Kenneth Wohl of SpiritBank recently put together this explanation, and I thought it’d be useful to you, my clients, so with his permission, here it is. Hopefully it’ll help us all understand things a little better. Spotlight– How Interest Rates are Set One of the most commonly misunderstood facets of Mortgage lending is how rates are arrived […]
Going, Going, Gone
“Going, Going, Gone” is the tune to new regulations set forth by the mortgage industry. As of the end of March 2008, mortgage insurance companies have changed their standards for insuring conventional loans. They will no longer insure loans over 97% Loan To Value and many are making changes to their acceptable Debt Ratio requirements. For the […]