National Daily Comprehensive Mortgage, Real Estate, Business, and Economic News, including the latest stock and bond markets, gold and silver prices, crypto currency, rates, and overview of important housing and finance news in the United States for Friday, January 10th, 2025.

I had both German Shepherd and Doberman Pinscher dogs all my life and currently have Doberman Pinschers. Both Doberman Pinschers and German Shepherds are phenomenal dogs. Both Doberman Pinschers and German Shepherds are extremely intelligent dogs, if not the top two smartest dogs in the world. Both Dobermans and Shepherds to not need any training but are self trained. They watch their owners and learn by themselves. They quickly pick up what is the right thing to do and what type of behaviors is not condoned. However, I prefer Doberman Pinschers vs German Shepherds due to various reasons. Both Doberman Pinschers and German Shepherds are highly intelligent, trainable breeds. However, knowing that any dog—regardless of its breed—needs training and socialization is essential. The belief that dogs do not need these or are “self-trained” can result in behavior problems.

That being said, here are some reasons why people might prefer Doberman Pinschers over German Shepherds:

Agility and Size: Dobermans have a more streamlined build, which makes them more agile than German shepherds. Doberman’s streamline build. This makes them suitable for different tasks or living arrangements.

Grooming Needs: A Doberman Pinscher’s coat is shorter, so grooming requirements will be less than those needed by a German shepherd, whose fur is longer.

Health Concerns: Compared to GSDs, Doobies may experience fewer issues with hip dysplasia and elbow diseases. Both breeds can suffer from health problems, but this happens more often in one breed than the other.

Nature: They’re described as “velcro-like” because they tend to stick closely with their owners whenever possible.

Barking Level: In certain living situations, such as apartments where noise should be minimal, barky GSDs would not fit into such homes, while quieter dobes would suit perfectly well without disturbing anyone else’s peace during quiet hours.

Looks/Sleekness Factor: Some individuals prefer muscularly built dogs like dobes instead of fluffy ones like German Shepherd dogs. German Shepherd dogs shed everywhere around the house all day long. Knowing somebody loves them unconditionally, even if nobody else does, makes them feel good about themselves ever again until death separates them apart. Amen!

Heat Tolerance Levels (for Southern states): Short hair means coolness during summer when temperatures rise above 80 degrees Fahrenheit, but it still warms up enough not to freeze winter nights. Either way, either direction works out best all year round here down south, where the sun shines nonstop day year-round, and long-term life expectancy wise, too!!!

What is the maximum front-end and back end debt-to-income ratios on conventional loans?

WHAT IF YOUR CREDIT REPORT CHANGES DURING THE MORTGAGE APPROVAL PROCESS? WHAT HAPPENS IF YOUR CREDIT SCORES GOES DOWN OR UP DURING THE MORTGAGE PROCESS? AM I STILL QUALIFIED FOR A MORTGAGE IF MY CREDIT GOES DOWN DURING THE MORTGAGE PROCESS?

What factors determine a REFINANCE mortgage rate other than an individual’s credit score?

What are compensating factors and the importance of compensating factors in mortage lending?

What is the debt income ratio requirement for FHA loan and conventional loan?

What constitutes a mortgage loan application? How does the mortgage loan application work? What is an “application” that triggers an obligation to provide a Loan Estimate? What is the loan estimate? What are the rules and regulations on the loan estimate and how does the process work?

What do we need when refinancing our home that is currently on a land contract?

How do you get a bankruptcy trustee approval to get approved for a mortgage during the Chapter 13 Bankruptcy. What is involved in getting a court trustee’s written approval letter for Chapter 13?

What is credit supplement for? When does a mortgage client need to do a credit supplement during the mortgage loan process?

What do you do if you didn’t know you had a judgment against you and is 11 years old and in the middle of a USDA loan?

Can you do an FHA streamline refinance multiple times? What if you do a FHA streamline refinance now at 6.0% from the current mortgage rate you have at 7.25% and rates drop to 5.0%. Can you do another FHA streamline refinance over and over again?

