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Current Info You Need To Know About
General Industry Informational Websites
- www.mortgage-x.com - FANTASTIC SITE - mortgage calculators, index comparison charts, definitions, historical data, interest rate trends... the list goes on. Thank you Paula!
- www.originatortimes.com - wholesale mortgage market information.
- www.mortgagedailynews.com - general mortgage market
information.
- www.mbaa.org - information on US mortgage market.
- www.hsh.com - provides information about all mortgage interest rate indexes & history.
- Google Keyword Alerts - Get Google Alerts: Key Words - real estate, sub prime, mortgages, mortgage delinquencies, mortgage foreclosures, bankruptcy, RESPA, HUD, etc.... and have that news delivered to your email
- Housing Tracker - Real Estate market statistics (including median asking prices and home inventory
numbers) for cities/metros across the United States.
- MyFico.com - IMPORTANT - This is the webpage you want to give to those borrowers who don't want you to pull their credit because they've been told by your competitor it will drop their credit score. Have your borrower click on What to know about "rate shopping."
Guidelines, Lender Look-Up and Compliance
Fannie Mae, Freddie Mac & FHA underwriting guidelines.
www.scotsmanguide.com
- Online Searchable Database of residential and commercial Lenders by category and loan type.
www.docmagic.com
- Compliance issues you need to know about .
General Due Diligence
Used as a guide by underwriters to determine appropriate income ranges based on industry title, job description and geography.
Helps you as mortgage profession to determine if the paycheck stub presented to you is accurate by calculating the appropriate IRS deductions for such things as FICA and Medicaid.
- www.411.com
To verify business address, phone number and currently listed doing business.
- www.manageyourloans.com
Provides the loan originator with all relevant information about the borrower‰s Sallie Mae Student Loans.
Loan Payment, Deferment & Consolidation Status and Loan Payoff.
Borrower must register to view this information.
To confirm or check on a borrower‰s residency status. Use the borrower‰s application number to check the status online.
Property Issues
Free AVM (automated valuation model / online property values) and date for over 70,000,000 homes.
Wow! Another free AVM (automated valuation model / online property values)... but this one allows you to adjust comps (comparable properties) and gives a very detailed breakout. Thank you Kurt!
- http://title.grabois.com/
Title vs Lien Theory States. Provides and easy to read map and gives a brief definition of the differences between Title vs Lien Theory.
- www.realtor.com
To determine current rental rates when listing properties in ‹Schedule of Real Estate Owned".
To determine if your borrowers property is in a flood zone, and if so, what designation has been given for your borrowers property to determine insurance costs. Also gives a glossary of the different designations and what they mean.
A paid subscription AVM (Automated Valuation Model) website offering sophisticated valuation information base on the most recent sale activities. Generally speaking, AVMs are not intended to take the place of a URAR (Uniform Residential Appraisal Report, FNMA) appraisal. However, many lenders use these services in place of an actual appraisal.
State Specific Websites
State Specific Websites:
FL, NM
All States
Free Public Records Search in all 50 states; corporations, divorces, etc.
Florida
Provides access to all county appraisers online in the State of Florida to determine such things as:
a. Property Taxes
- 1. Are they paid.
- 2. How much are they for page 2 on 1003.
- 3. If property being refinanced is homestead (owner occupied).
- 4. Prevent investors from deception.
- 5. Prevent you from losing deal and wasting time.
- 6. How to calculate on a purchase, estimate taxes by using ‹tax calculatorŠ on county websites; and on refi‰s, go to ‹property searchŠ and see taxes paid.
- 7. Who‰s on Title (is it the actual borrower).
- 8. Number of Rooms (will reveal additions and improvementsáask for permits).
- 9. Square Footage-does it fall below the lenders minimum.
- 10.Same as appraisal or need explanation.
Here you can find out:
- How long has the borrower‰s company existed.
- Who are and how many partners there are.
- Is the company legally active?
- How long has the borrower actually been a part of the company.
Applies to:
To look-up bankruptcy cases by docket number.
Tri-County (South Florida) Sites
Free online public records search status of final judgments, divorce decrees, agreements for deed, garnishments, liens, lis pendens, bankruptcy discharge/dismissal, assumption of mortgage, condominium docs, modification of mortgage, andá.much, much more!
Same as Broward county record search above.
Same as Broward county record search above. |
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