Above and Beyond for My Clients

Follow me
By
Mortgage and Lending - Homestreet Bank - NMLS #404052
RECENT BLOG POSTS
I remember a few years ago when it was so easy to get a VOD.  It listed average daily balance, current balance, and any loans outstanding.   Now, either a lender will not accept a VOD or if they will accept a VOD, it has to be ordered by someone in the Processing and Underwriting Department, not ...
05/13/2009
Just when I thought that there would be no more changes, they keep coming. If you did not already know, first of this year, for FHA cash out refinance transactions over 85% LTV, two appraisals are required.    In addition to this appraisal requirement, the elimination of Down Payment Assistance f...
01/28/2009
With the negativity, the job losses, the collapse of some of our largest banking institutions out there, is it a wonder that we have been able to keep our sanity?  For all of you, whether you are a realtor, loan officer, appraiser, escrow officer, or inspector, I am sure we can all agree that 200...
11/23/2008
Just when I thought that lending would not get any tighter than it has since the latter part of 2007, the screws keep tightening.     The silver lining is that, because of all of this mess, and because we have had virtually no subprime, my customers are slowly but surely getting used to all of th...
11/01/2008
I recently closed a transaction for a veteran that was 100% financing with seller covering $5000 in closing costs.  The seller was the veteran's sister, a non-arms length transaction. VA is fine with that, it never even got questioned by our underwriters.  He was renting the home, was paying cash...
07/24/2008
Given that in Washington state alone, in which you now have to obtain licensing to originate loans if you are a mortgage broker, nearly 60% of the originators in 2007 did not renew for 2008.   Being a former mortgage broker, I saw the writing on the wall last fall and began searching for a "safer...
07/09/2008
For those of you who know me and have worked with me, I have always been one to "play defense". That means I prefer to run through what-if scenarios, present potential obstacles of a loan process and offer pointers to customers, realtors, etc to help overcome or better yet, prevent these obstacle...
07/02/2008
For you loan officers and realtors that have been in this business for a while, are you finding customers becoming less and less appreciative of what you do for them than in the past?  In this tough market and especially with the elimination of many programs, one would think that customers would ...
06/29/2008
Us mortgage professionals go through this grind on a daily basis.  We spend at least an hour working with prospects on the phone to determine their needs, another couple of hours inputting their loan information, decisioning the loan, structuring the loan to fit their needs, only to call them bac...
06/14/2008
I have had several comments and questions  in the past week from customers and/or prospects asking why rates are up above 6% and why their rate is higher now than it was when I did their loan several years ago or why, with our economy the way it is and why, with short-term rate cuts, are rates "s...
06/13/2008
Rainer
37,579

Paul W. Thompson

Going Above and Beyond...
local_phone(360) 356-3458
smartphone(503) 810-1119
Contact The Author
Paul Thompson's 411