Podcasts about llpa

Welcome to The Chrisman Commentary, your go-to daily mortgage news podcast, where industry insights meet expert analysis. Hosted by Robbie Chrisman, this podcast delivers the latest updates on mortgage rates, capital markets, and the forces shaping the housing finance landscape. Whether you're a seasoned professional or just looking to stay informed, you'll get clear, concise breakdowns of market trends and economic shifts that impact the mortgage world.In today's episode, we go through the art of the deal. Plus, Robbie sits down with Jake Perkins to discuss the new Chrisman Marketplace and how it is adding value to the industry. And the first Friday of the month means that it's payrolls data day.Today's episode is sponsored by CreditXpert—the credit optimization platform that helps today's top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums and close more loans. Download your free copy of the credit optimization playbook today at creditxpert.com/chrisman. 

Welcome to The Chrisman Commentary, your go-to daily mortgage news podcast, where industry insights meet expert analysis. Hosted by Robbie Chrisman, this podcast delivers the latest updates on mortgage rates, capital markets, and the forces shaping the housing finance landscape. Whether you're a seasoned professional or just looking to stay informed, you'll get clear, concise breakdowns of market trends and economic shifts that impact the mortgage world.In today's episode, we go through some surprising insurance trends. Plus, Robbie sits down with Rob Chrisman to discuss how the mixed messages from the Trump administration about the future of the GSEs are impacting those in the mortgage industry. And we close with a look at the latest predictions about the demise of the economy.Today's episode is sponsored by CreditXpert—the credit optimization platform that helps today's top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums and close more loans. Download your free copy of the credit optimization playbook today at creditxpert.com/chrisman. 

Welcome to The Chrisman Commentary, your go-to daily mortgage news podcast, where industry insights meet expert analysis. Hosted by Robbie Chrisman, this podcast delivers the latest updates on mortgage rates, capital markets, and the forces shaping the housing finance landscape. Whether you're a seasoned professional or just looking to stay informed, you'll get clear, concise breakdowns of market trends and economic shifts that impact the mortgage world.In today's episode, we go through some surprising housing inventory statistics. Plus, Robbie sits down with Partners Credit's Tracey King for a chat about the evolving conversation around credit costs, what lenders should understand about FICO's role, and how early credit data signals provide a valuable lens into future market activity. And we close with a look at the latest from President Trump's trade war.Today's episode is sponsored by CreditXpert—the credit optimization platform that helps today's top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums and close more loans. Download your free copy of the credit optimization playbook today at creditxpert.com/chrisman. 

Welcome to The Chrisman Commentary, your go-to daily mortgage news podcast, where industry insights meet expert analysis. Hosted by Robbie Chrisman, this podcast delivers the latest updates on mortgage rates, capital markets, and the forces shaping the housing finance landscape. Whether you're a seasoned professional or just looking to stay informed, you'll get clear, concise breakdowns of market trends and economic shifts that impact the mortgage world.In today's episode, we determine just how many conferences is too many for the industry. Plus, Robbie sits down with Cotality's Molly Boesel to discuss what isdriving the recent rise in single-family rents, why high-end rentals are outpacing lower-end growth, and how local events, new supply, and regional dynamics are shaping rent trends across U.S. cities. And we close with a look at the latest from President Trump's trade war.Today's episode is sponsored by CreditXpert—the credit optimization platform that helps today's top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums and close more loans. Download your free copy of the credit optimization playbook today at creditxpert.com/chrisman. 

Welcome to The Chrisman Commentary, your go-to daily mortgage news podcast, where industry insights meet expert analysis. Hosted by Robbie Chrisman, this podcast delivers the latest updates on mortgage rates, capital markets, and the forces shaping the housing finance landscape. Whether you're a seasoned professional or just looking to stay informed, you'll get clear, concise breakdowns of market trends and economic shifts that impact the mortgage world.In today's episode, we look at potential impacts on mortgage rates from the privatization of Fannie Mae and Freddie Mac. Plus, Robbie sits down with CHLA's Scott Olson to discuss the rising costs of credit scores, the monopoly power of FICO, and how increased competition, from VantageScore to new credit scoring models, could reshape the mortgage lending landscape. And we close with some predictions about what this week's economic calendar will bring.Today's episode is sponsored by CreditXpert—the credit optimization platform that helps today's top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums and close more loans. Download your free copy of the credit optimization playbook today at creditxpert.com/chrisman. 

