FREE MORTGAGE NEWS 4U.COM by Brenda Jarvis

December 16, 2008

"And I love this idea. Congress wants to promote a car czar to oversee the auto industry. You know, even if he's half as successful as Bill Bennett was as the drug czar, oh, our problems will be solved. A car czar. What democracy has a czar?" --Jay Leno "Why is it every time we have a government crisis, we reverse to feudalism? We need a mortgage duke. A duke of mortgages. We need an energy ayatollah in this country." --       Jay Leno "Well, it looks like the automakers are going Read Full Article

October 27, 2008

The still-tight credit markets are anticipating a half-point interest rate cut from the Federal Reserve this week, but investors are worried it won't be enough to quickly revive the economy.   The Fed has been slashing rates and taking unprecedented action to get market participants back in the lending mood, including launching a facility Monday to buy the short-term corporate debt known as commercial paper. But the central bank has already reduced its key rate—the Read Full Article

October 9, 2008

If you did not see the 60 minutes show on Sunday October 5th then you missed a great opportunity to understand the underlying issues that are plaguing our financial markets today. Understanding how all the pieces fit will help you as a consumer and a mortgage professional better understand why and how credit works for and against us. This explains the bigger picture of why our economy can be so affected by 6% of mortgages going bad. Most consumers are saying I am paying my mortgage Read Full Article

October 4, 2008

How many mortgage brokers say (or have said) my job is finished when the deal funds? This statement is so inaccurate; on so many levels, there is not enough time in the day to discuss all of them. I am going to focus on just a couple of things that brokers refuse to believe is their responsibility, and what all brokers need to do to maintain our existence in the financial community and prosper. Relationships start long before the deal closes, and last until the loan leaves Read Full Article

October 3, 2008

As a mortgage professional, your job is to understand a client’s full financial situation and needs. You need to be part mortgage professional, part attorney, part CPA and part financial advisor. The more you know, and the more you bring to the table, the more you can help. And the more you help, the more loyalty you will see from your clients. With that in mind, I would like to focus on two financial vehicles – 1031 exchange and its lesser known cousin, the 121 exclusion. Both deal Read Full Article

October 3, 2008

WASHINGTON, D.C. (October 1, 2008) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending September 26, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 455.4, a decrease of 23.0 percent on a seasonally adjusted basis from 591.4 one week earlier. On an unadjusted basis, the Index decreased 23.4 percent compared with the previous week and was down 28.4 percent compared with the same week one Read Full Article