Interest Rates Have Been Improving!

by Irene Moustakas | Sep 10, 2009 | Industry News, Rates, Tips

Interest rates have steadily improved in the past week and a half.  I haven’t seen a good run like this in quite a while and definitely not in 2009.  Usually, we have had wild fluctuations. I have a lot of clients that had a target rate and cost in mind and we...

New Mortgage Insurance Requirements

by Irene Moustakas | Jun 22, 2009 | 1st Time Homebuyers, Industry News

In March, Mortgage Insurance (MI) companies for conventional loans cut their max Debt-to-Income ratio from 55% down to 41% max. I blogged about it here. Now, the new and more strict requirement, which is going into effect next week, is an increase in minimum credit...

HVCC Petition

by Irene Moustakas | Jun 18, 2009 | Industry News

I am very much a “roll with the punches” kind of person. Things change, new laws are implemented, new disclosures are required… it’s okay, I get it and I roll with it, explaining the “what” and the “why” without being bothered and understanding the reasoning behind...

First Time Homebuyer Tax Credit up to $8000

by Irene Moustakas | Jun 1, 2009 | 1st Time Homebuyers, Industry News, Tips

I have to first preface this post by stating that I am not a tax advisor and cannot guarantee any of the following information. But I can let you know some of the requirements and stipulations for qualifying for the First Time Homebuyer tax credit. First time...

Reminder on Loan Amount Limits

by Irene Moustakas | May 20, 2009 | Industry News, Loan Programs and Products

Up to $417,000: Conforming Loan Limit (the best interest rates and most “common-sense” underwriting). $417,000-$729,750: High-Balance Conforming loans (this reverted back to a $729,750 loan limit, but it is temporary. It will go back to $625,500 at some...

Home Valuation Code of Conduct Letter

by Irene Moustakas | May 10, 2009 | Industry News

The fight against the HVCC isn’t over yet! I would like to share with you the letter that I wrote and sent to 9 of our elected representatives (governor, congresspeople and president). If you would like to contribute your own letter or phone call (or even use...