Mortgage Loan Officer Gustan Cho
Mortgage Loan OfficerForum Replies Created
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Rent verification is normally required on manual underwriting FHA and VA files. However, if you cannot provide proof of rent, just write a letter of explanation stating that you live with your family to save money to buy a house. Rent verification is great and can be a strong compensating factor if the rental verification has low payment shock.
https://gustancho.com/when-is-rental-verification-required/
gustancho.com
When Is Rental Verification Required By Mortgage Lenders
When is rental verification required by mortgage lenders is when the file is a FHA or VA manual underwrite or if the lender has overlays on VOR.
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Should People be allowed to stay on Section 8 forever?
Will there be major time limits to Section 8 Housing? Let’s discuss
BIG CHANGES Coming to Section 8? Could HUD Be Cutting Housing Assistance to Just 2 Years?!If you’re relying on Section 8 housing assistance, this potential HUD policy change could put your home at risk. Reports suggest that a 2-year time limit for Section 8 recipients could be on the table, and thousands of people might lose their vouchers if this goes into effect.
In this video, we’ll break down:
🔴 What this new rule could mean for current Section 8 tenants
⚠️ Who is most at risk of losing their housing assistance
💰 How this could impact your rent & housing security
✅ Steps you need to take NOW to prepare for possible changes‼️ Don’t wait until it’s too late—watch this video to find out what’s REALLY happening!
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The content provided in this video and on this channel is for informational and entertainment purposes only. The views, opinions, and strategies shared are based on personal insights and general financial knowledge. Please be aware that the information presented should not be considered as financidvice, recommendations, or endorsements.
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Let’s discuss the 2025 housing market, why buyers are gaining the upper hand, and where prices are falling – Thanks for watching! Add me on Instagram: GPStephan
If you’re interested in building a California / West Coast ADU or Guest House – Get $1000 Off Your Project Here: https://realmhome.com/…GET MY WEEKLY EMAIL MARKET RECAP NEWSLETTER: http://grahamstephan.c…THE FROZEN HOUSING MARKET (2020–2023)
Inventory and sales hit historic lows due to near-zero mortgage rates.30-year fixed loans dropped below 3%, some as low as 2.6%.Demand surged, pushing home prices to record highs.As rates rose past 7% in 2023 (highest since pre-2008), buyer affordability plummeted.Despite falling demand, prices stayed high due to sellers clinging to low-rate mortgages (“golden handcuffs”).THE HOUSING STANDOFF (2024)Buyers waited for a correction, sellers refused to list.Result: prices stayed flat or even rose in supply-constrained areas.Inventory increased significantly in some metros (e.g., Tampa, North Port).Others, like NYC, Chicago, and Cleveland, still saw price growth (6–8%).THE HOUSING STAGNATION (2025)Price growth slowed to just 3–4% annually.Spring 2025 marked the 11th straight month of slowing gains.March price growth neared 0%—a sign that buyers may regain leverage.Mortgage Rates: Hovering at ~7%, doubling monthly payments vs. 2020.Demand: Pending sales down 1.7% YoY; cancellations rising to 14%.Inventory: Listings up nearly 30% YoY—over 1M homes now for sale.Why Inventory Is Rising: Life events force moves despite low rates.Homeowners sitting on large equity cushions.Fears of declining prices prompt preemptive selling.Investors shifting capital elsewhere.Current Market Conditions:Homes now sit ~50 days on market (vs. 33 in 2021).Only 28% of homes sell above list (was 50%+ in 2021).31 of the top 50 metros are now buyer’s markets.Most extreme example: Miami — 3 sellers for every 1 buyer.THE CONDO COLLAPSECondos now have 83% more listings than offers.Condo prices up only 0.4% YoY vs. 1.5% for single-family homes.Key issues: rising HOA fees, insurance costs, and investor sell-offs.Why Condos Underperform:HOA fees up 32% (2005–2015), higher maintenance, and insurance costs.Prices drop faster during downturns.Stricter lending rules due to perceived risk.More usage restrictions and less flexibility vs. single-family homes.
THE HARDEST HIT MARKETS:
National median prices up only 1.9%—below inflation, meaning real decline.Biggest YoY drops: Oakland (-4.9%), Dallas (-4.5%), Jacksonville (-3%), Austin (-2.5%), Seattle (-1.5%), Denver (-1%).From 2022 peaks: Austin (-21%), Oakland (-19%), SF & New Orleans also down double digits.Median list price up only 0.2% YoY—sellers are no longer pushing prices.Home Builders’ Strategy:Instead of lowering prices, builders “buy down” buyers’ mortgage rates.This keeps sale prices high while giving buyers lower monthly payments.Helps preserve property values without visible price cuts.MY THOUGHTS: If you’re in the market for a home, this might be the first time since 2020 where you can afford to be selective, you can chose to negotiate, or you could walk away to try to find a better deal – without worrying about the market marching higher.
