Photo By Kathryn

Great Bold City of the south.

Christmas Cliff or no cliff

Merry Christmas

Merry Christmas and Happy New year! I will be making a conscious effort to wish everyone A Merry Christmas this year ... My way of saying that I am celebrating. The birth of Jesus Christ. So I am asking If you agree with me, Please do the same. And if you'll pass this on to Your friends

Maybe we can prevent one more American tradition from being lost in the sea of "political correctness."

To one and all... Jesus is the reason for the season!

Under Water on Home loans Maybe something we will keep you posted

"Not enough can be said about the importance of silence!" But there is no silence on rumors that the Treasury Department might try to push through a new initiative, referred to as the "Market Rate Modification Program," which will allow underwater borrowers with non-agency mortgages to refinance to today's low interest rates. That's right, anyone with an Alt-A, subprime, option ARM, jumbo, etc., should pay attention. As one lender wrote to me, "Katy bar the door!" This group has definitely been left out of all the fun, although the Treasury Department, and plenty of major servicers, has determined that borrowers with current LTV's north of 125% who have such loans are more likely to default, despite being current on payments. It is believed that what will be suggested is if a borrower is one of those "Significantly Underwater Borrowers" that is current on mortgage payments, they'll need to do is provide a hardship affidavit with the loan application which is meant to prove a "reasonably foreseeable default" under mortgage securitization rules. And this would supposedly satisfy investors who might otherwise prefer their higher original yield. Each month during the five years after the modification took place, the Treasury would pay loan servicers the difference in interest between the borrower's old rate and new. After the five years are up, the Treasury would stop compensating servicers, regardless of whether said loans were above water or not, and the borrower's interest rate would remain at the lower rate.

Complements Rob Chrisman

Expectations and the loan process

Expectations December 2012 Rob Christman the other day wrote.

LOAN Officers often mention how borrowers, who may not have obtained a loan in years, or Realtor's (who do one or two deals a year) seem "misguided" when it comes to realizing what the current lending environment is like. Some borrowers come through it, only to emerge and say they were "brutalized" by the current mortgage underwriting process. Not that I am here to tell LO's how to do their jobs, but if they can lay some groundwork it might help all parties involved. For example, borrowers might be well advised that "sourcing funds" is an extremely important part of our anti-laundering procedures and enforcement is horrendous for the lender/originator. (In large part due to how property flipping can be used to cleans cash deposits.) Most people outside the banking and lending industry don't understand SAR reports. Sourcing funds is also an extremely important part of meeting the new letter of the law of understanding the borrower's ability to repay as well as establishing a savings pattern. Most people purchased homes when mortgage underwriting was a joke. It's important for every borrower to know that obtaining a loan today is a whole different story, especially traditional (non FHA) lending. It seems that successful LO's aren't afraid to tell clients that credit blemishes and credit scores are much more important now than they were. With average credit scores skyrocketing over the last 3 years, what was once a great score like 700+ is now somewhat less than an average score - most non-industry types don't know the trend. Appraisals are more critical than ever before. The lender's underwriter and the investor's due diligence underwriters/auditors read everything - so should the buyer. (Ha!) Appraisers are struggling to do more appraisals for less money, and it is okay for a lender to challenge a finding in an appraisal, but be prepared to pay for a second appraisal or have an inspection to support your challenge. Prepping the borrower is more important than ever and leaving the critical disclosure of today's mortgage lending reality up to the Realtor or processor is foolish and lazy. Referrals come from insight, education, and performance by both the LO and their processor. I am repeatedly told by originators that they set expectations early and often and remember adults need to hear something 6-7 times before it really locks in (just ask my wife).

First time buyers nudged out by cash offers.

