Increase Sales With Underused Loan Products By C.J. Coury With the tightening of mortgage loan underwriting criteria we have experienced a much higher percentage of cash buyers than at any time since the creation of Fannie Mae. This phenomenon will continue to forestall the housing recovery for months to come unless we work harder to find ways to provide financing to those buyers who do not have the ability to pay cash. One way to help combat the effects of the increased difficulty in obtaining financing is to look beyond the standard mortgage loan products to some of the less […]
Will The New FHA Short Refinance Program Help Stem The Foreclosure Tide? By C. J. Coury Many of you have asked me what I expect the market impact to be of the newly released government program that calls for some principal reduction on the part of the lender. This is the FHA Short Refinance Program and here are the highlights of it: Program dates are 9/7/2010 to 12/31/2012 Borrower must owe more on their first mortgage than the property is worth Program is for primary residence occupancy only Mortgage being refinanced must be current Borrower’s […]
Appraisals 2010 Seminar Series Continues. Real estate professionals who are losing real estate deals because of bad home appraisals will benefit from a series of appraisal seminars scheduled for the fall.
Communication Is Key By C. J. Coury Now more than ever it is critical to communicate with your buyers who are purchasing with the assistance of mortgage financing. Mortgage lenders have developed many new processes with the intent of eliminating as much fraud as possible. This increased scrutiny includes the utilization of electronic resources to help verify much of the information contained in the loan application. It is therefore paramount that the mortgage applicant is as honest, open and thorough as possible with the lenders Loan Officer. It is also imperative that the Loan Officer take the time to conduct […]
Getting Sound Appraisals In Today’s Market. In today’s uncertain real estate climate, it is not unheard of to receive a property appraisal that is less than the buyer is willing to pay, essentially killing the deal for the seller. Real estate professionals agree that part of the problem is the use of appraisal management companies
Melissa Coury Joins HomeBanc In Lakewood Ranch. Tampa-based HomeBancorp named Melissa Coury as Mortgage Loan Officer for HomeBanc. She is based in HomeBanc’s office in Lakewood Ranch
C.J. Coury And HomeBanc To Sponsor “Appraisals 2010” Seminar Series. Realtors, homebuyers and homesellers who are losing real estate deals because of low-ball appraisals from out-of-town appraisal management companies will benefit from a series of appraisal seminars sponsored by HomeBanc.
Mortgage Underwriting Guidelines Beginning To Ease By C. J. Coury I have been looking forward to writing about this topic for months now – the time has finally come! Over the past 2 years or so we have been witnessing the end of a much too liberal lending era. Unfortunately, the change in direction went too far and stayed too long. To quote the top mortgage professional Penny Hill “the pendulum has swung too far in the other direction and is stuck on stupid”. I am pleased to announce that it is finally beginning to swing back to the level […]
Wednesday, December 1, 2010
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