The U.S. House of Representatives passed a bill to allow for the increase of conforming loan limits in areas where values are much higher than the national average. This will have a HUGE impact on areas like California where home values are averaging close to 600K in some areas.
Conforming loan limits are currently $417,000 and [...]

Popularity: 5% [?]

The best thing a person can do to become a good loan officer is to gain a working awareness of what happens AFTER you submit the loan. It is in processing that these loans are won or lost.
There is a good supply of training materials available but some of them are pretty pricey. I have [...]

Popularity: 4% [?]

Refinancing can be an expensive and time consuming process. The ability to manage our personal financial situation without refinancing every 5 years is extremely valuable.
In our standard mortgage we have no flexibility at all. Anything we pay into it is permanent. This makes most homeowners reluctant to put extra cash into their homes. It can’t [...]

Popularity: 5% [?]

All adjustable mortgaged have what is known as a CAP. This is the highest your interest rate can go. Unfortunately, it is usually much higher than the average homeowner is comfortable with. In almost all cases there are better options through refinance.
Many of these adjustable loans are coupled with a 2 or 3 year prepayment [...]

Popularity: 3% [?]