to remain above it's 25 DMA. If it breaks below it, then it could be a good sign to push MBS upwards and see improved pricing in Mortgage Rates. Fingers crossed! If you're located in California and looking to either buy a home or refinance and would like my assistance, then please click on the following link and answer a few questions: HEREPlease subscribe ...
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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 103.50 having closed 289 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 Charles Stallions, 800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
TODAY'S TOP STORIESA Guide to Surviving Financially as the Bills Come DueThe coronavirus has dealt a financial blow to millions of Americans and now April’s bills are coming due – but reach out to lenders and others for help. Read more Pensacola's Need To Know?Pandemic Creates Challenges in Mortgage Loan Process Final loan approval relies on documents and approvals from different offices, and the spread of COVID-19 has created problems – but some recent changes should help. 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, my nam...
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By ReadySetLoan Condo Approval Team, The FHA/VA Condo Project Approval Specialists
(ReadySetLoan Condo Team LLC)
Airbnb and FHA Condominium ApprovalOne of the topics on HUD’s agenda for the roundtable session last month was that of “Airbnbs”.  I have to admit that even with all of the condominiums that we have worked with, this was a new concept for me.  None of the legal documents of our condominium clients had any such language in them.In case this is new to you, Airbnb is when unit owners allow overnight guests or trading of units on a temporary basis.  We understand that this is more common in areas where unit owners can provide an alternative to hotels in resort areas or for large events such as a university graduation.Airbnb is a topic for discussion for HUD because this falls into the category of transient leasing, which is prohibited by the National Housing Act.  A home, whether it be a si...
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By Seesan Ed, Real Estate Referral Agent | Mobile Notary in DE
(206 715 1642)
For sure, reverse mortgage has been a life-saver for senior citizens who are 60-62 years and older. One may have a very strong portfolio of real estate assets, but still can be struggling with cash in hand for meeting monthly expenses. If you have equity built up in your home asset, that can be a golden source to help you become cash-rich. It is a crucial tool. Drawing from your 401K, or any other investments at this time will be a disaster. Rather you take advantage of a reverse mortgage opportunity, if you can. Reverse mortgage has been great for seniors and the future of this  industry is brighter than ever. For months to come, we are going to see a massive flow of reverse mortgage loan products. The reverse mortgage, especially the HECM reverse mortgage is insured by the FHA.Being a...
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By Jeff Jensen
(The Federal Savings Bank/Lending in 50 states)
Mortgage rates remained near record lows in the latest week during the uncertain times caused by the coronavirus pandemic. The Mortgage Bankers Association (MBA) reports that the 30-year fixed-rate mortgage was at 3.41% with 0.33 in points for the week ended May 15, 2020. The MBA's Market Composite Index, a measure of total mortgage loan application volume, fell 2.6%. The Refinance Index fell 6% while the Purchase Index rose 6%.Easing state lock downs, hopes for better economic times ahead and incredible support by the Fed, Treasury and Congress are boosting the major U.S. stock indexes today. This comes after Monday's huge gains and yesterday's declines. In addition, solid earnings from Lowe's is also boosting sentiment today. The closely watched S&P 500 is up 30% from the March 23 low...
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By Mike Bjork
(Evolve Bank & Trust)
http://MikesDailyMarketReport.com: Initial Jobless Claims continued it downward trend in people applying for unemployment benefits, as it dropped from 2.69 million in last week's report to 2.44 million in this week's report. The Philly Fed improved from -56.6 April to -43.1 in May. This index reports the activity level of manufacturing in the Philadelphia area. Meanwhile, Markit PMI released their 2 reports (Manufacturing and Services) for May. Markit Manufacturing PMI improved from 36.1 in April to 39.8 in May; and Markit Services PMI improved from 26.7 to 36.9. These last few indices indicate that we bottomed out in April and on way to recovery, but how long it will take is uncertain. Also, we have the Existing Home Sales for April, which dropped from 5.27 million annualized units in ...
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By Jeff Jensen
(The Federal Savings Bank/Lending in 50 states)
Nearly 39 million Americans have lost their jobs in the past nine weeks due to the economic shutdown. However, with many states reopening, Memorial Weekend upon us and the American spirit ready to go - the market response to the weak data is muted. Weekly Initial Jobless Claims came in at 2.438 million for the week ended May 16 while the previous week was lowered to 2.687 million from 2.981 million. The numbers have fallen since the record 6.867 million filed on Mach 27. This means with 157 million people in the U.S. workforce in February, nearly 25% of the workforce is without a job.Mortgage rates remained near record lows in the latest week, reports Freddie Mac. The 30-year fixed-rate mortgage came in at 3.24% this week with 0.7 0n points and fees. Freddie Mac says as states reopen, w...