Keith discusses the mortgage landscape, emphasizing the benefits of cash-out refinances with Ridge Lending Group President, Caeli Ridge. They unpack the Trump administration's plan to privatize Fannie Mae and Freddie Mac, which could impact the mortgage market. Investors are discovering powerful strategies to leverage property equity and optimize their financial portfolios. By understanding innovative borrowing techniques, savvy real estate investors can access tax-efficient capital and create sustainable wealth-building opportunities. Consider working with a lender that specializes in investor-focused loan products and provides comprehensive education on the options available.  Resources: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Show Notes: GetRichEducation.com/554 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  You get paid first: Text FAMILY to 66866 Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai    Keith Weinhold  0:01   Welcome to GRE. I'm your host. Keith Weinhold, we're talking about the mortgage loan landscape in this era. Is title insurance a rip off today? Is it worth it for you to pay discount points at the closing table to get a lower interest rate? Learn about how a cash out refinance. Is your ability to borrow tax free, much like a billionaire does, and what are the dramatic changes that the current administration could take to alter the mortgage environment for years, all today on get rich education.    Speaker 1  0:34   Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, who delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show guests include top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast or visit get rich education.com   Corey Coates  1:20   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:36   Welcome to GRE from Liverpool, England to Livermore, California and across 188 nations worldwide. I'm Keith Weinhold, and you are listening to get rich education, the voice of real estate. Since 2014 it's been estimated that there are about 800 billionaires in USA, and hey, you might be one of them, but there's a pretty good chance that you aren't well. When it comes to lending and mortgages, you can actually take a page out of a billionaires playbook and do something very much like what they do whenever you perform a cash out refinance if you've got dead equity in a property, and you can borrow against your own home to a greater extent than you can against your rental properties, even either one of those is a tax free event, you've now got tax free cash, and you can use that money on anything from investing it in the stock market To using your proceeds for a down payment on more real estate or buying a boat or going to Disneyland, and you didn't have to relinquish your asset at all. You continue to hold on to the asset. Now, the mechanics are somewhat different, sure, but when you do a cash out refinance like this, it's a bit like billionaires borrowing against their stock. Instead, you're borrowing against the value of your real estate. In fact, listening to this short clip, it's Trevor Noah talking about how billionaires do exactly this, and you'll notice that the crowd laughs because it actually sounds funny that you can really do this,    Speaker 2  3:22   the shares that they hold in a company, because it is an unrealized gain, right? So they go like, yeah, you're worth 300 billion, but we can't tax you on those stocks because you haven't sold the shares, so you don't, like, have the money. And I understand the argument. They go like, No, you don't have it. It's just what it's worth, because it will also crash, and then you have nothing, so we can't tax you on it. Then I'm like, Okay, I understand that. Then Elon Musk offers to buy Twitter, all right? He offers to buy it. And then he says in his offer, he goes, I'm putting up my Tesla stock as collateral. Then I'm like, so you do have it? Then he's like, no, no, no, no, I don't have it. I don't have it. I'm just gonna say so then they accept the offer. He now buys Twitter. Now that they've accepted his offer, he now goes to private equity and banks and like other rich people and whatever. He goes like, can you guys borrow me the money to buy Twitter? And then he's like, I'm I want to buy Twitter because I don't want to sell any of my Tesla shares, so I want to use your money to buy Twitter. And then it's like, but then they're like, What are we loaning it against? And he's like, Well, my Tesla shares. Then I'm going, like, Wait, so, so you, you can, you can buy a thing based on what you have, yes, but when we want to tax you, you can say, I don't have it. Do you hear what I'm saying here?   Keith Weinhold  4:46   Yeah, you can borrow against your real estate if you have substantial equity in it. We'll talk about just how much now billionaires borrow against their stock holdings using financial products like portfolio lines of credit or. For securities based loans. These are the names for how they do it, essentially taking out loans and using their stock as collateral. And this allows them to access cash without selling their assets and without incurring capital gains taxes, much like you can so you can say that you don't want to sell your property in you don't have to go through some capital raising round either, like a billionaire might have to when they're borrowing against their stock. You can just have a more standard mortgage application for your cash out refinance, and you don't even have to have a huge portfolio. I mean, even if you just own one 500k property with 50% equity in it, you can do this so it's available to most any credit worthy person, again, tax free. But of course, this doesn't mean that you always should take this windfall, because it often creates a higher monthly payment. You've got to be the one that makes that decision in controlling your cash flows, that is key. I'll talk about that some more with today's terrific guests. Also the Trump administration's desire to privatize Fannie Mae and Freddie Mac we're going to talk about that and what that would do to the mortgage landscape. I am in the USA today, next week, I'll be bringing you the show from London, England for the first time, the following week, from Edinburgh, Scotland. Yes, the mobile GRE Studio will be in effect. I typically set it up myself, and I usually don't need the help of the hotel staff for an appropriate Sound Studio either. And then shortly after that, I will be in Anchorage, Alaska, where I'm competing in these fantastic mountain running races. And then by next month, that's where I hope to meet up with you in person for nine days of learning and fun, as I'll be in Miami as part of the faculty for the terrific real estate guys invest or summon at sea, where we're all going to disembark from Miami and go to St Thomas, St Martin and the Bahamas, and then after that great event, it is a long flight from Miami back to Anchorage again. And that's got to be one of the longer domestic flights, not just in the nation, but in the world, Miami to Anchorage, and then shortly after that, I will be in the Great Northeast early this summer, New York and Pennsylvania, including for my high school reunion. So I'll really be putting the miles on these next couple months. One interesting thing that I've noticed for next week's show, where I'll be joining you from London, is how much I'm paying per night at both my hotel in England and then later my hotel in Scotland. That's obviously a short term real estate transaction. These are some of the more expensive places in the world, really. So next week and then the week after, I just think you'll find it interesting. I'll tell you how much I'm spending per night in both London and then Edinburgh. And they're both prime locations, where the hotels are the center of London and then right on Edinburgh's Royal Mile. That is in future weeks as for today, let's talk about the mortgage landscape with this week's familiar and terrific guest.   I'd like to welcome in one of the more recurrent guests in our history, so she needs little introduction. She's the longtime president of the mortgage company that's created more financial freedom for real estate investors than any lender in the nation because they specialize in income property loans. It's where I get my own loans for my own rental properties. Ridge lending group. Hey, welcome back to GRE Caeli ridge.    Caeli Ridge  8:57   Thank you, Keith. You know I love being here with you and your listeners. I appreciate you having me.   Keith Weinhold  9:01   You've helped us for so long. For example, who can forget way back in episode 56 Yeah, that's a deep scroll back when Chaley broke down each line of a good faith estimate for us, that's basically a closing statement sheet. She told us exactly what we pay for at the closing table, line by line like origination fee, recording costs and title insurance so helpful. It's just the sort of transparency that you get over there. Buyers pay for title insurance at the closing table. It is title insurance a rip off. A few years ago, a lot of people speculated that title insurance would fade away because the property's ownership could be transparent and accessible to everybody on the blockchain, but we don't really see that happening. So tell us about title insurance, and really, are we getting value in what we pay for there at the closing table?   Caeli Ridge  9:54   Well, I think the first thing I would say is that it really isn't going to be an option as far as I. Know, as long as the individual is going to source institutional funding leverage use of other people's money, they're going to require the lender, aka Ridge lending, or whoever you're working with, they're going to require that title insurance that ensures their first lien position. Doing that title search, first and foremost, is going to make it clear that there isn't some cloud on title, that there isn't some mechanic lien that had been sitting out there for however many years it may have just been around. And those types of things never go away. So for a lending perspective, it's going to be real important that that title insurance is paid for and in place to protect their interests, things like judgments, tax liens, like I said, a mechanic's lien, those will automatically take a first lien position in front of a mortgage. So obviously we're not going to risk that and find ourselves in second lien position in the event of default and somebody else is getting paid before we are. So not really an option. Is it a rip off? I don't know enough about how often it's paid out, and not to speak to that, but I will tell you that it isn't a choice.   Keith Weinhold  11:07   Title Insurance, like Shaylee was talking about. It protects against fraud related to the property's ownership, someone else claiming rights to the property, and this title search that an insurer does it also, yeah, it looks for those liens and encumbrances, including unpaid taxes, maybe unpaid HOA dues, but yeah, mortgage lenders typically require title insurance, and if you the borrower, you might think that's annoying. Well, it does make sense, because the bank needs to protect their collateral. If a bank ever has to foreclose, they need to have access to you, the borrower, to be able to do that without any liens or ownership claims from somebody else. Caeli, how often do title insurance companies mess up or have to pay out a claim? Does that ever happen?   Caeli Ridge  11:50   I mean, if I have been involved in a circumstances where that was the case, it's been so many years ago, they're pretty fastidious. I don't know that I could recall a circumstance where something had happened and the title insurance was liable. They go through the paces, man, they've got to make sure that, and they're doing deep dives and searches across nationwide to make sure that there isn't any unnecessary issue that's been placed on title Not that I'm aware of. No.    Keith Weinhold  11:50   Are there any of those other items that we tend to see on a good faith estimate that have had any interesting trends or changes to them in the past few years?    Caeli Ridge  12:27   Yeah, I've got a good one, and this is actually timely credit reports. So over the last couple of years, something has been happening with credit reports where, you know, maybe three, four years ago, a credit report, let's say a joint credit report, a husband and wife went and applied that credit report might cost 25 bucks. Well, now it's in excess of 100 plus. Some of what we're going to be talking about today, it kind of gets into the wish list of Jim neighbors, who is the president of the mortgage brokers Association. He's been talking to the administration about some of his wishes, and credit report fees is actually one of the things that they're wanting to attack and bringing those costs down for the consumer. So when we look at a standard Closing Disclosure today, credit report costs have increased significantly. I don't have the percentages, but by a large margin over the last couple of years,    Keith Weinhold  13:21   typically not one of your bigger costs, but a little noteworthy. There one thing that people might opt and choose to have on their good faith estimates, so that borrower therefore would actually pay more out of pocket with today's higher mortgage rates. And I'm sure not to say high, because historically, they are not high. Do we see more people opting to pay discount points at the closing table to get a lower rate and talk to us about the trade offs there   Caeli Ridge  13:46   right now, first and foremost, that there isn't a lot of option for investment property transactions, whether it be a purchase or refinance. There's not going to be that option where the consumer gets to choose to say, Okay, I want to pay points for a lower rate or not pay points for a higher rate the not paying points is the key here. There isn't going to be a zero point option for investment property transactions. And this gets a little bit convoluted, and then I'll circle back and answer the question of, when does it make sense to pay the points, more points versus less points? We have been in a higher rate environment that I think a lot of people have become accustomed to as a result secondary markets, where mortgage backed securities are bought and sold, they keep very close tabs on the trends and where they think things are headed. Well, something called YSP, that stands for yield, spread, premium, under normal market circumstances, a consumer can say, okay, Caeli, I don't want to pay any points. Okay, I'll take this higher interest rate, and I don't want to pay any points, because that higher interest rate is going to have YSP, yield, spread, premium to pay compensation to a lender, and you know, the other third parties that may be involved in that mortgage backed security. But. Sold and traded, etc, okay? They have that choice under normal market circumstances. Not the case right now, because when this loan sells the servicing rights, whoever is going to pick up the servicing rights, so when Mr. Jones goes to make his mortgage payment, he's going to cut a check to Mr. Cooper. That's a big one, right? Or Rocket Mortgage, or Wells Fargo, whoever the servicer is, the servicing rights are purchased at a cost. They have to pay for the servicing rights, and let's say that's 1% of this bundle of mortgage backed securities that they're purchasing. Well, they know the math is, is that that servicer is going to take about 36 months before that upfront cost is now in the black or profitable. This all will land together. Everybody, I promise you stick with me, so knowing that we've got about a 36 month window before a servicer that picked up the rights to service this mortgage is going to be profitable in a higher rate environment, as interest rates start coming down, what happens to the mortgage that they paid for the rights to service 12 months ago, 18 months ago, that thing is probably going to refinance right prior to the 36 month anniversary of profitability. So that YSP seesaw there is not going to be available for especially a non owner occupied transaction. So said another way, zero point rates are not going to be valid on a non owner occupied transaction in a higher rate environment when secondary markets understand that the loans that are secured today will very likely be refinanced prior to profitability on the servicing side of that mortgage backed security that is a risk to the lender, yes. So we know that right now you're not going to find a zero point option. Now that may be kind of a blanket statement. If you were getting a 30% loan to value owner occupied mortgage with 800 credit scores, you know that's going to be a different animal. And of course, you're going to have the option to not pay points. The risk for that is nothing. Okay, y SP is going to be available for you, the consumer, to be able to choose points at a lower rate, no points higher rate. When does it make sense to pay additional points? Let's say to reduce an interest rate, the break even math. And you know, I'm always talking about the math, the break even math is actually the formula is very simple. All you need to do is figure out the cost of the points. Dollar amount of the points, let's say it's $1,000 and that's what it's going to cost you to, say, get an eighth or a quarter or whatever the denomination is, in the interest rate reduction. But you aren't worried about the interest rate necessarily. You're looking at the monthly payment difference. So it's going to cost you $1,000 in extra points, but it's only going to save you $30 a month in payment when you divide those two numbers, what's that going to take you 33 months? 30 well, okay, and does that make sense? Am I going to refinance in 33 months? If the answer is no, then sure pay the extra 1000 bucks. But that's the math, the cost versus the monthly payment difference divide that that gives you the number of months it takes to recapture cost versus cash flow or savings, and then you be the determining factor on when that makes sense.    Keith Weinhold  18:10   It's pretty simple math. Of course, you can also factor in some inflation over time, and if you would invest that $1,000 in a different vehicle, what pace would that grow at as well? So we've been talking about the pros and cons of buying down your mortgage rate with discount points before we get into the administration changes. Cheley talk about that math in is it worth it to refinance or not? It's a difficult decision for some people to refinance today with higher mortgage rates than we had just a few years ago, and at the same time, we've got a lot of dead equity that's locked up.   Caeli Ridge  18:40   I would start first by saying, Are we looking to harvest equity? Are we pulling cash out, or are we simply doing a rate and term refinance where we're replacing one loan with another loan, if it's for rate and term, if we're simply replacing the loan that we have today with a new loan, that math is going to be pretty simple. Why would you replace 6% interest rate with a 7% interest rate? If all other things were equal, you wouldn't unless there was a balloon feature, or maybe an adjustable rate mortgage or something of that nature involved there that you have to make the refinance. So taking that aside, focusing on a cash out refinance, and when does it make sense? So there's a little extra layered math here. The cash that you're harvesting, the equity that you're harvesting, first of all, borrowed funds are non taxable. What are we going to do with that pile of cash? Are we going to redeploy it for investing more often than not talking to investors? The answer is yes. What is that return going to look like? So you've got to factor that in as well, and then we'll get to the tax benefit in a moment. But generally speaking, I like to as long as the cash flow is still there, okay, you've got to have someone else covering that payment. Normally, there's exceptions to every rule. I don't normally advise going negative on a cash out refi. There are exceptions. Okay, please hear me. But otherwise, as long as the existing rents are covering and that thing is still being paid for by somebody else, then what you want to do is look at that monthly payment. Difference again, versus what you're getting out of it. And then you divide those two numbers pretty simply, and it'll take you how long. And then you've got a layer in the cash flow that you're going to get from the new acquisitions, and whether that be real estate or some other type of investment, whatever the return is, you're going to be using that to offset. And then finally, I would say, make sure that you're doing adding in the tax benefit. These are rental properties guys, right? So closing costs can be deducted now that may end up hurting debt to income ratio down the road. So don't forget, Ridge lending is going to be looking at your draft tax returns. Very, very important to ensure that we're setting you up for success and optimizing things like debt to income ratio on an annual basis.   Keith Weinhold  20:40   Now, some investors, or even primary residence owners might look at their first and only mortgage on a property, see that it's 4% and really not want to touch that. What is the environment and the appetite like today for having a refinance in the form of a second mortgage? That way you can keep your first mortgage in place and, say, 4% get a second mortgage at 7% or more. How does that look for both owner occupied and non owner occupied properties today?   