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• 7/8/2008 9:54 AM Los Angeles Real Estate Blog wrote:
  Prior to evaluating last week’s foreclosures and Notices of Default; I would like to remind potential home buyers the reason that your Realtor requests that you become prequalified PRIOR to searching for your dream home. The sub prime lending fiasco proves the fact that an abundance of home buyers were in a hurry and did not take the time to understand the type of loan they were obtaining. Potential home buyers, stop! Talk to a lender, now, today, before you find your dream home. Discuss loan options, monthly payments, down payment requirements, etc. Have ...
• 7/8/2008 9:55 AM Los Angeles Real Estate Blog wrote:
  Prior to evaluating last week’s foreclosures and Notices of Default; I would like to remind potential home buyers the reason that your Realtor requests that you become prequalified PRIOR to searching for your dream home. The sub prime lending fiasco proves the fact that an abundance of home buyers were in a hurry and did not take the time to understand the type of loan they were obtaining. Potential home buyers, stop! Talk to a lender, now, today, before you find your dream home. Discuss loan options, monthly payments, down payment requirements, etc. Have ...
• 7/8/2008 10:04 AM Los Angeles Real Estate Blog wrote:
  Prior to evaluating last week’s foreclosures and Notices of Default; I would like to remind potential home buyers the reason that your Realtor requests that you become prequalified PRIOR to searching for your dream home. The sub prime lending fiasco proves the fact that an abundance of home buyers were in a hurry and did not take the time to understand the type of loan they were obtaining. Potential home buyers, stop! Talk to a lender, now, today, before you find your dream home. Discuss loan options, monthly payments, down payment requirements, etc. Have ...
• 9/30/2008 8:52 AM Los Angeles Real Estate Blog wrote:
  I have been employed by a variety of lenders (most of them). In the late ‘70s, I entered the mortgage banking profession. I was a permanent “temp” for a savings and loan and for several months floated from department to department. At one of earlier jobs, we only sold our 30 year fixed rate loans to Freddie Mac , I am not sure why we didn’t sell to Fannie Mae. We only generated fixed rate loans and it was not too complicated (until interest rates hiked during the Carter years, and that is another story). We ...
• 9/30/2008 8:55 AM Los Angeles Real Estate Blog wrote:
  I have been employed by a variety of lenders (most of them out of business for years). In the late ‘70s, I entered the mortgage banking profession. I was a permanent “temp” for a savings and loan and for several months floated from department to department. At one of earlier jobs, we only sold our 30 year fixed rate loans to Freddie Mac , I am not sure why we didn’t sell to Fannie Mae. We only generated fixed rate loans and it was not too complicated (until interest rates hiked during the Carter years, and that ...
• 9/30/2008 11:08 AM Los Angeles Real Estate Blog wrote:
  I have been employed by a variety of lenders (most of them out of business for years). In the late ‘70s, I entered the mortgage banking profession. I was a permanent “temp” for a savings and loan and for several months floated from department to department. At one of my earlier jobs, we only sold our 30 year fixed rate loans to Freddie Mac , I am not sure why we didn’t sell to Fannie Mae. We only generated fixed rate loans and it was not too complicated (until interest rates hiked during the Carter years, and ...
• 10/8/2008 4:55 PM Los Angeles Real Estate Blog wrote:
  I am often asked this question and the answer is that I don’t know. I have clients that have compelling reasons to purchase a home now. Everyone has different goals. I believe that the next several years may present amazing opportunities for those with cash (maybe even as little as $30,000 for non-owner occupied property) and good credit. I am a real estate agent and have been in mortgage banking and real estate for over 25 years. I believe that in the next several years, fortunes will be made (even more money than the 1990’s). Why ...
• 2/28/2009 9:04 AM Los Angeles Real Estate Blog wrote:
  Prior to becoming a real estate agent, I was in mortgage banking and held a variety of positions. At one point, I was an underwriter, the one who approved or disapproved loans. At that time, I had guidelines; my job was to weigh the overall picture. If income was weak, credit should be stellar, if credit was poor down payment should be substantial. Bottom line: the loans I approved needed to make sense. I just received this information from BWA Mortgage and am so encouraged that lenders and Fannie Mae have dusted off their thinking caps ...

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