|
|
Mortgage Loan Processing |
  What's NewNLP launches new website 6/1/06 geared toward mortgage brokers, lenders and mortgage processors...
Learn how to become a mortgage loan processor with LoanProcessorTraining.org...
My Now providing contract mortgage underwriting services...
|
|||||||||||
|
Mortgage Loan Processor News -- Bookmark this page! Enjoy reading the latest news on mortgage loan processing, mortgage loan news, mortgage interest rates, contract mortgage processing, mortgage loan processor jobs and more!
Friday, May 14, 2004
San Antonio, Texas Offers New Opportunities To Homebuyers
by Blanche Evans
San Antonio, Texas is historically significant, romantic to visit and offers good quality of life, say local Realtors. "San Antonio is truly a beautiful city," says Realtor Estela Haese, "The greatest thing about being here is the fact that this city has something that many other cities do not: Heart. Its people are friendly and helpful, its culture and history are fascinating, and its weather is warm. Our thriving housing industry has led to a steady outward expansion, with many beautiful neighborhoods popping up all over." "Here are a few facts about San Antonio that may convince you to join us here in the Heart of Texas," explains Haese. "San Antonio ranked 13th in job growth out of all cities in the United States, and Texas ranked third out of all the states. Low mortgage interest rates, increased housing construction, and the Internet have created a bustling, diverse real estate market. Rising property values have provided many great opportunities for investors. Wherever you go, entertainment isn't far away. San Antonio has attractions for everyone; theme parks such as Sea World, Six Flags, Fiesta Texas; historical landmarks like the Alamo; annual celebrations that include Fiesta and the Rodeo; sizzling nightlife at the Riverwalk and St. Mary strip; over a dozen major movie theatres, many sports teams including the San Antonio Spurs; many malls and other shopping opportunities, and fine dining of all sorts." Says Realtor Tricia Curbello, "Northwest San Antonio is one of the fastest-growing areas of San Antonio known for its excellent schools and family-oriented atmosphere. This area is close to major military bases with easy access to downtown or the Hill Country." Curbello advises, "There are many buyers looking to settle in this area where most homes are priced under $150,000.00. It is definitely a seller's market in homes priced under $100,000.00 as a seller can expect many offers on a well-maintained home. Homes priced between $100,000 - $200,000 are in a neutral market and generally sell within 60 to 120 days. There is a slight buyer's market in homes priced from $200,000 to $500,000 as there are more homes than financially able buyers, espeically in homes priced over $500,000.00." About the increase in jobs, Realtor Sam Schifano says, "San Antonio is the future home of the PGA with two championship golf courses. Toyota will start production of the Tundra truck line in 2006 which will create thousands of new jobs." He suggests, "Forty percent of the homes sold in 2004 were under $100,000. Forty-three percent from $100-200,000 dollars. Ten percent between $200,000 and $299,999 and the remaining seven percent above $300,000. San Antonio experienced a seven percent increase in home values in 2003, and 2004 continues to increase this upward trend. The hottest areas for growth continue to be the Northwest and Northcentral areas. With interest rates creeping up, we are beginning to see more buyers making the move to buy instead of waiting. Compared to other real estate markets, San Antonio still has very affordable homes." Published: May 14, 2004 Blanche Evans is the publisher of Agent News and the associate editor of Realty Times, the Internet's largest independent real estate news service. She is the author of two best-selling real estate books: The Hottest e-Careers In Real Estate, Real Estate Education Company, an Internet marketing primer for real estate professionals, and homesurfing.net: The Insider's Guide To Buying And Selling Your Home Using The Internet, Dearborn, a consumer homebuying and selling guide. In 2000, she was recognized by the editors of REALTOR(r) Magazines as one of the "25 Most Influential People In Real Estate," and in 2003 when the "Most Influential" list was updated, she was recognized as one of nine "Notables." She is also a frequent contributor to "Your Money" on CNN fn. Copyright © 2004 Realty Times. All Rights Reserved.