Caeli Ridge  21:07   you're going to be looking at prime, plus, in many cases, if you don't want to mess with a first lien, a second lien mortgage is typically going to be tied to an index called prime. Those of you that are familiar with this have probably heard of that. Indicee. There's lots of them. The fed fund rate, by the way, is an index. There's lots of them. The Treasury is also another index. Prime is sitting, I think, at seven and a half percent. So you're probably going to be looking at rate wise, depending on occupancy and credit score and all of those llpas that we always talk about, loan level, price adjustment. You know, it could be prime plus zero, it could be prime plus four. So interest rates could range between, say, seven and a half, on average, up to 11 even 12% depending on those other variables. More often than not, those are going to be interest only. So make sure that you're doing that simple math there. And I would prefer if I'm giving advice the second liens, the he loan, which is closed ended, very much like your first mortgage, it's just in second lien position. It's amortized over a certain period of time, closed ended. Not as big a fan of that. If you can find the second liens, especially for non owner occupied, I would encourage it to be that open ended HELOC type.    Keith Weinhold  22:15   What are we looking at for combined loan to value ratios with second mortgages    Caeli Ridge  22:19   on an owner occupied I think you'd be happy to get 90. I think I've heard that in some cases, they can go up to 95% in my opinion, that would go as high as they'll let you go right on a non owner occupied, I think you'd be real lucky to find 80, and probably closer to 70.    Keith Weinhold  22:34   That really helps a lot with our planning. Well, the administration that came in this year has made some changes that can create some upheaval, some things to pay attention to in the mortgage market. We're going to talk about that when we come back. You're listening to get rich education. Our guest is Ridge lending Group President, Caeli Ridge I'm your host, Keith Weinhold.    The same place where I get my own mortgage loans is where you can get yours. Ridge lending group  NMLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your prequel and even chat with President Chaeli Ridge personally while it's on your mind, start at Ridge lendinggroup.com. That's Ridge lendinggroup.com.    You know what's crazy? Your bank is getting rich off of you. The average savings account pays less than 1% it's like laughable. Meanwhile, if your money isn't making at least 4% you're losing to inflation. That's why I started putting my own money into the FFI liquidity fund. It's super simple. Your cash can pull in up to 8% returns, and it compounds. It's not some high risk gamble like digital or AI stock trading. It's pretty low risk because they've got a 10 plus year track record of paying investors on time in full every time. I mean, I wouldn't be talking about it if I wasn't invested myself. You can invest as little as 25k and you keep earning until you decide you want your money back. No weird lockups or anything like that. So if you're like me and tired of your liquid funds just sitting there doing nothing. Check it out. Text family to 66866, to learn about freedom. Family investments, liquidity fund again. Text family to 66866   Hal Elrod  24:38   this is Hal Elrod, author of The Miracle Morning and listen to get rich education with Keith Weinhold, and don't put your Daydream.   Keith Weinhold  24:55   Welcome back to get rich education. We're talking about mortgages again, because this is one. Where leverage comes from. I'm your host. Keith Weinhold, we're sitting down with the president of ridge lending group, Caeli Ridge, and I know that she has some knowledge and some updates on new administration leadership and some potential changes for the market there. What can you tell us? Caeli   Caeli Ridge  25:16   I'm pretty excited about this one, and I'm watching very diligently to see how it unfolds. So the new director of the FHFA Federal Housing Finance Agency, all is Bill Pulte. This is the grandson of Pulte Homes. Okay, smart guy. I'm excited to see what he's going to come in and do. Well. He had recently, I think in the last couple of weeks, he put out in the news wires asking for feedback from the powers that be, related to Fannie and Freddie, what improvements they would like to see. So first up was Jim neighbors. He is the president of the mortgage brokers Association. He had a few very specific wish list items, if you will. And the first one on his list was the elimination of LLP, as for non owner occupied and second home. So let me just kind of paint a picture here, because there's some backstory I think is important. So an LLPA, for those of you that have never heard that term before, stands for a loan level price adjustment. And a loan level price adjustment is a positive number or a negative number that associates with the individual loan characteristics. So things like loan to value or loan size, occupancy is a big ll PA, the difference between an owner occupied where you live and one that you're going to use as a rental property, that's a big one. Credit score, property type, is it a single family? Is it a two to four? Is this a purchase? Is it a refi? Anyway, all of those different characteristics are ll pas. Well, if we take a step back in time, gosh, about three years ago now, Mark Calabria, at the time, was the director of the FHFA, and he had imposed increases, specific increases. This was middle of 22 I want to say specific increases to the LL pas for non owner occupied property. So if anybody kind of remembers that time, we started to really see points and interest rates take that jump sometime in 2022 more than just the traditional interest rate market and the fluctuations. This was very material to investment property and second home, but we'll focus on the investment property. So Mr. Jim neighbors came in and said, first and foremost, I'd like to see those removed, and I want to read something to the listeners here, because I thought it was very interesting. This is something I've been kind of preaching from the the rooftops, if you will, for many, many years. Yeah, we've got neighbors sticking up for investors here. He really is. And I Yeah, well, yes, he is. And more often than not, they're focused on the owner occupied so I'm just going to kind of read. I've got my cheat sheet here. I want to make sure I get it all right for everybody. So removal of the loan level price adjustments on investment properties and second homes, he noted that these risk based fees charged by Fannie and Freddie discourage responsible buyers from purchasing second homes and investment properties, with that insignificant increase to cost. And here's the important part, originally introduced to account for additional credit risk, many of the pandemic era llpa increases were not based on updated risk metric. In fact, data has shown that loans secured by investment properties often have strong credit profiles and lower than expected default rates. I mean, anybody that has been around long enough to see what we've come from, like, 08,09, and when we had the calamity of right, the barrier for entry for us to get any conventional financing as investors has been harsh. I mean, I make that stupid joke of vials of blend DNA samples. But aside from it being an icebreaker, it kind of feels true. We really get the short end of the stick. And I feel like as investors especially, post 08,09, our credit profiles, our qualifications, the bar is so high for us, the default risk there has largely been removed. We've got so much skin in the game. With 20 25% down, credit score is much higher, debt to income ratios more scrutinized, etc, etc. So I think that this is, if it passes muster. I think this is going to be a real big win for the non owner occupied side of agency, Fannie, Mae, Freddie, Mac lending.   Keith Weinhold  29:13    The conventional wisdom is, is that if you the borrower, get into financial trouble, you're more likely to walk away from your rental properties than you are your own home and neighbors, sort of like a good neighbor here sticking up for us and stating that, hey, us, the investors, we're actually highly credit worthy people.   Caeli Ridge  29:29   Yeah, absolutely. So fingers crossed. Everybody say your prayers to the llpa and mortgage investor rates gods.   Keith Weinhold  29:37   we'll be attentive to that. What other sorts of changes do we have with the administration? For example, I know that Trump and some others in the administration have talked about privatizing the GSEs, those government sponsored enterprises, Fannie, Mae, Freddie Mac and what kind of disruption that would create for the industry. Is it really any credence to that?   Caeli Ridge  29:58   They've been talking about it for. For quite a while. I mean, as long as Trump has been kind of on the scene, that's been maybe a wish list for him. I don't see that happening over the next years. That is an absolute behemoth to unpack and make a reality. Speaking of Mark Calabria, he was really hot and heavy on the trails of doing that. So what this is, you guys so fatty Freddy, are in conservatorship that happened back post 08,09, and privatizing them and making them where it is not funded, or conservatorship within the United States government. Now it still has those guarantees against default. It's a very complicated, complex, nuanced dynamic of mortgage backed securities, but if we were to privatize them at some point now, am I saying that that's a bad thing? No, not necessarily, but I think it has to be very carefully executed, and because there are so many moving parts, I do not think that just one term of presidency is going to make that happen. If we do it, it's going to be years down the road from now. Is my crystal ball. I don't think we're going to see that anytime soon.    Keith Weinhold  30:58   That's interesting to know. Are there any other industry changes that are important, especially for investors, whether that has to do with the change in administration or anything else?   Caeli Ridge  31:08    Well, specific to that wish list from Mr. Neighbors, one of the other things that he had asked, and there were quite a few, for owner occupied changes as well, he wants to reduce the seasoning for cash out refinances of investment properties, which would be huge good. Yeah, right now it's 12 months on a cash out refinance given very specific acquisition details. Okay, I won't go down that rabbit hole, but currently, if you haven't met exactly these certain benchmarks, you may have to wait 12 months to pull cash out of a property from the day that you acquire it, he's asking that that be pulled back to about six months, which would be nice   Keith Weinhold  31:46   reducing the seasoning period from 12 months to six months, meaning that an investor a borrower, would only need to own that property for that shorter duration of time prior to performing a refinance.   Caeli Ridge  31:58    Cash out refinance, no seasoning required on a rate and term. This is specific for cash out. But again, for cash out, but exactly right   Keith Weinhold  32:04   now, one trend that I think about sometimes, especially when I think back to 2008 2009 days since I was an investor through that time, is, are there any signs in the reduction of the appetite or the propensity to lend, to make loans. So how freely is credit flowing?    Caeli Ridge  32:25   I think pretty freely. I'm not seeing that they're tightening the purse strings. That's not the lens that I'm looking at it from, and I try to keep that brush stroke broad. There have been, I think that on the post, close side, there's been a little extra from Fannie Freddie, and I think that has to do with profitability markers. But overall, I'm not seeing that products are disappearing necessarily, or that guidelines are really becoming even more cumbersome. If anything, I would say it's maybe the reverse of that, and I do believe that probably is part and parcel to this administration and the real estate background that comes with it.   Keith Weinhold  32:59   One other thing I pay attention to, but it just really hasn't been much of a story lately. Are delinquencies in foreclosures. It seems like they've ticked up a little bit, but they're still both really historically low and basically a delinquency being defined as when a borrower makes one late payment, and foreclosures being the more severe thing, typically a 120 days late or more. Any trends there? I'm not   Caeli Ridge  33:24   seeing any now. And in fact, I would tell you that, because we focus so much on investor needs, first payment default is I can count on less than one hand, if I had to, how many times I've seen that happen with our clients over 25 years. So nothing noteworthy there for me.    Keith Weinhold  33:40   Yes. I mean, today's borrowers are just flush with equity. Nationally, there's a loan to value ratio of 47% which is healthy, in a sense. On average, borrowers have a 53% equity position. Of course, the next thing, I think, is like, I don't really know if that's a smart strategy. They're not really getting that much leverage out there. But I think a lot of people just have the old mentality of get it paid off.    Caeli Ridge  34:06   And I think that depending on where you are in your journey, I mean, if you're in phase three, right, where you're just really looking at these investments, these nest eggs to carry you into your retirement and or for legacy reasons, fine, but otherwise, I may argue the point in that I don't care that you have a 3% interest rate on an investment property, or whatever it may be, if it's sitting there idle and as long as it can cash flow, the true chances of those individuals of keeping that mortgage that they got in 2020, 2021, etc, at those ridiculously low interest rates and stroking 360 payments later to pay it to zero is a fraction of a percent right now, whether they're on the sidelines for something else, I don't know, but that debt, equity, I think, is hurting them more than a 3% interest rate is helping them.   Keith Weinhold  34:52    And a lot of times, the mindset of someone is, if they don't need to build wealth anymore, and they're older and they already built wealth, they don't care if they're loaned to value. Was down to zero, and they have it paid off, whereas someone that's in the wealth building phase probably wants to get more leverage. Yeah, Chaley at risk lending group, there you see so many applications come in, and especially since you're an investor centric lender, I like to ask you what trends you're seeing. What are people buying? What are people doing? Are they refinancing? Are they paying loans off? Are they trying to take out more credit? Are there any overall trends with investors that you see in there    Caeli Ridge  35:29   right now? I think the all in one is a clear winner there. The all in one, that first lien, HELOC, that you and I talked about, we broke my little corner of the internet with that one, that one is a front runner for sure, on the refinance side, specifically, we are seeing quite a bit more on the refi side of things, that equity is kind of just sitting there. So even though, if the on one isn't a good fit for them, I'm seeing investors that are willing to tap into that equity instead of just sitting around and waiting for them to potentially lose some equity if the housing market does start to take some decline. And then I would say, on the purchase transaction side, something that's kind of piqued my interest is the pad split. I'm looking at that more often where, for those that are not familiar, you can probably speak more to this, Keith, they're buying single family resident properties, even two to four unit properties, and a per bedroom basis, turning those into rental properties. And they're looking to be quite profitable. So I've got my eyes on that too.   Keith Weinhold  36:23   before we ask how we can learn more about you and what you do in there at Ridge Kayle. Is there any last thing that you'd like to share? Maybe a question I did not think about asking you, but should have.    Caeli Ridge  36:35   I would like to share with your listeners that if they are not working with a lender that focuses on their education and has that diversity of loan product that we have, that they're probably in the wrong support group. You need to be working with a lender that has a nationwide footprint and that has diversity of loan product to cover whatever methodology of real estate investing that you're looking for, and really puts a fine touch on the education of your qualifications and your goals as they relate to underwriters guidelines   Keith Weinhold  37:10   what we're talking about, and I know this through my own experience in dealing with Ridge, since I use them for my own loans myself, is sometimes Ridge might inform You that, hey, you can go and do this and make this deal now, but that's going to mess up this bigger thing 12 months down the road, whereas if you talk with an everyday sort of owner occupant mortgage company, oh, they're just not going to talk like that, because owner occupants, they might only buy every seven years, or something like that. And investors are different, and you need to have that foresight and look ahead. Caeli, this has been great, a really informative conversation about the pulse of the market. Tell us what products that you offer in there.   Caeli Ridge  37:50   Our menu is very, very diverse. I would say what. It's probably easier to describe what we don't offer. We do not have bear lot loans or land loans. We're not offering those right now. We do not have second lien HELOCs currently. We suspended that two years ago. But otherwise, guys, we're going to have everything that you're going to need. So just very quickly, I'll rattle off Fannie Freddie, okay, those golden tickets that we talk about, we've got DSCR loans, bank statement loans, asset depletion loans, ground up construction, short term bridge loans for fix and flip or fix and hold. We have our All In One that's my favorite first lien. HELOC, we have commercial loan products for commercial property and residential on a cross collateralization basis. So very, very robust in the loan product space.   Keith Weinhold  38:33   Caeli Ridge, it's been valuable as always. And then Ridge lending group.com, or your phone number   Caeli Ridge  38:39   855-747-4343, 855-74-RIDGE, , and then to reach us an email, if that's your better mechanism to contact us info@ridgelendinggroup.com   Keith Weinhold  38:50   that's been valuable as always. Thanks so much for coming back onto the show.    Caeli Ridge  38:53   Appreciate it. Keith,   Keith Weinhold  39:00   Yeah, terrific information from Chaley. As always, if you're enamored of borrowing tax free, like a billionaire, against your real estate, they sure can help you out with that and determine whether that's right. It doesn't mean that you always should, but if you have investment ideas for debt equity, and you're attentive to cash flows, run the numbers with them and see if it's worthwhile. As far as new purchases, we all know that soured affordability has made it especially tough for first time homebuyers, and there's more data out there that shows that tenant durations are historically long, longer than they usually are. Tenants are staying in places longer because they have to. Investor purchases have stayed strong, though investors have been buying about the same proportion of single family homes and making them rentals that they have historically and Redfin tells us that. The value of properties that investors have purchased is up more than 6% year over year, so investors are still buying and that makes sense. We're in this era where there's more uncertainty than usual, there's higher stock volatility than usual, and more people are sort of asking themselves, where would I get a better return than on income property, and where would my return be more stable today than in income property as well? If you work with Ridge lending group for a time, you're probably going to understand why I personally use them for my own loans. You'll notice that they really understand what investors need. Thanks to Caeli Ridge today and thank you for being here too. But as always, you weren't here for me. You were here for you until next week. I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 3  40:56   Nothing on this show should be considered specific personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Keith Weinhold  41:20   You know, whenever you want the best written real estate and finance info, oh, geez, today's experience limits your free articles access, and it's got paywalls and pop ups and push notifications and cookies disclaimers. It's not so great. So then it's vital to place nice, clean, free content into your hands that adds no hype value to your life. That's why this is the golden age of quality newsletters. And I write every word of ours myself. It's got a dash of humor, and it's to the point because even the word abbreviation is too long, my letter usually takes less than three minutes to read, and when you start the letter, you also get my one hour fast real estate video. Course, it's all completely free. It's called the Don't quit your Daydream letter. It wires your mind for wealth, and it couldn't be easier for you to get it right now. Just text. GRE to 66866, while it's on your mind, take a moment to do it right now. Text GRE to 66866   The preceding program was brought to you by your home for wealth, building, get rich education.com.    

