Financial Update by Maurice Soussé

The bell is about to ring and you will ready for the first Margarita of the night. Salt the rim please..

Interest rates are just a tad higher than we had last Friday as the 10 year treasury bond closed up this Friday from its record lows last week. Rates are still incredible as you can see on the attachment. We are constantly asked about jumbo mortgages and are they still available. I can tell you that true jumbo loans are still out there and are at some of the lowest rates in history as well. Take a look.

The processing item this week is a quick reminder on a few outside the box items:

1) We still have asset depletion (calculating income for retired borrowers who have strong assets)

2) We still have in house underwriting for most of our loan products as we are a direct lender

3) If the property is a FLIP transaction, please be sure to let us know right up front as there a few various items we must address in the loan package 4) A non-occupying co-borrower is still allowed to help a child or sibling qualify; both FHA and conventional loans 5) Remember that most underwriters are now requiring any furniture being left behind to be given a value or they will assign a value. They then lower the loan amount. It is better to leave furniture/personal property out of the contract.

If you are ever being hard on yourself, remember We learn wisdom from failure much more than from success.