Job Posting: Mortgage Loan Processor

Feb08
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Michael S. Rosenbaum San Diego Mortgage Loan OriginatorSeeking a seasoned Mortgage Loan Processor, a full time position working in our East Village/Downtown San Diego office.  The position is full time,  with salary, bonus, vacation and benefits.

Primary responsibility is to process loan applications in a proactive and timely manner from receipt into processing status through funding or final disposition.   This includes gathering needed and complete   information and documentation from consumers, loan officers and third parties so that when loan is submitted to underwriting the loan is approved with minimal conditions.   Individual in this position will be responsible to effectively manage a pipeline of 30 loans and close a minimum of 10 loans per month.   This position is responsible to partner with 4 to 8 loan officers and collaborate with underwriters and closers to originate process and close quality loans in a timely manner.  Individual in this position utilizes business and collaborative skills to successfully motivate consumers, loan officers and third parties to provide necessary documentation timely to close quality loans.

This person exhibits desirable and professional behavior and teamwork in accomplishing individual, team, division and company goals. This position does not have credit approval signing authority.  However the position has responsibility to sign off certain tasks and conditions.

Please submit resume, cover letter etc. to: cvinecombe@firstcal.net

 

Rates Drop Back to Record Lows

Sep24
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Mortgage rates have returned to the record lows, which is allowing more individuals to afford to buy a home, according to Freddie Mac’s Primary Mortgage Market Survey. The survey results indicated that the average 30-year fixed rate mortgage dropped to the record low at 3.49 percent  and the 15-year fixed mortgage reached a record low at 2.77 percent.

According to Frank Nothaft, vice president and chief economist at Freddie Mac stated that “Following the Federal Reserve’s announcement of a new bond purchase plan, yields on mortgage-backed securities fell bringing average fixed mortgage rates to their all-time record lows which should aid in the ongoing housing recovery. New construction on one-family homes rebounded in August, rising by 5.5 percent to the fastest pace since April 2010. In addition, existing home sales increased by 7.8 percent in August to its strongest pace since May 2010.”

This is great news for anyone looking to lock in a good mortgage rate. Low rates and affordable home prices are making it much easier to purchase a new home. Get your personal quote here.

Rates are based on Freddie Mac’s Primary Mortgage Market Survey. About 125 lenders across the nation are surveyed weekly on Monday through Wednesday and the average rates are posted on Thursday. Actual rates may vary based on region, credit status and other variables. Click here to prequalify and get your personal rate quote.

30-Yr FRM

15-Yr FRM

5/1-Yr ARM

1-Yr ARM

Average Rates

3.49 %

2.77 %

2.76 %

2.61 %

Fees & Points

0.6

0.6

0.6

0.4

Margin

N/A

N/A

2.75

2.76

HARP Refinances Surging – Are You Eligible?

Jun04
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The Federal Housing Finance Agency announced on Friday that HARP Refinances have surged in the first quarter, helping more underwater borrowers. This is great news for everyone, especially with rates as low as they have been this past week.

We are swimming in refi’s right now and due to HARP 2.0 and the new rules, more people are eligible than ever before. A lot of condo owners that I couldn’t help last year are now eligible to refinance their loans, especially those that are upside down. For example, I worked with a condo owner that was 75% upside down and we were able to refinance their loan.

So, bottom line – it’s worth talking again. These rule changes are making a lot of “no’s” into “yes’s.” With so many people taking advantage of these low rates, expect a little longer for the transaction to take place – it used to be around 30 days, now be ready for 45 days, but as always, we deliver.

Hope and HARP 2.0

Nov06
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News of President Obama’s changes to the Home Affordable Refinance Program (newly dubbed HARP 2.0) sent my phones ringing off the hook with renewed hope and interest. As with all things in the mortgage industry, we are quick to take away but slow to roll out new product. Once fully approved, expect any new rules and programs to be slow to roll out.

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