Considerations For Refinancing:

Good Timing: Given recent drops in mortgage rates, now may be ideal. Therefore, FHA/VA Streamline Refinances could also apply here since they require little paperwork and no appraisal, making them easy options for homeowners wishing for fast rate reductions.

Possibility Of Multiple Refinances Over Time If Rates Keep Falling: Generally speaking, homeowners should expect lenders to allow multiple refinancings when lower mortgage rates continue falling, so long as each time meets lender standards and fees payable upon every occasion if necessary.

Current Mortgage Rates:

• 30-Year Fixed 6.49%.
• FHA 30-Year Fixed 6.18%.
• VA 30-Year Fixed 5.91%.
• 15-year fixed rate=5.58%​.

These changes are meant to increase transparency and fairness during real estate transactions. Home buyers need to understand these new laws and their corresponding agents for smooth operation within the industry towards compliance issues avoidance.

What is occupancy fraud. How is occupancy fraud determined. Is occupancy fraud a serious crime? Would a mortgage lender send an investigator to check on the borrower’s occupancy type? How do lenders verify owner occupancy. What happens if the borrower committed occupancy fraud, what are the consequences. Who gets in trouble if there was occupancy fraud committed. Who investigates occupancy fraud.

What are judgments? What are deficiency judgments? What are examples of judgments? Can you please run a few case scenarios how a derogatory or delinquent account turns in a judgment? Can I get a mortgage loan with a judgment? How do I clear up a judgment? Can I vacate a judgment? What are considered judgments? What are the four types of judgments? What happens if a defendant does not pay a judgment? What happens after a judgment is entered against you. What does a judgment for the defendant mean? What is a default judgment? How long is the statute of limitation on judgments? How can you resolve a judgment and get on the road to rebuilding your credit.

What is delayed financing and how does delayed financing work? What are the disadvantages of delayed financing? What is the 90 day rule for delayed financing. What is the difference between delayed financing versus cash-out refinancing. What are the benefits for delayed financing. What type of mortgage loan program does delayed financing apply to? Does Texas have special rules and guidelines on delayed financing?

What is considered payment shock by mortgage lenders. How do lenders calculate payment shock. What is considered low payment shock. How is low payment shock considered a compensating factor. Can you give a few case scenarios of payment shock.

How is the Pennsylvania housing market forecast? How much is an average price of a house in Pennsylvania? What cities in Pennsylvania have the best bang for the buck on homes and the best school districts. How is home prices in Pennsylvania compared to the rest of the nation. How is the economy and job market in Pennsylvania. How is the cost of living and taxes in the state of Pennsylvania. Is Pennsylvania a good place to raise a family. Is is smart to relocate to Pennsylvania from other states? What states are people moving from to Pennsylvania. What are the best cities with the lowest crime rate and affordable housing in PA a homebuyer from out of state should look at in Pennsylvania.

What are the mandatory waiting period after bankruptcy and foreclosure on FHA, VA, USDA, Conventional, Non-QM, and Jumbo Loans? What are the waiting period after the various types of bankruptcy (Chapter 7, 11, 12, and 13) to qualify for a mortgage loan for primary homes, second homes, investment property, and commercial loans. What are the waiting period after the various types of housing event such as foreclosure, deed-in-lieu of foreclosure, short sale to qualify for a mortgage loan for primary homes, second homes, investment property, and commercial loans.

Is it possible to become a first-time homebuyer in California? What is it with California that people want to live in that state? California has high crime rates, double the home prices than other states, high cost of living, high cost of goods and services, high regulations, and high unemployment rates. What makes people want to stay in California?

What is the difference between mortgag bankers, correspondent lenders, mini-correspondent lenders, mortgage brokers, retail loan officers, and wholesale mortgage lenders?

