This will be effective with all FHA assigned Case Numbers dated @ 4/1 or greater... ALL COLLECTIONS will be required to be paid off if they exceed $1,000.00 in total or they MUST go into a payment arrangement.  It will then require a payment history with at least 3 months of verified payments to [...]

Mortgage Rates and Things to Watch This Week…

Last Two Weeks... Wow, a lot of confusing movement in the market last week.  Not only is it clearly due to the Government pulling out of diversified investments and bulking into Mortgage Backed Securities with intentions to drive rates down and create spendable consumer dollars, but day-to-day investor emotions played a MAJOR affect as well!  Expect [...]

Short Term Spike On Horizon – Lock Your Rate

Weekly initial jobless claims are still over 400,000 but they came down very substantially in the May 14 week to 409,000, for a 29,000 fall following the prior week's 40,000 decline (prior week revised 4,000 higher to 438,000). Stock futures are rising in reaction to this report.  This will make mortgage rates increase....lock today.