Welcome to The Chrisman Commentary, your go-to daily mortgage news podcast, where industry insights meet expert analysis. Hosted by Robbie Chrisman, this podcast delivers the latest updates on mortgage rates, capital markets, and the forces shaping the housing finance landscape. Whether you're a seasoned professional or just looking to stay informed, you'll get clear, concise breakdowns of market trends and economic shifts that impact the mortgage world.In today's episode, we look at ways to parse through recent economic data. Plus, Robbie sits down with Realfinity's Kipper Bush to discuss how embedded finance can empower real estate professionals with seamless mortgage solutions at the point of sale. And we close with the figures from the April payrolls report.Today's episode is sponsored by CreditXpert—the credit optimization platform that helps today's top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums and close more loans. Download your free copy of the credit optimization playbook today at creditxpert.com/chrisman. 

Welcome to The Chrisman Commentary, your go-to daily mortgage news podcast, where industry insights meet expert analysis. Hosted by Robbie Chrisman, this podcast delivers the latest updates on mortgage rates, capital markets, and the forces shaping the housing finance landscape. Whether you're a seasoned professional or just looking to stay informed, you'll get clear, concise breakdowns of market trends and economic shifts that impact the mortgage world.In today's episode, we look at whether the U.S. economy is growing or shrinking. Plus, Robbie sits down with CreditXpert's Mike Darne to discuss ways lenders and originators can help borrowers improve their credit scores and qualify for more mortgage programs and products. And we close with a review of Freddie Mac's quarterly earnings.Today's episode is sponsored by CreditXpert—the credit optimization platform that helps today's top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums and close more loans. Download your free copy of the credit optimization playbook today at creditxpert.com/chrisman. 

Welcome to The Chrisman Commentary, your go-to daily mortgage news podcast, where industry insights meet expert analysis. Hosted by Robbie Chrisman, this podcast delivers the latest updates on mortgage rates, capital markets, and the forces shaping the housing finance landscape. Whether you're a seasoned professional or just looking to stay informed, you'll get clear, concise breakdowns of market trends and economic shifts that impact the mortgage world.In today's episode, we look at the latest earnings report from Fannie Mae. Plus, Robbie sits down with LendingTree's Matt Schulz to discuss the most attractive states for out-of-state home shoppers and U.S. migration patterns. And we close with a look at what could change the wait and see approach see in current market sentiment.Today's episode is sponsored by CreditXpert—the credit optimization platform that helps today's top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums and close more loans. Download your free copy of the credit optimization playbook today at creditxpert.com/chrisman. 

Welcome to The Chrisman Commentary, your go-to daily mortgage news podcast, where industry insights meet expert analysis. Hosted by Robbie Chrisman, this podcast delivers the latest updates on mortgage rates, capital markets, and the forces shaping the housing finance landscape. Whether you're a seasoned professional or just looking to stay informed, you'll get clear, concise breakdowns of market trends and economic shifts that impact the mortgage world.In today's episode, we look at how lending patterns translate to purchasing patterns from the primary to secondary markets. Plus, Robbie sits down with American Pacific's Audrey Boissoneau to ask her about the latest conversations that originators are having with borrowers as we enter Spring home buying season. And we close with a look at why the U.S. Treasury is increasing its borrowing estimate for the current quarter.Today's episode is sponsored by CreditXpert—the credit optimization platform that helps today's top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums and close more loans. Download your free copy of the credit optimization playbook today at creditxpert.com/chrisman. 

Welcome to The Chrisman Commentary, your go-to daily mortgage news podcast, where industry insights meet expert analysis. Hosted by Robbie Chrisman, this podcast delivers the latest updates on mortgage rates, capital markets, and the forces shaping the housing finance landscape. Whether you're a seasoned professional or just looking to stay informed, you'll get clear, concise breakdowns of market trends and economic shifts that impact the mortgage world.In today's episode, we look at some rumors floating around the mortgage industry. Plus, Robbie sits down with TrAined's Mark Cunningham to discuss the state of tech evolution in the industry, how to win business, and where automation will actually translate to cost savings. And we close with a look at the independence of the Fed.Today's episode is sponsored by CreditXpert—the credit optimization platform that helps today's top mortgage originators and more than 60,000 mortgage professionals qualify more applicants, make more competitive offers, reduce LLPA premiums and close more loans. Download your free copy of the credit optimization playbook today at creditxpert.com/chrisman. 

Welcome to another episode of AI Lawyer Talking Tech! Today, we delve into the rapidly evolving landscape of artificial intelligence and its profound impact on the legal profession. From discussions on data governance concerning AI tools like Microsoft Copilot to the launch of sophisticated AI platforms designed for plaintiff attorneys, it's clear that AI is no longer a futuristic concept but a present-day reality in legal practice. We'll touch upon crucial considerations for law firms embracing AI, including data security, ethical implications, and the critical need for responsible implementation. Join us as we explore the latest advancements and address the key questions surrounding AI's integration into the legal workflow.Bringing Order to Chaos: Insights from CLM's Litigation Management Task Force16 Apr 2025CLM MagazineNobody's Bothering To Figure Out What AI Is Worth16 Apr 2025Above The LawUniversal Migrator Releases April Update with Support for 2882 Migration Paths16 Apr 2025LawSitesNavigating Copilot Adoption: Key Legal Considerations for Data Governance16 Apr 2025JD SupraCMO Series EP171 - Wendy Bernero of Yate Collaborative on Igniting Your Cross-Selling by Delivering Client Value16 Apr 2025LexologyFrom Ravel Cofounder to Knowable CEO, Nik Reed Has Learned that Building Quality AI for Legal Takes A Lot of Hard Work16 Apr 2025LawSitesGoogle Faces $6.6 Billion Lawsuit in UK over Claims of Search Advertising Monopoly Abuse16 Apr 2025Breitbart.comHow No Win No Fee Lawyers Are Making Justice More Accessible in Australia16 Apr 2025Exposed MagazineQorusDocs and Litera partner to help law firms win more business16 Apr 2025Legal FuturesNearly Half of Lawyers Think AI Will be Mainstream in the Legal Profession With Three Years16 Apr 20252CivilityThe Future of Legal: How AI Will Transform Corporate Legal Departments by 203016 Apr 2025ContractPodAiGenAI adoption nearly doubles to 22% in global professional services, report shows16 Apr 2025Tech MonitorAnytime AI Launches 5th Gen Legal AI Platform: Ushering in a New Era of AI-Powered Legal Practice16 Apr 2025AiThority.comThe Inevitability of AI in Court: What Does It Mean for Self-Represented Litigants?16 Apr 2025SlawJudges given guidance on how to spot AI-generated submissions16 Apr 2025Legal CheekHow Our Legal Team Accelerates Contracting with Docusign AI-Assisted Review16 Apr 2025DocuSign.comComms and legal must team up for AI implementation16 Apr 2025PR DailyThe US Still Lacks Its Own GDPR, But That Doesn't Mean Data Privacy Enforcement Isn't Happening16 Apr 2025Corporate Compliance InsightsScaling Justice: Breaking through global regulatory roadblocks for increased justice equity16 Apr 2025Thomson Reuters InstituteMastering AI Risk Management in Law Libraries: A Practical Guide16 Apr 2025Stephen's LighthouseDOJ Implements Bulk Personal Data Transfer Restrictions Arrow Right16 Apr 2025Baker HostetlerWhite House Unveils Updated AI Guidelines for Federal Agencies16 Apr 2025Perkins CoieFrank Ramos Warns Attorneys of Irresponsible AI Usage in Texas Lawyer Article ›16 Apr 2025Goldberg SegallaCalifornia Courts Continue to Cool on CIPA Allegations16 Apr 2025GibbonsTransparency and AI: FTC Launches Enforcement Actions Against Businesses Promoting Deceptive AI Product Claims16 Apr 2025Lathrop GPMPrivacy Health Checkup16 Apr 2025Morris, Manning & Martin,LLPA ‘challenging but exciting time' for the legal profession, says Wilkins15 Apr 2025Harvard Law SchoolAI is not going to take over lawyers' jobs – yet15 Apr 2025Legal FuturesGoogle Search: Data Sharing as a Risk or Remedy?15 Apr 2025Holland & Knight

Thank you to Black Knight. From point-of-sale through post-closing, the company's trusted loan origination system, Empower, as well as its integrated, end-to-end origination solutions deliver unmatched capabilities, functionality and support to increase processing efficiencies and lower operational costs for lenders, as well as improve the homebuying experience for borrowers.

Loan Level Price Adjustments are changing! Here's what you need to know about the previous changes that went into affect this past month.The views, information, or opinions expressed during On The House with Spartan are solely those of the individuals involved and do not necessarily represent those of Spartan Invest and its employees. This podcast is for informational purposes only. The primary purpose of this podcast series is to educate and inform. It does not constitute professional advice or services.Transcript--To learn more about our full-service turnkey operations, check us out online at www.spartaninvest.comConnect with Spartan!Facebook: @spartaninvestInstagram: @spartaninvestTwitter: @spartaninvestConnect with Lindsay!Facebook: @spartanlindsaydavisInstagram: @spartanlindsaydavis

I share some perspective, misconceptions, and facts regarding the recent headlines that lower #creditscore, borrowers are getting better #rates than #homebuyers with better #credit. I also discuss the proposed DTI adjustments that should have grabbed the headlines and why organizations like, @nardotrealtor and @mortgage_bankers_association are celebrating an important victory to repeal the proposed DTI pricing hits!

