3/03/2020

Refinance

In the event that you haven’t heard – The Fed cut the discount rate (I believe) by 50 bps this AM – in what they termed an emergency. The last emergency fed rate cut was in 2008.
 Federal Reserve is slashing - this will be brief!

The 10 year Treasury is down to 1.02%.


If you locked your rate somewhere else.
Call me let's do better 

(949) 784- 9699
Don't pay their float down fee.

We can get your payment down fast

(949) 784- 9699

C G Barbeau
NMLS 324982

Pinnacle Home Loans NMLS 1775393 Licensed by the Department of Business Oversight under the California Financing Law, License #60DBO89397 Department of Real Estate, License #02083817





     Yeah baby…Today’s rates are smashing  !!!

                                              3/5/2020 today’s amazing rates


Below are a few examples of Today’s Awesome Pricing:

  • 30 Year FHA CONFORMING – 2.875% APR 2.991
  • 30 Year FHA HIGH BALANCE – 3.00% APR 3.112
  • 30 Year CONVENTIONAL CONFORMING – 3.25% APR 3.322
  • 30 Year CONVENTIONAL HIGH BALANCE - 3.25% APR 3.322
  • 30 Year VA CONFORMING -  2.875% APR 2.901
  • 30 Year VA HIGH BALANCE – 3.125% APR 3.201
Rates a bit up today not because the market is up lenders try to slow down the faucet as there are only so many workers to do the zillion checks. BUT I AM READY 24/7 call me



Please note:  Our pricing for FICO scores between 600-640 is fantastic right now. Many FHA lenders don’t want FHA loans under a 640 score. We will work hard to get them closed quickly.




          

(949) 784- 9699

3/02/2020

Coronavirus Truth

Eric Orr painting on lead virus kills
 My daughter is in Southeast Asia and like many of us I'm reading everything about COVID-19
Lookup 冠狀病毒 or guānzhuàng bìngdú and you will find videos and images suppressed by news organizations. If that doesn't take you on a rabbit hole to washing your hands, then you are dulled out. The Chinese spelling and traditional Mandarin on Twitter for example is frightening.

Locals in Orange County California seem to be going about their daily tasks with less attendance than normal. A few have taken to hoarding toilet paper. I myself cancelled trip to San Antonio for #AWP20 and speaking at a Mortgage Banker's National meeting. I don't see the need to get on an airplane and worry.

Worry is bad for your health.
Being ready is how we live.

So from my research of reading thousands of posts the World Health Organization and lessor so
the Centers for Disease Control are the best sources for information on the spread of the disease.

What we know:
Cannot trust numbers from China
Washing your hands, I mean scrubbing like a surgeon
see video here if you are unclear about how much soap scrubs every surface:


It is inconclusive how much sanitary wipes, and hand sanitizer are effective as they
target bacteria not virus. Assume it's better than nothing when there is no soap and water.

The virus lives on surfaces for a long time- desk, doorknob, light switch, and your phone need to
be cleaned. Humans sneezing or coughing can spread air borne droplets. 

Those with health compromises or the elderly are at risk. Those under fifty five years old with
good lungs may get it and not know; but they carry it around,and share viral particles. Assume smokers (yes even vape) and those who live in polluted air are at higher risk of serious illness- not just because they have weakened their lungs BUT they touch their face more often.

