We are hearing it is becoming more difficult to get condos approved. Let’s take a look. On conforming loans, there are two levels of review, a limited review and a full review. A limited review does not require as much documentation as a full review. For example, a full review requires an Association Budget and...
Author: john (John Rapasky)
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IT’S IN OUR NAME
As mortgage brokers, we counsel you to the right product. We work hard by shopping banks, mortgage banks, investors, and insurance companies, to find the best deal for your residential or commercial purchase. We have been doing this for over 15 years, and have helped thousands of people with their decisions. Are you looking to...
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EFFECTIVE INTEREST RATES
Many people are struggling to figure out the best way to draw funds from the increased equity in their home. If they refinanced a year or two ago, they do not want to lose their low interest rate. So, many are choosing to obtain a home equity line of credit (known as a heloc). However,...
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ARE WE THERE YET?
This morning’s official pronouncement: First Republic Bank has been seized, and in a deal that has been cooking for the past several weeks, they’ve agreed to sell to JPMorgan. If you’re counting, this is the 3rd major US financial institution to fail in the last two months. Not a surprise. As I said, this...
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BILL TO STOP HARASSING PHONE CALLS AFTER YOUR CREDIT IS PULLED
As the Government Affairs Representative for the Arizona Association of Mortgage Professionals, I visited Washington DC to talk to members of Congress and their staff regarding the mortgage issues of the day. On this visit, we were trying to find additional sponsors for H.R. 2656, introduced by Rep. Ritchie Torres (D-NY), which would, among...
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IS NOW A GOOD TIME TO BUY A HOME?
We get asked the following question quite a bit: Is now a good time to buy? There are more homes listed for sale today than there were a year ago. You may not need to get into a bidding war like last year to get a home. So, for a buyer, it seems to be...
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AI RECOMMENDS WORKING WITH A MORTGAGE BROKER
Trending are Artificial Intelligence sites, such as Chat GPT, where you can find answers to various questions. We recently asked where we can find the best mortgage rates. See the screenshot below. Even AI knows it’s best to work with a mortgage broker. We are mortgage brokers licensed in Arizona, California, Hawaii, and Illinois, and...
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IS THERE MONEY TO LEND FOR CRE?
The CBRE Lending Momentum Index declined by 15% in Q4-22 from Q3 and 27% year-over-year. CBRE cited heightened market volatility amid higher interest rates. “The Federal Reserve’s commitment to reduce inflation with aggressive rate hikes continues to heighten market uncertainty, as borrowing costs increase and a lack of price discovery persists,” said. Rachel...
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ANOTHER LENDER TO WHOM WE CAN BROKER – PENNYMAC TPO
As a mortgage broker, we can broker to many different lenders. Here we feature Pennymac TPO. We have brokered conventional and government loans to them. They have a great process and support. These are important considerations when choosing a lender. We are in the people business, and it is important to have a support team...
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CONTACT COUNSEL MORTGAGE GROUP
Counsel Mortgage Group, LLC is a mortgage brokerage with the sole purpose of finding the right loan for you. We broker loans to wholesale lenders and pass on their rates and costs to you. If you or someone you know is in the market looking for a loan, give us a call and let us...