Matt Steinmetz's Blog » rates http://mattsteinmetz.com/blog Mortgage Related News Fri, 18 May 2012 15:16:41 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 FHA 203k Retained by Envoy Mortgage http://mattsteinmetz.com/blog/fha-203k-retained-by-envoy-mortgage/ http://mattsteinmetz.com/blog/fha-203k-retained-by-envoy-mortgage/#comments Fri, 18 May 2012 15:13:17 +0000 Matt Steinmetz http://mattsteinmetz.com/blog/?p=628 Continue reading →]]> Click here to view the embedded video.

In this video I discuss how Envoy Mortgage has rolled out their own FHA 203k Streamline product that is funded by Envoy and the servicing rights retained by Envoy.  This means Envoy Mortgage has control of the process form start to finish and beyond.  Servicing means you will make your payments to Envoy and not have your loan sold around to other lenders.  Let me know what you think by leaving comments below and sharing with your communities.

Thank you,
Matt Steinmetz nmls# 221315
Envoy Mortgage
2151-A2 Salvio St.
Concord, CA 94520
Visit Envoy925.com
Office: 925-671-9501 x119

Down Payment Assistance*FHA*VA*HomePath*FHA 203K*Less Than 90 Day Flips*USDA                         Condo Approvals*Escrow Holdbacks*and now Up to 8 Financed Properties

]]> http://mattsteinmetz.com/blog/fha-203k-retained-by-envoy-mortgage/feed/ 0 House lost Value? Refinance Now! http://mattsteinmetz.com/blog/house-lost-value-refinance-now/ http://mattsteinmetz.com/blog/house-lost-value-refinance-now/#comments Sun, 18 Mar 2012 17:07:11 +0000 Matt Steinmetz http://mattsteinmetz.com/blog/?p=621 Continue reading →]]> Click here to view the embedded video.

Watch Matt Steinmetz in his YouTube video about refinancing even if you owe more than your house is worth with Fannie Mae’s HARP.

Matt Steinmetz is a Branch Manager for Envoy Mortgage with offices in Concord, Walnut Creek, Capitola and Vacaville California

Leave a comment here or call Matt at 925-671-9501 x119

 

]]> http://mattsteinmetz.com/blog/house-lost-value-refinance-now/feed/ 0 FHA to Change Allowable Seller Credit Amount? http://mattsteinmetz.com/blog/fha-to-change-allowable-seller-credit-amount/ http://mattsteinmetz.com/blog/fha-to-change-allowable-seller-credit-amount/#comments Wed, 25 Jan 2012 23:35:15 +0000 Matt Steinmetz http://mattsteinmetz.com/blog/?p=596 Continue reading →]]> In a separate Federal Register notice to be published soon, the FHA will propose to reduce the maximum allowable seller concession from its current level to one more in line with industry norms. The current level exposes the FHA to excess risk by creating incentives to inflate appraised value. The revised proposal reflects public comments received on an earlier proposal published in a Federal Register notice on July, 15, 2010. The revised proposal calls for a 30 day comment period. Following an analysis of the public comments received, a final rule will be issued.

Do you think this is a good or bad idea?  Let me know by commenting below (log in using your facebook or twitter account through Disqus)

Matt Steinmetz

]]> http://mattsteinmetz.com/blog/fha-to-change-allowable-seller-credit-amount/feed/ 0 What Not To Do During Your Loan Processing http://mattsteinmetz.com/blog/what-not-to-do-during-your-loan-processing/ http://mattsteinmetz.com/blog/what-not-to-do-during-your-loan-processing/#comments Mon, 23 Jan 2012 17:19:34 +0000 Matt Steinmetz http://mattsteinmetz.com/blog/?p=590 Continue reading →]]> What Not To Do

To some it’s obvious and to others it’s not, but the following items are critical during the loan process.  If you have questions about these or are in the middle of your loan process and have to do one of these let me, or your loan officer know (always tell your loan officer) so you can be sure you are not affected negatively.

IMPORTANT

It is critical to the success of your loan package that you avoid doing any of the following until after your loan has closed escrow:

1. Do not change or quit jobs.

2. Do not switch banks, make cash deposits or move your money around.  If you do please keep a complete crystal clear paper trail that shows all money transfers and deposits between accounts.

3. Do not pay off bills. You should continue to pay the amount required, but do not assume that paying a debt off will alwasy benefit your score or loan approval.

4. Do not make any major purchases.  Adding debt can be detrimental.

5. Do not close credit accounts or apply for any new credit cards or loans.

If you must do any of the above, PLEASE CONTACT YOUR LOAN OFFICER IMMEDIATELY. Audits are done just prior to funding and you may be placing your loan in jeopardy if you do not notify your lender of any changes.

Hope that helps!  Please share and leave comments here.

Matt Steinmetz

]]> http://mattsteinmetz.com/blog/what-not-to-do-during-your-loan-processing/feed/ 0 Update on HARP and Rate Outlook http://mattsteinmetz.com/blog/update-on-harp-and-rate-outlook/ http://mattsteinmetz.com/blog/update-on-harp-and-rate-outlook/#comments Thu, 27 Oct 2011 17:23:04 +0000 Matt Steinmetz http://mattsteinmetz.com/blog/update-on-harp-and-rate-outlook/ Continue reading →]]> Click here to view the embedded video.

Europe finds some help with the Greek debt issue which hurt U.S. mortgage rates and inflation, the enemy of mortgage rates begins to rear its ugly head!

Please leave your comments here and share this with your friends via the social media buttons below.

