Brian Kovaleski's (bkovaleski) Blog

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Mortgage and Lending - CrossCountry Mortgage, LLC 80845, 3029 - 80845, 3029
RECENT BLOG POSTS
A fantasic analysis of the current pitfalls involved with Banks and REO properties, as well as advice on how to avoid or correct some of them.  A great read if you specialize in this area of the mortgage industry or are thinking about getting into it! I am a Loan Officer with Best Rate Carolinas...
06/20/2011
Is everyone enjoying all the changes in the industry?  I know us Loan Officers are!  The Dodd-Frank bill has essentially put new bare minimum loan amounts in place for LOs that want to work them.  For example, many are setting a cutoff of say $100,000 as a bare minimum loan amount to make the dea...
04/27/2011
Down payment assistance programs are regaining their popularity.  As the refinance boom comes to an end, more and more home buyers are looking to get into the bottomed out housing market.  While Realtors have been familiar with local and federal down payment assistance programs for years, you wan...
04/21/2011
This post came from our partner site Best Rate Carolinas the other day regarding no credit score home shoppers.  The largest caveat is that they have to be able to verify their last 12 months rent with canceled checks (no handwritten receipts from private landlords).  Other than that they only ne...
04/15/2011
This coming Monday, April 18th 2011, the FHA is increasing (again) the rate for monthly mortgage insurance on their loans.   FHA increasing monthly mortgage insurance All FHA MIP rates are going up by 25bps.  This includes the 15 year loan below 90%, which previously carried zero MIP. The example...
04/13/2011
Richard Glesser posted this great update to his blog about being an appraiser.  He brings up many good points, one of which is the declining number of appraisers in various areas around the country.  What goes hand in hand with reduced supply is higher prices for the customer.  We've already star...
04/11/2011
How many of you have gotten one of those Free Credit Report jingles stuck in your head?  You're not alone; millions of others have too.  But as a Real Estate Agent (or Loan Officer), how many times has a customer come to you after pulling their own score, but then got scored lower by the actual l...
04/11/2011
There was a very good article on Mortgage News Daily going into a bit more depth about what would happen to the loan process in the even of a government shut down (original article here). In an nutshell, here is what they recommend keeping an eye on: Veteran's Administration loans should be fine ...
04/08/2011
Last Friday's (April Fool's) stay against implementing the new Loan Officer compensation rules was only a temporary extension.  This week the law goes live, and we've already seen changes in the industry. Again, a lot of this goes back to the margins that lenders have to earn to keep their doors ...
04/07/2011
Realtors: make sure you are keeping current with the lending environment.  Lower credit score requirements for most home buyers have recently been reduced to a 600.  This is down from a 640 credit score that was required even a few short months ago.  You would be amazed how many people fall into ...
04/05/2011
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Brian Kovaleski

Mortgage Loans - North Carolina South Carolina
local_phone(704) 909-5387
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