Illinois residents have been moving to Indiana in increasing numbers in recent years, with an estimated 31,015 moving in 2022. Some reasons for this include low cost of living, affordable housing, low taxes, friendly people, welcoming new businesses with tax incentives, proximities to large cities, great schools, and great healthcare. Cost of living. Indiana is considered one of the most affordable states in the US, with U.S. News ranking it #2 in overall affordability and #3 in housing affordability. For example, moving from Indianapolis to Chicago could increase the cost of living by more than 20% . Job opportunities: Indiana’s manufacturing and agriculture industries offer many job opportunities. Schools: Indiana’s Four Star School program ranks schools for excellence and accountability. Proximity to cities: Indiana is close to major cities like Chicago and Louisville, which offer access to entertainment, culture, and more jobs. Popular cities throughout the state of indiana: Some Indiana cities that are popular with Illinois residents include Indianapolis and Fort Wayne. Indianapolis offers a low cost of living, walkable downtown, and attractions, while Fort Wayne has affordable cost of living, family-friendly neighborhoods, and good schools.

https://gustancho.com/home-loan-with-bad-credit-in-indiana/

• This discussion was modified 6 months, 4 weeks ago by  Connie. Reason: Spelling error

gustancho.com

Home Loan With Bad Credit In Indiana With No Overlays

Gustan Cho Associates is a mortgage company with no overlays specializing in Home Loan With Bad Credit In Indiana and dozens other states

A fellow member of GCA FORUMS directed me to ask GCA FORUMS members about generating my own organic traffic for Leads. I have been shit out of luck buying leads.

Becoming an independent mortgage broker and operating under a “doing business as” (DBA) name can offer you flexibility, control, and potentially higher earnings. Let’s break down the steps involved:

1. Get Licensed: First, you’ll need to obtain the necessary license. Becoming a mortgage broker typically involves completing 20 hours of pre-licensure education courses and passing the NMLS mortgage license exam. State-specific requirements may apply.

2. Education and License: Start by getting licensed as a loan officer. This process includes coursework, test preparation, and an exam. With the right guidance and resources, you can achieve licensure in as little as 3 to 4 weeks.

3. Choose Your Business Structure: Decide whether you want to operate as an independent mortgage broker or as a DBA of a larger mortgage lender. If you choose the latter, you’ll need to register your DBA name. The process is usually straightforward and involves filing paperwork and running an ad in a local paper. Filing fees vary by state.

4. Build Relationships: As an independent broker, you’ll have the freedom to work with multiple lenders. Building strong relationships with these lenders is crucial. Network, attend industry events, and collaborate with other professionals to expand your connections.

5. Market Your Services: Develop a marketing strategy to attract clients. Utilize online platforms, social media, and local advertising to promote your services. Highlight the benefits of working with an independent broker, such as access to a broader range of loan products and more competitive rates.

6. Set Up Your Business: Establish your business by creating a business plan, setting up an office (physical or remote), and organizing your finances. Consider hiring support staff if needed.

7. Commissions and Fees: As a mortgage broker, you can earn commissions and fees from both borrowers and lenders. Lender-paid commission (LPC) and borrower-paid commission (BPC) are two common models. LPC is paid by the lender, while BPC is paid by the borrower in the form of an origination fee. Having pricing flexibility allows you to be competitive and maintain credibility with referral partners and clients.

NEXA Mortgage, NMLS 1660690, is the largest mortgage broker in the United States with 2,500 licensed mortgage loan originators and a team of 5,000 support and operations personnel, third-party vendors, and upper level management executives.

Remember that each step requires careful consideration and planning. Whether you choose to operate independently or as a DBA, focus on providing excellent service to your clients and building a successful mortgage brokerage business. Good luck!

https://gustancho.com/starting-mortgage-net-branch/

NEXA Mortgage has a strong business platform in joint venturing new dba independent mortgage brokers and teams of loan officers where benefiting the independent mortgage brokerage owner and its mortgage loan officers and support staff. The independent mortgage broker owner keeps everything the same, especially the control of owning and operating its own independent mortgage brokerage company and using the independent mortgage broker’s trade name as a dba of NEXA Mortgage. Gustan Cho Associates is a dba of NEXA Mortgage (NMLS 2315275) licensed in 48 states including Washington, DC, Puerto Rico, and the U.S. Virgin Islands (Massachusetts and New York is pending).

