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HLS
ParticipantHi Bob…
I appreciate your comments.
I am not a web designer. I don’t know anything about “raising search engine rankings” and don’t expect anyone to find my site by accident.
The links are there to be helpful, and when it comes to loans, I DO focus on them.
I have done loans for a few from this site. I’ll let them come forward if they are following the thread.
I say what I do, and do what I say. I’m not aware of any complaints about my service, ever.
I’m not out to fool anyone. People do a fine job of fooling themselves.
I have rates & strategies available that most others either don’t have, don’t know or are too lazy to deal with. I also have access to credit score help that few have.
The DISNEY link on my site has been popular. For those that don’t know, Disneyland is offering FREE admission on your birthday in 2009. No strings attached, you just need to register.
Yes, the link is on my website.
No, I don’t make a penny from it.Bob, If I benefit from that link, I don’t know/why that is…
If you want help with a loan, feel free to check with me. I can’t do them for free, but I watch rates like a hawk.
I know the games and gimmicks that others play, and I will tell you.
For those that want help or want to truly understand what they are doing for the largest financial transaction of their lives, you get what you pay for.I’m just trying to be helpful, with more than just loans. HLS
ParticipantThe govt ISN’T going to “allow” EVERYONE to do a 4.50% loan.
Banks don’t own loans.
Banks won’t be reducing the balance of loans.There is no profit to a bank to borrow short and lend long. They may have a servicing division, which may as well be called COCA COLA.
A modification adjusts the payment, it DOESN’T adjust the loan balance, value of the house, the last sale price or the tax assessed value.
Many liars did get purchase loans for investment properties a few years ago, it is unlikely to happen today. They often did it with the help of a dishonest mortgage “professional”
You have no idea what an underwriter looks for today when it comes to loan fraud, and the third party proof they get to verify owner occupied.
As of today, there is no govt plan in place to offer 4.50% loans to anybody on this planet, purchasers or refinancing.
If there is a plan ever in place, wait until you see the cost/fees.
Everybody got excited about the FHA Hope for Homeowners before the details were announced.
Pure foolishness…
It came with ridiculous fees. It was voluntary. It’s been a complete disaster.Rumors of these govt plans do nothing more than get the masses hopeful to drag out the eventual outcome, and keeps many from walking away sooner rather than later.
ParticipantThe govt ISN’T going to “allow” EVERYONE to do a 4.50% loan.
Banks don’t own loans.
Banks won’t be reducing the balance of loans.There is no profit to a bank to borrow short and lend long. They may have a servicing division, which may as well be called COCA COLA.
A modification adjusts the payment, it DOESN’T adjust the loan balance, value of the house, the last sale price or the tax assessed value.
Many liars did get purchase loans for investment properties a few years ago, it is unlikely to happen today. They often did it with the help of a dishonest mortgage “professional”
You have no idea what an underwriter looks for today when it comes to loan fraud, and the third party proof they get to verify owner occupied.
As of today, there is no govt plan in place to offer 4.50% loans to anybody on this planet, purchasers or refinancing.
If there is a plan ever in place, wait until you see the cost/fees.
Everybody got excited about the FHA Hope for Homeowners before the details were announced.
Pure foolishness…
It came with ridiculous fees. It was voluntary. It’s been a complete disaster.Rumors of these govt plans do nothing more than get the masses hopeful to drag out the eventual outcome, and keeps many from walking away sooner rather than later.
ParticipantThe govt ISN’T going to “allow” EVERYONE to do a 4.50% loan.
Banks don’t own loans.
Banks won’t be reducing the balance of loans.There is no profit to a bank to borrow short and lend long. They may have a servicing division, which may as well be called COCA COLA.
A modification adjusts the payment, it DOESN’T adjust the loan balance, value of the house, the last sale price or the tax assessed value.
Many liars did get purchase loans for investment properties a few years ago, it is unlikely to happen today. They often did it with the help of a dishonest mortgage “professional”
You have no idea what an underwriter looks for today when it comes to loan fraud, and the third party proof they get to verify owner occupied.
As of today, there is no govt plan in place to offer 4.50% loans to anybody on this planet, purchasers or refinancing.
If there is a plan ever in place, wait until you see the cost/fees.
Everybody got excited about the FHA Hope for Homeowners before the details were announced.
Pure foolishness…
It came with ridiculous fees. It was voluntary. It’s been a complete disaster.Rumors of these govt plans do nothing more than get the masses hopeful to drag out the eventual outcome, and keeps many from walking away sooner rather than later.
ParticipantThe govt ISN’T going to “allow” EVERYONE to do a 4.50% loan.
Banks don’t own loans.
Banks won’t be reducing the balance of loans.There is no profit to a bank to borrow short and lend long. They may have a servicing division, which may as well be called COCA COLA.
A modification adjusts the payment, it DOESN’T adjust the loan balance, value of the house, the last sale price or the tax assessed value.
Many liars did get purchase loans for investment properties a few years ago, it is unlikely to happen today. They often did it with the help of a dishonest mortgage “professional”
You have no idea what an underwriter looks for today when it comes to loan fraud, and the third party proof they get to verify owner occupied.