Thanks!
Matt Steinmetz
Envoy Mortgage

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]]> http://mattsteinmetz.com/blog/update-on-harp-and-rate-outlook/feed/ 0 HARP Updates- This May be Huge! http://mattsteinmetz.com/blog/harp-updates-this-may-be-huge/ http://mattsteinmetz.com/blog/harp-updates-this-may-be-huge/#comments Mon, 24 Oct 2011 15:55:17 +0000 Matt Steinmetz http://mattsteinmetz.com/blog/?p=515 Continue reading →]]>

Click here to view the embedded video.


In this video:
The refinance program for underwater borrowers has helped some but has also taken a lot of flack because of it’s limits.  Well that may be no more!!!
Fannie Mae and Freddie Mac will be rolling out updated guidelines to allow borrowers to refinance regardless of how much they owe, their appraised value.  This means it doesn’t matter how underwater you are, if your loan is owned by Fannie Mae or Freddie Mac you may benefit.  Those of us with second mortgage and HELOCS may still benefit assuming the second lender agrees to re-subordinate.

Watch the video and leave comments here.  Be sure to share this with your friends, family and co-workers because this may help a lot of people.

Matt Steinmetz
Envoy Mortgage

Concord, CA Contra Costa County
925-548-3983

 

]]> http://mattsteinmetz.com/blog/harp-updates-this-may-be-huge/feed/ 1 What will 2011 Bring? http://mattsteinmetz.com/blog/what-2011-brings/ http://mattsteinmetz.com/blog/what-2011-brings/#comments Fri, 07 Jan 2011 05:49:35 +0000 Matt Steinmetz http://mattsteinmetz.com/blog/?p=362 Continue reading →]]> I was recently attending an economic seminar and I wanted to share some of what I heard.

It was said that home sales had hit bottom in fall of 2010 on a national level and 2 months earlier in CA.  Meaning CA is 2 months ahead in the eyes of recovery.  I’m sure some of you agree while others are saying YA RIGHT!  With that said I learned that current sales are at the same level they were in 2002 with the difference being that prices are lower today then they were then.   So for you Realtors that have made it through the hard times I am sure I am not the first to tell you that you are working harder for less pay today than in 2002. 

The median price in CA is now around $309,000 and on average a home sits on the market 6.2 months.  My experience in Concord, CA and Contra Costa County is that the median is slightly lower than that, maybe $285,000.  In Solano county lower again at about $250,000.

It was said that there will be a housing shortage during the 2nd half of this decade.  If that is true then we should see prices hike up and we’ll all be worried there will be another bubble.

Something I found interesting was that I read today that there will be a 3.6% decline in values in 2011, but the speaker at the seminar believes there will be a 2% increase.  Spins and perspectives are always interesting, aren’t they? 

There was also a bit of discussion on the new laws and changes to existing laws pertaining to real estate, rentals, evictions and foreclosures.  One law I found interesting was that it is now a crime not just a violation to pay an unlicensed person for doing loan activity.

At any rate these are the times for consumer protection, right or wrong, it’s what the people seem to want.  I have heard many say it’s gone overboard but just like everything, it has to go overboard before it is corrected.  Just like lending, the market (the bubble), or anything else in life. 

Let me know if you have any thoughts on this by leaving a response.

Matt Steinmetz
Envoy Mortgage

Concord, CA

Follow me on Twitter @steinmetzmatt and “Like” our Facebook page Envoy Mortgage Concord, CA

]]> http://mattsteinmetz.com/blog/what-2011-brings/feed/ 0 Even Lower Mortgage Rates http://mattsteinmetz.com/blog/even-lower-mortgage-rates/ http://mattsteinmetz.com/blog/even-lower-mortgage-rates/#comments Fri, 08 Oct 2010 16:16:22 +0000 Matt Steinmetz http://mattsteinmetz.com/blog/?p=354 From What I see, today is showing the lowest rates we’ve ever seen.

Matt Steinmetz
Envoy Mortgage

Concord, CA

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]]> http://mattsteinmetz.com/blog/even-lower-mortgage-rates/feed/ 0 Mortgage Rates Reach 2010 Lows After Stocks Nosedive http://mattsteinmetz.com/blog/mortgage-rates-reach-2010-lows-after-stocks-nosedive/ http://mattsteinmetz.com/blog/mortgage-rates-reach-2010-lows-after-stocks-nosedive/#comments Sat, 08 May 2010 16:36:40 +0000 Matt Steinmetz http://mattsteinmetz.com/blog/?p=283 Mortgage Rates Reach 2010 Lows After Stocks Nosedive.

Thank you,

Matt Steinmetz

 

Branch Manager

Envoy Mortgage

Branch 531

925-671-9501 x119

 

 www.envoyca.com 

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]]> http://mattsteinmetz.com/blog/mortgage-rates-reach-2010-lows-after-stocks-nosedive/feed/ 0 The Count Down Begins! http://mattsteinmetz.com/blog/count-down-begins/ http://mattsteinmetz.com/blog/count-down-begins/#comments Fri, 19 Mar 2010 04:38:48 +0000 Matt Steinmetz http://mattsteinmetz.com/blog/?p=249 Continue reading →]]> 10 days left of the Fed’s mortgage backed securities (MBS) purchase program! Experts say rates will go up.  Not right away, or perhaps right away, but rest assured the signs are pointing one direction, up!  

Best bet is to lock in now.  Rates are still very low and why risk missing the boat when the forces seem to be stacking against rates going lower.

Thank you,
Matt Steinmetz
NMLS# 221315
Envoy Mortgage- Voted Top 25 Tech Savvy Lenders by Mortgage Technology Magazine

2151-A2 Salvio St.
Concord, CA 94520
Phone 925-671-9501 x119

msteinmetz@envoymtg.com

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