Author Archives: theloanman

Handling of Collections & Disputed Accounts In an effort to reduce risk in backing mortgage loans, HUD has once again revised its regulations, effective October 15. Mortgage Letter 2013-24 deals with credit analysis of collections and judgments, and outlines how … Continue reading →

Dual agency is defined as a real estate transaction in which one agent represents both buyer and seller in a real estate purchase. Years ago, all agents represented the seller in every transaction. The buyer might or might not have … Continue reading →

When the FHA Loan Guidelines change on October 15, it will be good news for thousands of would-be homeowners who fell into financial difficulties in the recent downturn. Under the new guidelines set forth in Mortgage Letter 2013–25, it will … Continue reading →

We all know what borrowers want – a lender who will get them the loan they want quickly – and at the lowest possible rate with the lowest possible fees. We’re pleased to say we meet that want for home … Continue reading →

The news is out: Bankrate.com did a survey of 2013 Closing Costs and learned that in most states they have risen 6% over 2012 costs. Loan origination fees jumped the most – going up 8.4%. Why? Is it really costing … Continue reading →

A new battle is heating up in Congress, as lawmakers debate the demise of Fannie Mae and Freddie Mac. These government-controlled mortgage guarantee giants either own or guarantee nearly half of all U.S. mortgages – including nearly 90% of all … Continue reading →

Dallas Morning news recently published a report indicating that the average cost of a $200,000 home loan in the U.S. ranged from a low of $2,119 in Wisconsin to a high of $2,919 in Hawaii. This figure excludes the cost … Continue reading →

Those of us who live here know that Texas has a lot to offer: great universities, sports teams, cultural and civic attractions, good weather more of the time than not, and friendly people. But… some other communities also offer similar … Continue reading →

Several factors can prevent a mortgage loan from closing on time – or from closing at all. Those reasons include loss of a job or changing jobs, failing to pay bills on time, making application for a new credit card, … Continue reading →

Texas was one of the last States to enter the recession and is now leading the recovery. In fact, as of December 2012, there were more people employed in Texas than ever before – and there are more people. According … Continue reading →