Long-Term Mortgage Rates At Highest Level In Nine Months On News Of Substantial Job Growth Last Month
McLEAN, VA -- In Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 6.34 percent, with an average 0.7 point, for the week ending May 13, 2004, up from last week when it averaged 6.12 percent. Last year at this time, the 30-year FRM averaged 5.45 percent.
The average for the 15-year FRM this week is 5.72 percent, with an average 0.7 point, up from last week when it averaged 5.47 percent. A year ago, the 15-year FRM averaged 4.84 percent. One-year Treasury-indexed adjustable-rate mortgages (ARMs) averaged 3.90 percent this week, with an average 0.7 point, up from last week when it averaged 3.76 percent. At this time last year, the one-year ARM averaged 3.67 percent. "Last month's huge surge in employment figures reaffirmed market expectations that the Fed will move sooner now rather than later," said Frank Nothaft, Freddie Mac vice president and chief economist. "This put pressure on the bond market, and as yields grew, so did mortgage rates. "The Producer Price Index (PPI) came out today higher than had been expected, due primarily to the continuing rise in energy prices. The Consumer Price Index (CPI) will come out tomorrow and with that the focus of concern shifts away from the lack of job growth and towards inflation as a deciding factor for the Fed in determining the timing of future action." Published: May 14, 2004 Copyright © 2004 Realty Times. All Rights Reserved.
Rent Backs Can Benefit Or Bite Seller
by M. Anthony Carr
Various scenarios can force sellers into a rent-back situation. This is when the homeowner sells the property but does not move right away and strikes a rental agreement with the new owner to stay in the property for a designated period of time. A rent-back can provide several benefits for both the buyer and the seller. There are various reasons for a rent-back which is usually requested by the seller: Sellers want to finish out the school term for their children before moving out of the house. A new job may not open in time for the seller to move to a new location until several weeks after the planned closing. Construction on a new home may not be complete before settlement. The seller may still need to find their home of choice in a resale property. For the buyer, a rent-back can have several benefits as well. In general, if a seller is asking for a rent-back, this is a major concession. Fair market rent is not really viable in this scenario. As the new owner, try to get a little more than the going rent for your neighborhood. Short-term rentals are much more expensive than year-long rentals -- your lease should reflect that difference. The seller should expect to pay a couple hundred dollars extra per month for delaying the buyer moving in and for the benefit of avoiding temporary housing elsewhere. With an inflated rental fee, the buyer/new owner could make a pretty good profit for the length of time the seller/now renter is in the property. Some loan programs will not let the buyer settle without taking possession of the property, so check with your loan officer first before agreeing to this type of arrangement. Since it's a rental agreement, don't forget to cover several issues you would cover in a regular rental: condition, rental amount (possibly per day), deposits, condition of property, etc. Now this is the time when a rent-back agreement can turn on both the buyer and seller. It can get especially sticky if the sale was in an as-is condition basis -- the question may arise, "As-is when?" When the house was sold or when the old sellers are moving out? Get these ironed out and written in an agreement before moving forward with a post-sale, occupancy, rent-back agreement. There's nothing like damaged property from a "renter" to sour an otherwise pleasant transaction. Even if you've signed a property disclaimer form (meaning that the seller doesn't give any warranty as to the condition of the property) if the buyer can prove that something in the house was in working order or not damaged when they bought the house, then the old owner may end up paying for repairs out of his or her own back pocket. The buyer should conduct a thorough -- fine-tooth comb -- walk-through with the seller and be particular about any damage you see. Note any spots on the carpet -- lift rugs and furniture, look at how many holes are in the walls from pictures, inspect windows for cracks and breaks, and request a professional cleaning on the way out. Some buyers don't like the idea of someone living in "their" house after they've just bought it. In other terms, it's the same as if you bought a new car but then the dealer wanted to drive around in it for a couple of months before delivering it to you. Consider if that's the type of arrangement you want before signing the post-sale occupancy agreement. If there is damage afterward, then the buyer and seller are going to have to work it out. You may want to have an arbitrator predesignated in the rental agreement so that you both already know what to do before this type of situation arises. After all, the original intent is to sell the property and exchange ownership -- not create a rental where common wear and tear are expected. Published: May 14, 2004 Mr. Carr has covered real estate for more than 15 years. He is authoring “Street Guide to Real Estate,” due out 2004 through www.AmacomBooks.org. He can be reached via email at manthonycarr@erols.com. Copyright © 2004 Realty Times. All Rights Reserved.