If you are currently a mortgage broker company, how can you become a mini-correspondent lender at the same time? Can you become a mortgage broker and a correspondent lender at the time. A wholesale mortgage account executive said it easy and no problem. Just like another professional opinion.

Gustan told me last night that wholesale mortgage lenders like The Lender offers free trimerger hard credit pulls which costs $77.00 either to the borrower or the Loan Officer. Where can I get more detail on this on how it works.

Have you ever thought moving to Florida is a fantasy come true? Many of you remember when someone mentions FLORIDA, the Sunshine State comes to mind. Disney World, Epcot Center, beautiful beaches, sun tans, beautiful women, great weather 12 months of the year, boating, jet skiing, outdoor kitchens, great restaurants, great job opportunities, and opportunities. So have you still eyeing and dreaming moving to Florida and buying your dream home? Are you planning on selling your home and buying your forever home in Florida? Are you planning on quitting your job in your current state and finding a new career in Florida?

Whether buying a house in Florida is a great investment depends on various factors such as the local real estate market conditions, your financial situation, your investment goals, and your risk tolerance. Here are some considerations to keep in mind:

1. Market Trends: Research the current trends in the Florida real estate market. Look at factors such as home prices, inventory levels, and demand. Historically, Florida has been known for its strong real estate market due to factors like warm weather, tourism, and population growth.

2. Location: Location is crucial in real estate. Certain areas in Florida may have higher demand and potential for appreciation compared to others. Consider factors such as proximity to amenities, schools, transportation, and job opportunities.

3. Rental Market: If you’re considering buying a property for investment purposes, evaluate the rental market in the area. Florida has a significant tourist industry, so vacation rentals might be an option in certain areas. Additionally, long-term rental demand can vary depending on the local economy and job market.

4. Financial Considerations: Evaluate your financial situation and whether buying a house aligns with your long-term financial goals. Consider factors such as your down payment, mortgage rates, property taxes, insurance costs, and potential rental income if you plan to rent out the property.

5. Maintenance and Management: Owning a property entails ongoing maintenance and management responsibilities. Factor in the costs associated with property upkeep, repairs, and potential property management fees if you don’t plan to manage the property yourself.

6. Risk Factors: Real estate investments carry risks, including market fluctuations, economic downturns, natural disasters, and regulatory changes. Consider your risk tolerance and diversify your investment portfolio accordingly.

7. Consult Professionals: It’s advisable to consult with real estate agents, financial advisors, and legal experts who are familiar with the Florida market and can provide personalized advice based on your specific situation.

While Florida real estate can be a great investment under the right circumstances, it’s essential to conduct thorough research and consider various factors before making a decision. The cost of living in Florida can vary depending on the city or region you’re considering. Generally, Florida is known for having a relatively affordable cost of living compared to some other states in the U.S. However, specific factors such as housing, healthcare, transportation, and groceries can significantly impact the overall cost.

Here are some general considerations:

1. Housing: Housing costs can vary greatly depending on whether you’re in a major city like Miami or Orlando versus a smaller town. In cities like Miami or Tampa, housing costs tend to be higher compared to smaller towns or rural areas.

2. Utilities: The cost of utilities such as electricity, water, and heating/cooling can also vary depending on the location and the size of the property.

3. Transportation: Florida is a state where having a car is often necessary due to limited public transportation options in many areas. The cost of owning a car, including gas, insurance, and maintenance, should be factored into your budget.

4. Groceries and Dining: The cost of groceries and dining out can vary depending on your location and lifestyle preferences.

5. Healthcare: Healthcare costs can vary depending on factors such as insurance coverage, healthcare providers, and specific medical needs.

