Builders Fight for Value Recognition for Energy-Efficient Homes

Last week, HUD Secretary Shaun Donovan and U.S. Department of Energy Secretary Steven Chu met at an energy auditing company on Long Island to announce the launch of the FHA’s new PowerSaver pilot program. Working with 18 lenders across the country, the program will allow homeowners to borrow up to $25,000 to finance energy improvements in an existing home, including improvements to insulation, duct sealing, replacement doors and windows, HVAC systems, water heaters, solar panels, and geothermal... [Read more]

CFL Bulbs, Why and How to Recycle

In my profession, one of the most common questions that I get is do CFL bulbs really make that much of a difference and why should I switch? This can be looked at in many different ways but here are some points that I feel are key. Saves 40.00 in electricity costs over its lifetime Uses 75% less energy than incandescent bulbs and lasts ten times longer Produces 75% less heat The important thing is to recognize where to install them to get these benefits. It’s recommended to install them in heavy... [Read more]

Tips to Avoid Energy-Efficiency Scams

We’re all trying to save money on energy bills these days. Plenty of people who sell energy-saving products are willing to take unfair advantage of you in your quest to save a buck. You won’t save any money or energy if you buy products from people who make false claims. When it comes to purchasing air-conditioners, insulation, roofing and even AC services, we homeowners have to do our homework before we start writing checks. Don’t let a salesperson mislead you into spending too... [Read more]

Energy Audits

Are you spending too much on your energy bills, do you deal with rooms that are warmer than others, or do you feel like you have to dust all the time? If so, then we can help and here is a recent comment from a customer of ours. Last week I had a home energy audit conducted by REEis on the recommendation of a colleague in the sustainability/”green” field here in Phoenix. I had some idea of what to expect but the care and detail in the explanation of the process that they went into to ensure... [Read more]

Appraiser Independence?

Federal Reserve Proposal Comment regarding Docket No. R-1394 and RIN No. AD-7100-56: Post your own comments to the Fed:  http://bit.ly/fJ3lkW Just because someone has an appraiser’s license does not mean they are knowledgeable, ethical or moral nor good at what they do.  Therefore, the “judgments” of these people are not infallible and Appraisal Management Companies (AMC) seem to just be another revenue stream for the Big Banks and provide no benefit to the consumer whatsoever. Since the... [Read more]

A Look At Keynesian Economics

For those of you not familiar with Keynesian economics or what a licensed mortgage loan originator does with their “free time”, then this is for you.  In short, licensed mortgage professionals find ourselves studying economic news and essentially becoming economists in order to try and determine the best time to lock a loan.  As a result, some of us will develop a professional political-economic opinion based on the historical data.  By the way, it is Keynesian economics has been the driving... [Read more]

Restore Housing Petition – Please Sign

Petition to Restore Credibility and Sensibility to America’s Residential Valuation System Purpose: To restore credibility and sensibility to the home valuation system in America. Background: On May 1, 2009, the Federal Housing Finance Agency (FHFA), along with the GSE’s, adopted the Home Valuation Code of Conduct (HVCC), in an agreement with the NY Attorney General. HVCC has crippled the residential valuation system, created massive business failures and unemployment, and caused consumer... [Read more]

Very Important Update Regarding FHA Financing

Here is the latest information on FHA Mortgage Insurance increases: FHA publishes MIP changes ( http://bit.ly/acon4I ) Main points: Effective for case numbers assigned on or after October 4th, the new MIP structure will be implemented. Upfront premium will be 1% for all forward mortgages (purchases and refinances including streamlines) Annual premium Over 15 year terms 90 bps for LTVs over 95% 85 bps for LTVs of 95% or less 15 year term or less 25 bps for above 90% LTV No annual premium... [Read more]

Wouldn’t you do your taxes with a CPA if it was the same price as Turbo Tax?

Is YOUR loan originator licensed?  Find out here: NMLS License LookupI am sure you have heard about this by now, but if you have not let me share again. Effective July 1, 2010 all Mortgage Bankers and Mortgage Brokers in the State of Arizona were required to have their loan originators licensed. Now based on an exemption in the laws the big Interstate Chartered Banks do not require their loan originator working for a big bank such as Chase, Wells Fargo and Bank of America to be licensed. This... [Read more]