I am not sure what it's like in your part of the country, but what a gorgeous day. And especially
for Memorial Day. Thanking all the men and woman that served our country and for those men and women who are currently serving our country.
Also, for those of you here on Active Rain that had or have sons, daughters, or family members that served and who are currently serving our country. My thoughts and prayers go out to each and everyone of them and your familys.
At times, it just seems like yesterday and some days, it seems like forever. Forever, gee, 20 years ago this past February 18th, was my last day in the US Army. Here I am, with my mom in St. Louis, with a 3 day pass in between basic training and AIT.
Mortgages may be boring, but a good loan officer will always finish a good fight, in getting your loan approved. Just as the men and women fight for our freedom. In any case, what a great week to do the MORTGAGE PRO Week in Review. There were some good, eye opening posts that we should pay attention to. Especially in this ever changing market. But what I would like to see are more posts in regards to mortgages. I am not saying that I am the best at them, but after speaking to several loan officers here on AR, we need more than just 'some' good posts. Because of the lack of quality posts, I was able to skim through these quicker than I thought. I challenge all loan officers to try and write at least one good quality mortgage post per week. Gee, it might even earn you some business. And please read the end of this post, because we need some new volunteers to help with the Mortgage Pro Week in Review. Please don't be shy... now, onto my selections. In no particular order......
I wanted to start of with a post by AJ Nisen, who not only talks about mortgage fraud, but tells you what to look for. Especially with everything that has happened in the last year.
MORTGAGE FRAUD SCHEMES
With everything happening in today’s market, mortgage fraud is up considerably. Alan 'AJ' Nisen shows us the different types of mortgage fraud and gives us definitions on each one.
Tips to protect the Consumer from becoming a victim of Mortgage Fraud
Alan 'AJ' Nisen takes it one step further to show the consumer on how they can try to protect themselves against mortgage fraud. I love the first part, Googling your loan officer and the lender. You might be surprised what you can find sometimes. We just did this with an investor and found out all kinds of negative feedback. It saved us more than thousands.
Fannie Mae to drop previous guideline
Esko Kiuru talks about Fannie Mae reversing the declining market guidelines.
Beyond McMansions and SUV's : The TOP TEN Changes Coming to California
Janet Guilbault gives us predictions in the nearby future on how will live our lives, when it comes to bigger homes and the gas guzzlers..….
The Myths behind ZERO point mortgages instead of paying points upfront……
Something that is very critical, when applying for a mortgage. Jeff Belonger shows that you could save more money in 5 years if you took that extra money and applied it to your points, in buying down the interest rate, than applying it to your mortgage balance.
Referrals Are at Your Fingertips!
Robert Rauf makes a great statement with this post, and that is, don’t overlook your first time homebuyers just as a current business transaction. Think about the future possibilities, in obtaining referrals from them.
Subordinate Lien Foreclosures - Quick Clarification
Ken Cook gives us a little FYI……. This type of information keeps you abreast of what could happen and how it happens, when it comes to foreclosing on a 2nd or a 3rd mortgage.
Real Estate Finance Frequently asked Questions
Joel Silberstein makes some good points in this post. Putting a large down payment down on your new home is not always the wise thing. Read to find out why.
LifeLock ID Protection Fails
Dave Woodson explains to us why we should protect ourselves against identity theft and how.
A letter to your loan officer from you, the consumer......
Jeff Belonger shows some very important questions that should be asked by your loan officer. Not all loan officers take it this far and it should be explored for each consumer, knowing their goals to help determine their financing needs.
How Roxie Got Her Groove Back!
Jason Sardi shows that if you can’t qualify under the normal conventional loans and FHA loans, by talking to a mortgage professional is essential. Someone that keeps up with the ever changing loan programs, has a better chance of making your dream come true.
Ill huff and Ill puff and Ill blow your house down…
Brian LeBars talks about Eco-friendly building , materials. It’s something that we will see more of in the future. And this is something that you can add in your mortgage of the purchase of a new home.
The next 3 members for the Mortgage Pro Week in Review :
<!- 1. Brian Brady 05/26/2008 through 06/01/2008
<!- 2. Matthew J Blum 06/02/2008 through 06/08/2008
<!- 3. Joey Aszterbaum 06/09/2008 through 06/15/2008
Mortgage blogs by loan officers Here is a list of Loan Officers. If you are not listed, please email Jeff Belonger to be added. This way the person doing the Mortgage Pro week in review can try and find most mortgage related posts in one section. ActiveRain is growing rapidly and it is difficult to keep up.... If you think you have been ignored, you have not. This is open to all!!!