Thanks to today's sponsor, Richey May. Richey May is a recognized leader in providing specialized advisory, audit, tax, technology and other services to the mortgage industry for almost four decades. Among many awards, Richey May has been named a Top 100 Firm twice and is known in the market for their education and contributions to the mortgage industry. They don't just hire from the mortgage industry; they have the experts who build it.  To experience how Richey May can help you transform your mortgage business, visit richeymay.com.

The crew talks about the controversy with the LLPA, Loan Level Price Adjustment changes for FICO scores.

Pete's back with Numbers, Stats and OTHER Stuff!! Do you think it's fair for someone with a GOOD Credit Score to pay more in fees than a person with a LOW Credit Score?  There's lots of chatter out there about the LLPA (Loan Level Price Adjustment) that went into effect May 1, 2023.  We break it down so it's easy to understand.Check out this episode to hear learn more about what the Government has decided for those getting mortgages.NOTE: May 1, 2023 date for enacting the new LLPA guidelines has been pushed back to August  now to reevaluate the changes.  :)  ---The Real Estate and You Podcast is your Thursday Evening connection to all thing's real estate. Hosted by Brad Weisman, a local Reading Pennsylvania Realtor and Partner at Keller Williams Platinum Realty with over 30 years of real estate experience, this podcast brings you interviews and insights from people all over the country who are invested in or connected to the industry.From homeowners to investors to industry professionals, The Real Estate and You Podcast has something for everyone interested in learning more about real estate.Also, When Brad isn't selling homes, or hosting the Real Estate and You Podcast you can find him on American Dream TV hosting a NEW show—Selling Reading Pennsylvania! Instagram: https://bit.ly/3JE2RKPFacebook: https://bit.ly/3JE2RKPTwitter: https://bit.ly/3FKM4oo--HIGHLIGHTS YOU DON'T WANT TO MISS! If you like this video, check out some of these:American Dream TV- https://bit.ly/42DiQSiCredits - The music for my podcast was written and performed by Jeff Miller.

Today's podcast is brought to you by SimpleNexus, an nCino company, and award-winning developer of mortgage technology for today's modern lenders. Nexus Closing features single sign-on borrower convenience, robust LOS system integration, dedicated title collaboration tools, and flexible support for varying closing scenarios – all so lenders can close with improved speed, security, liquidity, and savings. Learn more at simplenexus.com. 

Today's podcast is brought to you by SimpleNexus, an nCino company, and award-winning developer of mortgage technology for today's modern lenders.Nexus Origination allows lenders and borrowers to complete the mortgage process from anywhere. With a flexible digital loan application, fast pre-qual and pre-approval capabilities, and a simplified mobile disclosure process, hundreds of lenders rely on SimpleNexus to deliver world-class home lending services. Learn more at simplenexus.com.

New loan level price adjustments by Fannie Mae will affect home buyers with both higher credit scores as well as those with lower credit scores. Who is being impacted the most by these LLPA's? How will these llpa's affect your interest rate to buy a house? Are good credit score buyers really paying for lower credit score buyers?  In this episode, we discuss how Fannie Mae's new fee structure will impact your mortgage interest rate in 2023 to help you become The Educated HomeBuyer.✅ - Want to get connected with us or to a local expert in your market, please reach out at http://www.theeducatedhomebuyer.com/expert

The federal government sent major shockwaves through the media by adding loan-level price adjustments (LLPA) to conventional mortgages this week, and the Blackstone crisis is sending shockwaves through the commercial real estate landscape, but it's not clear what this means for single family rental property investors.That's why we're diving in Not Your Average Investor style into these two stories on the newest edition of Not Your Average Insights with JWB Real Estate Capital co-founder, Gregg Cohen, and host, Pablo Gonzalez!We'll talk about:- how will returns be affected by the LLPAs being put in place- what correlates between commercial real estate investments and single family rental properties- why the average investor struggles to interpret these moments through the media's lens- and more!You don't want to miss this one.  These stories are HOT!Be part of the conversation.----------------------------------------------------------------------------------------------

Mimi and Phil talks the new LLPA's from Fannie May and Freddie Mac, reading through the hot button headlines and truly what it means for you. Plus they give us a full market update including the Fed increase of Prime Rate, Unemployment Details and Previewing the Upcoming major report CPI announcement. Learn more about your ad choices. Visit podcastchoices.com/adchoicesSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Mimi and Phil talks the new LLPA's from Fannie May and Freddie Mac, reading through the hot button headlines and truly what it means for you. Plus they give us a full market update including the Fed increase of Prime Rate, Unemployment Details and Previewing the Upcoming major report CPI announcement.

We're tackling some of the biggest topics in the housing market right now - from rate hikes to LLPA changes, home prices, and the overall state of the market. Welcome to the Mr. Mortgage show, with your host, Mark EitelLook, we know there's been a lot of doom and gloom in the headlines lately - with rising interest rates and crazy home prices, it's enough to make your head spin! But fear not, because we've got the data that contradicts some of those headlines and uncovers some opportunities that you don't want to miss.So, grab a drink and settle in as we dive deep into the latest trends and news in the mortgage industry. We'll break down what the recent rate hikes and LLPA changes mean for different types of loans, and we'll even give you some tips on how to stay ahead of the game.Mark deep dives all of this and more, and takes your questions too!Jen's woman-ing the anytime hotline You won't want to miss this episode of the Mr. Mortgage show. We promise to keep it entertaining, informative, and maybe even a little bit funny! So, tune in and join the conversation!Check out the Show at www.MrMortgageRadio.com for more information or call/text 1-855-462-7292 the anytime hotline.

Ep. 183 - Shocking LLPA Fee Changes Exposed: Real Estate Agents Reveal Insider Secrets & Mortgage Mike Weighs In! Dive into this eye-opening episode as the guys joined by special guest, Mortgage Mike of Texas, unveil the truth behind the recent LLPA fee changes and their impact on home buyers, sellers, and the real estate market. Uncover industry secrets, learn how to navigate these changes, and make informed decisions in your home buying or selling journey. Don't miss this valuable episode packed with insights, tips, and exclusive information that every home buyer and seller needs to know!The Only Real Estate Podcast Worth Listening to is brought to you by Nick, Good, Matt Kelderman and Brian Force. Combined, they have over 30 years in residential real estate experience and have sold over 2,500 homes. Each week they bring their guidance and insight to help real estate agents all over the world grow their business and thrive in an ultra-competitive industry.New episodes are streamed live on Facebook Wednesdays at 3PM. Check out the links below for more ways to connect and join the fastest growing community of real estate professionals nationwide!Join The Only Real Estate Group Worth Being A Part Of on Facebook https://www.facebook.com/groups/2315035012099695Follow us on Instagram https://www.instagram.com/onlyrepodcast/Check our website for more content, webinars, full show notes, and your favorite TOREPWLT merch! https://onlyrepod.com/

On today's episode, Editor in Chief Sarah Wheeler talks with Michael Shemi, the principal advisor for FHFA's Division of Housing and Mission Goals, about the recent LLPA changes which have drawn a huge reaction from both consumers and those in housing.Related to this episode:DataDigest: Correcting the LLPA false claimsFHFA Director Thompson speaks out to correct LLPA misinformationMortgage industry takes another stand against the FHFA's DTI feeHousingWire's YouTube ChannelEnjoy the episode!Gathering of Eagles will bring together the nation's top residential real estate CEOs, Presidents, and C-Level leadership teams to grow, network, and set the pace for what's next in our industry. 2023's Gathering of Eagles is at Omni Barton Creek Resort in the rolling hill country of Austin, Texas from June 18-21. Click here to learn more and register your spot!The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team.

  The Friday Five for May 5, 2023: new LLPA home mortgage rate schedule, FDIC insurance deposit reform proposal, Fed interest rate increase, Apple WWDC 2023 rumors, and the 2023 Writers Guild of America strike.   Follow Us on Social! Ritter on Facebook, https://www.facebook.com/RitterIM Instagram, https://www.instagram.com/ritter.insurance.marketing/ LinkedIn, https://www.linkedin.com/company/ritter-insurance-marketing TikTok, https://www.tiktok.com/@ritterim Twitter, https://twitter.com/RitterIM and Youtube, https://www.youtube.com/user/RitterInsurance Sarah on LinkedIn, https://www.linkedin.com/in/sjrueppel/ and Instagram, https://www.instagram.com/thesarahjrueppel/ Tina on LinkedIn, https://www.linkedin.com/in/tina-lamoreux-6384b7199/   Resources: CMS' 2024 MA and Part D Final Rule Changes for Agents: https://agentsurvivalguide.podbean.com/e/cms-2024-ma-and-part-d-final-rule-changes-for-agents/ Cybersecurity Best Practices for Insurance Agents: https://agentsurvivalguide.podbean.com/e/cybersecurity-best-practices-for-insurance-agents/ Safe and Secure Messaging Apps: https://agentsurvivalguide.podbean.com/e/agent-apps-safe-and-secure-messaging-apps/ Summits Registration LIVE, Mislabeled Melatonin, & Netflix Password Sharing: https://agentsurvivalguide.podbean.com/e/summits-registration-live-mislabeled-melatonin-netflix-password-sharing/ The Future of Medicare Part D: The Push Toward MAPD: https://agentsurvivalguide.podbean.com/e/the-future-of-medicare-part-d-the-push-toward-mapd/   References: Apple will launch a journaling app in iOS 17, but that's bad news for some devs: https://arstechnica.com/gadgets/2023/04/apple-plans-mental-health-focused-journaling-app-for-ios-17/ Apple's Worldwide Developers Conference returns June 5, 2023: https://www.apple.com/newsroom/2023/03/apples-worldwide-developers-conference-returns-june-5/ As Writers Strike, AI Could Covertly Cross the Picket Line: https://www.hollywoodreporter.com/business/business-news/writers-strike-ai-chatgpt-1235478681/ FACT SHEET: The Biden-⁠Harris Administration Advances Equity and Opportunity for Black Americans and Communities Across the Country: https://www.whitehouse.gov/briefing-room/statements-releases/2023/02/27/fact-sheet-the-biden-%E2%81%A0harris-administration-advances-equity-and-opportunity-for-black-americans-and-communities-across-the-country/ Fannie Mae Loan-Level Price Adjustment (LLPA) Matrix PRIOR TO MAY 1, 2023: https://singlefamily.fanniemae.com/media/33201/display Fannie Mae Loan-Level Price Adjustment (LLPA) Matrix EFFECTIVE MAY, 1 2023: https://singlefamily.fanniemae.com/media/9391/display FDIC recommends raising insured deposit limit for businesses: https://apnews.com/article/fdic-banks-insurance-first-republic-0a8bc823eec4e3bef0825206c610de15 FDIC Releases Comprehensive Overview of Deposit Insurance System, Including Options for Deposit Insurance Reform: https://www.fdic.gov/news/press-releases/2023/pr23035.html F.D.I.C. Proposes Broadening Bank Insurance for Businesses: https://www.nytimes.com/2023/05/01/business/fdic-bank-insurance-proposals.html Fed Raises Rates but Opens Door to Pause: https://www.nytimes.com/live/2023/05/03/business/fed-interest-rates Fed recap: Here are Chair Powell's market-moving comments after the latest rate hike: https://www.cnbc.com/2023/05/03/live-updates-fed-decision-may-2023.html Federal Reserve raises interest rates to 16-year high as fight to tame inflation persists: https://www.nbcnews.com/business/economy/federal-reserve-next-interest-rate-hike-may-2023-how-much-rcna82277 First Republic Bank collapse spurs fears for banking system, broader economy: https://thehill.com/business/banking-financial-institutions/3982011-first-republic-bank-collapse-spurs-fears-for-banking-system-broader-economy/ From mini rooms to streaming, things have changed since the last big writers' strike: https://www.npr.org/2023/05/03/1173439467/writers-guild-strike-2023-comparison-2007 Hot Pod writer Amrita Khalid on how “A potential writers strike impacts fiction podcasts”: https://twitter.com/askhalid/status/1652074131222048770 How The Writers Strike May Affect Your TV Viewing This Week (And Beyond): https://www.huffpost.com/entry/writers-strike-tv-shows_l_6452606be4b0bc1dad7a71f9 iOS 17 Coming Soon for iPhones and Rumored to Include These 8 New Features: https://www.macrumors.com/2023/05/03/ios-17-rumor-recap/ iOS 17 to Include Mood Tracker and Health App for iPad, AI-Based Health Coaching Service Coming in 2024: https://www.macrumors.com/2023/04/25/ios-17-health-app-updates/ Mortgage fees to rise for buyers with high credit scores, fall for those with lower scores: https://www.mercurynews.com/2023/05/01/mortgage-fees-to-rise-for-buyers-with-high-credit-scores-fall-for-those-with-lower-scores/ New fee structure on May 1 will make mortgages cheaper for some and pricier for others: https://www.businessinsider.com/personal-finance/biden-fhfa-new-mortgage-fee-structure-2023-4 New Loan-level Price Adjustment Framework Memo from Fannie Mae: https://singlefamily.fanniemae.com/media/33241/display Scripted and fiction podcast writers required to stop working on projects immediately as part of WGA strike: https://www.podpod.com/article/1821507/scripted-fiction-podcast-writers-required-stop-working-projects-immediately-part-wga-strike Today's Fed Meeting: https://www.barrons.com/livecoverage/fed-may-meeting-rate-decision-powell-speech-today Writers Go on Strike and Late Shows Go Dark: https://www.nytimes.com/2023/05/02/business/media/late-shows-writers-strike.html

