u/loan_ranger8888

My nephew would like to do a FBR via his Irish born and raised Grandmother, but his USA born mother’s birth certificate is not available due apparently a 1940s fire in NYC where the ordinals were kept. His Mom does have all her original USA passports dating back to 16yo. Should he just include that passport with a letter of explanation? Thank you.

When it references 4 color photos, 2 of which to be witnessed- what does that mean exactly? The witnesses to sign the back of each photo?

https://preview.redd.it/ll9gvn02iefh1.jpg?width=2550&format=pjpg&auto=webp&s=e00faa9971afdb7bf78bf00130d56a1b7aab53de

This question is directed to broker shop loan officers. When a loan has funded and broker comp received what is your responsibility for the file being archived? Do you perform a compliance check? Is there a digital format or organization flow it must stored in preparation for an eventual state audit?

If you’re a first time buyer in most of the DMV earning base salary < 196,920 you could be eligible for 6.25% 30 fixed 0 points today, 7/21. Get a quote based on your specific profile.

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No relief for buyers!

No relief for homebuyers! 😩

Recent changes in real estate regulations have made the topic of commissions confusing for many home buyers. Let's clarify these updates in simple terms:

1.  Commission Disclosures: Prior to August 2024, the commission offered by a seller was typically disclosed upfront in the property listing. Now, this amount is negotiable and is not finalized until a contract is ratified.

2.  Buyer's Agreements: Your realtor will ask you to sign an agreement specifying a fee for their services, typically 2.5%–3% of the purchase price. While this may seem scary, you can ask the seller to cover this fee as part of your purchase contract. If they decline, you have the option to move on to another property. You remain in control of who will pay the commission.

3.  Negotiation Process: If the seller agrees to cover the fee, no further action is needed. If the seller counters with a lower amount, you can renegotiate your agreement with your agent or find a compromise. For example, if your agreement specifies a 3% commission but the seller only offers 2.5%, you then request that your agent modify your agreement to match that 2.5%.

4.  Summary: Although you will sign an agreement stating you are responsible for your realtor's compensation, you can negotiate for the seller to cover this fee during the offer process. If the seller is unwilling to provide the requested amount, you may terminate the contract. You are not required to pay any commission that does not fit your budget.

Follow rate rates at r/MortgageRatesDMV

Anyone know current status of St Paddy’s Day reflecting pool? Talking heads on tv saying it’s crystal clear.

r/MortgageRatesDMV

www.ratesmartmortgage.com

My application of 2.5 months was just kicked back because they could not contact my witness. I used a notary at Bank of America and included her business card, so I thought I was solid on that.

I have to fill out a new ID verification from. My question is do you know if we can use the witness cell phone or does it have to be answered as XXX business? It would be very hard to immediately have a doctor, police officer, or teacher be available. Do they allow a call back?

I’m not on any adhd medication, but I know for sure i need it. Is it easier to be prescribed Strattera than the other “controlled” drugs. I have a life time of dealing with insomnia, and I read Strattera could have less chance of making this worse. Thanks!

Base income limit $131,280 in most of DMV. You do not need to be a first time buyer! Read more at r/mortgageratesDMV

What happened to the good old days when people only had one bank? Don’t move your money from one account to another! Don’t consolidate your funds to one account! Just leave everything as is until your loan officer gives you the all clear. Moving money around inside 60 days of a closing will require a trail to each large deposit exceeding 50% of your monthly income. Save yourself a ton of documentation- don’t do it.