Archive for the 'California' Category

#Albuquerque among MSAs removed from “distressed” list

June 22nd, 2010

Written by Frost Mortgage

Good news for the Duke City: Albuquerque is one of 105 metropolitan statistical areas (MSAs) to be taken off the PMI Distressed Markets List.

As MortgageDaily.com reports (subscription required), the change is part of a spate of positive news:

“Mortgage insurance companies are easing guidelines, increasing loan amounts and eliminating declining market status for many metropolitan areas. The relaxed standards are emerging as the sector is seeing improved conditions.”

Other areas removed from the list included Chicago, Los Angeles, New York City, Boston, Seattle and Washington, D.C.

The Federal Reserve Bank of San Francisco describes Private Mortgage Insurance (PMI) as “extra insurance that lenders require from most homebuyers who obtain loans that are more than 80 percent of their new home’s value. In other words, buyers with less than a 20 percent down payment are normally required to pay PMI.”

Here at Frost, we’re happy to see positive changes in the market that will make it easier for qualified buyers to access this invaluable resource.

If you are looking for a home loan for your next life move, please call us today and let us help you.

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[Photos] Art show a big success for Frost in Lancaster, CA

June 21st, 2010

Written by Frost Mortgage

Branch Manager Robert Shaffer of Frost Mortgage in Lancaster, California, has held a string of art exhibits that bring the community together. We told you recently that their newest show would feature not only their current in-house artists, but also some of the best high schoolers from around the Antelope Valley.

We’re pleased to present some photos from the event, which was a big success:

You may also be interested in photos of some of Lancaster’s other events: http://frostmortgage.com/events/#0610Lancaster

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Frost Mortgage: 19 branches and growing

May 5th, 2010

Written by Frost Mortgage

Many people may not realize the full reach of Frost Mortgage’s business operations. As we’ve noted in our ad in National Mortgage Professional, we can tap up to up to $2 billion of monthly warehouse capacity with 48-hour underwriting. So whether you’re a Producing Branch Manager looking for a Branch Partner opportunity or you’re looking to borrow, Frost has what you need.

For both our partners and potential borrowers, the great news is that our geographic reach has grown to national proportions. In addition to our home base of New Mexico (including Albuquerque and in fact the whole state), our Branches are now serving buyers from (click anywhere to find a loan officer in one of these locations) California (both northern California and other areas such as Santa Rosa, Irvine, Laguna Hills, Solana Beach, Santa Ana, Westlake Village and Lancaster), Florida (Miami and Jupiter), on up to Virginia (Winchester) and Maryland (Abingdon and Upper Marlboro), then back to the middle of the country in states such as Texas (Dallas and Lewisville), Ohio (Lancaster), Illinois (St. Charles), Missouri (Ofallon) and Colorado (Greenwood Village). With all these locations, it’s likely we can help you as you look for your next home. What’s more, we’ll respond quickly.

So please, call us today and learn more about why Frost Mortgage doesn’t just close loans–we open doors.

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Hope for housing in Southern California

April 22nd, 2010

Written by Frost Mortgage

According to the Los Angeles Times, Southern California could be on the verge of a housing recovery:

“The median price paid for a home rose 14% in March to $285,000 from a year earlier, according to MDA DataQuick. Higher-priced coastal markets saw more activity, and fewer foreclosures were for sale.”

Our loan officers and Branch Partners can help you wherever you’re looking for a mortgage in California. Please, give us a call today and learn more about why we don’t just close loans–we open doors.

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