Mortgage Blog

Sorry for not writing much of the blogs recently,
though I promised to write more. Life should be
back to normal after this week.

1)The rate went up around 0.125% to 0.25% to
most of the fixed programs. It should go down
in the next two months. From the past experience,
it went up much faster than it went down.
So it will take longer time to go down.
But at least the market will help the borrower
to make reasonable rate expectation for the refi.

2)Lender PF increase the appraisal fees starting Sep 1st.
I am not sure whether this is part of the inflation trend.
I remembered that the appraisal cost was only $250 or $350
a few years back. And now, the cheapest one for me
is $400.

3)Lender Flagstar will require the waiting period
changed to 180 days So all my lenders will ask you
to stay 180 days before the next refinance.

4)Credit Disputes. This will affect the loan process
now. All my lenders will request those disputes
"satisfied". So either the creditor will need the
drop/cancel the discputes or the borrower need
to pay the dues, and we will have to work with the
credit bureaus to get it removed from the credit report.
This takes at least one week.

5)Carbon monoxide alarm. This was required for all
rentals and primary homes. Some lenders will not get
you loans without having Carbon monoxide alarm
installed.