Bret Cohn, NMLS # 276433

Bret Cohn, NMLS # 276433 I have served as a mortgage professional in Souther California for 20 years.

Loan Depot NMLS #174457
Bret Cohn NMLS: 276433

Content from this account does not represent views or opinions of loanDepot

09/08/2026

Just in case you have not heard.... There is a new appraisal format is coming in November:

2027.

• Starting November 2, all appraisals must use the new standardized, data heavy report. The old 1004 and other forms are gone. The new report is more detailed, more structured, and fully digital.

• One dynamic appraisal report replaces all legacy forms The new URAR automatically adjusts based on property type and assignment scope.

• More structured, machine readable data Less narrative text, more standardized fields for property characteristics, condition, quality, and comparable sales.

• Mandatory UAD 3.6 submission After Nov 2, 2026, UCDP will reject any appraisal submitted in the old UAD 2.6 format.

• Transition window for revisions Legacy (UAD 2.6) appraisals submitted before Nov 2 may still receive revisions until May 3, 2027.

The impact of these changes could mean longer turn times on appraisals while appraisers and lenders get used to the new format and process, so it is important to discuss this with the listing agent when presenting offers.

08/20/2026

I have been asked about this new home equity sharing products people are receiving ads about and how they are comparing to a HELOC or a 2nd mortgage.

The short answer is that the home equity sharing is really for people who can not qualify for the HELOC or a 2nd mortgage.

It is true that the Home equity sharing loan does generally not have payments but the home owner has to share any future appreciation of the home with the lender when they sell or when the contract ends …

I would personally advise against it, unless it is the only way a homeowner can stay in the home and get the cash they urgently need.

As far as what happens if the property value drops instead of goes up, If your home's value drops, the investor shares the loss with you, meaning the total amount you owe them at the end of the term will decrease. Because home equity sharing agreements are investments rather than standard loans, the provider's final payout is tied directly to what your property is worth when the loan is due or the property sells

Example: If an investor gave you $40,000 for a 20% stake in your $400,000 home, and the home's value drops to $350,000 (a $50,000 loss):
The investor takes a 20% hit on that loss ($10,000).

At settlement, you would only owe them $30,000 ($40,000 initial payout minus the $10,000 loss adjustment).

So the client would still owe a lot of what was borrowed. This is just an example and different investors contracts are different so there is not one true answer.

My advice is to look into other options first. Sure the Home equity sharing product will be right for some people, but for most there will be a better option in my opinion.

We do offer really great HELOC options as well as great 2nd mortgage options (I have been doing several of these as the clients like the fixed rate and reliable monthly payments)

I hope this helps, and if you have any questions give me a Buzz @ 760-238-2232

07/27/2026

I usually don't make long winded Facebook posts but this one is important if you are a realtor or thinking of buying a Condo.

Starting August 3, 2026, Fannie Mae and Freddie Mac are completely eliminating the streamlined "Limited Review" process for the vast majority of established condominium transactions.

Announced in March via Fannie Mae Lender Letter LL-2026-03 and a matching Freddie Mac bulletin, this major regulatory transition means almost all condo loans will face more extensive vetting to qualify for conventional financing.

-The End of Limited Reviews / Mandatory Full Reviews: Lenders can no longer bypass deep financial analysis on established projects.

-Broader Scrutiny: Every condo project with more than 10 units must undergo a comprehensive Full Review.

-Deep Financial Vetting: Under the new standard, lenders will rigorously analyze HOA budgets, upcoming litigation, insurance policies, and commercial space ratios.

-Longer Closings: Buyers and sellers should prepare for heavier paperwork demands and potentially delayed loan approval timelines

At LoanDepot we have you covered with our in-house Non-warrantable condo programs. Please call me anytime at 760-238-2232 to discuss this change or anything else mortgage related :-)

If you are working with buyers that are having trouble qualifying for a traditional loan, please let me know. Our in-h...
07/22/2026

If you are working with buyers that are having trouble qualifying for a traditional loan, please let me know. Our in-house Flex programs allow qualifying based on assets and bank statements rather than income. I love to be your first call, but if you have an escrow that is falling apart at underwriting let me know before your clients cancel to see if I can save the day 😉 760-238-2232

I Had a Realtor partner call me to see how much a seller could give as a closing cost credit yesterday, so thought I wo...
07/09/2026

I Had a Realtor partner call me to see how much a seller could give as a closing cost credit yesterday, so thought I would share :-) Please let me know if you have any questions 760-238-232

Working with investors? LoanDepot has our own in-house DSCR loan where the market rents qualify NOT the buyer's income....
06/26/2026

Working with investors? LoanDepot has our own in-house DSCR loan where the market rents qualify NOT the buyer's income. This is a great product for self employed buyers and those doing 1041 exchanges. Call me anytime at 760-238-2232 to learn more

Introducing our new 5X5 HELOC program. If you are looking for a quick way to access equity for home upgrades, debt cons...
06/09/2026

Introducing our new 5X5 HELOC program. If you are looking for a quick way to access equity for home upgrades, debt consolidation, or to get out of the heat this summer, I can Help! 760-238-2232

New marketing piece, thought I would share :-)
06/05/2026

New marketing piece, thought I would share :-)

Another 5 star review! If you are looking for great local service for your mortgage or for your real estate clients, p...
06/05/2026

Another 5 star review! If you are looking for great local service for your mortgage or for your real estate clients, please call me at 760-238-2232

Big news for the Coachella Valley!!
04/30/2026

Big news for the Coachella Valley!!

Address

74-980 Highway 111
Indian Wells, CA
92210

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