Author Archive

Ardell asked me to share with you how I present Good Faith Estimates to my clients when I’m not meeting with them face to face…and believe or not, most of my clients I never have the pleasure of meeting.   We do most of our conversation via email or over the phone.    When possible, I... »

The Jobs Report was released this morning reporting unemployment trending higher at 9.5% and another 467,000 jobs lost last month which was worse than expected figures.   Other points to consider is that people who have lost their unemployment benefits are  not factored in this figure nor are those people who are out of work and do not... »

The Federal Housing Finance Agency just issued a press release that Fannie Mae and Freddie Mac are authorized to expand the Home Affordable Refinance Program to 125% loan to value.  The existing limit is 105%.  From FHFA Director James Lockhart: “The higher LTV refinancings will allow more homeowners to strengthen their finances by taking advantage of lower... »

Jillayne wrote a post about the upcoming national licensing exam that mortgage originators will have to take and pass (unless they work for a depository institution) due to the SAFE Act.   She provided examples of questions that may be on the exam.  One of them is how to calculate income–which is receiving quite a... »

Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties).  The conforming rate quote below is based on owner occupied with a mid-low credit score of 740 or higher, “full doc” purchase with a sales price of $500,000 and a loan amount of $400,000 single family dwelling (non condo).  This scenario includes reserves... »

The FOMC wrapped up their two day meeting leaving the Funds Rate unchanged.   The target rate is remaining at 0-0.25%.  Now that this decision has been formally announced, everyone will be reviewing the Fed’s statement for clues on when they will begin to raise the Fed Funds Rate. From today’s FOMC Statement: …the Committee expects that inflation will... »

I can’t think of a better way to celebrate Father’s Day than going to a car show with a few of your favorite Dads.   Here are a few of my favorite photos from today’s visit to Burien’s Father’s Day Car Show, which included a chili cook-off.   For more photos, click here. »