From one of our commentaries complements of Rob Christman: On Saturday, just in time for Sunday's open houses, the commentary discussed how the first time home buyer had been left out of the recent excitement. Deb S., a top Realtor from California, wrote, "Unfortunately for our overall well-being, those purchasers were investors and first-time homebuyers cannot compete with cash. Period. So, they are scrambling like crazy and running from property to property and simply get beaten out (either due to the terms or they can't even make a decision as quickly as a number-oriented buyer can) every time. I am witnessing HOA being slow to react, with management not well-trained or asleep at that wheel, and they are not making any rules about what % of units must be owner occupied and the result is the complete makeover of many complexes into below 50% owner occupancy and thus, unable to get a loan. The homeowners aren't informed from the management, they have no idea who is buying, what the repercussions are, and they are suddenly in a home they cannot refinance and must sell at a substantially lower price when our market stabilizes and the investors slow down. I can't wait for prices to take a jump up so the market is in balance and homeowners can sell again with some equity and the buyers are a more balanced lot... OR maybe what really needs to happen is for rents to drop off their highs and those properties won't look as appealing. Nothing good came out of the Vegas buyout or the Arizona buyout and they are happening all over again - this time add Reno plus many, many more. And another note regarding Saturday's commentary came from Mike L. who wrote, "I have a comment on the "lack" of first time homebuyers that actually are buying homes. By my experience, it's not for the lack of them trying. I have pre-qualified a multitude of First Time Homebuyers and they are writing offers on homes. Typically they are using either FHA financing or Conventional financing with 5% to 10% down (some even with 20% down). However they are typically writing offers on lower priced "entry level" properties. These properties are also very attractive to investors, so we are getting constantly beat to the punch by investors using all cash or very large down payments. It's hard to blame the seller. Why wouldn't they take an "all cash, higher priced offer" over the lower down payment first time buyer? Some of my first time buyers have been trying for well over a year to have their offers accepted. Combine this with the lack of inventory. See us for more

‘Master of Motivation’ Passes at 86 Zig Ziglar

‘Master of Motivation’ Passes at 86

What a guy made a big difference in my life.

Sure he did for many of you!

Give More from Zig

HARD Money loans are changing in 2013

Things are to change: We do not do hard money any longer and boy am I glad! With the Dodd Frank bill having no chance for repeal, it appears their new purposed rule changes will be enforced. Most of these new rules affecting our industry revolve around Owner Occupied residential consumer loans. These changes will begin in January 2013!!! We only have one more month to close Owner Occupied Hard Money loans before the hard money world is turned upside down. Some of the changes that will greatly impact the “Hard money” space are listed below. -NO financing any lender or broker points within the loan! Yes, this means the borrower will have to pay the origination fees out of their savings or finance it on a credit card……..no joke! -NO Prepay protection will be allowed to the lender! This will eliminate Athas Capital’s ability to offer ZERO points for our residential product, a feature that has allowed the majority/total of points to go to the broker! -No Balloon payments will be allowed! This will likely force the vast majority of lenders to exit the O/O Hard money arena because they are use to short term commitments. Forcing these lenders into 30 year fully amortized loans goes against the Hard Money principal of a short-term hold! All Hard Money brokers that use private investor money will not be able to talk their investors into a 30 year loan. -All borrowers that do still want to get Hard Money/Alternative lending loans on their home will be FORCED to attend Consumer counseling set up by HUD. This will create another barrier to obtaining financing on their home! These pending changes will wildly affect the cost of capital to the consumer in a negative way. If you have a borrower considering alternative lending in order to get them into their dream home, or simply getting the capital they need… We are still Here for your Conforming, FHA, VA, USDA and Jumbo financing.

FHA is going to go up in costs

For more information

Earlier today from My friend Rob Christen: And no one should be surprised if the FHA raises its annual mortgage premium to possibly 2.05% - it can do that now. In 2013, HUD will once again raise mortgage insurance premium charges an additional 10 basis points, which will result in a $13 per month increase for the average FHA borrower. New borrowers early next year are likely to be charged slightly higher annual mortgage insurance premiums: 1.35% of the loan balance rather than 1.25% at present. This also is a reason to see about the current PMI/MI coverages as an alternative to the FHA. See some examples here

Just one more thing.