6. Taxes: Florida is known for not having a state income tax, which can be advantageous for residents. However, there are other taxes to consider such as sales tax and property tax.

It’s important to research and consider these factors based on your specific situation and the location within Florida where you plan to live. Additionally, using cost of living calculators available online can help you estimate your expenses more accurately based on your lifestyle and preferences.

Florida offers a diverse range of career opportunities across various industries due to its thriving economy, tourism, technology sectors, and favorable business climate. Some prominent industries and career opportunities in Florida include:

1. Tourism and Hospitality: With famous attractions like Walt Disney World, Universal Studios, and beautiful beaches, Florida has a vibrant tourism industry offering jobs in hospitality, hotel management, entertainment, and event planning.

2. Healthcare: Florida has a large population of retirees and tourists, driving demand for healthcare services. Opportunities exist for healthcare professionals such as nurses, physicians, medical assistants, and healthcare administrators.

3. Technology and Aerospace: Florida is home to several technology companies, particularly in aerospace and aviation. With NASA’s Kennedy Space Center, Cape Canaveral Space Force Station, and a growing tech hub in cities like Miami and Orlando, there are opportunities in aerospace engineering, software development, cybersecurity, and data analytics.

4. Finance and Banking: Major financial institutions have a presence in Florida, particularly in cities like Miami and Tampa. Career opportunities exist in banking, investment management, financial analysis, and accounting.

5. Real Estate: Florida’s growing population and attractive climate make it a hot spot for real estate development. Careers in real estate include real estate agents, property management, appraisers, and construction management.

6. Education: With numerous universities, colleges, and public school districts, there are opportunities in teaching, administration, curriculum development, and educational technology.

7. Agribusiness: Florida is a leading producer of citrus fruits, vegetables, and other agricultural products. Career opportunities include farming, agricultural management, food processing, and agricultural research.

8. Maritime and Logistics: With extensive coastline and ports, Florida is a hub for maritime trade and logistics. Career opportunities include port management, logistics coordination, shipping, and freight forwarding.

9. Creative Industries: Florida has a burgeoning arts and entertainment scene, particularly in cities like Miami, Orlando, and Tampa. Opportunities exist in film production, advertising, graphic design, and performing arts.

10. Environmental and Renewable Energy: Given its unique ecosystem and concerns about climate change, there are opportunities in environmental science, conservation, renewable energy, and sustainability initiatives.

These are just a few examples, and the job market in Florida is continually evolving. The specific career opportunities available will depend on factors such as location, qualifications, experience, and industry trends. Networking, researching companies, and staying updated on job listings are essential for finding suitable career opportunities in Florida.

The Florida housing market has capped at its peak in 2022. If you are thinking about moving to Florida, please think again.

https://www.youtube.com/watch?v=9ONQo6BmfvY

The United States government confiscated gold and silver during certain periods in its history for various reasons, but the most notable event regarding gold confiscation was during the Great Depression in 1933.

In response to the economic turmoil of the Great Depression, President Franklin D. Roosevelt signed Executive Order 6102 on April 5, 1933. This order effectively prohibited the hoarding of gold coins, gold bullion, and gold certificates within the continental United States. Individuals were required to turn in their gold to the Federal Reserve in exchange for paper currency. The government set the price of gold at $20.67 per ounce and subsequently raised it to $35 per ounce, effectively devaluing the dollar against gold.

The rationale behind this action was to stabilize the economy and increase the government’s ability to manipulate monetary policy. By removing gold from circulation and pegging the value of the dollar to gold, the government sought to combat deflation and stimulate economic recovery.

As for silver, there wasn’t a widespread confiscation like with gold. However, the U.S. government did enact legislation in the 1930s that significantly reduced the amount of silver in circulation. The Silver Purchase Act of 1934 authorized the U.S. Treasury to buy silver bullion to increase the price of silver, which had been in a downward spiral. This act effectively removed large quantities of silver from circulation as it was melted down into bars and stored in government vaults. Later, during World War II, there were further restrictions on the use of silver due to its strategic importance for the war effort.

