Mortgage Blog

I am very busy recently, and found that my transactions are
a little bit different.

I closed a lot loans with 10 yr fixed and 20 yr fixed.
I guess that's because of NYCB's promotion.

Then I finished lots of rental loans with rates around
4.5%. That's because the gap is good around that range,
make the rental refi demands strong.

Recently, I found that I am working on more than 20 loans
with subordinations. And since the escrow was so busy,
and they asked me to "figure" out how to draft the subordination
agreement. And now I can do the agreements for Pentagon Federal,
Star One Credit Union, First Tech Credit Union, Charter One, etc.
I am kind of expert on the subordination now. I guess that usually
I will help the clients to keep the heloc if possible. And
since lots of my clients taking heloc out for the other
investments, I will find a way to help them out.

And especially for the two cases with 1st loan over 650k(
temporary limit expires the end of this month) with both
loans subordinated with Pen Fed. And we all made it.

I am so sorry for my clients' experience with servicelink
for the signoff. The lender gave us better rates but we
need to choose this escrow company, but the service was
terrible. I will stop choosing this lender/escrow company
for quite some time.

The interest rates is going the direction as I expected.
We are closing loans with interest rates less than 4%
for 30 yr fixed for some time. We don't know whether the
high balance loan(limit less than $625,500) will follow.

I will keep you updated once I see bond trading coupon
for lower rates.

Have a good weekend.