Rent Backs Can Benefit Or Bite Seller
by M. Anthony Carr
Various scenarios can force sellers into a rent-back situation. This is when the homeowner sells the property but does not move right away and strikes a rental agreement with the new owner to stay in the property for a designated period of time. A rent-back can provide several benefits for both the buyer and the seller. There are various reasons for a rent-back which is usually requested by the seller: Sellers want to finish out the school term for their children before moving out of the house. A new job may not open in time for the seller to move to a new location until several weeks after the planned closing. Construction on a new home may not be complete before settlement. The seller may still need to find their home of choice in a resale property. For the buyer, a rent-back can have several benefits as well. In general, if a seller is asking for a rent-back, this is a major concession. Fair market rent is not really viable in this scenario. As the new owner, try to get a little more than the going rent for your neighborhood. Short-term rentals are much more expensive than year-long rentals -- your lease should reflect that difference. The seller should expect to pay a couple hundred dollars extra per month for delaying the buyer moving in and for the benefit of avoiding temporary housing elsewhere. With an inflated rental fee, the buyer/new owner could make a pretty good profit for the length of time the seller/now renter is in the property. Some loan programs will not let the buyer settle without taking possession of the property, so check with your loan officer first before agreeing to this type of arrangement. Since it's a rental agreement, don't forget to cover several issues you would cover in a regular rental: condition, rental amount (possibly per day), deposits, condition of property, etc. Now this is the time when a rent-back agreement can turn on both the buyer and seller. It can get especially sticky if the sale was in an as-is condition basis -- the question may arise, "As-is when?" When the house was sold or when the old sellers are moving out? Get these ironed out and written in an agreement before moving forward with a post-sale, occupancy, rent-back agreement. There's nothing like damaged property from a "renter" to sour an otherwise pleasant transaction. Even if you've signed a property disclaimer form (meaning that the seller doesn't give any warranty as to the condition of the property) if the buyer can prove that something in the house was in working order or not damaged when they bought the house, then the old owner may end up paying for repairs out of his or her own back pocket. The buyer should conduct a thorough -- fine-tooth comb -- walk-through with the seller and be particular about any damage you see. Note any spots on the carpet -- lift rugs and furniture, look at how many holes are in the walls from pictures, inspect windows for cracks and breaks, and request a professional cleaning on the way out. Some buyers don't like the idea of someone living in "their" house after they've just bought it. In other terms, it's the same as if you bought a new car but then the dealer wanted to drive around in it for a couple of months before delivering it to you. Consider if that's the type of arrangement you want before signing the post-sale occupancy agreement. If there is damage afterward, then the buyer and seller are going to have to work it out. You may want to have an arbitrator predesignated in the rental agreement so that you both already know what to do before this type of situation arises. After all, the original intent is to sell the property and exchange ownership -- not create a rental where common wear and tear are expected. Published: May 14, 2004 Mr. Carr has covered real estate for more than 15 years. He is authoring “Street Guide to Real Estate,” due out 2004 through www.AmacomBooks.org. He can be reached via email at manthonycarr@erols.com. Copyright © 2004 Realty Times. All Rights Reserved.
