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akaagassi

Mortgage Loan Officer

Sacramento, California 95670

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Advice and Perspective from a Professional Pipeline Manager

I consider myself a lucky guy. Standing in my inner circle are a group of highly experienced industry leaders. It's been this way for me since day 1. Anyone know Joan Walton? They've seen it all. From application to securitization, I've got someone to...

Posted to MBS Commentary by Adam Quinones on Thu, Aug 5 2010
Can Mortgage Rates Go Any Lower?

Well, here we are on "hump day" and mortgage rates are still detached from the price fluctuations of the secondary mortgage market. Instead, the ups and downs of consumer borrowing costs continue to be driven primarily by the capacity constraints...

Posted to Mortgage Rate Watch by Adam Quinones on Wed, Jul 28 2010
Class differentiation and future dollar roll settlement dates

I stumbled across this after a little research, fueled by the initial direction/guidance of Matt and Adam. The following is a link to the 2009 SIFMA (Securities Industry and Financial Markets Association) Settlement Dates calendar: http://www.sifma.org...

Posted to MBS Discussion by Steven Bote on Mon, Jan 12 2009
Re: A Standard Impound Collection Chart

Bob Hill: The impound amount should be 14 minus the number of payments before the bill is due. This accounts for the 2 month cushion that the banks are allowed to have. This is the calculation if the bill is paid 1 time per year. If it is paid 2x per...

Posted to General Mortgage Discussion by Kent Mikkola #353976 on Mon, Jun 29 2009
Re: Amerisave-- 3/20/09-- DoThey Lie?

Quote on both web page, then supported on the phone by LO, and also sent to me at the time in email: 4.75% with zero cost (no points, no fees). So $35 application fee, and $350 appraisal fee, was paid, along with agreement to $500 "lock cancellation...

Posted to General Mortgage Discussion by David Smyth on Sat, Aug 22 2009
Re: Determine the Refund of Upfront MP for Streamline Refinance Loans

You will get the refund amount when you receive your case number. If you want to estimate it before then (getting the case number will take a day), you can use the chart in the following Mortgageee Letter: http://portal.hud.gov/pls/portal/docs/PAGE/FHA_HOME...

Posted to General Mortgage Discussion by Kent Mikkola #353976 on Thu, Feb 19 2009
Re: FHA Guidelines Link

Here are a few others I use often: http://portal.hud.gov/portal/page?_pageid=73,1&_dad=portal&_schema=PORTAL http://www.huduser.org/ https://entp.hud.gov/idapp/html/hicostlook.cfm

Posted to Knowledge Base by Kent Mikkola #353976 on Tue, Dec 9 2008
Re: FHA Streamlines w/o appraisal 2008 mortgage limits

MIP is calculated as follows and is contained in HUD Mortgagee Letter 2008-16 Refund of Upfront Premiums . Refunds of upfront premiums are available to borrowers refinancing to another FHA-insured mortgage within a three-year time period, as shown below...

Posted to Loan Scenarios by Bryan Bledsoe on Mon, Jan 12 2009
Re: How do you use the information from MND, MBS Live, and the MBS Blog?

I think the biggest problem many LOs have is quoting a rate that is not available and floating in the hopes that the market will hit that rate. If you educate your customers, you will have the advantage over your competition because of the insight you...

Posted to General Mortgage Discussion by Kent Mikkola #353976 on Wed, Jan 21 2009
Re: SPREAD: What is the Average "Spread" that an A Paper Wholesaler would like to maintain?

Curt, As I mentioned in another thread, the interest rate on the underlying loans in a MBS is typically around 0.5% higher than the pass-through coupon rate. This 1/2% difference is the servicing and guaranty premium. The guaranty premium charged by Ginnie...

Posted to MBS Discussion by Harlan Cooper on Sat, Jan 10 2009

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