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By Jeff Jensen
(The Federal Savings Bank/Lending in 50 states)
Mortgage backed securities (MBS) market closed down 6 basis points today at 103.47 having closed 288 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 Seesan Ed, Real Estate Referral Agent | Mobile Notary in DE
(206 715 1642)
Closing cost for any reverse mortgage varies- that is the popular answer. Yes, closing costs for reverse mortgage loans vary by lenders and the programs they offer. As far as I know, there are no reverse mortgage loans available that did not have costs associated with them.  Like any other real estate loan, a reverse mortgage loan is generally a prolonged and anxiety-ridden  exercise that involves many steps and procedural formalities. Prior to that closing day arrives, a long list of things has to transpire. Along the journey of getting a reverse mortgage- i.e. from required counseling to closing of the escrow, your lender and other third party vendors will have performed several services for the completion of your loan process. Closing costs are mainely fees and expenses that are incu...
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By George Souto, Your Connecticut Mortgage Expert
(George Souto NMLS #65149 FHA, CHFA, VA Mortgages)
The COVID-19 Virus has created many issue for the Mortgage Industry.  One of the most challenging has been with borrowers out of work and unable make their mortgage payments.  As a result guidelines have been created to allow homeowners to receive a forbearance for their mortgage payments.  But this remedy has in turn created a new issue with borrowers not being able to refinance or purchase a home if they have received a forbearance.  This week the Federal Housing Finance Agency (FHFA) changed their guidelines to address this situation.Below is a news release on this recent guideline change.  FHFA now allows borrowers with a forbearance to refinance, or purchase a new home.  Also if you click on the article below it will take you to a website with more information on this guideline cha...
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By Trent Dalrymple (248) 854-0625, Allowing Mortgage Professionals to Lend Nationwide
(Texana Bank)
On this day, February 11th in 1812, Eldridge Gerry, then governor of Massachussetts, signed into law a redistricting plan designed to keep his political party in power for the upcoming election. When the law passed, reportedly the editor of the Boston Gazette, compared the shape of Gerry’s district to a salamander. The editor said, “Salamander! Call it a Gerrymander” Gerry went on to become James Madison’s second vice president. He was also a signer of the Declaration of Independence, a member of the House of Representatives, twice governor of Massachusetts, and had proposed the founding of the Library of Congress. And here’s my proposal to you. Declare your independence from only lending in one or a few states. Lend in ALL 50 states without any additional state licensing! Call or text ...
Comments 346
By David Krichmar, DaveYourMortgageGuy.com
(www.DaveYourMortgageGuy.com - Legend Lending)
Conventional 30 year Mortgage: 3.0%Credit score:740LTV:75%Loan Amount:$300kAPR: 3.37%FHA 30 year: 2.75% Credit Score:740LTV:96.5%loan amount:$300kAPR: 3.92%Conventional 15 year: 2.5%Credit score:740LTV:75%Loan Amount:$300kAPR: 2.615%Rates are Subject to ChangeCall me today if you are thinking of refinancing or buying a home, for the best mortgage rate possible. 
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By George Thoma, Branch Manager / Broker
(Island Lending Hawaii, LLC | Equal Housing Lender | NMLS 312250)
 If you are not solid on the ins and outs of down payment, don't worry, you are truly not alone, There is so much misinformation floating around about down payments. Have you noticed on many payment calculators on like Zillow or Real-Estate Websites, the calculator is set at a 20% Down Payment, which makes you believe, this is what you should do, it can be hard to keep facts straight. Here is a Quick crash Course on the down payment.  What is a down payment?It's actually much simpler than you might think. The down payment is just the percentage of the home's total sale down payment is just the percentage of the home's total sale price that you pay with your own money. (The rest of the sale price is covered by your mortgage loan .) Do I need to put 20% down?Conventional mortgage loans re...
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By Jeff Jensen
(The Federal Savings Bank/Lending in 50 states)
Mortgage backed securities (MBS) market closed flat today at 103.53 having closed 296 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 Mike Bjork
(Evolve Bank & Trust)
http://MikesDailyMarketReport.com: The FOMC Minutes will be released around 11am PST today, but we don't anticipate any news from these notes. Stocks are Up this morning on good earnings reports from retailers (like Target and Lowes). MBS is currently Up 11bps, and yesterday, it closed Up 27bps, so you can expect better pricing with Mortgage Rates today. The Fed is purchasing up to $4.5 Billion of MBS today. There is a Bond Auction today, so it's possible to have an adverse reaction to the Market, if it isn't successful. Yields are currently sitting at 0.71% If you're located in California and looking to either buy a home or refinance and would like my assistance, then please click on the following link and answer a few questions: HEREPlease subscribe to my Blog and YouTube Channel at M...
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By Charles Stallions, 800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
TODAY'S TOP STORIESA Guide to Surviving Financially as the Bills Come DueThe coronavirus has dealt a financial blow to millions of Americans and now April’s bills are coming due – but reach out to lenders and others for help. Read more Pensacola's Need To Know?Requests to Delay Mortgage Payments Jump Nearly 2,000% The Mortgage Bankers Assoc. says requests for mortgage payment delays surged 1,270% during the first half of March and another 1,896% during the second half. 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, my name is ...
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