It's Tuesday, May 2nd, A.D. 2023. This is The Worldview in 5 Minutes heard at www.TheWorldview.com.  I'm Adam McManus. (Adam@TheWorldview.com) By Kevin Swanson Nigerian Muslims killed 20 villagers Last week, another 20 villagers were killed by Islamic extremists during a two-day massacre in the Nigerian Nasarawa State. Shockingly, the police never showed up. One resident told International Christian Concern, “We lost hope in the Nigerian Police.” Artificial Intelligence will lead to more persecution of Christians Artificial Intelligence is a rising concern for the persecuted church. Pastor Mao Zhibin is warning Chinese Christians that “with the data collected from WeChat and hundreds of millions of surveillance cameras which are processed with artificial intelligence algorithms, the power is way beyond any other totalitarian regime.” China recently banned its citizens on WeChat from using religious words, including “Christ.” Unbelievably, a baptism video posted on the platform recently led to a Chinese pastor's arrest.  Global Christian Relief lists five ways Artificial Intelligence could be used to persecute Christians. Surveillance and facial recognition. Censorship and content filtering. Deepfakes -- or digitally manipulating one person's likeness with another -- to create fabricated events or speeches. Predictive policing to anticipate crimes before they occur. Highly unregulated, autonomous weapons designed to kill innocent people.  King Charles' polytheistic ceremony this Saturday Now that a minority of those in Great Britain call themselves Christians, the coronation ceremony for King Charles this coming Saturday, May 6th, is adapting.   All major religions will be recognized in a more polytheistic ceremony. Archbishop Justin Welby issued a statement noting that, “The service contains new elements that reflect the diversity of our contemporary society.” Buddhist, Hindu, Jewish, Muslim and Sikh leaders will participate.   Yet, according to the official coronation oath, Charles will vow to “maintain the Laws of God and the true profession of the Gospel. … And do the utmost in his power to maintain in the United Kingdom the Protestant Reformed Religion established by law.”  Biden wants to penalize good creditors and reward bad ones The Biden administration has released new rules on home mortgages intended to punish families with good credit scores, and offering better mortgage rates to people with worse credit scores. In a letter to the White House, state treasurers from 27 states have weighed in on the policy, calling out the plan as a “disaster. It amounts to a middle-class tax hike that will unfairly cost American families millions upon millions of dollars. And – at a time when the real estate market has already slowed considerably due to high interest rates – it will further depress home sales." The National Association of Realtors has also come out against the new rules.  Since 2008, the federal government has issued these LLPA fees to help offset the risks borne by Fannie and Freddie Mac, the federal government's mortgage institutions, under the rubric of the Federal Housing Finance Agency. The fee is often hidden, as lenders will adjust the mortgage interest rates to include the fee. Leviticus 19:15 warns government officials: “You shall do no injustice in court. You shall not be partial to the poor or defer to the great.” And Exodus 30:15 says, “The rich shall not give more, and the poor shall not give less.” Coca-Cola shareholders resoundingly voted down Woke resolution Last week, the shareholders for Coca-Cola voted down a resolution advocating divestiture from pro-life states — get this — by a vote of 87% to 13%, reports World Magazine. By contrast, it seems that the boardrooms of America's corporations have already gone Woke.   A full 75% of the largest 15 companies in the U.S. have a 100% perfect score on the Homosexual Human Rights Campaign Woke survey. And two-thirds of the nation's 500 largest companies provide transgender-inclusive health insurance, up from 3% just 13 years ago.  First Republic Bank goes belly up First Republic Bank became the third big bank failure for the year yesterday. The Federal Deposit Insurance Corporation took control of it, dismembered it, and then handed what was left to JP Morgan Chase Bank, reports WolfStreet.com. That included $173 billion in loans, $30 billion in securities, and JP Morgan gets the $92 billion in deposits. Thus far, the three bank failures this year add up to about $540 billion in total assets. That compares to about $420 billion in bank failures in the 2008-2009 timeframe. The First Republic Bank failure will cost taxpayers another $13 billion, according to FDIC estimates.  Japan warms up to Abortion Kill Pill as fertility has plummeted And finally, Japan is moving towards approving the mifepristone Abortion Kill Pill.   A panel from Japan's Ministry of Health, Labor, and Welfare voted to approve the kill pill last month, allowing women to kill their pre-born babies up to the ninth week of gestation. Japan's fertility rate has dropped to 1.3 per woman. The countries with the lowest birth rates in the world, by use of conception control, abortifacients, and abortion, are Puerto Rico, Portugal, Spain, Bulgaria, Greece, Taiwan, Japan, and South Korea which is at a shocking .79. But let us remember the wisdom of Psalm 9:8.  “The Lord. . .will judge the world in righteousness.” Close And that's The Worldview in 5 Minutes on this Tuesday, May 2nd in the year of our Lord 2023. Subscribe by iTunes or email to our unique Christian newscast at www.TheWorldview.com. Or get the Generations app through Google Play or The App Store. I'm Adam McManus (Adam@TheWorldview.com). Seize the day for Jesus Christ.

Visit www.TLOPonline.com for MORE CONENT! D.O. recently attended his favorite annual conference, the MBA's National Advocacy Conference, in Washington D.C - as he and hundreds of other industry professionals were invited to speak to their local congressman and state senators. They spoke to them regarding trigger leads, LLPA changes and many more news-worthy, important industry issues. If you're not a member of MAA, we suggest you join. It's free to do. This is how you determine that your voice is heard in D.C... 

Rachel Armstrong of Caliber Home Loans and Willie J. Davis (Willie Davis Realtor) of eXp Realty discuss the new Loan-Level Price Adjustment (LLPA) and what you need to know about it. LLPA is a new pricing structure that affects the cost of mortgage loans. We'll cover the basics of what LLPA is, how it works, and what it means for homebuyers and homeowners. We'll also provide some tips on how to navigate this new pricing structure to get the best deal on your mortgage loan. Visit www.williedavisrealtor for more real estate information. | Schedule Your Buyer or Seller Consultation: calendly.com/williedavisrealtor | Get Your Home Value: williedavisrealtor.com/homevalue --- Support this podcast: https://podcasters.spotify.com/pod/show/millennialrealestate/support

Inventory's up for a second week in a row and some push back in Washington on the LLPA. ➡️ We've got two amazing pieces of news coming out of the housing market this week after what seemed like a nonstop roller coaster of up and down overanalyzing data and market reaction. We've seen almost 17,000 new listings come to the market in total nationally and more importantly locally in the Greater Philadelphia area, we saw just over 800 new homes come to the market over the past seven days, ending on Friday of last week.

NMLS 253202 

I am perplexed as to why they would bring in such a program that penalizes people for having good paying jobs, good credit and a history of saving money so that they can have a larger downpayment - I think this is absolutely ridiculous! 

In this podcast we discuss the new LLPA's (loan level pricing adjustments) on Conventional loans.  The media has ran with the notion that better qualified borrowers are taking the hit for lower qualified borrowers.   We discuss why this isn't actually what' going on and a lot more that isn't being talked about. Jeff Cunningham is a Realtor (license # 301547) with United Realty Group (Broker license C34827) serving the Triad NC area.Jeff can be reached atEmail -  jeff.cunninghamrealtor@gmail.com,website, jeffcunningham.mysalecore.com,Facebook,- https://www.facebook.com/jeffcunninghambroker/ Gina Milloway is the Mortgage Loan originator NMLS #1676070 & CEO of Triad Mortgage LLC, NMLS # 2385260,   Gina can be reached at,Email:  gmilloway@traidmortgagellc.comWeb: https:  https://www.ginamillowayloans.com/Facebook - https://www.facebook.com/mortgageswithgina/Office -336-290-1891 NMLS Consumer Access:  https://nmlsconsumeraccess.org/Privacy Policy:  https://www.ginamillowayloans.com/privacy-policyTriad Mortgage is an equal housing lender 

LLPAs, are they really a good credit tax to subsidize bad credit borrowers? Feels like Robinhood to lots of people. Tax the good credit borrowers to fund a discount for bad credit.This has gottne lost of press over the last several days. Mark has spoken on the topic to several Realtor groups and has been interviewed on other radio shows and podcasts during the past week.What is going on, how does this make sense, and why is it happening?Mark deep dives the LLPA fees and what they actually mean to you. Good. bad, right, or wrong, we're stuck with them for now and people need to know any and all work arounds.He also takes your questions on this week's show. Jen's woman-ing the anytime hotline and Mark answers all your real estate and mortgage questions: in this episode of “The Mr. Mortgage Show”- Hosted by Mark Eitel. Live Saturdays & available every day 24/7 on your favorite podcast networks. Check out the Show at www.MrMortgageRadio.com for more information or call/text 1-855-462-7292 the anytime hotline.

