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LPMI, PMI and 80/20 Mortgages…Oh My!
Note: I should have titled this post: ”LPMI, PMI and Piggy Back Mortgages…Oh My”. I just realized my error thanks to Bill’s comment. My bad…my apologies! And there’s no way for me to 80/20 in the title. LPMI (Lender Paid Mortgage Insurance) is one of my favorite mortgage products to use for clients with less than... »
It may not be your business…but it is all mine!
Two years ago, our company switched our loan operating system to Encompass, so I have data available for the past two years (closed transactions from March 2005 – March 2007). I’m pretty surprised at the results after analyzing my purchase transactions and so thought I would share this with you. Mid Credit Scores 3% had credit... »
It’s Friday…Mortgage Rates are unchanged (for now)
Rates are unchanged from last Friday. The rates are based on a purchase price of $500,000 with 20% down and a credit score of 680 or better and are priced with a 1% discount. Every day, I’m receiving updates on guidelines from the varioius lenders we work with. Last night at 7:00... »
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