Archive for the 'Lenders' Category
Stated Income Loans: Are They Making A Comeback?
Late last week, I got an mail from a lender with something I haven’t seen for a while — a stated income loan offering.
Are stated income loans making a comeback?
They are at one lender – which means that other lenders are likely to follow suit soon.
Highlights of the Stated Income …
The Bait And Switch Still Happens
Consumers are on sharp when they talk with mortgage loan officers more than I have seen in recent years. All by the news, public are being bombarded with stories about how citizens are being foreclosed on all considering some unethical mortgage loan officer put them in a poor loan and now they can&#…
Have You Heard The Joke About 3 Goldman Sachs Managers Who Walked Into A Bar?
That’s actually the punchline.
Sorry. unbreakable room.
But seriously, folks, I don’t mean to build light of what is a very, very unlucky situation. What “situation,” you ask?
Ah, well. Goldman-Sachs, the venerated Wall Street investment firm, has gotten itself into a bit of …
Local Is Better
When choosing a loan officer to work with, many times it can be confusing. There are the larger lenders who all operate slightly differently, the mortgage banks and the mortgage brokers. Depending on where the loan officer works, they will have access to different tools that will help compose the lo…
HEFI: Home Equity Fractional Interest
It has been my experience in life that before something goes mainstream and everyone knows about it, society usually work on it behind the scenes for a expanded instance.
I suspect the HEFI program (explained to me by Equidebt Solutions recently) is no different — it is complex ample that I be…
Stated Income Loans: The Unexpected Victims
It wasn’t all that lengthy ago that a busboy could walk into a mortgage lender, say he made $100,000 per year and get a home loan based on that number.
The loan programs that were available had all different kinds of names, but they all pretty much did the same thing — allow public to ge…
Florida Countrywide Settlement Means Checks To Homeowners
Here is the first thing like that I have seen – but possibly not the last:
Approximately 2,700 homeowners who had a loan with Countrywide are getting a check for just over$6,000 and total nearly $17 million as a aftermath of a settlement with the Florida Attorney Generals office.
According t…