In summary, the confiscation of gold and reduction of silver in circulation during the Great Depression era were measures taken by the U.S. government to stabilize the economy, manage monetary policy, and combat the effects of the economic downturn.

Gold and silver confiscation typically refers to government actions where authorities demand citizens turn in their gold and/or silver holdings. The most notable historical instance of this was in the United States during the 1930s. Here are some of the main reasons why such confiscations have occurred:

1. Economic Stability: Governments may confiscate gold and silver to stabilize the economy during times of crisis. For example, during the Great Depression in the 1930s, the US government feared hoarding of gold was exacerbating deflationary pressures, so it sought to increase the money supply and gain control over monetary policy.

2. Currency Stability: Gold and silver have historically been used as forms of currency or backing for currency. Confiscation may occur when governments want to maintain control over their currency and prevent alternatives from competing with or undermining it.

3. War Financing: During times of war, governments may confiscate precious metals to finance military efforts. By forcing citizens to exchange their gold and silver for currency or government bonds, authorities can raise funds to support war efforts.

4. Control Over Monetary Policy: Governments may confiscate gold and silver to have greater control over monetary policy. By centralizing gold reserves, authorities can influence the money supply, interest rates, and inflation levels.

5. Political Control: Confiscation can also be a tool for governments to exert political control over their citizens. By seizing assets such as gold and silver, authorities may limit the economic independence of individuals or groups deemed as threats to the government’s authority.

6. Crisis Management: During financial crises or periods of economic uncertainty, governments may resort to confiscation as a means of crisis management. By consolidating precious metal reserves, authorities may attempt to stabilize markets and restore investor confidence.

It’s important to note that while gold confiscation by governments has occurred historically, it’s relatively rare and often met with controversy and resistance. Additionally, laws and regulations regarding the ownership and trading of gold and silver vary from country to country, and confiscation is not a universal practice.

https://www.youtube.com/watch?v=BZovZwwzuVs

Forums are powerful for you to generate organic traffic which in turn get call to action and get those organic traffic converted to customer leads. Watch this video. We will cover more on the power of FORUMS to succeed and using FORUMS TO BE YOUR MARKETING PLATFORM as a loan officer or real estate agents. Here are some effective strategies for using online forums to generate organic traffic and leads:

1. Identify Relevant Forums Research and join forums where your target audience is active. Look for large, authoritative forums in your industry or niche.
2. Create a Value-Driven Profile Set up a complete profile with your name, photo and a compelling bio highlighting your expertise. This builds credibility.
3. Engage Consistently Don’t just drop links – participate actively by answering questions, offering advice and creating high-quality content contributions. Build relationships.
4. Add a Signature Link Most forums allow signature links back to your site or landing page. Keep it simple, compelling and relevant.
5. Share Original Content Post original data, research, case studies or unique insights that provide massive value. This exhibits your authority.
6. Seed Strategic Questions Occasionally ask questions related to your products/services to organically promote awareness and sharing of solutions.
7. Offer Consultation/Support Provide free consultation or support to members having relevant problems/needs you can help with. Share insights then suggest exploring further.
8. Give Away Premium Content Like guides, checklists or templates related to your expertise. Incentivize with exclusive subscriber content.
9. Feature Customer Success Share customer success stories, reviews or use cases relevant to the forum’s interests.
10. Host Contests/Giveaways Run contests or giveaways forum members can enter by visiting your site and completing an action like subscribing.

The key is to focus on providing immense value first. Build authority, rapport and trust – then you can steadily convert interested members into leads or traffic.

https://youtu.be/rHokl4skVjY?si=hdeLj_Ja1gJ1q3_a

• This discussion was modified 9 months, 3 weeks ago by  Gustan Cho.

I used to know this answer but what are the HUD guidelines and Fannie Mae Guidelines on qualifying for a mortgage with a federal tax lien? This would be qualifying for an FHA loan or Conventional loan with federal tax liens.