Well raise my rent! Time to buy an Investment property…Double-digit rent rise is coming to the housing market. – Mar. 15, 2011 – Mozilla Firefox http://ow.ly/4f6uW
Author Archive for Chad Stallings
Most affordable housing in the world is US… Demographia – International Housing Affordability Survey – Mozilla Firefox http://ow.ly/4b2Fe
Although this is great news for the public and economy, this is really bad for rates, expect them to worsen…Jobless claims fell another 5% last week « HousingWire – Mozilla Firefox http://ow.ly/47lCY
This guy has been right once or twice….Warren Buffett sees housing recovery to start within a year « HousingWire – Mozilla Firefox http://ow.ly/45GNI
Pass this on to fence sitters…Existing home sales inch up in January – Feb. 23, 2011 – Mozilla Firefox http://ow.ly/41VNe
Any comments on this?…Bankers: Quit selling your loans – Fortune Management – Mozilla Firefox http://ow.ly/3C8iE
20
Aug
10
video: DID you know???
In this Vlog, Chad asks the question, Did You Know, about three mortgage products that could be beneficial to you. The FHA Streamline refinance, the DU Refi Plus and a 10% down JUMBO loan. If you would like to know more about these or any other mortgage related products, feel free to contact Chad at chad@chadstallings.com
17
Aug
10
Video: Return of the Vlog!
After a short hiatus, Chad is back spreading the mortgage good news. In this video Chad talks about rates, FHA changes that are coming up and some current Phoenix housing data. If you have any comments for Chad you can always reach him at chad@chadstallings.com
30
Jul
10
help me help you, help me.
Rates are stupid low right now. Home prices are fantastic. A number of people are taking advantage refinances. Buyers are coming out of the woodwork. This is all great news, however you have to be prepared for the consequences. With mortgage applications going up due to the aforementioned circumstances, underwriters are rapidly getting backed up. This is just an effect of the fact that there are simply fewer “bodies” in the mortgage business then there use to be. Everyone deals with the ongoing dilemma of do I hire more people now to help with the volume or wait and see if the volume lasts long enough to sustain the overhead that comes along with that. Some may disagree with this line of thinking but it is a reality in today’s economic “environment”.
What Can I Do??
I am glad you asked. Before a loan can (and really should) be submitted to underwriting, the supporting documentation needs to be in the file and it helps if an appraisal present. There is some wiggle room with the appraisal because these days you are most likely going to get at least one “approval with conditions” so you can include the appraisal in the re-submit. Having the documentation in the file quickly is key to helping the process along therefore one thing that you can do is to get your paperwork to your lender as quickly as possible. Have your financials ready to go, don’t pack or shred items like W-2’s, paystubs, bank statements, or tax returns. Agents can help by making sure that their clients are providing what the loan officer is asking for in a timely manner and making sure that the customer is returning the LO’s phone calls promptly. If you are refinancing, then in addition you can let the appraiser in your home as soon as you can so that it comes back to the lender quicker.
Keep in mind that everyone involved in the transaction what the same thing, to close soon and on time. We are all working towards the same goal so let’s help each other get there together.
You can contact me at chad@chadstallings.com
24
Jul
10
Video: HVCC on the brain…again
In this vlog Chad speaks again about HVCC and its effect on the Real Estate industry. The introduction of HVCC has not helped the quality of appraisals, it has raised the cost, and made the process more difficult all of which affect the consumer in the end. To comment please email Chad at chad@chadstallings.com
