<![CDATA[Dan Chapman's Mortgage Blog]]> http://www.legacyg.com/blog/rss/danc Dan Chapman's Mortgage Blog en-us danc@legacyg.com Copyright 2012 2012-05-17T12:45:16+00:00 <![CDATA[HARP 2.0 Refinance Details]]> http://www.legacyg.com/blog/harp-2.0-refinance-details http://www.legacyg.com/blog/harp-2.0-refinance-details#When:17:36:08Z Some of you may have heard by now of the new updated HARP 2.0 refinance program that Fannie mae and Freddie mac have rolled out. The Harp program is now in place and allows you to refinance your Home even if you are way upside down on your current loan to home value. For example if you have a mortgage of $300,000 and your home is only worth $200,000 this gives you a loan to value of 150% and

]]> 2012-03-30T17:36:08+00:00 <![CDATA[Bank of America to Halt Cash out Refinances]]> http://www.legacyg.com/blog/bank-of-america-to-halt-cash-out-refinances http://www.legacyg.com/blog/bank-of-america-to-halt-cash-out-refinances#When:19:38:13Z Bank of America certainly turned some heads last week when it told its retail loan officers nationwide that the lender will halt, for now, originations of cash-out refinancings, citing what it calls a "surge of refinancing activity" and capacity problems. A memo written by B of A home loans sales executive Matt Vernon notes that "while we regret the inconvenience this will cause to some of our

]]> 2012-01-27T19:38:13+00:00 <![CDATA[Market Snapshot for this week]]> http://www.legacyg.com/blog/market-snapshot-for-this-week http://www.legacyg.com/blog/market-snapshot-for-this-week#When:21:43:31Z Not a good start this morning in the bond and mortgage markets.This is employment week when most attention is directed to working the estimates all week; current thoughts are for jobs to increase 185K with non-farm private jobs +220K and unemployment unchanged at 9.0%. The forecasts likely to be moving all week; on tomorrow we get a look at what ADP estimates, presently it is expected to show

]]> 2011-05-31T21:43:31+00:00 <![CDATA[How to Improve your Credit Scores]]> http://www.legacyg.com/blog/how-to-improve-your-credit-scores http://www.legacyg.com/blog/how-to-improve-your-credit-scores#When:18:19:53Z  As you may know your credit score is an important factor in determining the overall cost to your mortgage loan. Interest rates are priced based on the middle of your 3 credit scores. The 3 major credit bureaus have an automated system that determines your credit scores based on several primary factors.

The factors are:

  • 35% is based on your payment history for all your accounts
  • 30%
]]> 2011-05-03T18:19:53+00:00 <![CDATA[New Fed Rule for Mortgage Lenders]]> http://www.legacyg.com/blog/new-fed-rule-for-mortgage-lenders http://www.legacyg.com/blog/new-fed-rule-for-mortgage-lenders#When:23:49:50Z Many of you have heard by now that come April 1st the New loan originator compensation rule that the Federal reserve has come out with takes affect. The rule can be a bit confusing if you read the legal document.

The rule basically affects the way Mortgage Lenders pay commissions to Loan Originators. The new rule will only allow either the consumer or the bank/lender to pay commissions on a

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