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DU or LP? How can one lender do something that another lender cannot...


How can one lender do something that another lender cannot these days……………….DU and LP.    What?  You have never heard of those acronyms or maybe you have but not 100% sure what that means to you? I’ll let you know how this can help you close more transactions in a moment but first a little background. Most Realtors have heard of these but may not know the “back-story”.  All loan originators know the power of[...]


Bad Credit Waiting Periods


Every week I am asked multiple times about how long a buyer needs to wait after a serious credit issue before they can purchase again.  Fannie Mae, Freddie Mac, FHA, USDA and VA have fairly clear guidelines around these timeframes.  I have  below is a great “go-to” flyer for the typical required waiting periods after a serious derogatory credit event. As always, best is to have them call me so we can determine exactly where they fall in the[...]


FHA - Change to the Flip Rule


A quick heads up regarding a change with all FHA loans effective January 1, 2015………(don’t shoot the messenger). Anyone working with a seller that acquired a property less than 90 days ago and is “flipping” it to a new buyer using an FHA loan or any buyer negotiating a purchase of a home from a seller who acquired the property less than 90 days ago and wants to use their FHA loan to buy We don’t see this come up much anymore, but[...]