Rent Backs Can Benefit Or Bite Seller
by M. Anthony Carr
Various scenarios can force sellers into a rent-back situation. This is when the homeowner sells the property but does not move right away and strikes a rental agreement with the new owner to stay in the property for a designated period of time. A rent-back can provide several benefits for both the buyer and the seller. There are various reasons for a rent-back which is usually requested by the seller: Sellers want to finish out the school term for their children before moving out of the house. A new job may not open in time for the seller to move to a new location until several weeks after the planned closing. Construction on a new home may not be complete before settlement. The seller may still need to find their home of choice in a resale property. For the buyer, a rent-back can have several benefits as well. In general, if a seller is asking for a rent-back, this is a major concession. Fair market rent is not really viable in this scenario. As the new owner, try to get a little more than the going rent for your neighborhood. Short-term rentals are much more expensive than year-long rentals -- your lease should reflect that difference. The seller should expect to pay a couple hundred dollars extra per month for delaying the buyer moving in and for the benefit of avoiding temporary housing elsewhere. With an inflated rental fee, the buyer/new owner could make a pretty good profit for the length of time the seller/now renter is in the property. Some loan programs will not let the buyer settle without taking possession of the property, so check with your loan officer first before agreeing to this type of arrangement. Since it's a rental agreement, don't forget to cover several issues you would cover in a regular rental: condition, rental amount (possibly per day), deposits, condition of property, etc. Now this is the time when a rent-back agreement can turn on both the buyer and seller. It can get especially sticky if the sale was in an as-is condition basis -- the question may arise, "As-is when?" When the house was sold or when the old sellers are moving out? Get these ironed out and written in an agreement before moving forward with a post-sale, occupancy, rent-back agreement. There's nothing like damaged property from a "renter" to sour an otherwise pleasant transaction. Even if you've signed a property disclaimer form (meaning that the seller doesn't give any warranty as to the condition of the property) if the buyer can prove that something in the house was in working order or not damaged when they bought the house, then the old owner may end up paying for repairs out of his or her own back pocket. The buyer should conduct a thorough -- fine-tooth comb -- walk-through with the seller and be particular about any damage you see. Note any spots on the carpet -- lift rugs and furniture, look at how many holes are in the walls from pictures, inspect windows for cracks and breaks, and request a professional cleaning on the way out. Some buyers don't like the idea of someone living in "their" house after they've just bought it. In other terms, it's the same as if you bought a new car but then the dealer wanted to drive around in it for a couple of months before delivering it to you. Consider if that's the type of arrangement you want before signing the post-sale occupancy agreement. If there is damage afterward, then the buyer and seller are going to have to work it out. You may want to have an arbitrator predesignated in the rental agreement so that you both already know what to do before this type of situation arises. After all, the original intent is to sell the property and exchange ownership -- not create a rental where common wear and tear are expected. Published: May 14, 2004 Mr. Carr has covered real estate for more than 15 years. He is authoring “Street Guide to Real Estate,” due out 2004 through www.AmacomBooks.org. He can be reached via email at manthonycarr@erols.com. Copyright © 2004 Realty Times. All Rights Reserved.
Rent Backs Can Benefit Or Bite Seller
by M. Anthony Carr
