tag:blogger.com,1999:blog-5833172277289606315Sun, 25 Oct 2026 09:05:58 +0000MortgageEconomyFHALoansCredit ReportFannie MaeFinancesInterest RatesBorrowerCharacterConstruction LoansConstruction StartsDistressed MarketsElectricityFacebookFinancingForeclosureFreddie MacFunny FridayGuideline ChangesH.R.Bill 3221Home SalesHomesInvestorLTVLendersLoan ProcessLot LoansLuxury MortgageMergersMiscellaneousMortgage LicensingMortgage SpinMortgagesMy CommunityNew BloggerPay-offPeopleProperty ValuesReal EstateSalesSelling TipsSmall BusinessTaxesUSDA Rural HousingWeb 2.oWeek In Reviewconsumer debtdebt ceilingself-employedNeed a loan! Find information and articles related to the Phoenix Lending Market and current Morgage Trends in Arizona Real Estate.http://emurriettalending.blogspot.com/noreply@blogger.com (Unknown)Blogger83125tag:blogger.com,1999:blog-5833172277289606315.post-6249937193229934969Fri, 28 Feb 2014 00:48:00 +00002014-02-27T16:48:06.940-08:0090% of the time - this blog is to provide knowledge on the mortgage industry. In some instances I write about experiences. This is a confession - a confession that isn't dramatic or really all that juicy. But a confession in that we must recognize when we fail and work to be better so we don't repeat the failure. There is a time to speak, and there is a time to listen. And the truth is that http://emurriettalending.blogspot.com/2014/02/leading-with-your-mouth-closed.htmlnoreply@blogger.com (Unknown)21tag:blogger.com,1999:blog-5833172277289606315.post-8373688976932378276Fri, 14 Feb 2014 17:04:00 +00002014-02-14T09:04:30.546-08:00In the November issue of Mortgage Banking - they outlined some statistics that showed the thrust of originations in 2014 was going to be a result of increased purchase business as refinances continued their decline.  The percentage of refinance originations vs. the total market share was as follows in 2013: 74% in the 1st quarter 66% in the 2nd quarter 54% in the 3rd quarter *est. 45% in http://emurriettalending.blogspot.com/2014/02/building-purchase-business.htmlnoreply@blogger.com (Unknown)8tag:blogger.com,1999:blog-5833172277289606315.post-5964537670922160226Fri, 24 Jan 2014 21:31:00 +00002014-01-24T13:31:37.773-08:00We all know that "Nooks and Crannies" denotes hiding places.  The places in the home where dust mites, spiders and nic-nacs go to rest.  We also know that discovering items in "nooks and crannies" can sometimes be unpleasant - because let's face it, who wants to clean dust, find spiders, or search for that missing nic-nac that you just "know was on the table". As far as mortgages http://emurriettalending.blogspot.com/2014/01/nooks-and-crannies.htmlnoreply@blogger.com (Unknown)12tag:blogger.com,1999:blog-5833172277289606315.post-2472583084984975481Fri, 10 Jan 2014 19:39:00 +00002014-01-10T11:39:25.911-08:00QM (Qualified Mortgage) and ATR (Ability to Repay ) have arrived.  Effective today, January 10th, 2014 - the Dodd Frank Act piece of legislation on mortgage reform arrives and with it comes the new rules that will have an impact on mortgages moving forward. Some of the main changes that have come down: Most mortgage will need to meet the criteria as follows: Max http://emurriettalending.blogspot.com/2014/01/state-of-mortgage-market-qm-qualified.htmlnoreply@blogger.com (Unknown)1tag:blogger.com,1999:blog-5833172277289606315.post-6623441948055548551Mon, 23 Dec 2013 20:39:00 +00002013-12-23T12:39:31.715-08:00The final piece in our philosophy.  H is for homeownership.  We are in the business of financing the most important (and largest) transacation that most people will have in their lifetime...and we don't take that responsibility lightly.  It's immensely important that we always remember that we play a huge part in ensuring a successful outcome for all of our clients.  If http://emurriettalending.blogspot.com/2013/12/h-homeownership.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-5833172277289606315.post-7685411125508392777Mon, 16 Dec 2013 21:08:00 +00002013-12-16T13:08:17.859-08:00I am going in reverse order - but it keeps things interesting.  Homeowners Financial Group USA, LLC - is committed to delivering 3 key concepts withing our business.  They are creatively crafted out of our initials...H...F...G.  Last week I spoke about the "G" and giving back and today the "F" - Family.  It's thrust comes in who we hire and how we do business. F - Stands for http://emurriettalending.blogspot.com/2013/12/f-is-for-family.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-5833172277289606315.post-2641723953851618247Wed, 11 Dec 2013 23:16:00 +00002013-12-11T15:16:03.869-08:00What's it mean if we aren't giving back?  We spend too much time concerned about our needs, our wants, our desires, that we miss out on valuable opportunities to help those around us who may truly be in need.  I believe that we must see the need in others and work to meet that need.  As part of Homeowners Financial Group USA, LLC - we are serious about that statement above.&http://emurriettalending.blogspot.com/2013/12/g-stands-for-giving-back-its-not-just.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-5833172277289606315.post-5603568861260131805Fri, 06 Dec 2013 21:27:00 +00002013-12-06T13:27:45.371-08:00The mortgage market has pulled through what was the longest stretch in refinance history.  