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May 26, 2015

Housing Prices Went Up in April

Housing prices were up in April, and sales blew past economists expectations, but inventory continues to be tight.

Read the full story at

May 18, 2015

Now Get Live Pricing That You Can Not Get On Any Other Website

You can now find pricing that includes all the third party fees most lenders and quote websites leave out.

They always say this is your total closing cost, then if you are lucky, you will notice in small print somewhere, it says, "Other Third Party Fees May Be Required". They normally include: Appraisal fee, Notary Fee, Credit Report Fee, Title, Escrow, Recording, PUD Cert, Flood Cert, and other junk fees. hese fees normally range from $1,150.00 to $3,000.00.

Its very important that you know about all the cost up front, especially if you are looking for a NO POINT, NO FEE mortgage. (Free Refinance or Purchase)

Find out more at SoEZ.Mortgage.
On our site, if you see the total closing cost is $-1,007.00 that means there is no closing cost at all, and you are getting paid $1,007.00 to drop your rate.

3 Myths About Reverse Mortgages

Do you remember when the last player repeated the message - it was completely different than the original message!!

The first reverse mortgage loan was closed in 1989. Since that time there has been a lot of "campfire" activity with regard to myths and erroneous information that has circulated with this product. Here are some of the more common ones:

Myth #1: The lender or government will own your home.

False -With a reverse mortgage loan, you, your family and/or your estate continue to retain ownership of your home. The lender does not take control of the title. The lender's interest is limited to the outstanding loan balance as a lien on title.

Myth #2: The reverse mortgage requires that I make monthly payments.

False - There are no monthly payments required to your lender, however, the borrower is responsible for payment of all property taxes, insurance, and general upkeep of the home.

Myth #3: My children will be held responsible for the repayment.

False - The reverse mortgage is a non-recourse loan. This means that the lender can only derive repayment of the loan from the proceeds of the sale of the property. Even if the value of the home is reduced due to economic, mar­ket or property perils, you or your estate can never owe more than the value of the home. Although your heirs will not be responsible for repayment, they are able to work with the loan servicer to repay the loan and as an option buy the home for themselves.

May 13, 2015

Vice President of Freddie Mac Announces New Changes Making It EZ For Everyone

A Message from Christina K. Boyle

May 13, 2015

Over the next several months, you'll hear about how Freddie Mac is focused on expanding access to credit responsibly. One of the ways we're doing this is through our technology. We're enhancing our current tools and building new applications to provide additional rep and warranty relief for lenders earlier in the loan manufacturing process. This builds off the foundational work we've done with our rep and warranty framework over the past few years.
I also want to let you know that we're eliminating financial barriers to our tools. To underscore our commitment here, beginning June 1, Loan Prospector® will be free for everyone. I'm excited about this change so you'll hear more about it over the next several weeks.
Your success is very important to us and we thank you for your business.
Christina K. Boyle
Senior Vice President,
Single-Family Sales & Relationship Management


She forgot to mention she loves So Easy Mortgage. Next time perhaps. 

May 7, 2015

TRID Effective Date is Less Than 100 Days Away—Are You Ready?


Closing Disclosure - (Goodbye GFE, TIL, HUD and Fee Sheet.

Mortgages are complex transactions that may include risky features. Consumers currently receive different, but overlapping, federal disclosure forms with the terms and costs of mortgage loans. Because these forms are confusing for consumers, Congress directed us to create new forms. We want you to use the new forms to inform yourself as you consider different loans. 

From May of 2009 to August 2015 home loan applicants would get a 3 page GFE with a fourth page showing the list of third party vendors plus a two page TIL. Come August, you will get a 3 page Loan Estimate (LE) instead. So 2 different types of disclosures totaling 6 pages condensed into 1 disclosure containing 3 pages. 


Current: Initial TIL disclosure + Good Faith Estimate

New: Loan Estimate

Loan Estimate page 1Loan Estimate page 2Loan Estimate page 3
Before closing the loan, you would get another 2 to 4 page TIL and a 3 to 4 page HUD. Come August, you will only get 1 disclosure, Closing Disclosure totaling 5 pages. The main benefit will be that the new CD is in the same format as the first disclosure you received called the LE. So before you needed to know how to read 4 disclosures that could be as many as 14 pages and as of August you will only need to understand 1 disclosures, no more than 5 pages.


Current: Final TIL disclosure + HUD-1 Settlement Statement