As of today, there is no govt plan in place to offer 4.50% loans to anybody on this planet, purchasers or refinancing.
If there is a plan ever in place, wait until you see the cost/fees.
Everybody got excited about the FHA Hope for Homeowners before the details were announced.
Pure foolishness…
It came with ridiculous fees. It was voluntary. It’s been a complete disaster.Rumors of these govt plans do nothing more than get the masses hopeful to drag out the eventual outcome, and keeps many from walking away sooner rather than later.
ParticipantThe govt ISN’T going to “allow” EVERYONE to do a 4.50% loan.
Banks don’t own loans.
Banks won’t be reducing the balance of loans.There is no profit to a bank to borrow short and lend long. They may have a servicing division, which may as well be called COCA COLA.
A modification adjusts the payment, it DOESN’T adjust the loan balance, value of the house, the last sale price or the tax assessed value.
Many liars did get purchase loans for investment properties a few years ago, it is unlikely to happen today. They often did it with the help of a dishonest mortgage “professional”
You have no idea what an underwriter looks for today when it comes to loan fraud, and the third party proof they get to verify owner occupied.
As of today, there is no govt plan in place to offer 4.50% loans to anybody on this planet, purchasers or refinancing.
If there is a plan ever in place, wait until you see the cost/fees.
Everybody got excited about the FHA Hope for Homeowners before the details were announced.
Pure foolishness…
It came with ridiculous fees. It was voluntary. It’s been a complete disaster.Rumors of these govt plans do nothing more than get the masses hopeful to drag out the eventual outcome, and keeps many from walking away sooner rather than later.
ParticipantI predict riots and a revolution if there are loan balances cut for irresponsible homebuyers who lied about their income to buy a house that they cannot afford
BUT nothing gets done for those who played by the rules.Loan mods do not lower a loan balance. They keep a FB in la-la land thinking that they own a house.
Keeps the govt from admitting how big the problem is and dealing with another FC.
1) If you think this is going to actually happen, I think that you are dreaming.
2)It is against constitutional law to interfere in private contracts.
3) If it did happen, who in their right mind would ever want to buy mortgage backed securities knowing that the principal balance could be cut.
They will offer mods and forebearance to some, but I don’t see many cuts in loan balances coming.
It will take a foreclosure and a new transaction to have a lower loan balance on that property.
Maybe someone can come up with a name for the revolution…..
Right now we need C.R.A.P.
Citizens Revolting Against Paulson
HLSParticipantI predict riots and a revolution if there are loan balances cut for irresponsible homebuyers who lied about their income to buy a house that they cannot afford
BUT nothing gets done for those who played by the rules.Loan mods do not lower a loan balance. They keep a FB in la-la land thinking that they own a house.
Keeps the govt from admitting how big the problem is and dealing with another FC.
1) If you think this is going to actually happen, I think that you are dreaming.
2)It is against constitutional law to interfere in private contracts.
3) If it did happen, who in their right mind would ever want to buy mortgage backed securities knowing that the principal balance could be cut.
They will offer mods and forebearance to some, but I don’t see many cuts in loan balances coming.
It will take a foreclosure and a new transaction to have a lower loan balance on that property.
Maybe someone can come up with a name for the revolution…..
Right now we need C.R.A.P.
Citizens Revolting Against Paulson
HLSParticipantI predict riots and a revolution if there are loan balances cut for irresponsible homebuyers who lied about their income to buy a house that they cannot afford
BUT nothing gets done for those who played by the rules.Loan mods do not lower a loan balance. They keep a FB in la-la land thinking that they own a house.
Keeps the govt from admitting how big the problem is and dealing with another FC.
1) If you think this is going to actually happen, I think that you are dreaming.
2)It is against constitutional law to interfere in private contracts.
3) If it did happen, who in their right mind would ever want to buy mortgage backed securities knowing that the principal balance could be cut.
They will offer mods and forebearance to some, but I don’t see many cuts in loan balances coming.
It will take a foreclosure and a new transaction to have a lower loan balance on that property.
Maybe someone can come up with a name for the revolution…..
Right now we need C.R.A.P.
Citizens Revolting Against Paulson
HLSParticipantI predict riots and a revolution if there are loan balances cut for irresponsible homebuyers who lied about their income to buy a house that they cannot afford
BUT nothing gets done for those who played by the rules.Loan mods do not lower a loan balance. They keep a FB in la-la land thinking that they own a house.
Keeps the govt from admitting how big the problem is and dealing with another FC.
1) If you think this is going to actually happen, I think that you are dreaming.
2)It is against constitutional law to interfere in private contracts.
3) If it did happen, who in their right mind would ever want to buy mortgage backed securities knowing that the principal balance could be cut.
They will offer mods and forebearance to some, but I don’t see many cuts in loan balances coming.
It will take a foreclosure and a new transaction to have a lower loan balance on that property.
Maybe someone can come up with a name for the revolution…..
Right now we need C.R.A.P.
