2/10/2017

5% Down Jumbo NO MI

The above photograph is of an epi in my organic garden.
Confused by the rain and intermittent sunny days at the ranch
it threw off this bloom the size of a basketball.
Happy sign Spring is early!











Estimated mortgage rates for the weekend

Conforming;

15 year fixed 3.250%
30 year fixed 4.125%
7/1 ARM         3.625%

FHA / VA;

15 year fixed 3.250%
30 year fixed 3.875%
5/1 ARM         3.500%

Jumbo

15 year fixed 4.125%
30 year fixed 4.500%
7/1 ARM          3.875%

The above rates based on 760 credit, 60% LTV. Rates subject to change until locked.
Rates change a couple times a day. Terms and conditions apply. This is not a commitment to lend

Get your clients pre-approved over the weekend, text or call   Have a great weekend! C G Caroline Gerardo Barbeau  
(949) 784-9699

apply now it's free https://carolinegerardo.eaglehm.com/
NMLS 324982






2/03/2017

Trump Dumping Dodd Frank

 Trump to dump Dodd Frank
Yippee Kah yeh
Hell froze over
But what will the new regulations be?
No new plan, yet.
Privatize Fannie and Freddie- 
 put them together and forget receivership.
I cannot say what the legal argument to
repeal Volker and Dood Frank will be...
national security?
Since they are laws... stay tuned. 


1/18/2017

Trump May Hold Your Closing Hostage

Did you Lock in an FHA loan with lower MI?

FHA LOAN in 
the hopper?
You may get STUCK 



Inauguration and new Administration May Stall YOUR FHA loan 
closing BEWARE!  Oh no !  
This could be unwound before it starts. If the President retracts the MI reduction right after the 20th we will have stuck borrowers.  
As we know, President elect Trump may have different ideas on how HUD should work and is creating much uncertainty.  If you locked, re-disclosure with higher numbers may be impossible. Is this a legal change of circumstance?  Lender would have to pay the increase for life of
loan.  The current laws, lovely Dodd Frank, require Loan Estimate to be exact and
Closing Disclosure can't go up, only down. If Trump cancels the reduction in MI,
he may hold your transaction hostage until Mnuchin figures out the granular nitty 
gritty grass.

Stay tuned borrowers, 
the corresponding articles now surrounding this topic. It makes having tough conversations on the 26th easier should this occur.  My advice to mortgage lenders is do not disclose the lower MI, don't write this product until we find out what the new
boss will do.


Based on recent testimony and political pushback, we believe there is a strong chance the most recent MIP reduction (as published in HUD Mortgagee Letter 2017-01[MBA.informz.net]) may be one of the rollback actions[MBA.informz.net] taken soon after President Trump takes office. This change will likely be effective immediately, and could create significant operational challenges for lenders and their customers. Given this information,  consider the contingency steps that would be necessary to unwind any changes that have already been made to adjust for the reduced MIP rates if this reversal is implemented.

California County Recorder Holidays Closed Dates


Holiday Observances Closed County Recorder
Real Estate Transactions Can't Record on these
Dates in 2017:
January 2nd, New Years Day Observed
January 16th, Martin L. King Jr.
February 13th, Lincoln's Birthday
February 20th, Presidents Day
March 31st, Cesar Chavez
May 29th, Memorial Day
July 4th, Independence Day
September 4th, Labor Day
October 9th, Columbus Day
November 10th, Veterans Day
Observed November 23rd & 24th,  Thanksgiving
December 22nd,   Christmas Eve
Observance  December 25th, Christmas December 26th
December 29th, New Years Eve
Holiday Observances Closed County Recorder
Real Estate Transactions Can't Record in the following counties:
Alameda               
Alpine            
Amador               
Butte               
Calaveras
Colusa               
Contra Costa               
Del Norte               
El Dorado               
Fresno               
Glenn
Humboldt               
Imperial
Inyo
Kern        
Kings
Lake               
Lassen               
Los Angeles 
Madera       
Marin               
Mariposa               
Mendicino               
Merced               
Modoc
Mono
Monterey
Napa               
Nevada               
Orange               
Placer               
Plumas               
Riverside               

2017 California County Recorder Holidays