Lenders have raised the bar on underwriting guidelines in recent years, and more specifically in the COVID era. Back in the good ‘ole days, prior to the Great Recession and now COVID, lenders did what might be now described as a cursory job of underwriting the borrower. They typically asked for a simple financial...
Tag: #realestate
Post
WHAT SHOULD YOU DO TO PROTECT YOURSELF WHILE IN FORBEARANCE?
We offer a variety of products and services, ask us how we can assist you today: Counsel Mortgage Group®, LLC 480-502-1000 www.counselmortgage.com NMLS #178927 AZ MB #0909580 CA DBO #60DBO43873 Copyright © 2020 Counsel Mortgage Group®, LLC.
Post
WHAT SHOULD YOU DO IF YOUR MORTGAGE STATEMENT IS INCORRECT?
If you see a discrepancy on your statement you need to contact the loan servicer. You can call them over the phone but it is a best practice to write a formal letter regarding disputed charges. Remember to use the address the server requests be used for written communications. Otherwise a response may be...
Post
COUNSEL MORTGAGE GROUP CLIENT REVIEWS
“Counsel Mortgage and John Rapasky is an excellent choice if you are looking for real estate finance. I have been a full time practicing real estate broker for over 15 years, licensed in Arizona and California. I have worked with more lenders than I can count. In the last transaction in which I represented the...
Post
OUTSTANDING CRE DEBT CONTINUES TO INCREASE, IN SPITE OF TIGHTER CREDIT STANDARDS
Today’s post is written by Michael Green, Commercial Loan Originator for Counsel Mortgage Group, LLC Credit is the lifeblood of the economy, therefore a substantial tightening in credit conditions could cut the current recovery short. The latest Senior Loan Officer Opinion Survey points to banks tightening credit across all major loan categories. But loans...
Post
LENDING ON CONDOMINIUMS
Did you know when you apply for a loan there are actually 2 approvals that take place? The lender reviews the file based on your credit and income, and also reviews the collateral. The collateral must be sufficient in order for a loan to be approved. When the collateral is a condominium, there is increased...
Post
WHOLESALE LENDER PARTNERS
One of the lenders to whom we broker is United Wholesale Mortgage (“UWM”). UWM announced this week that they are going public later this year. They are one of the largest lenders in the Nation. To get a loan from UWM, you have to apply through a mortgage broker, such as Counsel Mortgage Group, LLC....
Post
NAR CODE AND ARIZONA LAW-REAL ESTATE LEGAL ISSUES IN-PERSON
Courts often hold all licensees to the highest standard of the Code, whether or not they are members of a REALTOR association. Counsel Mortgage Group, LLC is co-sponsoring this course by MPH School of Real Estate on Thursday, October 1, 2020. The course will help licensees understand the NAR Code and Arizona...
Post
SMALL BUSINESS ADMINISTRATION
The Small Business Administration offers business loans. The most common loans refer to Sections 504 and 7(a) of the Small Business Act. Are you looking for a small business loan? If you want to purchase commercial real estate or machinery/heavy equipment, the 504 loan is the best choice. What if you are purchasing a business...