Latest Articles

Part 4 of 7: The Loan Officer Compensation Rule

The Dodd-Frank Act ensures that loan officers can’t ever earn any more or less money by selling a specific loan.   It’s time for section four of our seven-part series talking about reform and mortgages. Specifically, today we’re going to talk about how lenders and loan officers get paid. In the past, loan officers and lenders […]

Part 2 of 7: The Dodd-Frank Act and CFPB

The Dodd-Frank Act created the CFPB, one of the strongest federal agencies we’ve ever seen. Here’s why it was created and how it works. On part two of our series about what has changed since the mortgage meltdown, we’re taking a closer look at the Dodd-Frank Act and specifically, the Consumer Finance Protection Bureau. The […]

A Solution to Mortgage Approval Changes

Recent changes were made to the mortgage algorithms that approve homebuyers, but there’s a solution to these changes. Many of the ways we lenders look at risk in terms of approving mortgages are through algorithms, and important changes to these algorithms were made on July 20 this year. Specifically, these changes affect the way these […]

A Secret About FHA Mortgages

FHA mortgages have a unique feature that makes them a powerful tool when it comes time to sell your home. I have a secret about FHA financing that I’d like to share with you today. I love FHA financing. I look at it as the federal government’s way of saying YES. FHA mortgages are federally […]

What You Should Know About Escrow Accounts

Today, let’s talk about some of the advantages and disadvantages of escrow and impound accounts. Here’s what you need to know. An escrow, otherwise known as an impound account, actually relates to who is in charge of paying for the property taxes on a home, as well as the homeowners insurance. So will you pay […]

When Can You Remove Your Mortgage Insurance

For most homebuyers, mortgage insurance doesn’t last forever. Here’s when you can remove it. For most of us, the answer is no. Eventually, you have the option of removing it. The lone exception, however, is if you used FHA financing and a low down payment for your mortgage. For those homebuyers, their mortgage insurance lasts […]