Earlier today a super quote from Dan. “The difference between ordinary and extraordinary is often, one more thing” Thanks Dan Rawich Mortgage Coach commentator with Prime lending Think of us when you can

We know that rates and prices of homes will change. Here is an example. What if prices go up and Mortgage rate also What if prices go up and Mortgage rate also http://mcedge.tv/16elfy

Google Mr. Will from Jacksonville

Mr. Will from Jacksonville and the Mortgage Minute: Courtesy still pays high dividends

Mr. Will from Jacksonville and the Mortgage Minute: Courtesy still pays high dividends: From Forbes Thought of the Day MWfJ <>< www.willrudloff.com I believe in courtesy, the ritual by which we avoid hurting other people's...

Courtesy still pays high dividends

From Forbes Thought of the Day I believe in courtesy, the ritual by which we avoid hurting other people's feelings by satisfying our own egos.” — Kenneth Clark

Thanks Forbes for your thoughtful quotes. MWfJ

Jobs and qualifying for mortgages

With all the changes that have taken place in the markets today many are making changes and some are staying put. When applying for a mortgage loan the lenders are looking for job stability and will at the last moment at the closing have the Closing Agent or Attorney’s office call your current employer to make sure you still work there. Just a thought and a need to know. Say you just made a job change and you do not have a probationary period to work say 90 or 120 days, and the new job is similar in scope you’re ok, however you must have 30 days of pay stubs to get the loan approved. Just a thought on the timing for your closing. Food for thought when making job change timing is everything.

Buying a Home needs repairs ?

There are programs out there to do this, however need to be patient and not in a rush. Fannie Mae has Home Path and a great Realtor that offers these, that we have done several with is Sandra Fisher PLANTANA REALTY, INC. (904) 284-9600 OFFICE (904) 591-1391 DIRECT (904) 284-0805 FAX The last one we were able to complete She had the investor pay a great bit of the closaing costs. Thanks Sandy.

Are we there yet?

Here is an interesting read under our the perfect loan file by Forbes a while back. The rules are changing and we get calls where the client will say at least we can call you and someone answers the phone.

World Markets, Mortgage Rates Wait on Bernanke | Mortgage Rates & Trends: Mortgage Blog

World Markets, Mortgage Rates Wait on Bernanke | Mortgage Rates & Trends: Mortgage Blog

Ever wonder why someones words are so powerful. Mr. Will from Jacksonville

The first Time buyer and Meriah covering your back.

Take a moment and go to our site and do some checking on the left on first time home buyers and do the course. What happens is that the home buying process is so complex and a lot of our clients find out like in the little picture of our little gal Meriah it is not only good to have the knowledge, but someone covering your back.

Current Mortgage Rates for Monday August 6 2012 | Mortgage Rates & Trends: Mortgage Blog

Current Mortgage Rates for Monday August 6 2012 | Mortgage Rates & Trends: Mortgage Blog

Sometimes we have to say to our clients is it to your advantage. See the picture here and if the goal is to save money monthly yes if not no.

The actual loan this time of year when property taxes will be due in November can skew the numbers. Call if you want to see if for or against you. 

Office Hours 9-5 ??

Open 9 AM Closed at 5 Pm Not..... You know when a client calls late in the day, do all you can to call them back if it is at all possible. When you leave something hanging until tomorrow it sometimes leaves a bitter taste in a clients mouth or a feeling that they are just a number. If you call a client at 9 PM or later that speaks volumes to a client as they needed you after hours or would not have called you. Thanks God for giving me a calling not just a job as the mortgage Guy. :)

Do I have to make next months mortgage Payment?

As you may know, the rules for refinancing a mortgage have changed.( The process is a lot slower) So, too, has the advice we now give clients regarding payment. Back in the day, you could hold off making payment until your loan closed. This is not the case today. You should continue making payments while you’re waiting for the loan to close. Don’t take any chances that may jeopardize your refinancing project.