Fannie and Freddie are changing some rules that could make home loans more expensive for people with high credit scores, and less expensive for those at the low-end of that spectrum. Critics say the rules amount to an unfair subsidy for high-risk borrowers, but the GSE's say it's a misconception about what they are changing.   Hi, I'm Kathy Fettke and this is Real Estate News for Investors. Please remember to subscribe to this podcast and leave us a review.   You may have seen the headlines already. One says: “A Bigger Subsidy for Risky Mortgages.” Another says: “Upside Down Mortgage Policy.” Another says this new policy will “screw Up the Homebuying Market.”   The headlines refer to a new rules from the Federal Housing Finance Agency regarding loan-level price adjustments or LLPAs for conventional loans. They officially kick in on May 1st, although some lenders have already been incorporating them into their fee structures.    What's an LLPA?   If you have a mortgage that's backed by Fannie or Freddie, you have paid or are paying this fee. LLPAS are fees that the government-sponsored enterprises charge when they buy loans from lenders. The fee is passed on to borrowers as a percentage of the loan and the amount is based on the borrower's risk factors such as credit score and down payment. People with higher risk factors pay higher LLPAs, and they can be paid up front or with higher monthly mortgage payments.    Business Insider offers a few examples of how the new pricing structure will impact borrowers.    1 - Someone who might see an increase could have a credit score of 700 with a 20% down payment for a $300,000 loan. They would have previously paid 1.25% of that loan amount or $3,750. With the new fee structure, they'd pay 1.375% or $4,125, which is an increase of $375. (1)   2 - Someone who might see a decrease could have a credit score of 780 but a down payment of just 3%. Previously, they would have paid .75% on a $300,000 loan or $2,250. With the new rules, they'd pay .135% or $375. That's a $1,875 reduction.   NAR, NAHB Opposed to the New Rule   The National Association of Realtors is among those criticizing the rule change. It is encouraging the FHFA to rescind the new rule especially given the affordability issues facing home buyers. It suggests instead that: “The GSEs could simply reduce the fees for (higher risk) borrowers and maintain the others at the same cost—especially given the sharp decline in affordability over the last year.” (2)   National Association of Home Builders CEO, Jerry Howard, told Newsweek: "In the short term, this may increase homeownership among the targeted group, but I'm afraid it could decrease homeownership among the middle class. I'm not sure that we're not robbing Peter to pay Paul here." (3)   FHFA Defends New Rules   FHFA Director Sandra Thompson issued a press release this week to “set the record straight.” She says: “Much of what has been reported advances a fundamental misunderstanding about the fees charged by the GSEs and why they were updated.” She says the pricing structure hadn't been updated for many years, and the new pricing structure is the result of a 2021 review. (4)   The goal: “To maintain support for purchase borrowers limited by income or wealth, ensure a level playing field for large and small lenders, foster capital accumulation at the Enterprises, and achieve commercially viable returns on capital over time.”   The overhaul has been done in steps over the last 18 months, beginning with fee increases for loans on second homes, high balance loans, and cash-out refi's. Then some fees were eliminated for first-time homebuyers with lower incomes but the means to meet their loan obligations. She says in her statement that this latest step is a recalibration of upfront tees that will make the housing finance system more resilient.   Among the misconceptions, she says:   1 - Stronger credit borrowers are not subsidizing weak credit borrowers. She claims that fees generally increase for lower credit scores, despite the down payment.   2 - She says the new fee structure does not raise the fees for all low-risk borrowers. She says many borrowers with high credit scores or high down payments will see no change in their fees or even a decrease.   3 - She says the old framework was not perfectly calibrated to risk. She says it was essentially outdated, and is now better aligned for the performance of a mortgage relative to its risk.   4 - The new rules do not encourage low-income borrowers to pay a lower down payment to benefit from lower fees because they will also have to pay mortgage insurance premiums.   5 - The elimination of upfront fees is not for people with lower credit scores but for borrowers with lower incomes, and she says they are essentially supported by the loan fees for second homes and cash-out refi's (and not by good credit, high down payment borrowers).   6 - The changes are not intended to stimulate mortgage demand, but rather to advance the soundness and safety of the GSE's.   The old and new fee structures are listed on the Fannie Mae website. You'll find links to those tables in the show notes if you'd like to compare. (5) (6)   Impact on Real Estate Investors   So how does this impact real estate investors?   Shawn Huss of Warsaw Federal told RealWealth: “For investment lending, it has helped out in some situations with better pricing when you have a greater down payment or a two to four unit. For a multi-unit, Fannie used to charge 1.0 points in additional pricing. Now if an investor's credit score is 780 or higher, it is only .375%. Another example is pricing used to be 2.125 points in pricing for 70% loan-to-value.  With the new pricing, at 70%, the pricing is better by .50 points which helps with lower rates.”   The new pricing structure only impacts conventional loans – not jumbo loans, FHA mortgages, or other non-conforming loans.   You'll find links to the stories I mentioned at newsforinvestors.com including the charts from Fannie Mae where you can compare the two pricing structures.   And please, remember to hit the Join for Free button at RealWealth and subscribe to our podcast.   Thanks for listening, Kathy   Links:   1 - https://www.businessinsider.com/personal-finance/biden-fhfa-new-mortgage-fee-structure-2023-4   2 - https://www.nar.realtor/washington-report/nar-advocates-for-fhfa-to-maintain-affordability-for-all-homebuyers   3 - https://www.newsweek.com/biden-raises-costs-homebuyers-good-credit-help-risky-borrowers-1795700   4 - https://www.fhfa.gov/Media/PublicAffairs/Pages/Statement-from-FHFA-Director-Sandra-Thompson-on-Mortgage-Pricing.aspx   5 - https://singlefamily.fanniemae.com/media/33201/display   6 - https://singlefamily.fanniemae.com/media/9391/display

Date: April 27, 2023Topics:As we roll into the next election cycle, AI is starting to show its face, and it could be rather misleading.President Biden has promised to veto the GOP-led bill to raise the debt ceiling.Senator Dick Durbin has called on Chief Justice John Roberts to testify in a Senate committee hearing on Supreme Court ethics.Chief Justice John Roberts has said that he will not be testifying in front of the Senate on Supreme Court Ethics.There is a change to mortgages obtained through federal government programs that will effect how much you pay in LLPA fees.The housing market is seeing a major slow-down.The Supreme Court will be taking up a case on whether the social media pages of government officials are used for personal or business purposes.Tucker Carlson has been let go from the Fox network.Don lemon has been let go from CNN.Rapid and Good NewsFollow Nick on Twitter here.Follow Chris on Twitter here.Follow BBP News on Twitter here.Read our news articles here.Join us on Clubhouse for episode livestreams here.

A few days ago President Biden initiated a new federal rule could raise the monthly mortgage payments of buyers with good credit scores (680+) by over $60 a month… And when I first saw this I thought for a minute it was a Babylon Bee headline. Turns out it isn't, but is from Newsweek. I then shared it with our Instagram family(https://www.instagram.com/seedtime/) and the response was insane. I probably had 50 DMs in less than 24 hours about it - some outraged, some confused, some with questions. And so today we are going to be doing our weekly LIVE podcast and discussing this and answering as many questions as we can about it. Here are a few of the questions we will be answering: How this new fee affects homebuyers with a credit score of 680 and above 2 What credit score ranges will be getting a discount from current rates  How 2/3 of the population is negatively affected by the new mortgage calculation adjustments  What you might expect to pay if your credit score is around 680 under the new rules  If you already have a mortgage, will these new adjustments apply to you  And more…  Links for further reading: LLPA Matrix: https://singlefamily.fanniemae.com/media/9391/display LLPA changes: https://www.mortgagenewsdaily.com/news/01192023-big-llpa-changes

On today's episode, Editor in Chief Sarah Wheeler talks with Dave Stevens, CEO at Mountain Lake Consulting and former CEO of the Mortgage Bankers Association, about the recent LLPA changes and what he thinks the housing industry should be fighting for now that the DTI requirement has been pushed back.Related to this episode:Connect with Dave on LinkedInThe mortgage industry doesn't want the DTI LLPA fee delayed. They want it killedHousingWire's YouTube ChannelEnjoy the episode!Gathering of Eagles will bring together the nation's top residential real estate CEOs, Presidents, and C-Level leadership teams to grow, network, and set the pace for what's next in our industry. 2023's Gathering of Eagles is at Omni Barton Creek Resort in the rolling hill country of Austin, Texas from June 18-21. Click here to learn more and register your spot!The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team.

Welcome back, everyone, to Planet One Podcast (and Raised on Real Estate)! Greg Angello on a twofer in under a week. As mentioned in our previous podcast, we have our new guest, Stefani Boyd, buckled in for take off.Stefani hails from Sacramento California, and is a mortgage broker and a real estate broker with many, many years of experience. Here on the Planet, we start in Stefani's early years, her days working in the public defender's office, and then joining her family's real estate business in the early 2000's.Stefani brings a wealth of knowledge, perspective, and insight. We go on to discuss first time home buyers, and the new mortgage "moratorium" on credit scores, or, as Stefani terms it, the Loan Level Pricing Adjustment (LLPA).If you are wondering what this LLPA, credit score adjustment, is all about (or, as I see it, a moratorium on the distribution of wealth), then listen in close.The good news is that Stefani has agreed to come back and can continue in how Stefani has help many first time buyers, and how AI (Artificial Intelligence) will impact the real estate industry. Ya'll come on back for that!You can reach Stefani via her website: https://www.stefaniboyd.com/ ; sboyd@stefaniboyd.com; or (916) 215-9811 (PST)Thank you for being part of our Planet One Podcast family! Please share this with anyone you care about or think may benefit from it. Your comments are very well appreciated. Please keep them coming!Visit us on Spotify http://spoti.fi/3k9aos2And our YouTube Channel https://www.youtube.com/@planetonepodcastIf you are interested in being a guest on Planet One, please send me an email to info@planetoneradio.com.Until next time...Be kind to one another  - Be respectful of one another -- Love one another --Take care!Planet One Podcast is a Freedom Network Production. All Rights Reserved.

DON'T believe all the headlines you read about the recently announced loan level price adjustments (LLPAs). You should NOT take the advice of your favorite new reader or TickToc realtor suggesting that you should tank your credit to get better rates!! This is NOT true!! I briefly discuss the LLPAs (which were implemented in early January) to try and change the narrative on this incorrectly reported spin. As realtors, lenders, and homebuyers, we should instead focus on the positives the adjustments will have for homebuyers--especially first time home buyers! Amy Sault, realtor with Custom Home Realty, joins me to discuss our stories (personal and clients) of how buying "young" can have long-lasting benefits.  We discuss strategies and tips that first time homebuyers can use in a competitive market.

Fannie Mae and Freddie Mac will enact changes to fees known as loan-level price adjustments (LLPAs) on May 1 that will affect mortgages originating at private banks nationwide, from Wells Fargo to JPMorgan Chase, effectively tweaking interest rates paid by the vast majority of homebuyers. The result, according to industry pros: pricier monthly mortgage payments for most homebuyers — an ugly surprise for those who worked for years to build their credit, only to face higher costs than they expected as part of a housing affordability push by the US Federal Housing Finance Agency. In today's espisode we'll breakdown on the facts on what loan level price adjustments (LLPA) and compare the differences before and after the change This is a show for millennial first time home buyers looking to buy their 1st home and build generational wealth through real estate. Real estate is a way to build black wealth and close the wealth gap. https://singlefamily.fanniemae.com/media/9391/display

Girls On The Air have an awesome podcast that starts with red hot real estate opportunities in Ventura County. Larry Reyes stops by to give us the inside tip on interest myths that have recently come into the news, Loan Level Pricing Adjustments also known as LLPA's find out what's real & what's rumor with Larry Reyes. Lorine of Gentle Transitions has insight on the huge advantage senior living communities have with security, recreation, new friends, great food & a way to transition gently into your new and fulfilling life. Janet Sprissler takes on Rent Control in Oxnard, you really need an expert, especially if you're a first time homebuyer in Oxnard Janet, owner of Rent 805, has the scoop. With spring turning to summer and the weather heating up Tamara Molina The Girl's Home Warranty expert getting warranties for the working systems in your home, especially the AC!  What a line up! This is a Girl's On The Air Podcast you need to share!

Live from the zoom town studios in beautiful Bend, Oregon, it's Truth in Lending! The podcast for mortgage people, by mortgage people. On this week's episode, Tammy Golden of Arch Mortgage Insurance joined us in the studio to bust out some mortgage insurance myths and provide some insight to help you better serve your clients. What are the factors for how much the fee will be? How can I get rid of it? and how do market conditions effect prices? Tune in for some helpful information about the new LLPA's from Katie, and as always, your market updates from the Truth in Lending Mortgage News.