Various scenarios can force sellers into a rent-back situation. This is when the homeowner sells the property but does not move right away and strikes a rental agreement with the new owner to stay in the property for a designated period of time. A rent-back can provide several benefits for both the buyer and the seller. There are various reasons for a rent-back which is usually requested by the seller: Sellers want to finish out the school term for their children before moving out of the house. A new job may not open in time for the seller to move to a new location until several weeks after the planned closing. Construction on a new home may not be complete before settlement. The seller may still need to find their home of choice in a resale property. For the buyer, a rent-back can have several benefits as well. In general, if a seller is asking for a rent-back, this is a major concession. Fair market rent is not really viable in this scenario. As the new owner, try to get a little more than the going rent for your neighborhood. Short-term rentals are much more expensive than year-long rentals -- your lease should reflect that difference. The seller should expect to pay a couple hundred dollars extra per month for delaying the buyer moving in and for the benefit of avoiding temporary housing elsewhere. With an inflated rental fee, the buyer/new owner could make a pretty good profit for the length of time the seller/now renter is in the property. Some loan programs will not let the buyer settle without taking possession of the property, so check with your loan officer first before agreeing to this type of arrangement. Since it's a rental agreement, don't forget to cover several issues you would cover in a regular rental: condition, rental amount (possibly per day), deposits, condition of property, etc. Now this is the time when a rent-back agreement can turn on both the buyer and seller. It can get especially sticky if the sale was in an as-is condition basis -- the question may arise, "As-is when?" When the house was sold or when the old sellers are moving out? Get these ironed out and written in an agreement before moving forward with a post-sale, occupancy, rent-back agreement. There's nothing like damaged property from a "renter" to sour an otherwise pleasant transaction. Even if you've signed a property disclaimer form (meaning that the seller doesn't give any warranty as to the condition of the property) if the buyer can prove that something in the house was in working order or not damaged when they bought the house, then the old owner may end up paying for repairs out of his or her own back pocket. The buyer should conduct a thorough -- fine-tooth comb -- walk-through with the seller and be particular about any damage you see. Note any spots on the carpet -- lift rugs and furniture, look at how many holes are in the walls from pictures, inspect windows for cracks and breaks, and request a professional cleaning on the way out. Some buyers don't like the idea of someone living in "their" house after they've just bought it. In other terms, it's the same as if you bought a new car but then the dealer wanted to drive around in it for a couple of months before delivering it to you. Consider if that's the type of arrangement you want before signing the post-sale occupancy agreement. If there is damage afterward, then the buyer and seller are going to have to work it out. You may want to have an arbitrator predesignated in the rental agreement so that you both already know what to do before this type of situation arises. After all, the original intent is to sell the property and exchange ownership -- not create a rental where common wear and tear are expected. Published: May 14, 2004 Mr. Carr has covered real estate for more than 15 years. He is authoring “Street Guide to Real Estate,” due out 2004 through www.AmacomBooks.org. He can be reached via email at manthonycarr@erols.com. Copyright © 2004 Realty Times. All Rights Reserved.