HARP refinancing is it for me?

Look what happened to one of our clients:

Click on this image left to make it larger. Any Questions see our web page

What the clients are saying

Buyers today want answers and calls returned in a timely manner. The biggest rub from our clients, call backs and the Mortgage Broker to show up at their closings.

Mortgage insurance what about it..

Sometime it is the right thing to do: Exploring Loan Options [PrivateMI.com]

My Ears hurt? There is an App for that

I remember when ours were little and my Grand son Todd Robinson had hearing loss from it. Ear Aches are no fun... We are about the Mortgage process, however this hits close to home.

Ever wonder what people say about you?

Just the other day someone asked me, are you Mr. Will? Well yes! We saw your truck and the Google sign on the back; Google Mr Will from Jacksonville. You may not know me the woman asked, but a while back we called you, and you gave us some valuable information about our mortgage. Well thank you, as we were actually taken back by her kind comments. You know afterwards we mentioned to my wife Gayle, isn't it so refreshing to know we are able to help others even when we never know until afterwards the outcome. This prompted this Video, and hope it will give you something to think about as you share with others information about your craft where no money is involved. Here is something funny and also about this event.

First Time Home Buyer link

Buying your first home things you need to know Buying a home can and should be a fun project, however the link above is well worth your time getting the Certificate So do your homework then call Mr. Will from Jacksonville

HARP 2 Refinancing

Got an interesting call earlier: A past client from back in 1989 said he got a mailing on the HARP 2 Loan refinancing for upside down home owners. Why would I want to deal with someone out of state, can you do these Mr. Will? My reply thank you; you bet we can and we will return your phone calls, and even go to the closing with you. See us www.willrudloff.com

HARP 2 Loans Underwater Properties

Don't forget there are options for those Think of Mr. Will if you have questions. We are a friendly bunch and a team that work hard for you and even answer our phones.

Home Buyers sometimes Get to me

Another great closing after much anticipation, we got ER' Done. Without co-operative clients and all being on the same page this would not get done. Thanks Amy and Tommy and all who made this possible. Mr. Will from Jacksonville htt

Applying for a Military Mortgage Loan │ Housing 1 Source - Housing 1 Source - Military Relocation Made Easy and At No Cost To You

Something we found earlier. If you have any questions also feel free to Call Mr Will


Applying for a Military Mortgage Loan │ Housing 1 Source - Housing 1 Source - Military Relocation Made Easy and At No Cost To You

Auto repair and Honesty

Auto repair is something we all from time will need and the folks at

Hugh's Automotive

in Riverside go above and beyond in giving you the complete scoop even if you may not like the outcome. Eric thanks for the great information and Hugh a great courteous staff. Call them when you need professional advice and see their web site second to none. Mr. Will from Jacksonville

Happy Home~Owners is my Job

Boy the mortgage Brokers life today is so stressful, we are still trying to make the process less painful. Thanks so much GREAT CLIENTS and FRIENDS. Mr. Will from Jacksonville. We are in the process of re vamping our Web Site so please be patient and let me know your feedback so we can make it more client friendly. M/W tm

HARP @ Hype or ??

Hype about HARP 2 and You. Excerpt from the Los Angles times, CNN News, Fox, MSNBC Like all loan programs, HARP 2.0 can’t solve all problems for all homeowners seeking to refinance. To be eligible under the current program, the mortgage must be owned or guaranteed by Fannie Mae or Freddie Mac. These programs set up a loan limit of $417,000, but can be up to $625,500 in high cost areas. The current loan-to-value ratio (LTV) must be over 80% and has no LTV limit for fixed rate mortgages Homeowners must be current on their mortgages, with no late payments in the past six months and no more than one late payment in the past year. Even with these limitations, however, many homeowners should be able to lock in some very favorable interest rates, and help put their upside down houses back on their financial feet. That is, for borrowers who qualify. Questions ask Mr. Will or Email mrwilljville@comcast.net

Double Check Yourself - View topic - Manta Connect

Double Check Yourself - View topic - Manta Connect

Earlier today one of my Business partners called me and mentioned we had a typo on our e mail message signature. How timely this article was.