Live from the zoom town studios in beautiful Bend, Oregon, it's Truth in Lending! The podcast for mortgage people, by mortgage people. Today the CE legend himself, the one and only Ken Perry, joined us to provide some insight as to how he was able to pivot from a top producing loan originator to creating the mortgage education empire we all know today as the Knowledge Coop. Tune in to find out why mortgage industry workers need compliance, Ken's two-sense on the CFPB's funding being ruled unconstitutional, and his opinion on how the new LLPA's taking effect in May might affect our industry. We promise this is an episode you're not going to want to miss! Randy Vance NMLS 1455628, Hixon Mortgage Company a subsidiary of American Pacific Mortgage Corp NMLS 1850 Equal Housing Lender. Katie Pelchar NMLS 1588514, Loan Depot NMLS 174457, Equal Housing Lender.

On today's episode, Editor in Chief Sarah Wheeler talks with Managing Editor James Kleimann about layoffs at Rocket, pricing strategies at UWM and how lenders are reacting to changes in loan level pricing adjustment fees.Related to this episode:Rocket eliminates about 50 jobs in its second round of layoffs for 2023UWM gave brokers big discounts to play with. It could be riskyThe mortgage industry is nervous about LLPA fee changesEnjoy the episode!Gathering of Eagles will bring together the nation's top residential real estate CEOs, Presidents, and C-Level leadership teams to grow, network, and set the pace for what's next in our industry. 2023's Gathering of Eagles is at Omni Barton Creek Resort in the rolling hill country of Austin, Texas from June 18-21. Click here to learn more and register your spot!Be sure to check out our Youtube channel for special behind-the-scenes content and video versions of HW Media podcasts!The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team.

Candor's patented automated underwriting decision engine, CogniTech™, is a state-of-the-art, 100% machine platform that can handle infinite loan scenarios.  The portability allows clients to plug in the technology wherever an underwrite happens during the loan lifecycle, from point of sale to servicing. Clients can instantly scale to match loan volumes, improve quality to mitigate repurchase risk, & boost liquidity. Candor Can Do

Affordability pressures continue to mount as housing supply tightens. How long will home prices continue setting records and what could it mean for credit availability?----- Transcript -----James Egan Welcome to Thoughts on the Market. I'm James Egan, Co-Head of U.S. Securitized Products Research here at Morgan Stanley. Jay Bacow And I'm Jay Bacow, the other Co-Head of U.S. Securitized Products Research here. James Egan And on this edition of the podcast, we'll be talking about continued growth in the housing market and the current state of supply. It's Thursday, October 7th at 10:00 a.m. in New York. Jay Bacow So, Jim, last time we were on this podcast, it seemed like we were seeing record home prices. However, every month since, we've continued to break those records. What's going on? When do we expect to see home prices start to turn? James Egan The most recent print - and so we're talking about Case-Shiller National here that we got in September, it referenced July; 19.7% year over year growth. We're rounding to 20%. Now, we've set new records each of the last few months, but if we remove this specific chapter in history, the prior record from the early 2000s was a little bit over 14%. So, we're well north of anywhere we've been. Jay Bacow All right. But if we are at a record right now, I thought previously you had talked about things slowing down. So, what's going on there? James Egan So, when we talk about the view for home prices, right? We talk about demand, we talk about supply, we talk about affordability, and we talk about mortgage credit availability. And one of the things we highlighted the last time we were on this podcast was that affordability. Those pressures that were building up there were going to lead to a slowdown in home price growth in the second half. The most recent print, as I said, September - references July - technically, we're in the second half of the year. We do think as we move through the third quarter and really as we get into the fourth quarter is when you're going to start to see those affordability pressures take hold. James Egan Most notably, mortgage rates - look, they haven't increased dramatically from all-time lows in January, but they're still off of those lows. Most importantly, they're not setting new lows. And that means they're not acting as a release valve for this increase in home prices. And we're seeing that manifest itself in terms of growing affordability pressures. The monthly payment on the median priced home is up over $200 since January - that's over a 20% increase. On top of that, when we look at consumers attitudes towards buying homes, they're at the lowest point they've been now since the early 1980s, far lower than they were at any point during the global financial crisis earlier this century. But affordability pressures are just one piece of the puzzle here. There are other aspects that might be keeping home prices elevated. Jay Bacow When I'm thinking about home prices, you know, obviously one of the factors is going to be supply; that's Economics 101. We've talked beforehand about how we're not building enough homes. Is that just the biggest factor here? James Egan I do think that we can't ignore supply. I mean, when we think about this growth we've seen in home prices, the most consistent or persistent part of that narrative has been a shortage in supply. James Egan Now there are a lot of ways that we can go about attempting to size the shortage in supply in the housing market. But two of the things we looked at recently were kind of net supply versus net demand, but also the vacancy rate. So, if we start with that first calculation, we look at net supply in terms of the total amount of single unit completions added to the market every year, the total amount of multi-unit completions added to the market every year, and we control for a small obsolescence rate. Some of the housing stock does come out of use every single year. And we compare that net supply to net demand or household formations. James Egan And you know what? Going back to the early 1980s, those two metrics track each other pretty well. That relationship really fell apart post the global financial crisis. From 2009 to 2019 net demand has exceeded net supply by a total, a cumulative total of 5 million units. Now that's just one way to size the shortage from purely a building perspective. Another way is to look at vacancy rates. Owner vacancy rates right now are tied for the lowest they've been since the Housing Vacancy Survey started getting published in the 1950s. If we were to raise owner vacancy rates to their average level of the past 40 years, that would take over 1.5 million units. So, from a building perspective, we're anywhere from a 1.5 to 5 million units short. Jay Bacow Alright but new home sales will obviously change the amount of absolute supply. But then there's also existing home sales – now somebody's gotta buy a home, someone's going to sell that home. That's also gotta be part of that calculation. How do I think about the interplay between new home sales and existing home sales on the supply front? James Egan I mean, you hit the nail on the head there, right? We talk about new builds in terms of a supply perspective, but they're just one piece of the puzzle here. We have to think about existing inventories. We talk about shadow inventories as well with respect to things like foreclosures that play a role in supply, that play a role in housing activity, that play a role in home prices. But it's not just new inventory that's short, existing inventory is short as well. If we look at the number of single unit homes available for sale, we have that data going back to the 1980s and it's never been lower than it is right now. It would take, depending on how we measure it, 1.1 to 1.5 million additional existing units being listed for sale to bring that number back to long run averages. James Egan So supply is really tight across the board. Now, the pace at which that supply is tightening, that has slowed down. We're not seeing the same year over year decreases that we were seeing in 2020. So, we are starting to see a little bit of a plateau there. We do think that you're going to start to see supply increasing a little bit. But these incredible tights from a supply perspective we think are playing a pretty substantial role in keeping home prices this elevated despite the growing affordability pressures that we've noted both earlier and on previous podcasts. Jay Bacow All right. So we addressed supply, we addressed demand, we addressed affordability. The last pillar is credit availability. James Egan Yes, we think that credit availability kind of plays two roles in both supporting the healthy foundation of the housing market here, but also important for the trajectory of the housing market going forward. Credit availability itself. We were easing, from a lending standard perspective, on the margins from 2013 through 2020 - February of 2020 specifically. Then we gave up six years' worth of easing over the course of the next six months. Lending standards have started to ease a little bit from here, but we're starting from a very conservative place, if you will. That starting point means that we think that delinquencies foreclosures will remain controlled. But the fact that we believe we're going to see easing from here also means that we can see more demand than we otherwise would materialize despite the fact that we're seeing these affordability pressures. James Egan Both of those are positive, but there are reasons to think that we'll see credit easing from here, one of which being the level we're coming from, another being how mortgages are performed. But a big factor here is also what we're hearing out of the administration down in D.C. But Jay, can you kind of walk through what we're seeing from these various FHFA announcements, what the implications could be here? Jay Bacow When we look at the FHFA announcements, there's been a series of them and it's not just FHFA, it's also been from HUD and Ginnie Mae. And they're all aligned with what we believe are the current administration's goals to increase access to homeownership and reduce some of the affordability pressures. And one of the ways that they've done that is they've allowed the GSEs to increase capital via producing more loans that are either for investors and none are occupied where the guarantee fee is accretive to their business via warehousing more cash window loans, along with changing the regulatory relief for doing credit risk transfer deals. And we think the GSEs are going to take this capital and with this capital, they're going to expand the credit box, perhaps in the form of LLPA changes or G-Fee reductions, which will make it both cheaper for homeowners to get a mortgage and perhaps shift the credit box a little bit wider, particularly on the lower end of the credit box. Doing this will help align the affordability pressures and lack of access to homeownership with the current administration's goals. James Egan So, when we think about everything we've talked about on this podcast, from supply to credit availability, what that means for home prices moving forward; look, affordability pressures are real, and they've been building. But a tight supply environment, even if we're seeing it ease a little bit and credit availability easing from here, both of those things should work to keep home prices growing. We think they contribute to the healthy foundation. The pace of growth it will slow from almost 20% today. It'll slow into the end of the year. We think throughout 2022 it continues to slow but remains in the mid-single digits from a growth perspective. James Egan So, Jay, thanks for taking the time. Jay Bacow Always a pleasure. Thanks, Jim. James Egan As a reminder, if you enjoy Thoughts on the Market, please take a moment to rate and review us on the Apple Podcasts app. It helps more people find the show.

It's fairly common knowledge that our coral reefs across the world are in trouble, but not many people know a Utah man is behind an effort to save them. Brent Andersen, CEO of Loveland Living Planet Aquarium joins our hosts Chef Lesli Sommerdorf and Brandon Young in a fascinating discussion focusing on Brent's and LLPA's efforts, along with marine biologists and others worldwide, to rescue the coral reefs and the marine life they support. The marine biologist, despite being born in land-locked Utah, has made extensive efforts to be a part of the rescue of coral reefs and you'll want to listen in to find out how you can help. You might wonder why Harmons partners with an aquarium. The answer is, we partner with them. We provide food for the thousands of animal inhabitants they house. In other words, they eat the same fresh produce you do.  Brent is passionate about marine life. Listen to the podcast and learn what he does to help save the coral reefs of the world. It's an amazing story and you can help. The details about doing that are also included in the podcast. And if you choose to visit the aquarium you'll be amazed at all the animals and encounters they offer.  Visit Loveland Living Planet Aquarium at: https://thelivingplanet.com/conservation/coral-rescue/ For more information please visit https://www.harmonsgrocery.com Follow us on Facebook: https://www.facebook.com/HarmonsGroceryStores/ Follow us on Instagram: https://instagram.com/harmonsgrocery?igshid=6ir2kf3qy3jy For our podcast blog directory: https://www.harmonsgrocery.com/podcast-archive/ About Brent Andersen Despite growing up in landlocked Utah, Brent Andersen's curiosity for marine life was sparked by a gift he received as a child. His grandmother gave him a book about the ocean, and his curiosity grew into a passionate pursuit that led him to a degree in marine biology from the University of California, Santa Barbara.  His real dream was to share his passion with the children of Utah, and with the idea keeping him up at night, he decided to follow through and open an aquarium—Loveland Living Planet Aquarium, to be exact. This is a major personal accomplishment for Andersen, but from his perspective, he is just getting started.  As long as there are conservation needs on the planet, and opportunities to help audiences learn and grow in their connection to and understanding of nature, he will be working to keep expanding the reach and mission of LLPA.

Mar. 16: MLO, recruiting, training jobs; sales, doc, processing tools; LLPA price adjustment changes sweep through investors MCT MSR Services. Whether you are getting your agency approvals, selling through co-issue, or actively growing your portfolio, MCT® offers a suite of tools along with an experienced team to help you with all your mortgage servicing rights needs.