Blog Archives

Home Loan Programs Part I

Home Loan Programs Part I

When shopping for a home loan it can be challenging to understand all the different home loan programs there are to choose from.  Having a thorough understanding to what there is to offer is vital to making sure that you are aligned with the best program for your circumstances.  Below are just some of the conventional conforming and non-conforming programs that are available to consumers.  Read the rest of this entry

Foundations of the Mortgage Industry (Part II)

Foundations of the Mortgage Industry (Part II)

There are two markets that structure the mortgage industry.

  1. The primary market:  Where loans are originated.  This consists of Brokers, Mortgage Loan Officers, Banks, Credit Unions and Thrifts.
  2. The secondary market:  Where loans are sold.  This consists of Fannie Mae (FNMA), Freddie Mac (FHLMC), Ginnie Mae (GNMA), Wall Street, and wholesale line of credit accounts.  Interesting to note, FHA, VA, and USDA are in neither market.  Read the rest of this entry

Foundations of the Mortgage Industry

Foundations of the Mortgage Industry

Understanding the foundations of the mortgage industry can be very helpful when venturing into for the first time.  Even if you have some experience with getting financed for a home, knowing and understanding these foundations can give you an upper hand when shopping for the best deal.  Let’s get started.  The fact is that 93% of homes in America are financed through either the private sector or government sector.  The breakdowns of these sectors are below. Read the rest of this entry

What Is Your Credit All About?

What Is Your Credit All About?

Understanding how your credit works is vital in today’s world.  Nowadays, it seems that your credit matters more than how much cash you have in the bank.  So here is a summary of what it’s all about.  The three big credit agencies are Experian, Equifax, and TransUnion, also known as repositories.  Each agency uses a scoring system from the information reported to them about consumers.  TransUnion’s uses what is called a Vantage Score, while Experian and Equifax is FICO or Beacon.  Within these agencies there are three types of credit reports that can be pulled.  Read the rest of this entry

90-Day “Notice to Vacate” – PTFA

90-Day “Notice to Vacate” – PTFA

As we have previously discussed, the federal government enacted the Protecting Tenants at Foreclosure Act of 2009 (PTFA), to afford tenants some safeguards from being abruptly evicted once their home was sold after foreclosure.

I recently handled a pro bono case which inspired me to discuss the 90-day notice requirement under the PTFA. Read the rest of this entry