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Lenderama Mortgage Blog

The Original Mortgage Blog. Providing the Mortgage Industry with News and Information Since 2005.

Last Build Date: Thu, 05 Nov 2015 18:00:40 +0000


FHA Makes “Economic Event” an “Extenuating Circumstance” and It’s About Time!

Mon, 23 Sep 2013 17:05:38 +0000

FHA Makes “Economic Event” an “Extenuating Circumstance”   By: Tracey Rumsey, Staff Underwriter & Karen Deis, Publisher, Well, it took 6 years – but FHA has decided that a job loss or decrease in income can now be considered an “extenuating circumstance,” which means additional business for you. It’s great news for borrowers – […]

Jumbo Renovation Loans Opening Doors in the High-End Market

Sat, 21 Sep 2013 19:44:25 +0000

Breaking New Ground with Jumbo Renovation Financing  I have been a renovation loan specialist for years and have begged every employer that I’ve had for one thing, a jumbo renovation loan. I have finally gotten my wish and the high-end, luxury market has a new financing toy. There’s always been a huge gaping hole in […]

Property Condition When Selling A Property

Thu, 09 May 2013 19:55:16 +0000

When you plan on selling a property, it’s important to remember that most buyers will have to take out a mortgage to buy your property.  When a mortgage company or bank looks to help finance a property for a buyer, an appraisal will be necessary to show condition of the property.  If there are any […]

Don’t End Up In Fair Housing Jail!

Tue, 09 Apr 2013 18:05:19 +0000

Title:  Don’t End Up in Fair Housing Jail! Karen Deis, Publisher,  & Tammy Butler, Here’s a story that is happening more and more as the CFPB hires more people to “police” FAIR HOUSING – Can you defend yourself in case of an audit? Examiner:  Mr. Mortgage Company:  can you please tell me why this […]

Have The Regulators Seen Their Shadows?

Tue, 19 Mar 2013 17:23:33 +0000

Have the Regulators Seen their Shadow? Karen Deis, Publisher, – View free video blog on home page. Well, it seems like the agencies have “seen their shadow” and crawled back into a hole—because there were only a few updates within the last 30 days! As part of the continuing mini-series of breaking apart the various […]

So, What’s This About a Social-Media Quality Control Plan and Your Mortgage Business? (FFIEC)

Tue, 05 Feb 2013 14:16:51 +0000

Social Media & Mortgage Marketing – FFIEC Proposed Rule By: Karen Deis, Publisher, So, what’s this about the social media quality control, mortgage marketing and the FFIEC?  We’ve taken the 36-page proposal and condensed it for you into just a couple of pages.  And, YES, this affects you, your company and third-party providers who […]

Big Brother is Watching – Joint Venture between FHFA and CFPB to Monitor the Mortgage Market

Wed, 02 Jan 2013 14:52:33 +0000

Joint Venture between FHFA and CFPB to Monitor the Mortgage Market! A new national mortgage database is being created to provide the ability to track and monitor various topics.  Some of the ways this database would be used would be to: Monitor the relative health of the mortgage markets and consumers by tracking mortgage loan […]

Just So There’s No Misunderstanding–Mortgage Rules & FAQ’s

Tue, 11 Dec 2012 19:06:55 +0000

Title:  Just So There’s No Misunderstanding By: Karen Deis, Publisher, Before I get started with the updates for December, what I’ve noticed over the last few months is that Fannie, Freddie, FHA, VA and USDA have issued quite a few clarifications and updates in the form of FAQ’s and enhancements to cover the “grey […]

FHA Mortgage Program: Popular Among First Time Home Buyers

Mon, 12 Nov 2012 04:58:48 +0000

The FHA mortgage program has become a very popular mortgage program with first time home buyers.  Home buyers do have many options with mortgage programs when looking to get pre-approved, but the FHA program has become the most popular. There are many reasons why the FHA program has become very popular among first time home […]

With Refinance Booming, VA Loan Volume Hits 18-Year High

Wed, 17 Oct 2012 16:27:12 +0000

VA loan volume hit an 18-year high in the fiscal year that ended in September, according to data recently released by the Department of Veterans Affairs. The significant increase — both historical and year-over-year — is another sign that military borrowers are moving away from the tighter conventional lending space and toward the VA loan […]