Archives-Tuesday, March 09, 2004-Wednesday, March 10, 2004 -Friday, March 12, 2004 -Monday, March 15, 2004 -Tuesday, March 16, 2004 -Monday, March 22, 2004 -Tuesday, March 23, 2004 -Wednesday, March 24, 2004 -Friday, March 26, 2004 -Monday, March 29, 2004 -Friday, April 02, 2004 -Tuesday, April 06, 2004 -Wednesday, April 07, 2004 -Thursday, April 08, 2004 -Friday, April 09, 2004 -Monday, April 12, 2004 -Tuesday, April 13, 2004 -Thursday, April 15, 2004 -Monday, April 19, 2004 -Tuesday, April 20, 2004 -Thursday, April 22, 2004 -Friday, April 23, 2004 -Monday, April 26, 2004 -Tuesday, April 27, 2004 -Wednesday, April 28, 2004 -Thursday, April 29, 2004 -Friday, April 30, 2004 -Monday, May 03, 2004 -Tuesday, May 04, 2004 -Wednesday, May 05, 2004 -Thursday, May 06, 2004 -Friday, May 07, 2004 -Monday, May 10, 2004 -Tuesday, May 11, 2004 -Wednesday, May 12, 2004 -Thursday, May 13, 2004 -Friday, May 14, 2004 -Monday, May 17, 2004 -Tuesday, May 18, 2004 -Wednesday, May 19, 2004 -Thursday, May 20, 2004 -Monday, May 24, 2004 -Tuesday, May 25, 2004 -Wednesday, May 26, 2004 -Wednesday, June 02, 2004 -Thursday, June 03, 2004 -Friday, June 04, 2004 -Monday, June 07, 2004 -Tuesday, June 08, 2004 -Wednesday, June 09, 2004 -Thursday, June 10, 2004 -Friday, June 11, 2004 -Tuesday, June 15, 2004 -Thursday, June 17, 2004 -Friday, June 18, 2004 -Monday, June 21, 2004 -Tuesday, June 22, 2004 -Wednesday, June 23, 2004 -Thursday, June 24, 2004 -Friday, June 25, 2004 -Tuesday, June 29, 2004 -Wednesday, June 30, 2004 -Thursday, July 01, 2004 -Friday, July 02, 2004 -Tuesday, July 06, 2004 -Wednesday, July 07, 2004 -Thursday, July 08, 2004 -Friday, July 09, 2004 -Monday, July 12, 2004 -Tuesday, July 13, 2004 -Wednesday, July 14, 2004 -Thursday, July 15, 2004 -Friday, July 16, 2004 -Monday, July 19, 2004 -Tuesday, July 20, 2004 -Wednesday, July 21, 2004 -Friday, July 23, 2004 -Tuesday, July 27, 2004 -Wednesday, July 28, 2004 -Friday, July 30, 2004 -Wednesday, August 11, 2004 -Thursday, August 12, 2004 -Monday, August 16, 2004 -Wednesday, August 18, 2004 -Thursday, August 19, 2004 -Friday, August 20, 2004 -Monday, August 30, 2004 -Monday, September 13, 2004 -Tuesday, September 14, 2004 -Wednesday, September 15, 2004 -Monday, September 20, 2004 -Tuesday, September 21, 2004 -Monday, September 27, 2004 -Wednesday, September 29, 2004 -Tuesday, October 05, 2004 -Friday, October 08, 2004 -Monday, October 11, 2004 -Tuesday, October 12, 2004 -Thursday, October 14, 2004 -Monday, October 18, 2004 -Thursday, October 21, 2004 -Friday, October 22, 2004 -Tuesday, October 26, 2004 -Thursday, October 28, 2004 -Wednesday, November 03, 2004 -Thursday, November 04, 2004 -Sunday, November 07, 2004 -Monday, November 08, 2004 -Thursday, November 11, 2004 -Tuesday, November 16, 2004 -Monday, November 22, 2004 -Monday, November 29, 2004 -Wednesday, December 01, 2004 -Monday, December 06, 2004 -Tuesday, December 07, 2004 -Saturday, December 11, 2004 -Tuesday, December 14, 2004 -Thursday, December 16, 2004 -Thursday, January 06, 2005 -Monday, January 10, 2005 -Wednesday, January 12, 2005 -Friday, January 14, 2005 -Wednesday, January 19, 2005 -Thursday, January 20, 2005 -Tuesday, January 25, 2005 -Thursday, January 27, 2005 -Friday, January 28, 2005 -Monday, January 31, 2005 -Wednesday, February 09, 2005 -Tuesday, February 15, 2005 -Monday, February 21, 2005 -Friday, March 11, 2005 -Tuesday, March 15, 2005 -Monday, April 04, 2005 -Wednesday, April 13, 2005 -Monday, May 09, 2005 -Monday, September 19, 2005 -Wednesday, October 19, 2005 -Tuesday, January 31, 2006 -Monday, February 13, 2006 -Wednesday, February 15, 2006 -Tuesday, February 21, 2006 -Friday, February 24, 2006 -Monday, February 27, 2006 -Monday, March 06, 2006 -Tuesday, March 07, 2006 -Wednesday, March 08, 2006 -Wednesday, March 15, 2006 -Thursday, March 16, 2006 -Friday, March 17, 2006 -Monday, March 20, 2006 -Tuesday, March 21, 2006 -Monday, March 27, 2006 -Tuesday, March 28, 2006 -Wednesday, March 29, 2006 -Saturday, April 01, 2006 -Monday, April 03, 2006 -Tuesday, April 25, 2006 -Tuesday, May 09, 2006 -Thursday, May 25, 2006 -Thursday, June 01, 2006 -Wednesday, June 07, 2006 -Monday, June 19, 2006 -Tuesday, July 11, 2006 -Wednesday, July 12, 2006 -Wednesday, August 09, 2006 -Saturday, August 12, 2006 -Thursday, November 02, 2006 -Tuesday, November 21, 2006 -Thursday, May 17, 2007 -Thursday, July 26, 2007 -Sunday, May 11, 2008
|
|
||||||||||||
Site Map :: Call (800) 870.7765 Today!
