An Upcoming Change to the Lending Industry: The “Qualified Mortgage” Rule

by Irene Moustakas | Nov 15, 2013 | Featured, Industry News

Earlier this year, the Consumer Financial Protection Bureau (CFPB) released the details for the “ability to repay” and “qualified mortgage” rule.  The rule will go into effect on January 10, 2014. “[The Qualified Mortgage] is intended to create a class of ‘safer’...

Rising Interest Rates in 2013

by Irene Moustakas | Jun 4, 2013 | Featured, General Market News, Industry News

The good news is that I am happy to announce that I got featured as one of the “mortgage experts” in a Yahoo! Homes article regarding interest rates and what trend is anticipated for 2013.  The unfortunate news though is that since the article was...

Current Rules for Getting a Loan if You Have Had a Foreclosure or Short Sale

by Irene Moustakas | Feb 20, 2013 | Featured, Industry News

It’s a pretty hot housing market right now: lots of demand + lower-than-normal inventory mean that housing prices are rising.  Even though interest rates are higher than last year’s lows, they are still in the 3s (depending on your scenario, they may be in the low...

FHA Mortgage Insurance Increasing on April 9, 2012

by Irene Moustakas | Feb 29, 2012 | 1st Time Homebuyers, Industry News

(Blog post has been updated to reflect the new change date of 4/9/12, per FHA Mortgage Letter 12-4) It’s happening again… FHA Upfront Mortgage Insurance Premiums, as well as the monthly Mortgage Insurance charges, are set to increase on April 9, 2012.  If you need an...

A Reason to Lock Your Rate NOW Instead of Waiting

by Irene Moustakas | Jan 10, 2012 | Industry News

A new law has passed that will directly affect every person seeking a mortgage securitized by Fannie Mae or Freddie Mac, or insured by FHA, effective tomorrow, 1/11/12.  Nearly every loan right now is held by one of these Government-Sponsored Entities (GSEs), so this...

Purchase Loan Program Available for our Community Heroes: Police, Firefighters, Teachers & EMTs

by Irene Moustakas | Dec 5, 2011 | Featured, Industry News, Loan Programs and Products

There is a special program currently available to police, firefighters, teachers and emergency medical technicians.  The program, called Good Neighbor Next Door (GNND), offers a 50% discount on the list price of a home for HUD-owned properties.  In return, the...