Often times, "refinance booms", last a few months to maybe a half a year, but we have seen the most recent refinance wave last almost 18 months.  This has definitely freed up liquidity for clients that were able to take advantage of rising home prices and lower rates.  It also helped http://emurriettalending.blogspot.com/2013/12/preparing-for-2014.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-5833172277289606315.post-6703798033972207030Thu, 07 Nov 2013 22:27:00 +00002013-11-07T14:27:57.753-08:00Since late October, the "Street of Dreams" as been open in Gilbert, AZ.  The last "Street of Dreams" in AZ was back in 2007 and so there has been pent up demand for homes like these.  They range from $1.7MM - $2.7MM in price and are absolutely exquisite.  Everything from two story waterfalls to kid-size chess sets on a balcony over looking the San Tan Mountains.  From http://emurriettalending.blogspot.com/2013/11/street-of-dreams-not-just-for-rich.htmlnoreply@blogger.com (Unknown)1tag:blogger.com,1999:blog-5833172277289606315.post-7622711529457591950Mon, 07 Oct 2013 22:09:00 +00002013-10-07T15:09:19.639-07:00With the prolonged government shutdown, and it appearing as though it won't be resolved for the next few days, here are some helpful tips as we work through the shutdown. ·         FHA and VA are the most commonly affected programs as they are funded by the government.  However, there is no change to the ability to complete VA or FHA loans due to http://emurriettalending.blogspot.com/2013/10/government-shutdown-impacting-mortgages.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-5833172277289606315.post-1012610725992909357Wed, 11 Sep 2013 22:29:00 +00002013-09-11T15:29:04.333-07:00What drives mortgage interest rates?  In a very general sense, mortgage rates are determined by the overall economic environment.  Since 2008, and the Great Recession, we have seen a steady drop in the mortgage interest rates for consumers.  As the overall economy has begun to see some improvement, we have started to see those borrowing costs increase.  But what contributes tohttp://emurriettalending.blogspot.com/2013/09/how-are-mortgage-interest-rates.htmlnoreply@blogger.com (Unknown)1tag:blogger.com,1999:blog-5833172277289606315.post-4535025036801090004Tue, 27 Aug 2013 00:06:00 +00002013-08-26T17:06:35.823-07:00"How long do I have to wait until I can buy a new home after..." - the question that begins with a heavy pause and usually ends with a heavy sigh.  However, there have been some great new programs that can help borrowers who have faced difficult financial times and are ready to buy a new home. Let's start with the bad news - in 90% of the cases, you will need to put down a significant http://emurriettalending.blogspot.com/2013/08/foreclosure-and-short-sale-waiting.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-5833172277289606315.post-8293129743076751813Fri, 16 Aug 2013 23:15:00 +00002013-08-16T16:15:18.958-07:00In the last post we discussed Mortgage Insurance - what it is and why it is needed?  We dealt specifically with the conventional loan requirements on Mortgage Insurance and hinted at FHA - the Federal Home Administration program. How do they differ?  FHA - requires a two step process with Mortgage Insurance.  They have an Upfront Mortgage Insurance payment that is equal to http://emurriettalending.blogspot.com/2013/08/fha-mortgage-insurance-whats-all-fuss.htmlnoreply@blogger.com (Unknown)1tag:blogger.com,1999:blog-5833172277289606315.post-6143890890847153638Mon, 12 Aug 2013 23:45:00 +00002013-08-12T16:45:34.035-07:00Everyone has heard of Mortgage Insurance, but it often is confused with Homeowners Insurance when people initially start the mortgage process.  Because of that I want to clarify a couple types of insurance and then speak to the main point of Mortgage Insurance; what it is and what it is for. The main insurance that any borrower is going to need when buying a home is "Homeowners Insurance".&http://emurriettalending.blogspot.com/2013/08/mortgage-insurance-whats-it-for.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-5833172277289606315.post-4756669497440150769Wed, 07 Aug 2013 17:15:00 +00002013-08-07T10:15:06.349-07:00The joy's of buying your first home are sometimes overwhelmed by the frustrations of buying your first home.  But with the right team of people, working for you, the process can be worked through without too much headache. The basic steps: Find the right Realtor - This point cannot be overlooked.  There are bad realtors.  It's a fact.  There are realtors that care only http://emurriettalending.blogspot.com/2013/08/i-am-buying-my-first-home-now-what.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-5833172277289606315.post-7897973998646676157Thu, 18 Apr 2013 18:59:00 +00002013-04-18T11:59:47.961-07:00This is about a week later than I wanted, but I was able to implore the help of one of our newest colleagues- Sarah Stedman.  She is an up and coming LO and so her insight into questions from potential clients was greatly appreciated.  So without further ado - Part 2: What is the difference between an ARM and a Fixed Rate? ARM (Adjustable Rate Mortgage) is a mortgage product that http://emurriettalending.blogspot.com/2013/04/common-mortgage-questions-part-2.htmlnoreply@blogger.com (Unknown)2tag:blogger.com,1999:blog-5833172277289606315.post-3861672252457980957Fri, 12 Apr 2013 23:48:00 +00002013-04-12T16:48:21.237-07:00 Everyone asks, when is it going to be easier to get financing?  