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Welcome, Tommy Xintaris!
Please join me in welcoming Tommy Xintaris as our newest author on Mortgages Unzipped. Tommy has over 9 years of finance experience, and is currently a Mortgage Consultant at American Homefront...
View ArticleGetting Offers Accepted With VA Home Loans
I hosted a webinar tonight about VA home loans, targeted at REALTORS, to better help them understand: how to present VA offers that get accepted. the alternative underwriting model the VA uses for...
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Bernie Madoff's victims and Option Arm Mortgage Borrowers?
I read this column in the New York Times today and it brought to life a couple of very concrete lessons that I’ve learned over the years. These are lessons that apply to both victims of Bernie Madoff...
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This One Is Dedicated To All You Loan Officers Out There
I always knew it was a fact, but I chose to leave it somewhere deep in the dark recesses of my mind in places I don’t like to shine the light on very often. My adventure of torturing my boss using the...
View ArticleTrend Reversal: Lock-In Bias Is Back
I wasn’t sure about the new trend of higher mortgage rates. The nagging thought was that the Fed would continue or expand it’s open checkbook policy, buy mortgage bonds, and keep home loan rates...
View ArticleTurn Your 30-Year Mortgage into a 25-Year Mortgage
Okay, I know this might sound like an infomercial, but it’s not. Ramit, NYTimes best-selling author of I Will Teach You To Be Rich and I have been collaborating to find ways to save big chunks...
View ArticleChoosing The Right Lender
Choosing the right lender for you can sometimes be overwhelming. How do you find the right one? It can be overwhelming browsing the yellow pages, online and referrals from others. Getting a mortgage...
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What is the difference between a loan officer, mortgage broker, lender,...
What are the differences between these mortgage professionals and why is it important? We will try to shed some light on their roles and how they affect you, the borrower. Let's start by looking at...
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Refinance Closing Costs Don't Matter
Yeah, thought that might get your attention. Let me clarify the headline. Of course it matters how much you pay for something, but it doesn’t matter by itself. It only matters in the context of the...
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Smart Mortgage Shopper, Part 1
Yesterday I had a client in my office (I’ll call her Marie) to work on a purchase loan. She was referred by her Realtor to a fellow across town that she had started working with. She liked him. He...
View ArticleThe Challenge.....
I for the life of me cannot understand why the Government or Consumers care about YSP (yield spread premium) or broker compensation! The Challenge—-Can anyone name a product or service that the...
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National Registry of Home Lenders
Last year, the Secure and Fair Enforcement (S.A.F.E.) Mortgage Licensing Act of 2008 was signed into law as part of the Housing and Economic Recovery Act. This law outlines procedures, requirements,...
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How The New Government Regulations Impact Your Closing Dates
On July 30, 2009 the new Housing and Economic Recovery Act (HERA) regulations will go into effect. They require all mortgage lenders and brokers to help prevent deceptive lending practices and protect...
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But My Rate Was Locked, Wasn't It?
This morning we got a question over on the “Ask Zillow” side that reminded me again that the jargon in the lender world is imperfectly understood by the general borrowing public. No, strike that. My...
View ArticleThe Mortgage Broker Trade Off
These days, shopping for a loan involves more than your average rate comparison. The lowest interest rate doesn't necessarily yield the best mortgage to fit your needs. For example – did you know...
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Plain Vanilla Protection vs. Consumer Education
President Barack Obama recently proposed that all lenders offer "plain vanilla" mortgages so consumers could understand the loan terms and the risks associated with the mortgages. The proposal...
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Who Pays VA Non-Allowable Closing Costs?
VA mortgages are a great way for those who served in the United States Armed Forces to purchase a home. Many Southern California sellers have rejected offers using VA financing because they believe...
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Welcome Our Newest Contributor, Eleanor Thorne
Please join me in welcoming Eleanor Thorne of North Carolina to our roster of awesome writers. Eleanor is a veteran mortgage expert with over 25 years experience that includes ownership of 2 mortgage...
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How to Find a Great Mortgage Rate
There are a number of ways to find the best mortgage rates, but all require a little bit of work on your behalf. The key to all the methods is shopping around, since you can't really determine if a...
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Back to the Fundamentals: How much money do I need to put down?
If there is one component that predicts more than any other whether a home owner will continue making payments when times get tough, it's this one. At some point in the process of struggling to make...
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