Thanks Ron Promo Express. 

Memorial Day Weekend what service 9:00AM or 11:00 AM?

We were spared as far as the Storm it could have been so much worse thank God. Here is a cute story shared by our Sunday school teacher Sunday. THEY DIED IN THE SERVICE One Sunday morning the pastor noticed little Alex was staring up at the large plaque that hung in the foyer of the church. The plaque was covered with names, and small American flags were mounted on either side of it. The seven-year-old had been staring at the plaque for some time, so the pastor walked up, stood beside the boy, and said quietly, "Good morning Alex." "Good morning pastor," replied the young man, still focused on the plaque. "Pastor McGhee, what is this?" "Well, son, it’s a memorial to all the young men and women who died in the service." Soberly, they stood together, staring at the large plaque. Little Alex’s voice was barely audible when he asked, "Which service, the 9:00 or the 11:00?"

Empowerment

We are one of those half full type people so the empowerment of self comes from within. As a man/ women thinketh so is he/she. Speaking of empowerment these folks at National Credit are miracle workers in helping my clients see daylight in the credit process. Robert Gutmann Regional Account Manager National Credit Care Office: 866-595-6313 ext 407 Cell: 210-287-6363 Sales Fax: 888-501-3253 Processing Fax: 877-754-5724 www.nationalcreditcare.com

Questions

Understanding Mortgage Rates - NASDAQ.com

Understanding Mortgage Rates - NASDAQ.com

Something to think about is it the rate or the cost?

Troubles and Man

Forbes Thought Of the Day “A man handles his troubles during the day; he goes to bed at night a General, Captain, or Private.” — Edgar Watson Howe

To contact Mr. Will

Honey and How Much

We saw this special on Honey and wanted to pass along. Our Pastor always talks about his special Honey cures so maybe this will be helpful. How much Honey and for what http://www.benefits-of-honey.com/about-honey.html Thanks for letting us share Mr. Will from Jacksonville

Mortgage Closing Time Lines Sad but True

From earlier Rob Christman on the loan process: Accenture Credit Services announced that, "Low interest rates, less competition, more regulation and tighter credit standards have pushed the time it takes the biggest mortgage lenders to refinance a mortgage loan from 45 days a year ago to more than 70 days now." Underwriters, who in the past could underwrite 6-8 files a day, now do 2-3 - and they've turned into auditors instead of underwriters. And the borrower, of course, is the one who pays the cost of the longer time frames and the higher overhead. See Mr. Will from Jacksonville's web page or Google

Your Mortgage IQ

Refinancing with the new HARP 2 for Underwater Home Owners is it easy? Yes or No How long could it take 30days 60 days 90 Days Comment below or call Mr. Will and go to our Website and post your comment or you can also post below make a comment

Mothers Day Dale Burns Sunday School Class

Mom's are Special

Mom's are really Special

This may make you cry

From Sunday School Class Sunday Dale Burns

Kim Wiggins earlier today on Mothers are busy

See Ms. Kim in action earlier

Dale Burns Sunday School Class Mothers Day 2012 3rd Video

Mother's Day and guess What?

KIm Wiggins is preaching in church today on mothers day. Rock Sister Kim.

Communication what are you saying

One of our recent videos on Bank bobbers and communication it cost him his life.

The Players Championship Then and Now

The PLAYERS may no longer be the fifth major. But it’s still a great tournament, thanks to its strong field, its designer and it’s money. In 1982, its first year at the Sawgrass Stadium course, the total prize money equaled $500,000. This year, the prize money will be more than $9.5 million, the richest event on the Tour.

Monte Burke, Forbes Staff

Not bad from 500k to $9.5 million MWfJ™ Mr. Will from Jacksonville

Look for our next post on the ever changing pieces of the Mortgage Pie

.