Why do we have to jump through so many hoops to get a loan done?  Keep asking those questions and you may never like the answers.  Start asking questions like: How CAN we get financing on this new home purchase?  What ARE the options for my particular situation?  We have to continue to frame things http://emurriettalending.blogspot.com/2013/04/changing-mortgage-perceptions.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-5833172277289606315.post-7489007424661650262Mon, 01 Apr 2013 20:05:00 +00002013-04-01T13:05:00.249-07:00Mortgages are complicated - Truth.  Buying Real Estate is complicated - Truth.  But just because something is complicated, doesn't mean it can't be understood.  My suggestion on the Real Estate side of things - find a competent and well versed Realtor in your target market area that works hard for you.  As far as mortgages go - here are a few of the common mortgage http://emurriettalending.blogspot.com/2013/04/common-mortgage-questions.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-5833172277289606315.post-7486983422441519099Fri, 29 Mar 2013 20:37:00 +00002013-03-29T13:37:16.578-07:00 Join us at the Scottsdale Civic Center! April 2nd, 2-4 PM Civic Center Library Auditorium 3839 N. Drinkwater Blvd. Scottsdale, AZ 85251 National Guest Speaker: Steve Richman Steve Richman is a national speaker who has energized, taught and motivated more than 100,000 professionals in every state in the US. Steve has trained Real Estate professionals through state accreditedhttp://emurriettalending.blogspot.com/2013/03/homeowners-financial-hosting-steve.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-5833172277289606315.post-3760704365604997006Tue, 12 Mar 2013 19:40:00 +00002013-03-12T12:40:44.623-07:00Jon Enright - Kings and Associates Realty, has been hard at work putting together a great website with Chaz Boyce of David Stone's Production and Design. I was lucky enough for them to let me participate in building a video that will help explain some often asked questions of mortgage professionals. The link to the video is here: http://www.youtube.com/watch?v=iAfQum2wsts So if you need a http://emurriettalending.blogspot.com/2013/03/5-questions-for-mortgage-professional.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-5833172277289606315.post-4707481488753188761Wed, 06 Mar 2013 19:42:00 +00002013-03-06T11:42:34.360-08:00The old saying goes, "In this world, nothing can be said to be certain except death and taxes."  Famously credited to Benjamin Franklin in 1789.  And while this has been true for over 200 years...we can add one more to the list - an Underwriters request for tax returns. In 95% of cases in the current Mortgage Loan Underwriting climate, tax returns are needed and not only are they http://emurriettalending.blogspot.com/2013/03/tax-returns-how-do-they-factor-into.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-5833172277289606315.post-1824261243589539375Tue, 26 Feb 2013 18:04:00 +00002013-02-26T10:04:31.365-08:00Can someone assume my loan?  In most cases, the answer is no.  The main reason is due to 2 predominant factors: 1) Since the mid -80's conventional financing does not allow the loans to be assumable and 2) Due on sale clauses within the Deed verbiage now forbids the transfer of the loan to the new buyer without recourse from the current servicer/lender. Of course, assumable loans - http://emurriettalending.blogspot.com/2013/02/assumable-vs-non-assumable-loans.htmlnoreply@blogger.com (Unknown)34tag:blogger.com,1999:blog-5833172277289606315.post-8542772719118518015Thu, 21 Feb 2013 20:33:00 +00002013-02-21T12:33:33.058-08:00April 1, 2013 - FHA will be making changes to it's programs in order to continue to create capital and strengthen FHA and its insurance program for many years to come. If you weren't aware, FHA (the Federal Home Administration) was originally created to help new and first time home buyers purchase a new home using a program that required little down payment and used Mortgage Insurance, both http://emurriettalending.blogspot.com/2013/02/fha-changes-coming.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-5833172277289606315.post-7066918814088405465Tue, 19 Feb 2013 19:41:00 +00002013-02-19T11:41:47.714-08:00One of the first books I was given to read when i entered into the banking world was, "Who moved my Cheese." by Spencer Johnson.  While simplistic in its approach, the message is loud and clear to all who have read it - change will come.  So, when whange comes - which inevitably it does...what do you do with that change? I bring this up to enlighten past readers of http://emurriettalending.blogspot.com/2013/02/changes.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-5833172277289606315.post-4393073935913797579Thu, 03 Nov 2011 21:39:00 +00002011-11-03T15:08:04.388-07:00Whew! What an end of the month! October came and went so quickly with so many new and exciting mortgages to complete for my clients. Overall I closed 7 loans last month, 5 Conventional Purchase, 1 Homepath Purchase, and 1 FHA Refinance. Not bad. Most of them were great.I was able to help 2 couples upgrade from their current homes and into a bigger residences for their growing families, while http://emurriettalending.blogspot.com/2011/11/deals-deals-deals.htmlnoreply@blogger.com (Unknown)3