Who is to blame for the housing and mortgage markets undoing depends on who you ask. Consumers blame everyone, brokers blame banks, banks blame brokers, appraisers are in the cross-hairs, even real estate professionals are not immune to the finger pointing…I think Michael Jackson had something to do with it all, but I can’t prove [...]
I was on CNBC a few nights ago, slated to do a spot re: dubious mortgage professional practices. The spot was titled: Confessions of a Mortgage Industry Insider.
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The Pitch:
Part A. Talk about the nefarious ways mortgage professionals can, have and will dupe consumers.
Part B. Enlighten consumers on how to avoid such practices and give [...]
Risk Based Pricing How Mortgage Rates are Determined Loan Amount and Loan to Value
Continuing on down the road of how mortgage rates and their underlying price are determined considering common Risk Based Pricing (RBP) factors, our next stop is the Loan Amount and the directly related Loan to Value (LTV).
Loan Amounts, or the actual dollar [...]
Risk Based Pricing How Mortgage Rates are Determined. Credit Scores and History
The following material isn’t all that easy to follow, there are many moving parts. It’s the equivalent of college level mortgage economics, I’ll try to be a succinct as possible.
First, IT IS VITAL that you understand exactly what your credit scores are and why, [...]
Risk Based Pricing. How Mortgage Rates are Determined Property Location and Property Use
In the world of residential mortgage Risk Based Pricing (RBP), Property Location and Property Use are two factors that have nothing to do with the actual borrower, whereas the same borrower would receive two different sets of program and interest rate quotes depending [...]