Category Archives: Mortgage Approval Process
← Older postsWhat does your credit score mean?
March 15, 2011Your credit score is a number between 300 and 850. Credit Score Range Meaning 750 – 850 A is excellent credit 700 – 750 B is good credit 600 – 700 C is average 500 – 600 D is poor … Continue reading
Rates are even lower and tax credits may be extended
July 1, 2010It’s a busy week in the news for potential homebuyers. First, both 15-year and 30-year loans hit record lows for the second week in a row. Second, as Reuters reports, the tax credit extension has passed a key hurdle: The … Continue reading
#Albuquerque among MSAs removed from "distressed" list
June 22, 2010Good 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 … Continue reading
Final days for 'seller concessions'
June 1, 2010The writing is on the wall for funds for homebuyers from sellers that can pay for some services and taxes in the transaction. As the Washington Post explains, Say you’re buying a $200,000 house. If you are using FHA [Federal Housing Administration] … Continue reading
Home loans: Many leap without looking
April 29, 2010As buyers rush to take advantage of the homebuyer tax credit, an important fact is being highlighted: Moving too quickly can be costly. You may race to get the tax credit but end up losing more than that in a … Continue reading
Owners get help in choosing short sale over foreclosure
April 23, 2010Homeowners will now have incentives to agree to a short sale (the process of selling for less than is owed on a home) thanks to new federal rules instituted earlier this month. A foreclosure hurts an owner’s credit rating for … Continue reading
Wait time halved for some distressed borrowers
April 19, 2010Great news for mortgage shoppers who have been hampered by a deed-in-lieu of foreclosure transaction–Fannie Mae is potentially cutting your hold time in half. You’ll have to put 20 percent down, but if you can, Fannie says you don’t have … Continue reading
3rd-party e-signatures now OK for FHA insurance application
April 13, 2010The department of Housing and Urban Development (HUD) will now allow electronic signatures on third-party documents as part of the Federal Housing Administration (FHA) mortgage insurance application. In a mortgagee letter released last week, HUD said the policy is effective … Continue reading
Reverse mortgages: What are they?
April 13, 2010Many people don’t realize that Frost Mortgage’s expertise also extends to “reverse mortgages.” In fact, it’s one of our specialties, and we have a full-time staff member dedicated to this unique program. So, what is a reverse mortgage? As the … Continue reading
Today: FHA upfront premiums rise for mortgage insurance
April 5, 2010The Department of Housing and Urban development is reminding the mortgage industry that, starting today (April 5, 2010), an upfront mortgage insurance premium of 2.25 percent will be collected “for purchase money and refinance transactions, including FHA-to-FHA credit qualifying and non-credit … Continue reading
-
Archives
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- November 2009
- September 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
-
Meta
-
Greg Frost's Corner
I recently attended the annual Mortgage Bankers Association lobbying day in D.C. with 5 of my industry colleagues from New Mexico. It was a very insightful experience.
It is apparent to me that there is a prevailing feeling in both the House and Senate, along with the Executive Branch, that our government should reduce [...]
Copyright © 2011 Frost Mortgage Lending Group
2501 Wyoming Blvd. NE, Suite A, Albuquerque, NM 87112