Christopher Wong's (cwong) Blog

Effective Tuesday, September 1, conforming mortgage approvals are due to toughen up again. Fannie Mae is imposing strict new lending guidelines that should slow down purchase and refinance activity in Cincinnati and parts elsewhere. In a public announcement, Fannie Mae defends its pending changes...

  Security Based Lending   FUNDS AGAINST ALL TYPES OF SECURITIES (Except 401K). WORLDWIDE   USE THIS PROGRAM TO REFINANCE A MORTGAGE OR FUND A MAJOR PROJECT. No limit on dollar amount. Protect Your Stock Portfolio AND Get Cash. Our securities-based loan program allows you to leverage your securit...

Mortgage Markets In Review : December 29, 2008 In a week defined by low volume and lack of conviction, mortgage markets idled ahead of the holiday last week.  Friday's post-holiday action was even slower. After falling for two consecutive weeks, mortgage rates held flat last week. It's somewhat ...

We are the only bank in IL still offering these combo loans up to 95%,  please contact if you need help!   I have had a huge flow of business from other loan officers and agents the past couple of months.  The main reason-  products that I can offer.  While the second mortgages have disappeared w...

I have had a huge flow of business from other loan officers and agents the past couple of months.  The main reason-  products that I can offer.  While the second mortgages have disappeared with most investors, we are still offering HELOC's up to 95% on purchase transactions.  With a 680, it's aro...

CreditXpert Inc. has released a new credit scoring system that has the ability to filter out authorized user accounts, allowing banks and mortgage lenders to see the difference in scoring when such accounts are removed.The filter could drop many borrowers' credit scores tremendously, either disqu...

It seems like a simple question: What's the national average rate these days for a fixed-rate, 30-year mortgage? But the answers are all over the lot. Here are three that you can find in a quick tour of the Internet: 5.83%6.37%6.44%That's not too comforting for loan shoppers who are trying to dec...

I can confirm that rates did drop...but not mortgage rates.  The rate the Fed lowered 0.5% is the overnight lending rate.  This is the rate that the Fed charges banks to borrow funds overnight because all federally chartered banks need a certain amount of liquid cash at all times.  So unless you ...