California tiered home pricing
Home prices are flatlining across California’s metropolitan areas at the end of 2023.
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Tag: mortgage
Form-of-the-Week: Personal Property Inventory, and Security Agreement For Note Secured by Personal Property — Forms 256 and 436
These forms are used by a seller’s agent or escrow officer when preparing a purchase agreement or counteroffer for a real estate transaction when the transfer of personal property is included and when on a carryback sale the price includes the transfer of personal property which together with the property sold will be security for the carryback note, to grant the seller a security interest in the personal property.
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Form-of-the-Week: Agreement to Modify a Promissory Note, and Modification of the Promissory Note — Forms 426 and 425
These forms are used by a holder of a mortgage, their servicing agent or broker when arranging the modification of the mortgage note, to set forth the terms sought in the modification effort, to evidence the modification of the original note and state the change in terms of the note.
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Form-of-the-Week: Loan Broker Listing Agreement, and Disclosure of Mortgage Loan Broker Fees — Forms 104 and 119-1
Listing agreement as an employment contract A listing agreement is an employment contract entered...
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FHA lengthens amortization of delinquent mortgages to 40 years
The Federal Housing Administration (FHA) is keeping their mortgaged homeowners who are delinquent in payments on the books.
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Bankruptcy’s tie to homeownership
Bankruptcy numbers were artificially low in 2020-2021. Prepare for today’s zombie businesses to fold with the 2023 recession.
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Loan production costs are drowning mortgage brokers
Just 32% of loan companies were able to remain profitable in 2022.
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National mortgage balances increased by $1 trillion in 2022
During the fourth quarter of 2022, total national mortgage debt increased by $254 billion, contributing to a $1 trillion increase in mortgage balances in 2022.
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When millionaires prefer renting to owning
White picket fence dreams are on pause and renting is trending for Millennial and Gen X millionaires.
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As mortgage interest rates rise, concessions return
Buyers looking to recoup lost purchasing power are dusting off old strategies to secure a more comfortable monthly mortgage payment.
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Today’s minimum down payment homebuyers are in big trouble
Low down payment homebuyers who go under contract today will be underwater by the time they sign on the dotted line.
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Today’s homebuyers take on the highest mortgage payments ever
High mortgage rates and high (but falling) home prices make 2022 the absolute worst time to be a homebuyer.
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Regulators nab two California-based mortgage relief scammers
The California Department of Financial Protection and Innovation and the Federal Trade Commission issued a joint complaint against a massive mortgage assistance relief scam operation.
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Form-of-the-Week: Mortgage Worksheets — Forms 312, 320 and 320-1
A buyer’s agent uses mortgage shopping worksheets when shopping for the most competitive mortgage options for their buyer.
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California’s commercial property shortage is making investors desperate
Desperation has increasingly pushed investors to accept unfavorable terms and lower cap rates in 2022.
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Rising rates bring back seller financing
As credit availability tightens thanks to rising interest rates, loan approvals become more elusive. But seller financing presents a back-door to homeownership.
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California mortgage relief program provides second chance in delinquency
California’s mortgage relief program is open for applications. Find out why your eligible clients will want to apply early.
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Mortgage Concepts: Is it covered by TILA?
Mortgage Concepts is a recurring video series covering best practices and compliance education for California mortgage loan originators. This video discusses determining whether or not your loan is subject to the Truth in Lending Act (TILA).
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