That gets us to sit on your hands if you must. don't touch your face. Get a pair of clear glasses, bug ones to remind you not to itch your eyes.
Empty shelves at Wallmart
Now the local concerns:
I went to the Laguna Niguel Wallmart to pick up some items for my Mom who is 88. She buys distilled water for health reasons. There was NO bottled water. I asked a store clerk and he told me
they were cleaned out as if there was a hurricane warning. Also no canned soup, no Clorox wipes.
I went to Costco in San Juan Capistrano and the same thing. Empty shelves.
Now why do normal healthy people have to horde bottled water? 
I live on a ranch where our water is well, or tanked in and I use it for drinking.
Boiling water in a kettle will kill virus and bacterium. There is nothing indicating
our water was poisoned.
I understand that toilet paper is also considered a commodity worth more than gold, as it's
sold out with all the N 95 masks. Toilet paper? Why do you need 400 rolls in your bathroom?
The masks are about 25% effective as they don't fit one's face perfectly and tend to make you adjust with an unwashed hand thus putting viral particles on the outside of the mask near your eyes and nose. For a while don't shake hands, do an elbow bump or just say how grateful you are to meet with arms crossed. 
I called around for distilled water for Mom and eventually found a secret stash. 
Does this seem crazy to you?
So if you need soup, I have an organic vegetable garden and will drop you some fresh starters, outside your doorstep, with washed hands.

Hey and mortgage rates loved the bad news. Time to get your payment down, lower than it was
possible for eleven years. IF you're staying home, spend the time on something good.
Call me (949) 784-9699
C G
NMLS 324982
No soup for you!


2/26/2020

Refinance Now!

The time to refinance is now!

Bad news makes mortgage interest rates go down.
Lower than they have been for eight years today!

Call and let's get you into a 30 year fixed rate safe loan.

Don't wait until everyone is swamped.
 2.75% 30 year fixed conforming loan
FICO middle 721 no points 2.79 APR

NO Cost you get appraisal back at closing,
if needed, about 40% of people don't need
a full new appraisal

(949) 784- 9699

Caroline Gerardo Barbeau
C G

NMLS 32498
Pinnacle Home Loans

Let's talk about what you need

Equal opportunity Lender.
This is not a commitment to lend.
Get ready to save on your monthly payment!



2/24/2020

TRID survey

To mortgage originators, loan officers, mortgage bankers please follow the link to the survey.
This may have them review possible changes.
CFPB is asking for input on how TRID changed the market from 2015 through 2018.
You need information on your own "shop" as to number of loans, total dollar amounts and a few details about your bank, mortgage company, credit union or private money to answer about three of the questions.



The survey takes ten minutes if you aren't long winded, as I was about my experience 
of thirty years as a Mortgage Loan Officer and banker.


Things they forgot to ask:
1. What is the cost increase to the consumer?
2. Is it unfair that under-served communities who don't have a personal computer
 have to wait longer for USPS mailing?
3. Cost increase as to adding employees, buy backs, secondary selling loans 
to scratch and dent loan servicers/entities to hold.
4. Cost increase to Borrowers who lost rate locks, didn't close on time in 2015.
5. What can be done to service more minority and rural borrowers who are
inundated by fifty page long emails that they don't or cannot read?
6. Did the increased turn time harm Borrowers? (extra anxiety and time is money).


Mortgage
 Bankers Association
1919 M Street, NW, 5th Floor Washington, DC 20036 (800) 793-6222
 
       
The CFPB is currently conducting its assessment of the TILA/RESPA Integrated Disclosure Rule (TRID). As part of its information gathering efforts, the Bureau has prepared a survey for mortgage lenders. Specifically, the survey is intended for “representatives of mortgage loan origination institutions that provide residential mortgages covered by the TRID Rule.”
We encourage you to participate in the Bureau’s TRID survey. While the assessment is unlikely to lead to an immediate rule making, its findings influence the Bureau’s decision on whether future changes are necessary. For this reason, it is important that the Bureau’s TRID assessment accurately reflect the housing finance industry’s experience with TRID rule.

The survey is live and may be accessed using the below link or from the Bureau’s website. As the survey instructions indicate, the Bureau requests that each institution submit only one response to the survey. To find the survey click your closest job title and scroll all the way down to the next tiny blue arrow on the bottom right side of the screen.

The link brings you to a page that lists three TRID surveys: the Loan originator survey, the Loan officer survey, and the Closing company survey. The survey intended for institutions that are mortgage lenders is the Loan originator survey.


 TRID survey herehttps://www.consumerfinance.gov/data-research/trid-assessment-industry-surveys/
 online version.