Citizens Revolting Against Paulson
HLSParticipantI predict riots and a revolution if there are loan balances cut for irresponsible homebuyers who lied about their income to buy a house that they cannot afford
BUT nothing gets done for those who played by the rules.Loan mods do not lower a loan balance. They keep a FB in la-la land thinking that they own a house.
Keeps the govt from admitting how big the problem is and dealing with another FC.
1) If you think this is going to actually happen, I think that you are dreaming.
2)It is against constitutional law to interfere in private contracts.
3) If it did happen, who in their right mind would ever want to buy mortgage backed securities knowing that the principal balance could be cut.
They will offer mods and forebearance to some, but I don’t see many cuts in loan balances coming.
It will take a foreclosure and a new transaction to have a lower loan balance on that property.
Maybe someone can come up with a name for the revolution…..
Right now we need C.R.A.P.
Citizens Revolting Against Paulson
HLSParticipantFNMA has a funky matrix table to determine loan pricing. The best rate possible is for a loan below 60% of the value and a mid credit score above 700.
The rate is the same for a 25% LTV loan with a 800 score.
If you score is 620-699 the same loan will cost .25% more at origination,(not in rate)At 80% of the value, you need a 740+ score for the best rate. A 739 score will cost .25% more.
There are various combinations in between, based on credit score and LTV.
These are FNMA guidelines that everyone has in pricing a loan.On a $400K loan @ 80%, a borrower with a 639 score would have to pay $11,000 up front to get the same rate as a borrower with a 740 score gets at no extra cost. Another option is to take a rate about 2 points higher instead.
What nobody understands is how buydowns are priced.
There is no set formula. 5 different lenders can all have different buydown costs at different rates.Different wholesale lenders have different rates as well, some are consistently higher.
A lender who has the best par rate is not the same lender that offers the best buydown rates.
Not every broker has access to every lender.
The best lenders dont want to deal with shady brokers. These brokers end up only having access to lenders with higher rates. When they tell you it’s the best rate that they have, it usually isn’t the best rate available.In the last 2 days, I had 30YR fixed with a small buydown at 4.875% and 5.00% was available with a .50% cost yesterday, but only for about an hour.
In the last 2 days, rates were the lowest that they have ever been in history. Rates moved up to 5.25% by the end of the day. They really do move that fast. HLS
ParticipantFNMA has a funky matrix table to determine loan pricing. The best rate possible is for a loan below 60% of the value and a mid credit score above 700.
The rate is the same for a 25% LTV loan with a 800 score.
If you score is 620-699 the same loan will cost .25% more at origination,(not in rate)At 80% of the value, you need a 740+ score for the best rate. A 739 score will cost .25% more.
There are various combinations in between, based on credit score and LTV.
These are FNMA guidelines that everyone has in pricing a loan.On a $400K loan @ 80%, a borrower with a 639 score would have to pay $11,000 up front to get the same rate as a borrower with a 740 score gets at no extra cost. Another option is to take a rate about 2 points higher instead.
What nobody understands is how buydowns are priced.
There is no set formula. 5 different lenders can all have different buydown costs at different rates.Different wholesale lenders have different rates as well, some are consistently higher.
A lender who has the best par rate is not the same lender that offers the best buydown rates.
Not every broker has access to every lender.
The best lenders dont want to deal with shady brokers. These brokers end up only having access to lenders with higher rates. When they tell you it’s the best rate that they have, it usually isn’t the best rate available.In the last 2 days, I had 30YR fixed with a small buydown at 4.875% and 5.00% was available with a .50% cost yesterday, but only for about an hour.
In the last 2 days, rates were the lowest that they have ever been in history. Rates moved up to 5.25% by the end of the day. They really do move that fast. HLS
ParticipantFNMA has a funky matrix table to determine loan pricing. The best rate possible is for a loan below 60% of the value and a mid credit score above 700.
The rate is the same for a 25% LTV loan with a 800 score.
If you score is 620-699 the same loan will cost .25% more at origination,(not in rate)At 80% of the value, you need a 740+ score for the best rate. A 739 score will cost .25% more.
There are various combinations in between, based on credit score and LTV.
These are FNMA guidelines that everyone has in pricing a loan.On a $400K loan @ 80%, a borrower with a 639 score would have to pay $11,000 up front to get the same rate as a borrower with a 740 score gets at no extra cost. Another option is to take a rate about 2 points higher instead.
What nobody understands is how buydowns are priced.
There is no set formula. 5 different lenders can all have different buydown costs at different rates.Different wholesale lenders have different rates as well, some are consistently higher.
A lender who has the best par rate is not the same lender that offers the best buydown rates.
Not every broker has access to every lender.
The best lenders dont want to deal with shady brokers. These brokers end up only having access to lenders with higher rates. When they tell you it’s the best rate that they have, it usually isn’t the best rate available.In the last 2 days, I had 30YR fixed with a small buydown at 4.875% and 5.00% was available with a .50% cost yesterday, but only for about an hour.
In the last 2 days, rates were the lowest that they have ever been in history. Rates moved up to 5.25% by the end of the day. They really do move that fast. HLS
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