Click the post title above to watch today’s show. Catch all your real estate and mortgage news and commentary with Frank Garay and Brian Stevens right here at www.TBWSDailyShow.com!
Just Released NEW 199% LTV Freddie & Fannie HARP 2.0
Oaktrere Funding-Wholesale Division-Established 1988
Accepting New Broker Applications
Funding loans in the following states:
AZ, CA, CO, FL, IN, NM, NV, OR, TX, UT more pending
Broker Package online @ http://www.otfwholesale.com
http://www.oaktreefunding.com/Broker Links/broker package3-30-12.pdf
National Sales Director
Email for Rate Sheets & Matrix!
HARP 2.0 Great News! 199% Max LTV Freddie & Fannie!
Did you get your HARP broken by your LONG Time Wholesale Lender?
Don’t worry we have some Love 4 You!
Oaktree Funding-Wholesale Division-Since 1988
Just Released 199% LTV Freddie & Fannie
Accepting New Broker applications in the following States: AZ, CA, CO, FL, IN, NM, NV, OR, TX, UT others pending.
Check it out! Visit otfwholesale.com
HARP LOANS CLOSED 35-45 Days Submission to Funding!
Contact me direct:
Robert Garcia-National Sales Director
Anyone know of a loan program that is not using Fannie’s new guidelines on rental income for retaining current residence without 2 year history of being a landlord? I have borrower that is buying new residence, retaining current residence as a rental and they need to be able to use the rental income from this property to qualify for new payment. Can’t qualify for both mortgage payments and they don’t have 2 year history of being a landlord, therefore per new Fannie guidelines, they can’t use the rental income to help offset the payment on old residence.
Any info is greatly appreciated! email is Chris@AustinHomeandLoan.com
This is the first I have heard about the updates you talked about regarding the HARP 2.0 program. Interesting news that I am going to have to check into more.
FRANK LOVE THE SHIRT
GO 9′ERs wooohoooo!
Yes, there is a reason foreclosures are down in Oregon. As previous poster mentioned, July 11th state law requiring mediation prior to foreclosure went into effect. Also shortly after that the Oregon Appeals Court ruled that MERS does not have legal standing to foreclose pursuant to Oregon Statutes that require recordings of sales.Oregon is a non-judicial foreclosure state. The lenders are now starting to file more judicial foreclosures which is more costly while the loophole in the state laws allow for this by-pass of mediation requirement and MERS ruling that applies to non-judicial foreclosures only.IM not sure 80% is accurate but I have seen a dramatic drop in non-judicial foreclosures.I dont think much will happen until after the election and when are state legislature gets back into session for another ound of advocates vs the bank lobbyists.
Digging deeper might be a really good idea. Foreclousres filing have dropped in NV due to AB284 a law that went into effect on Oct 1, 2011. NOD’s dropped from on average 400 per month in northern NV to 5 the first month the law went into effect. Last month they climbed back to 40 but the jury is still out as to whether these are even legal under the new law. I would not be surprised that if we looked at the number of people who are 90 days late on their payment we would see no drop in the numbers and perhaps an increase as, right now, the banks cant file notices to start the foreclosure process unless then can prove personal knowledge of each transfer of the note. So homeowners sit in their homes not making payments and we sit and wait, with no inventory to sell to all the people that have waited their three years and are ready to buy…
Great news on HARP. But will it still be limited to loans sold to FMNA or FHLMC before August 2009?
Foreclosure starts haven’t dropped 80% in Oregon! Come on fellas…. dig a little deeper. Notice of Default filings have dropped because of the new foreclosure procedures that went into effect on July 11th which has caused the lenders to transition from non-judicial to judicial foreclosure. This means NOD filings have dropped but lis pendis filings have surged. If there’s an overall drop in foreclosure starts in Oregon… it’s almost imperceptible.
Go Beavs, go 49ers, go Giants! We are selling more in Salem, all good news! Thanks
cocaine is bad… ummkah (to be said in counselor Mackey’s voice)
Your email address will not be published. Required fields are marked *
You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>
Twitter UsersSign in with your Twitter account by clicking the button below.
Lost your password?
Username or E-mail: