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Showing posts from March, 2013

Sending Wishes Your Way for a Very Happy Easter

Sending Wishes Your Way for a Very Happy Easter



     Life gets busy ... especially on the holidays ...

     So I wanted to make sure I wrote this blog wishing all a very Happy Easter and wonderful holiday weekend.


Marilyn and I will have our family together.  A real, but rare treat these days.

The little "cutie" you see to the right  is our little grandbaby, Marilyn.  She will be in attendance along with her daddy, our son John and mommy, Sandi.  

     Her little cousin Henry will be in tow, as well .. along with his daddy, our son Tom and mommy, Jenny.  We're lucky to have my Mom celebrating the day with us too. We've been gathering and making Easter goodies for weeks now.

     No matter who you celebrate with or how you choose to celebrate this beautiful holiday.  May it make you happy and fill you with great joy ...


Gene



"Mortgage Anatomy 101" ... the Current Mortgage Process, Part 3"

"Mortgage Anatomy 101" ... 
the Current Mortgage Process, Part 3"

In Part 1 of the post,  "Mortgage Anatomy 101" ... the Current Mortgage Process"  ... I detailed much of what happens in the initial portion of your mortgage process. In Part 2, I dug a little deeper into the mortgageprocess and touched upon your mortgage file's submission into  Underwriting, the Underwriting itself, and then Loan Approval.       In this Part 3, the last article in the series, I will talk about the Closing of your home's financing.  Your Mortgage Closing is the culmination of all your hard work and effort over the last weeks.  It represents the successful completion of your Mortgage Process.   It represents the fulfillment of your dream.        Once your Mortgage Lender has received the Underwriter's blessing to Close, your Loan Processor "directs" your mortgage file to your Lender's Closing Department.  All information contained within your file is re…

David, not Goliath, is Perfect for the Job

David, notGoliath, is Perfect for the Job

     I often hear the line, "I talked to .... (fill in the name of a BIGBank) ... and they told me that they will give me a loan at (fill in a ridiculously low interest rate)".  I wish I had a dollar for every time I've heard it.

When I hear that said, I know that mentally a line has been drawn by that potential client.  I know thatany conversation held and any information received will be compared to what the lender at the "BIG Bank" told them.  Their info will be the measuring stick by which Iam judged. Why?  That "BIG Bank"is a known name ... a franchise, if you will.  And whether they are known for good or bad reasons, their name is familiar and easily recognizable. 
Me?  I work for  American Portfolio Mortgage Corp.  And while my company is well-known and trusted in the areas in which it is located at this time ... and growing quickly into being well-known and trusted in many more ... it still does not have q…

"Mortgage Anatomy 101" ... the Current Mortgage Process, Part 2"

"Mortgage Anatomy 101" ...  the Current Mortgage Process, Part 2"

In Part 1 of the post, "Mortgage Anatomy 101" ... the Current Mortgage Process" ... I detailed much of what happens in the initial portion of your mortgage process.

     In Part 2, I will continue to dig deeper into the mortgage
process and touch upon your mortgage file's submission into Underwriting, the Underwriting itself, and then Loan Approval.

At this portion of the mortgage process, your  Loan Officer  and Loan Processor have reviewed your file and agreed that it is ready for submission into Underwriting.  All of the documentation requested of the Borrower is in and the Appraisal Report has also been received by the Loan Processor.  (Remember:Loan Officers and Appraisers must maintain a "separation" during the Appraisal process.)  

     Your Loan Officer and Loan Processor have reviewed the completed Appraisal for accuracy, reported value, repairs needed (if any), or any unus…

"Mortgage Anatomy 101" ... the Current Mortgage Process, Part 1

"Mortgage Anatomy 101" ...  the Current Mortgage Process, Part 1

There's no doubt about it ... the current mortgage transaction bares little resemblance to the transaction that took place even a few years ago.  The process has definitely evolved.

     I liken these changes, to say Fred Flintstoneevolving into Iron Man.  Initially fairly simplistic, with few details ... eventually turning into very sophisticated and advanced.  

     For clients that have navigated a mortgage process even a few years ago or prior, the current process may seem almost unrecognizable.  They'll face a vast learning curve when Refinancing or buying a new home now.

     Much has been made of all the changes that have occurred.  And I think that some of the talk has taken a toll on the psyche of those contemplating entering it.  It might haven even scared a number of them off.  That's not good.

     So, I decided a "Mortgage Anatomy 101" class regarding the mortgage process might be …