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Victor Burek
Mortgage Planner, Open Mortgage
on Thu Apr 24 2014, 3:36 PM
wells retail would be at most 4.25 with that rebate...like OO said, nobody can compete with retail on jumbos now
Steve Chizmadia
Mortgage Consultant, MLO# 244902, American Capital Home Loans, A division of Pinnacle Capital Mortgage Coporation
on Thu Apr 24 2014, 3:35 PM
MM, I'm at .625 with $4,500 back to borrower towards cost or 4.5 with $2,500 back
Oliver Orlicki
Senior Loan Originator, Innovative Mortgage Services
on Thu Apr 24 2014, 3:35 PM
4% with credits? No way
Steve Chizmadia
Mortgage Consultant, MLO# 244902, American Capital Home Loans, A division of Pinnacle Capital Mortgage Coporation
on Thu Apr 24 2014, 3:35 PM
People with lower Max comp in their comp plan can
Oliver Orlicki
Senior Loan Originator, Innovative Mortgage Services
on Thu Apr 24 2014, 3:35 PM
no one can compete on jumbos right now with retail
Victor Burek
Mortgage Planner, Open Mortgage
on Thu Apr 24 2014, 3:34 PM
sure would be nice to get a relief rally after supply is done
Steve Chizmadia
Mortgage Consultant, MLO# 244902, American Capital Home Loans, A division of Pinnacle Capital Mortgage Coporation
on Thu Apr 24 2014, 3:34 PM
This what you are looking for CM http://mndne.ws/1mJ3X9n
Christopher Max
Senior Loan Officer, New England Regional Mortgage
on Thu Apr 24 2014, 3:34 PM
Anyone know which mortgagee letter references FHA appraisals regarding flips? I am trying to google it but having a hard time finding it
Scott Valins
Principal, Scott Capital Group
on Thu Apr 24 2014, 3:34 PM
ill take boring
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Thu Apr 24 2014, 3:34 PM
Boring!
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Thu Apr 24 2014, 3:33 PM
RTRS - U.S. SELLS $29 BLN 7-YEAR NOTES AT HIGH YIELD 2.317 PCT, AWARDS 47.26 PCT OF BIDS AT HIGH
Victor Burek
Mortgage Planner, Open Mortgage
on Thu Apr 24 2014, 3:33 PM
auction time
Sung Kim
Originator / LO, McLean Mortgage Corp.
on Thu Apr 24 2014, 11:34 AM
There pluses and minuses for sure with WF. Unfortunately the big plus is their pricing now
akaagassi
Mortgage Loan Originator, US Bank
on Thu Apr 24 2014, 11:34 AM
yeah, on a purchase i'd be at 4.0%
Craig Stanislaw
Originator / LO, A Plus Mortgage Services
on Thu Apr 24 2014, 11:34 AM
Wells Retail quoted a borrower 4% in our area... People are doing loans for free right now....
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Thu Apr 24 2014, 11:31 AM
but don't take my word for it. http://mndne.ws/1iQz6ET
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Thu Apr 24 2014, 11:31 AM
Stock lever. We didn't find our footing until stocks started falling
Jeff Anderson
Loan Officer, Salem Five
on Thu Apr 24 2014, 11:31 AM
I'm not too surprised. Durables was a bit of a bounce back and claims went up. I think neither was enough to give traders much direction. Unless they're buying VB's Apple.
Sung Kim
Originator / LO, McLean Mortgage Corp.
on Thu Apr 24 2014, 11:31 AM
Shocked we are flat
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Thu Apr 24 2014, 11:29 AM
RTRS- US CONTINUED CLAIMS FELL TO 2.680 MLN (CONS. 2.750 MLN) APRIL 12 WEEK, LOWEST SINCE DEC 2007, FROM 2.741 MLN PRIOR WEEK (PREV 2.739 MLN)
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Thu Apr 24 2014, 11:29 AM
RTRS- US MARCH DURABLES ORDERS +2.6 PCT, LARGEST RISE SINCE NOV 2013 (CONSENSUS +2.0 PCT) VS FEB +2.1 PCT (PREV +2.2 PCT)
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Thu Apr 24 2014, 11:29 AM
RTRS- US JOBLESS CLAIMS ROSE TO 329,000 APRIL 19 WEEK (CONSENSUS 310,000) FROM 305,000 PRIOR WEEK (PREVIOUS 304,000)
Christopher Stevens
Secondary Marketing Manager, Premium Mortgage Corp
on Thu Apr 24 2014, 11:29 AM
Great Day Ahead MG. Sharing in my managers meeting today.
Hugh W. Page
Senior Mortgage Consultant, M.B.A., Capital Partners Mortgage, LLC
on Wed Apr 23 2014, 4:13 PM
If it's on his W2's, you have a history, and you can get continuance verified I would go to battle on that one.
Ira Selwin
Vice President of Secondary Marketing, US Mortgage Corporation
on Wed Apr 23 2014, 4:13 PM
right, but its not income. so wouldnt you just follow any asset for income guideline?