For everyone else who’s simply watching home prices out of curiosity: honestly, you probably won’t feel much of an impact, and any headline drops in price seem to be moderate, at best (it’s not like national home prices will dip 10-20% anytime soon outside of a few localized markets). instead, we might see more of a flatlining of prices for the near future – or, some very modest gains – if anything.
That’s why – I think, if you NEED to buy a home, find one that fits your budget, on a fixed rate loan that you can afford, and only on something that you intend on keeping for at least 7-10 years – IF you can’t rent an identical home for significantly cheaper. -
President Donald Trump has signed a new series of executive orders focused on immigration policy, economic growth, and national security.
The White House says these measures aim to streamline enforcement, tighten border control, and boost American industries. Critics, however, are warning of legal challenges and civil liberties concerns.
Stay tuned for the latest analysis and political fallout.
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A husband who has permanent resident status can pair up with a wife on a category A-10 work permit and still apply for an FHA mortgage together.
- The Federal Housing Administration lets lawful permanent residents step into its loan program as though they had full U.S. citizenship.
- The man will probably show his green card Form I-551 to prove his status, and that is usually all the lender needs.
- If his credit is decent, his income holds up, and his debt picture stays within FHA lines, he may become the primary borrower.
- The wife’s A-10 work permit, formally known as an Employment Authorization Document (EAD), isn’t an exception.
- It often appears with folks under Temporary Protected Status (TPS).
- FHA rules let non-permanent resident aliens access its loan program so long as they cross a few clear hurdles.
- First, the borrower must maintain a valid EAD that permits U.S. employment.
- Second, there has to be a real promise to treat the new house as a main address.
- Of course, all the usual FHA checks on income, credit, and debt ratios still apply to someone who isn’t a citizen or green card holder.
- Oddly enough, the law never insists that a co-borrower be a permanent resident.
- The key piece is that work card.
To keep the paper trail tidy, the wife drops the live A-10, a Social Security number, and proof that she plans to stay put in the new digs. Suppose those documents stack upright, and the couple still hits the income and credit benchmarks. In that case, they step into the FHA pipeline like any other husband-and-wife team.
Yes, a husband with a Green Card and a wife holding an A-10 work permit can still land an FHA mortgage together. Both borrowers must clear the usual hurdles: decent credit, steady income, and plans to live in the home full-time.
I can create a quick, plain English note for your clients so they can see exactly how this works. Just let me know, and I’ll send it to you immediately!
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Trump & the FED Just Made a MASSIVE ANNOUNCEMENT for Millions of Americans.
Its Alex Carlucci of Gustan Cho Associates President Donald Trump and Fed President Jerome Powell’s Decision to cut interest rates as well as Trump’s new trade agreement with China and how tariffs will be affected.
New videos come out every day on It’s Alex Carlucci YouTube Channel at 6pm EST! We cover everything happening on a daily basis, the stock market, finance, business,
https://www.youtube.com/live/l5uy4xVnsMc?si=lZav_67Pik44Pw0g
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Danielle Diamartino Booth isn’t one to sugarcoat her advice to Jerome Powell.
- In a chat with financial reporter Daniella Cambone, she flat-out says the Fed chair ought to yank on his big-boy pants, look up, and stop treating Inflation like Earth’s biggest fire.
- True price hikes are inching down.
- Rent checks prove it, yet layoffs keep rolling in and shy away from the payroll vanishing act.
- Company after company whispers or flat-out shouts that they’ve lost pricing muscle.
- This is because American shoppers can’t stretch their wallets.
- Powell pressed the booth about one loose-chip matter:
- Trump’s tax blueprint, and she answered with musk-ish urgency.
- She insists that the possible cuts won’t boost growth; they’ll bulk up a deficit that was supposed to slim down by 2025, padding tomorrow’s balance sheets while sparing today’s nerves.
Would you happen to need some quick media kit goodies? No problem. I can send you a tiny wheelhouse of ready-to-run content.
SEO-Friendly TitleDanielle DiMartino Booth: Fed Must Shift Focus to Jobs, Not Inflation
Social Media Blurb
- Economist Danielle DiMartino Booth says it’s time for Jerome Powell to put on his big boy pants and say Inflation is not the bigger problem.
- In a wide-ranging interview, she warns that the central bank should watch jobs, not charts, as price pressures cool.
- She also flags former President Trump’s tax plan as a likely budget buster.
Quote Pull
- You’re not stimulating the U.S. economy.
- You’re simply preventing a negative shock to the system.
Danielle DiMartino Booth
Pick a platform article, YouTube description, GCA Mortgage Forums, LinkedIn, or any other platform, and the tone or length to fit. Could you say the word?