All About Mortgages/Mortgage Networking Here is a group that many loan officers post their mortgage related blogs in. A good place to learn more about the type of programs, new industry news, and sometimes some inside tips. Don’t hesitate to join.
We really could use some new volunteers for the Mortgage Pro Week in Review. Even if you are a realtor, a title person, or someone else that is related to the mortgage/real estate industry….. please read below.
MORTGAGE PRO Week in Review A repository for the Mortgage Week in Review. Please don’t hesitate in joining this group. And any volunteers for the mortgage week in review, please e-mail Jeff Belonger at jbelonger@ihmci.com
There will be no recreations of any type regarding the titles or content of this group or Review without the permission and expressed written consent of the Group's founder
Mortgage Pro Week In Review - Copyright 2008©
It's great that you are doing this. I believe that if we know more about mortgages we can all make more educated decisions with our clients
Thanks for your time on these reviews.... I know all too well how much it takes to do. Hope you had a great holiday
Jeff - I hope we see more folks step up to this challenge, especially those who aren't Mortgage Professionals. As Dennis pointed out, it will help everyone make more educated decisions. You have mentioned some names I'm not familiar with, so I'll have to go on over and peruse some new reading for me. Thanks for the mention, you're pretty Groovy;-)
Temps in the low 70s in Las Vegas, but I'm sure we'll be in the triple digits for 4th of July. I like the mix of content that you've put together, Jeff. The revised FHA guidelines was great news for us as just about all of Las Vegas was labeled declining. Going to take a look at the Eco-friendly building post and a few others now.
DENNIS.... thanks.... I would love to see more help with this.... it's not as daunting as doing the Weekin Review for Active Rain overall, but it still takes a lot of time. But yes, these can help so many of us, even the loan officers, so we can truly help the consumer make the best decisions.
DESIREE..... my pleasure and yes, I know you do. In regards to the holiday, I am pooped... lol I had helped my mom with my two youngest niece and nephew of 1 1/2 months and then playing with my 4 other nieces and nephews... ranging from 9 to 4 yrs of age. I hope you had an enjoyable and relaxing one....
JASON..... so do I, so do I.... and yes, especially those that are mortgage professionals. I hope they don't become shy and help jump in. Hope you enjoy some of these..... and you are most welcomed, on the selection. Thanks for a good example to include....
JOHN N. ..... thanks, I hope some of these come in handy for educational purposes. And I hope you get something from the eco-friendly post, just as I did. I hope to be writing more about these in the near future.
You're bookmarked now. I'm most interested in the eco friendly post. We're building a new home and doing it with Geothermal heating and cooling. So I'm interested to find out more. It's bookmarked.
Jeff:
Great review of the best in mortgage writing this week. I am embarassed to say I read only a few of these before your review. Thanks for sharing a great collection of info from the mortgage brain trust.
Jeff
Jeff,
So much wonderful information here in these posts, the challenge is finding the time to read and ingest. Thanks.
LARRY..... yes, that was a good one and I plan on writing a few more. My last one was back in July of last year. thanks
JEFF D. ..... why be embarrassed.... prior to doing this review, I think I read one of them, besides mine. With some many blogs being written daily, unless you are subscribed to someone, it's tough to read them all... and even miss some good ones. thanks for the compliments.
CYNTHIA..... the challenge? lol I think I truly need to make a double of myself and read all blogs between 1 am to 7 am... and then give me a status report. thanks for stopping by.
Jeff,
Thanks for choosing my Fannie Mae update for the Review. Its reversal should help the mortgage and housing markets move toward a solid recovery. Besides, being mentioned in this revered group of AR bloggers is of course numbing.
Jeff,
You look so young in that photo and so does your mom!
ESKO..... my pleasure.... but I don't think this reversal will help the housing markets move toward a solid recovery. I make this statement because there are many lenders out there that aren't FHA approved. With 5% down and credit scores below 680, the clients mortgage payment will be a lot more than a payment for a FHA mortgage. Don't forget, you have penalties to the points with scores under 680 and your mortgage insurance will be about 25% more a month. All of this could add up... just my opinion, but I have worked the figures, and they don't lie.
Overall, I think this helps the lenders more than it will for the consumer. Again, just my .02.
MONIKA.... <blushing> but PS... I was very young then... lol thanks
Jeff, great post. I really appreciate the time and effort to put this together. AJ
Jeff
thanks for choosing my bolg for this. I really do appreciate it. Look forward to your blog daily
Dave Woodson
AJ.... thanks and my pleasure..... and hopefully you'll be doing one soon.... thanks again for the compliment.
GENE..... I didn't post that fraud post. I just mentioned it in here. You need to send that e-mail to AJ Nisen. thanks
DAVE..... my pleasure.... more people need to know about this and to understand this.