Say Good Bye HARP and Hello RRP, The Feds Are Preparing For A Possible Drop In Home Values

Fannie and Freddie’s HARP program is going away December 31^st 2018, however there’s good news. Fannie and Freddie are rolling out a replacement for the program, starting November 1^st called the Relief Refinance Program.

Fannie and Freddie’s HARP program is going away December 31st 2018, however there’s good news. Fannie and Freddie are rolling out a replacement for the program, starting November 1st called the Relief Refinance Program.

So It’s very important you understand these five minimum requirements when looking at this product:

1. It needs to be a Fannie to Fannie or Freddie to Freddie refinance
2. The previous loan cannot be a previous HARP refinance
3. The loan had to of closed on or AFTER OCT 1 2017
4. The loan must have 15 months seasoning before we close the loan
5. There has to a borrower benefit, meaning we can go from an ARM to a FIXED, or lowering the rate, or shortening the term

There are some other details and qualifying aspects to this, call me at 855-955-SOEZ option 1 to find out more.

There are many advantages to this program
1. No LTV cap for fixed products, you can go over 200% loan to value
2. 105% LTV cap for ARM products
3. PMI transfer, so if you’re not paying PMI now, you wont be paying MI inf the future
4. Minimal document requirements, the list goes on

We understand come Nov 1, we are not going to see a lot of applications for this loan. This is more preparing for if god forbid, values decrease in the future.

Be a pro, remember this product, call me if you have questions, and if you or your friends could ever use it, our address is so easy to remember it’s www.SoEZ.tv

Join Our "Leveraging Your Equity Through Refinance" Webinar

On Thursday, October 25, get a firsthand look at the refinance process, gain insight on interest rates, popular mortgage options and how to utilize your equity. All webinar registrants also qualify for $1,420* in mortgage savings!

Summary

This refinance webinar will help you better understand the mortgage process so you know what to expect every step of the way. Whether you're ready to refinance your home right now or just looking to gain insight into a refinance, you’ll get useful tips to make the process as smooth as possible.

Topics include:

• Explore the various ways you can leverage the equity in your home
• Whether or not now is the right time for you to refinance
• Mortgage advice from the expert
• Knowing your market and what mortgage products are right for you
• How to save money when you use Quicken Loans and their Family of Companies

Speaker

Michael Hansen
Web Mortgage Banker
So EZ Mortgage

President’s Club So EZ Banker. I have funded over 800 loans since 2009. When I am not at work you can find me spending time with my wife Danielle and our two beautiful children, Kaylin and Joseph. We enjoy traveling and visiting family all across California and Arizona. We are also big superhero fans. We love to attend Ace Comic Conventions and root on our favorite heroes.

INFOGRAPHIC: Identify and Eliminate Vampire Appliances

As you know, I, Michael Hansen, write all my own post, but every once and a while. I copy and paste, the original post link is at the bottom. 

Slay vampire appliances that are draining energy in your home.

• October 28, 2016

Some of your electronic devices at home drain energy even when they are turned off, but still plugged into an outlet. The average U.S. home spends about $100 per year to power devices while they are off or in standby mode. Here are some tips to help you identify and eliminate the energy-sucking appliances in your home.

Interesting facts about vampire appliances:

• The average home has about 40 vampire energy electronics. 
• Standby power can account for about 20 percent on your energy bill. 
• Powering devices while they are off or in standby mode can cost you about $100 per year. 

Vampire Appliances in your home:

• Televisions 
• Cable or satellite boxes 
• Game consoles
• DVD, DVR or VCR players 
• Computers
• Devices that turn on automatically with a remote control 
• Chargers (such as your cell phone or camera chargers)
• Printers
• Standby coffee makers
• Electronics with a standby light or clock 

Tips to help you eliminate vampire appliances:

• Unplug your devices - If you have an extra TV or desktop computer you don’t use often, unplug it until you need to use them. 
• Use a power strip - Power strips allow the convenience of powering devices on and off so that they’re not consuming power when you’re not around. 
• Smart Upgrades - ENERGY STAR appliances have a lower standby consumption and use less energy than a general appliance. 
  
• https://www.insideedison.com/stories/infographic-identify-and-eliminate-vampire-appliances

Mortgage Lending Disclosures Change Yet Again

TRID 2.0 is effective today and we've been doing the heavy lifting so you can keep on originating loans and serving clients without worrying about compliance.

Below are couple things on the CD have changed that you need to be aware of:

1. Only the deed and mortgage recording fees will be itemized, any other recording fees (currently itemized in section E) will be included in the total loan costs
2. Seller Paid fees are separated out into the Seller Paid column (as opposed to the Paid by Others column) according to the Purchase Agreement
3. Include seller only fees like realtor commission, seller attorney or home warranty in section H in the seller column

To recap, no changes needed on your end, our technology has you covered! Please make sure to confer with your own legal counsel on anything outside of processing loans in the partner portal.