Musings and Thoughts from Western Colorado

  Everywhere, I look there is discussion about ratios.  An agent texted me this past weekend about what "generic ratios" to use.....  that is a loaded statement......  "generic ratios to use".  After all there have been 2 excellent post about Rule of thumb being 3 Times income for a loan amount b...

   So you want a CASH OUT REFI on a manufactured home????? (one of my new loan officers takes this call) No problem, say I.  Hows your credit?  and income and .....  why? well there are a few programs and only a few, but the thing you need to worry about is how they change from FHA to Conventiona...

 RING RING, now who is calling me this early on a Friday morning......  "Good Morning, Major Mortgage How can I help YOU?"  Oh Hi Lenn ,  .....  (you will only hear my side of this conversation since I hate speakerphone)   .....  You have an interesting scenario there Lenn, wish I had them here i...

Mr. Belonger  has written another wonderful post about payment versus rate and that got me to thinking about a client of mine or 2.   About a year ago this young couple came to be and they wanted to get start the process of looking to buy their first home.  So we pull their credit and lets just s...

 Yesterday in my office we had a debate on why I give my clients a copy of their credit report and that lead into a discussion of the laws the protect and govern credit.  And while a review of these 3 laws would take thousands upon thousands of words, being the brave or foolish blogger that I am,...

   I just love having new loan officers in the office, the topics of conversation are endless......  Today, we get a referral from a Realtor that Bank XYZ has told this client that FHA guidelines are 3 years out of bankruptcy..... So my loan officer comes to me and no it is still 2 years..... So ...

  There has been some discussion about HUD trying to do away with DPA (down payment assistance programs) and how loans that have utilized DPA have a "higher rate of foreclosure".  Now I wonder if they really do or if it is just a sign of the tough times; after all every loan program has a much hi...

  DING DING... the bell has rung for round 1......  Ok just chill out and read what I have to type....... Most of your clients that have credit difficulties ARE NOT IN NEED OF CREDIT REPAIR....... especially if the mortgage professional is willing to spend some time and understand credit.   Now, ...

Thats right it is that time again.  Have a little lunch and learn a little about the dark side of the business, otherwise known as the Mortgage Profession.  And to be honest, this is a timely topic today; after all I have read and heard about Mortgage Professionals not pre qualifing your buyer co...

Lets start our Jam Band set with.... Well one of my favorites   Please Welcome to your audio receivers Jethro Tull FAT MAN Now this next band might not be on your list, but this just might me the best rock band of all time and listen to the words of this song  Closer to the Heart   I do hope our ...