Chip Harris
President, Integrity Financial LLC
on Wed Apr 23 2014, 4:13 PM
yes
Ira Selwin
Vice President of Secondary Marketing, US Mortgage Corporation
on Wed Apr 23 2014, 4:13 PM
you mean he gets assets
Chip Harris
President, Integrity Financial LLC
on Wed Apr 23 2014, 4:12 PM
It's not capital gains though IRA. He works for Starbucks and gets 7% of his salary in Starbucks stock
Ira Selwin
Vice President of Secondary Marketing, US Mortgage Corporation
on Wed Apr 23 2014, 4:12 PM
search under capital gains
on Wed Apr 23 2014, 4:12 PM
Not sure about Freddie, Chip.....but Fannie does not allow.
Chip Harris
President, Integrity Financial LLC
on Wed Apr 23 2014, 4:12 PM
So, does anyone know where I can find Freddie's stance on Stock Options? I have scouored the UW guide and can;t see it anywhere.
Victor Burek
Mortgage Planner, Open Mortgage
on Tue Apr 22 2014, 2:45 PM
his W2 income isn't guaranteed either
Ira Selwin
Vice President of Secondary Marketing, US Mortgage Corporation
on Tue Apr 22 2014, 2:45 PM
Develop an average income from the last two years (according to the Variable Income section of B3-3.1-01, General Income Information), and use the averaged amount as part of the borrower’s qualifying income as long as the borrower provides evidence that he or she owns additional property or assets that can be sold if extra income is needed to make future mortgage loan payments.
Ira Selwin
Vice President of Secondary Marketing, US Mortgage Corporation
on Tue Apr 22 2014, 2:45 PM
Fannie allows it
Sung Kim
Originator / LO, McLean Mortgage Corp.
on Tue Apr 22 2014, 2:45 PM
that is a tough one chip
Chip Harris
President, Integrity Financial LLC
on Tue Apr 22 2014, 2:45 PM
I have an underwriter that won;t let me use stock options for a Starbucks Manager that has a two year history and they show on his VOE and on his W2s and paystubs when he sells them every year. She says that those are not guaranteed so we can;t count them.
Jason Anker
Originator / LO, Salem Five
on Tue Apr 22 2014, 2:39 PM
Chip its your OOC prop w/ income
Chip Harris
President, Integrity Financial LLC
on Tue Apr 22 2014, 2:39 PM
How shoudl I classify a duplex on the schedule of REO? Lives in half, rents half. Do I put it in as a rental?
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Tue Apr 22 2014, 10:44 AM
RTRS- US MARCH INVENTORY OF HOMES FOR SALE 1.99 MLN UNITS; 5.2 MONTHS' WORTH, HIGHEST SINCE APRIL 2013
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Tue Apr 22 2014, 10:44 AM
RTRS - US MARCH EXISTING HOME SALES 4.59 MLN UNIT ANNUAL RATE, LOWEST SINCE JULY 2012 (CONSENSUS 4.55 MLN), VS FEB 4.60 MLN (PREV 4.60 MLN)-NAR
Ira Selwin
Vice President of Secondary Marketing, US Mortgage Corporation
on Tue Apr 22 2014, 10:44 AM
Sent to me by Chris Stevens - http://mndne.ws/1hkrXaS
Ira Selwin
Vice President of Secondary Marketing, US Mortgage Corporation
on Tue Apr 22 2014, 10:44 AM
Point being, they aren't the only ones
Ira Selwin
Vice President of Secondary Marketing, US Mortgage Corporation
on Tue Apr 22 2014, 10:44 AM
"Chase's mortgage numbers reflect those of the industry: net income was $114 million, a decrease of $559 million from the prior year"
Ira Selwin
Vice President of Secondary Marketing, US Mortgage Corporation
on Tue Apr 22 2014, 10:44 AM
http://mndne.ws/1lQj2TD
Sung Kim
Originator / LO, McLean Mortgage Corp.
on Tue Apr 22 2014, 10:43 AM
we all talk about builder owned mortgage companies quite often, that is from NVR Inc.'s press release last night
Sung Kim
Originator / LO, McLean Mortgage Corp.
on Tue Apr 22 2014, 10:43 AM
Mortgage Banking Mortgage closed loan production of $472,933,000 for the three months ended March 31, 2014 was flat when compared to the first quarter ended March 31, 2013. Operating income for the mortgage banking operations during the first quarter of 2014 decreased 91% to $991,000, when compared to $11,161,000 reported for the first quarter of 2013. Operating income in the first quarter of 2014 was negatively impacted by a more competitive mortgage lending market, resulting in reduced loan
joon choi
Senior Loan Officer, Chicago Financial Services, Inc.
on Mon Apr 21 2014, 2:42 PM
3.375
BP
on Mon Apr 21 2014, 2:42 PM
3.375%, where are you at Joon?
joon choi
Senior Loan Officer, Chicago Financial Services, Inc.
on Mon Apr 21 2014, 2:42 PM
what are you guys quoting for 15yr 210k, 70ltv 794fico, no esrow
Hugh W. Page
Senior Mortgage Consultant, M.B.A., Capital Partners Mortgage, LLC
on Mon Apr 21 2014, 2:41 PM
If anyone has closed a Homepath Renovation loan (or Freddie's equivalent) you have nothing but utter respect and admiration from me.
 

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