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Trump is swearing that the Big Beautiful Bill will continue Trump’s tax cuts, and taxpayers will be paying a 67% tax increase without the passage of the Big Beautiful Bill. Is this true or is it political bullshit? Maybe Elon Musk, Rand Paul, and others are right about the Big Beautiful Bill. Maybe it is a trick and another Obamacare? Can you please go over a few case scenarios so I can hold a grasp on this confusing bill and see if I can fully understand. How about a W2 wage earner who is a married couple making a combined income of 170,000, a single W2 wage earner making $100,000, and a mom and pop construction company, and a mom and pop used car auto dealer?
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Who Does the Big Beautiful Bill Help?
- Because money talks, the latest rewrite offers fresh tax breaks and bigger write-offs, mostly for folks with fat paychecks and owners of small and mid-size firms.
- Picture the Salt cap shooting up to $40,000 for couples earning under half a million, plus instant-expensing goodies many enterprises swear by.
Who Is For and Who Is Against The Big Beautiful Bill
- Supporters chant that the package will “jump-start Main Street” and give job creators the oxygen they crave.
- The bright side dims quickly when you flip the page. Medicaid rolls will thin, SNAP cards will stretch a lot less, and the clean-energy perks everyone liked keep getting shaved down.
- Critics warn that pocketbook pain plus a bloated national ledger is the real price tag.
Who Drew Up This Thing?
- One Big Beautiful Bill-More formally, H.R. 1-lands on the radar after Rep. Jodey Arrington (R-TX) hits send on May 20, 2025.
- Heavy hitters like House Budget Committee aides, Speaker Mike Johnson, and a certain ex-president chew on the details before the full House sends it humming out on May 22, 2025.
Why Is Trump Pushing So Hard for Big, Beautiful Bill
- Why is Trump pushing so hard if it doesn’t meaningfully help W-2 wage earners and small businesses?
- Trump and his allies keep saying the new plan talks business.
- They point to chunky new deductions and the chance to write off big purchases in the same year to show that Main Street can get a break.
- The bill also serves up a shiny political trophy, letting the ex-president claim bold results, lock in his star taxes, free up a debt-ceiling fight, and slip past the Senate’s usual roadblocks.
- Critics call it a package that sings to CEOs while the other chorus waits for its mic.
Could the Trump-Musk feud hurt Trump’s presidency?
- Yes, it totally could. When two of the party’s loudest microphones face-off, everyone hears the clash, not the jobs or border talk.
- If Musk keeps taking swings at the tax plan and Trump fires back—or worse, hints at regulators—the MAGA crowd divides, Senate votes waver, and even old-school Wall Street donors might blink.
- That ripple affects slower press coverage, shaky markets, and the sudden math of yes votes turning into no votes.
What came of Musk’s ‘fraud findings’ via DOGE?
- Musk’s Department of Government Efficiency (DOGE) slammed the table with a headline number, saying it chopped off hundreds of billions in taxpayer fraud and waste.
- Independent auditors, newspaper reporters, union reps, and even cranky watchdogs studied the books.
- They reported errors, overstatements, and miscounts of contractors that they couldn’t gloss over.
- A recent Supreme Court decision opened the vaults, allowing DOGE to access Social Security records that were once off-limits.
- The court’s move fixed a transparency gap but sparked new concerns about privacy and freedom-of-information requests.
Update on DOGE
- Vocal politicians, from Elizabeth Warren to Steve Bannon and federal auditors, accuse DOGE of playing favorites with data that seems bent toward boosting Tesla and SpaceX.
- Those accusations have led to lawsuits, dragged hearings into overtime, and left most folks asking who is holding the committee accountable.
- The program still tries to look like an efficiency miracle, but its real clout is hotly debated and far from settled.
Bottom line:
- The Big Beautiful Bill tips the scale toward wealthy gainers and border-security boosters while shaving money from social programs and green projects.
- Trump loves that math for his political playbook, though many low-income Americans see the ax coming.
- Not one to stay quiet, Musk calls the whole thing fiscally reckless and miles away from his promise to tidy up the government.
- Their public skirmish risks ripping apart the fragile political coalition that once seemed locked in, even if it does help Trump rally some of his base.
- Meanwhile, DOGE’s proud fraud headlines have boomeranged into a mix of lawsuits, hearings, and press inquiries that show no signs of letting up.
Hey there! Suppose you’re following the buzz around the One Big Beautiful Bill. In that case, you might be curious about the party-line chatter in the Senate. Word on the Hill is that Republicans and Democrats are swapping hot takes almost hourly. I can break down those reactions for you if that sounds useful.
Meanwhile, the House Oversight Committee is still grilling the folks behind DOGE to determine who gets seniority in tech’s newest pecking order. Speculations vary, but some insiders think new rules could be implemented by summer.
People also want to know how the bill might affect paychecks pocketed by low-income families, middle managers, and small-business owners. Old economic forecasts can get dense, but I can combine the high- and low-ball estimates for a quicker read.
Feel free to holler if you want any of that. I’ll send the details faster than the CBO can run a new model!
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