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Redefining Sustainable Homeownership: Lessons Learned from the VA

A long, hard look at the continuing stability of the VA Loan Guaranty program should be requisite for those helping to reshape and redefine sustainable homeownership in America. These flexible loans continue to outperform the field in terms of delinquencies and defaults, despite the fact that nine in...

Posted to Community Commentary (Weblog) by Chris Birk on Fri, Oct 22 2010

Re: Loan Scenario: CA, $275,000, 742, 92% LTV, Purchase

We can do this deal. We are a family owned retail mortgage banker lending since 1932. Contact me for details. Leon Franklin Sr. Mortgage Banker Office: 951-296-6066 ext.105 Cell: 951-775-8094 Fax: 951-296-5171 leon.franklin@wvmb.com www.wvmb.com APPLY ONLINE HERE http://www.wvmb.com/leonfranklin/index...

Posted to Loan Scenarios (Forum) by Leon Franklin on Sat, Sep 25 2010

Re: VA Hybrid Refinance 3/1, Questions GFE review?

Dan, There is nothing wrong with that program providing you understand how it works, and that is a competitive rate. The one question, and probably the most important one, that in 25 years in the mortgage business I have never once had a consumer ask when discussing an ARM is "What is the margin...

Posted to Mortgage Questions (Forum) by Harlan Cooper on Thu, Sep 16 2010

VA Hybrid Refinance 3/1, Questions GFE review?

Hi everyone, You have always been a great resource for those like me who really know very little about mortgages. I have been on the internet a lot lately looking to find someone to refi my VA 5.25% Loan to 4.25% or lower. So in the course of looking for places to get quotes I come across "I hope...

Posted to Mortgage Questions (Forum) by Dan Myers on Thu, Sep 16 2010

Loan Scenario: GA, $229,900, 740, 100% LTV, Purchase

[Scenario] First time use of VA entitlement. Need someone who can write this in GA

Posted to Loan Scenarios (Forum) by C Rivera on Tue, Jul 27 2010

Re: Clause that Determines if a Mortgage can be Assumed

Your question wasn't entirely clear, but FYI, FHA and VA loans are assumable. Meaning, a buyer of your home can take over payments on your loan. People do this when current interest rates are high and the current homeowner has a low rate mortgage. Otherwise, it is of little benefit since the new...

Posted to Mortgage Questions (Forum) by Carol Lloyd on Sun, Jun 6 2010

Re: Will VA loans still be profitable?

[quote user="Eddie Rogers"]With RESPA requiring a credit to the borrower of any YSP and VA's limit of 1%, I question whether we will make enough money to justify the time spent on VA loans.[/quote] This is just another nail in the coffin of the broker. While the intent of VA is to limit...

Posted to General Mortgage Discussion (Forum) by Bryan Bledsoe on Fri, Feb 5 2010

Re: Seller Can Pay for 'New Furniture' in a Purchase Transaction?

Yes it's true. VA allows the seller to pay all of the veterans allowable closing costs and pre-paid items including normal discount points. In addition, they allow for seller concession up to 4% of the sales price. Seller concessions can be used for a variety of items and the following is copied...

Posted to Mortgage Questions (Forum) by Bryan Bledsoe on Tue, Jan 26 2010

Lenders, Title Companies, Third Party Vendors and the Mobile Notary Debacle on the HUD-1

It is becoming apparent as each loan closes in Rural America or anywhere in America, where Lenders who have built in title company's or even closing agencies to handle the hiring of mobile services for notaries to perform closings outside of title companies but instead inside the owner's home...

Posted to Other Questions (Forum) by Jinean Florom on Wed, Dec 2 2009

Re: Questions About The VA IRRRL Program

Kelly, The IRRRL requires the current deed holders to remain on the new loan. So that won't work. You will have to qualify for a standard VA which of course means a new funding fee and the typical credit and income qualifications. So you first step is finding a lender/broker. I would suggest using...

Posted to Mortgage Questions (Forum) by Clem Borkowski on Sun, Nov 29 2009

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