I’m back to blogging after some much needed travel, catching up on personal appointments, and finalizing some other business projects. If you’re interested, check out my new venture at www.CypressParkBoxingClub.com
Today I want to talk about the importance of locking in the terms and conditions of a purchase transaction much sooner then the industry is accustomed to. Read the rest of this entry »
One of the challenges I face is the perception that I occasionally have below average follow-up skills as a loan originator. Missed phone calls from clients, and the occasional delay in returning those calls frustrate some of my clients and referral sources. I understand how this can be frustrating.
Fortunately, for my clients, this is a just a perception and not a reality. Read the rest of this entry »
In today’s market, many clients simply do not show enough income or assets to qualify for a home loan by themselves.
One way to still be able to purchase a home or refinance your existing mortgage is to find a co-signer. Read the rest of this entry »
I receive a lot of questions regarding the timing of rate locks. Various banks and lending institutions handle rate locks differently, here is my method… Read the rest of this entry »
Although many of our clients here in Los Angeles are small business owners, work in the entertainment industry, or have other forms of non-traditional employment; several of my clients still have ‘traditional’ employment, rental income, or retirement income.
Now that 99% of loans are being underwritten as full documentation or ‘verified’ loans, here is a list of the minimum information you will need to provide to your lender to prove your income. Read the rest of this entry »
A newer loan condition I’m seeing on virtually all loan approvals is the underwriter’s request to “source” deposits. It use to be that if there was a substantial deposit, in the $10K or greater range, into a bank account used for approval; underwriters wanted to know where those monies came from.
Unfortunately, like most lending conditions in our current market, this requirement has been taken to the extreme. Read the rest of this entry »
