Fannie Mae changes coming for refinancing mortgage loans

October 25, 2016

Have you heard Fannie Mae might loosen some refinancing guidelines in December?  —————–

Fannie Mae said on Monday it has launched a program to streamline its underwriting on mortgages for some borrowers that uses electronic data instead of physical proof of their income, assets and employment.

The U.S. government mortgage agency said the “Day 1 Certainty” program would also offer relief from representation and warranty for the appraised value of a home and a waiver of its property inspection requirement for many mortgage refinancings.

“Together, these innovations deliver greater speed, simplicity, and certainty to lenders and borrowers. They also bring stronger risk management and promote greater digitization of data and processes to the mortgage industry,” said Timothy Mayopoulos, Fannie Mae’s president and chief executive officer, in a statement.

These program features will be available on Dec. 10, Fannie Mae said.

Fannie Mae and Freddie Mac finance mortgages made by lenders by owning them and guaranteeing the bonds backed by these loans.

September Existing Home Sales report

October 20, 2016

Here is a great chart showing Existing Home Sales, up 3.2% in September compared to where #MortgageRates were each month. The September report shows inventor back up to 2 months, what is it here in #Frisco? The biggest news of this report was that #FirstTimeHomeBuyers reflected 34% of buyers and that is the highest it has been in 4 years. And with many first time buyers not always needing to buy during the “selling season” that could be a sign to a busy winter and spring selling season?
Geoffrey Davis, #FriscoMortgageGuy

December Fed rate hike?

October 14, 2016

I believe the #FED raises their #rates the day they have their December press conference. Question is, will #MortgageRates go up or down?
What do you think? #MortgageRates have gone up .25% this week – will they move higher?

The CoreLogic report

October 12, 2016

#CoreLogic report shows 351,000 homes in #foreclosure vs 499,000 last year & well down from 1.5 million in 2011. Not helping already low housing inventory!

To note, only 2.8% of homes shown as Seriously Delinquent and that is the best number in 9 years!

Frisco recycling 

September 28, 2016

Do you sometimes find yourself with more cardboard in your Frisco recycling bin, full a day or 2 after trash day? Did you know that you can take said recycling down to the Frisco Environmental Services location on Walnut St weekdays from 8 to 4 and drop off free of charge? 

Well now you do!!!

The 2015 numbers are in!!

March 7, 2016

It is an honor to be a Top Performer here at First United, I closed $25,991,144 in loans in 2015 putting me 11th overall out of 98 other loan officers here!  
Not me but you, thanks so much for your trust and support over these last 14 years doing loans!! 


My Keurig

February 4, 2016

“Hope you like Pacific Bold” my wife’s comment after buying me a case of Kirkland #coffee for my @Keurig not bad!