Greg Cowart on Zillow
Greg Cowart - Mortgage Broker or Lender at The Securus Group
Greg Cowart - Roseville Loan Guy

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FHA Streamline Refinances become a lot more viable…

The Obama administration released new program guidelines in April which, once implemented, will help people with federal insured mortgages – that are NOT eligible for a HARP 2.0 refinance because their loans is not backed by Fannie Mae or Freddie Mac – refinance into a lower rate/payment loan. The white house is estimating […]

FHA fund is healthier than expected

This month the FHA has reported to Congress that the MMI Fund (Mutual Mortgage Insurance Fund), the backbone of its mortgage programs and what makes FHA mortgages possible, is going to return to its mandated capital reserve level faster than previously expected.

Currently the MMI Fund’s capital reserve ratio is 0.24% […]

Maximum Loan Limits are going down (but that is OK)…

If you have heard about the coming expiration of temporary higher loan limits for FHA, VA, Fannie Mae, and Freddie Mac mortgages put into place in 2008 as an attempt to not let the housing market in higher priced areas fall off a cliff, you may have heard reports of doom and gloom […]

The Platinum Down Payment Assistance Grant

Almost no money down, literally? Yes, it’s true, and there are only a few places that can offer this program. What I’m talking about is the CHF Platinum Program (some companies have decided to rename it their own name to make it seem like something special only they can do for you, such […]

Credit Scoring: Reason Codes

A FICO® credit score is a performance objective score. The performance objective of the credit score is the “likelihood of a consumer to have a 90 day late on their credit report in a 24 month period”.

Here are the 20 Reason Codes (or Score Factor) that can show up on a mortgage credit report.

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Fannie Mae brings back closing cost assistance, and improves it even more!

I have some GREAT news. Government-chartered mortgage giant, Fannie Mae announced they are bringing back closing cost assistance to buyers of HomePath-eligible homes. People buying one of the Fannie Mae owned REO’s will receive a 3.5% credit towards closing costs. In most cases this 3.5% should be enough to cover 100% of the […]

Housing in the US never as “undervalued” as it is today…

Continued depreciation of property values in 2010 has made housing more undervalued relative to income than ever before. Using the latest Case-Shiller home price index American housing was 21% undervalued when compared with disposable income per-capita.

This data includes the index published by the Federal Housing Finance Agency and shows that […]

FHA 5/1 ARM, a fools bet, or are you a fool to ignore it?

This is an answer to a question posted to me in Zillow.com. A homeowner in Southern California was pondering a 5/1 FHA ARM with their loan officer. Of course it’s sad to me that one would have to turn to a bunch of strangers on a website to ask this question when their […]

Neither the best of times, nor the worst of times…

This is a great article by one of our nation’s top independent financial professionals, Ric Edleman. Ric talks about today’s real estate market, the different perspective between buyers and sellers, and why this difference may be slowing down the normal real estate cycle.

Ric’s article <- click

Free or “No Cost” Refinance? Do they exist?

If you’re like me you can’t go anywhere without hearing ads for FREE and so-called “No Cost” refis. If only it were that easy. The truth is, there is no such thing as a no cost refinance. The lender is simply taking a higher rebate from the bank and applying it to your […]