Peter Cha - Mortgage Loan Originator

02/25/2021

https://housingbrief.com/article/6037e705655269f0bb3e4f60/5e759bd313238416bc62756b

Emphasizing reprice risk in the last alert after the 7yr auction completely whiffed it. I'll break it down in the recap, but it was BAD.  10s hit 1.614 for a moment, but are down to 1.542 n...

08/03/2020

This is great news! But just remember, if you're looking to refinance and currently is forbearance, it is required that you've paid back the payments you didn't pay, and bring your mortgage current without any deferred balances and take advantage of these low rates and lower your mortgage payments!

The U.S. mortgage forbearance rate dropped to a three-month low this week as more Americans were able to pay their loans on time, Black Knight said.

04/30/2020

Forbearance - Some good info about how your lender is suppose to handle mortgages in forbearance.

Some mortgage servicers are providing “confusing and, at times, seemingly contradictory” information about forbearance, a federal watchdog said.

04/23/2020

Wonder how much longer they'll be pumping out this fake hope on consumers.. Why not announce what happens after the forbearance? Like Loan modification and how horrible the borrowers credit profile will be once they start the loan modification process.

servicers who collect payments on loans backed by Fannie Mae and Freddie Mac, but not in the exact way that servicers were expecting.

04/15/2020

One of the better Down Payment Assistant program provider.. no longer available announced lay off. Wow

Opendoor laid off over 600 of its employees Wednesday as the company struggles to deal with the economic impact of the coronavirus.

02/11/2020

Not a surprise.. rates are at its lowest..

It won’t come as a surprise to those in the mortgage business that the fourth quarter of 2019 was a big one, but just how big may make the most ardent observers stand up and take notice.

02/08/2020

01/30/2020

🤔 it's the right time.. if that's what you're asking yourself.
It's just that we do it better than your local bank.

This week, the average U.S. fixed rate for a 30-year mortgage averaged 3.51%, dropping to the second-lowest level in three years. The pace is now 95 basis points below the 4.46% of the same week last year, according to the Freddie Mac Primary Mortgage Market Survey.

01/26/2020

Interesting read..
Are you interested in refinancing? Not sure if it'll benefit you? Trying to figure out how much a refinance can save you? I'll put a free quote together with no obligation to you. Most of the clients I have closed in the past year, have closed with rates between 3.375% and 3.625% with no added origination charges. Stop wasting your time, and contact me by phone, or by email.

Persistently low mortgage rates have both a positive and a negative influence on the housing market.