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Jim Marcinkowski's Blog


Today's Market Trend Update 6-22-12
Updated Oct. 9, 2013
MBS are down -6/32 (FNMA 30-yr 3.5 at 104.28), around 3/32 below morning levels, and at the low for the day. MBS drifted lower today as the stock market rallied. No economic data was released. The Dow is up 80 points. For the week, MBS fell about 6/32.. The biggest event next week may be Friday's EU Summit. In the US, New...
USDA Loans Will Have Monthly Mortgage Insurance as of October 1, 2011
Updated Oct. 9, 2013
USDA Rural Development and its loan program were designed to help improve the economy and quality of life throughout rural America. The program continues to remain a wonderful option for qualifying homebuyers, with zero down payment required.. But a change is coming!. Beginning October 1, for the first time in...
Start spreading the facts on home buying
Updated Oct. 9, 2013
Start Spreading the Facts. Buying a home has always been a big decision. But for some people today it's a difficult decision because of all the conflicting information coming from the media. To make matters worse, that information is often outdated...or even inaccurate.. If you know anyone who is thinking of...
Tips for getting your loan approved
Updated Oct. 9, 2013
What is important to lenders? . Inlanta Mortgage wants to help you understand what is important to lenders, and why. These tips will help you better manage some key aspects of your finances so that you can get your loan approved.. Not every applicant is approved for a home loan the first time he or she applies. For a...
Credit Scoring Part 1
Updated Oct. 9, 2013
Part I: Good Credit Translates into Lower Rates for the Consumer. In the 1960s, Fair Isaac Corporation started working on a system lenders could use to evaluate the likelihood of receiving repayment on loans. Prior to that, it was really a matter of trusting an individual to be a "man of his word," so to speak. Fair...
Credit Scoring part 2
Updated Oct. 9, 2013
Part II: The Five Factors of Credit Scoring. There are five factors that comprise the credit score. They are listed below in order of importance, just as an underwriter would look at the score:. oPayment History: 35% impact. Paying debt on time and in full has a positive impact. Late payments, judgments and...
Credit Scoring Part 3
Updated Oct. 9, 2013
Part III: Dealing with Challenges. Typically, a person with a low credit score is in this position because theylack structure in his or her life. There are, of course, cases whereunplanned health or employment complications are to blame, but for themost part, these are individuals who lack the discipline to pay...
Credit Score Part 4
Updated Oct. 9, 2013
Credit Remediation. If you have clients in need of credit remediation, and especially if you live in an area where this is an overall problem within the population, you should seek to align yourself with a credible referral source for credit repair. While government web sites will suggest that self-help may be...
Understanding Credit Scoring & Credit Repair
Updated Oct. 9, 2013
Seek a Qualified Mortgage Consultant to Ensure the Best Results. Understanding Credit Scoring & Credit Repair. Credit remediation is a subject consumers often face with fear and trepidation, and for good reason. With the exception of recognizing that the best score wins, the average home shopper knows...
Home Foreclosures
Updated Oct. 9, 2013
Lately, very few things have been in the news more than the topic of home foreclosures. Depending on the source, it is estimated there have been over 4 million homes entering foreclosure over the past four years and about 300,000 are entering the first stage monthly.. Recently the attention has turned from the...
It's That (Taxing) Time of Year
Updated Oct. 9, 2013
It's that time of year again. Not college basketball season, but income tax filing season. If you own a home, make sure you take the time to proactively organize your documents to maximize your tax deductions. Proper planning and organization will help minimize your taxable income.. There are many tax...
Conventional Loans Just Became More Expensive
Updated Oct. 9, 2013
Do you have less than 25% down to put on a home?. Do you need a loan-term longer than fifteen years?. Is your credit score less than exceptional?. If you answered yes to these questions, you could soon be paying more to get a mortgage.. Fannie Mae and Freddie Mac are raising risk fees that are charged to lenders for the...
Extension of the Home Affordable Refinance Program
Updated Oct. 9, 2013
On March 11, 2011, the Federal Housing Finance Agency announced two exciting changes to the Home Affordable Refinance Program (HARP). This program is for borrowers who have demonstrated an acceptable payment history on their mortgage, but due to a decline in home prices or where mortgage insurance is not...
FHA home loans just became more expensive
Updated Oct. 9, 2013
I just wanted to let you know about an important announcement from FHA that will have an impact on your clients. As of this coming April 18th, the monthly Mortgage Insurance Premiums will increase slightly for FHA loans.. This increase is not expected to have a large impact on borrowers and will only increase a...
FNMA Homepath Incentive
Updated Oct. 9, 2013
There's great news from Fannie Mae: Buyers may be eligible to receive up to 3.5% in closing cost assistance through June 30, 2011 as part of the HomePath buyer incentive. To be eligible for this incentive, the following qualifications must be met: 1.Buyers and/or selling agents must request the incentive...
Window of Opportunity has Opened
Updated Oct. 9, 2013
I wanted to reach out to you before it's too late. You may have heard that home loan rates improved, reaching some of the best levels so far in 2011.. In fact, I've been slammed with emails and phone calls from people just like you who wanted to take advantage of this wonderful situation. But there's one...
Why are conventional mortgages expensive
Updated Oct. 9, 2013
Fannie Mae's new "Loan Quality Initiative" went into effect on June 1, 2010...which means that loans may be at risk for some buyers. Here's what you need to know - and what you need to do - to keep your deals from blowing up right before closing.. Undisclosed debt is a leading cause of mortgage fraud and early...
FHA Streamlined 203k Mortgage
Updated Oct. 9, 2013
I wanted to make sure you knew about a wonderful loan program that lets homebuyers finance up to an additional $35,000 into their mortgage to improve or upgrade their home before move-in. FHA's Streamlined 203(k) Loan Program helps homebuyers tap into cash to pay for property repairs or improvements,...
Mortgages and the Deficit Negotiations
Updated Oct. 9, 2013
The Impact of a Government Shutdown on MortgagesIn the wake of news stories that the US will face a government shutdown and default on its outstanding loans if a debt ceiling agreement isn't reached, you may be wondering what the impact would be to the mortgage industry and closings.. The last time we went...
What is an USDA Home Mortgage?
Updated Oct. 9, 2013
USDA Loan ProgramUSDA Rural Development and its loan program have been improving the economy and quality of life throughout rural America for many years. The program has made the dream of homeownership possible for tens of thousands of people throughout the United States.. Just some of the great features of USDA...

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