Steven M. Hook, CMPS, CMA and MBA. NMLS #303544

09/05/2026

“How Is That Possible?”
820+ credit score. Mortgage score: 744. How is that possible?

That's a real-world example of a question that comes up in mortgage lending.
The 820+ numbers were VantageScores, while the mortgage financing was being evaluated using a different scoring model.

That doesn't necessarily mean either score is wrong.
Different scoring models can look at the same credit history and produce very different numbers.

I've explained this common—and confusing—mortgage question in my latest Credit Corner.

09/04/2026

Rates moved higher during the week ending September 4, 2026, due to rising bond yields and expectations of a possible September Fed policy rate hike. United American Mortgage Corporation is an Equal Housing Lender.

Enjoy this quick update on what's going on in the housing and financial markets.

09/04/2026

May your Labor Day be marked by great food, time with your favorite people, and an absence of any actual labor. Hope you have a good one! United American Mortgage Corporation is an Equal Housing Lender.

09/04/2026

There May Be a Plan B
What happens when a San Francisco condo isn't warrantable?
The first reaction is sometimes:
“The buyer can't finance it.”

I wouldn't jump to that conclusion.
The first question I want answered is:
Why isn't the condominium meeting conventional guidelines?
The answer matters.

Depending upon the problem, there may be another financing strategy through a portfolio lender, jumbo lender, Non-QM lender or another condominium program.

Not every problem can be overcome, and alternative financing may come with different rates, down payments and underwriting requirements.
But non-warrantable doesn't automatically mean unfinanceable.

My newest BROKER'S EDGE article looks at the recent condominium guideline changes and why a San Francisco condo that obtained conventional financing yesterday may need a completely different analysis today.

Sometimes the solution isn't changing the property.
It's finding the lender whose guidelines fit it.

A San Francisco condo financed last year may not qualify today. Learn how new Fannie Mae and Freddie Mac rules can affect buyers, sellers and Realtors.

09/03/2026

One mortgage lender says no. Is the conversation over?
Maybe not.

This is especially important with FHA, VA and USDA loans.

The government establishes the basic rules for these programs—but individual mortgage lenders can add their own requirements.
Those additional requirements are often called lender overlays.

So when a borrower is declined, there can be a very important question to ask:
Did FHA, VA or USDA guidelines prevent the loan—or did that particular lender's guidelines prevent it?
The answer isn't always the same.

In Lesson 4 of my Residential Lending Playbook — Beyond Conforming, I explain how FHA, VA and USDA financing works, who may benefit, some of the biggest myths surrounding these programs, and why an eligible Veteran in particular shouldn't dismiss VA financing without understanding the benefits.

Sometimes the right financing strategy begins with asking a better question.

Read Lesson 4: Government Lending — FHA, VA and USDA Explained.

Learn how FHA, VA and USDA home loans work, who may qualify, common government-loan myths, lender overlays, and why one lender may approve a loan another declines.

09/02/2026

Buyer Preapproval
Your buyer is pre-approved. Great credit. Strong income. Plenty of money for the down payment.

So the San Francisco condo should be easy to finance, right?
Maybe.

Because with condominium financing, there are really two approvals to think about:
The borrower—and the condominium project.

The borrower can qualify perfectly while an issue involving the HOA's reserves, insurance, repairs, litigation, special assessments or other project requirements creates a financing problem.

And recent Fannie Mae and Freddie Mac guideline changes make it particularly important not to rely upon the fact that someone else successfully financed a unit in the building last year.

My newest article explains why yesterday's approved condo may not be today's approved condo.

For condo buyers and their Realtors, identifying the issue early can make all the difference.

A San Francisco condo financed last year may not qualify today. Learn how new Fannie Mae and Freddie Mac rules can affect buyers, sellers and Realtors.

08/31/2026

Think FHA is only for first-time buyers?
Think VA financing is complicated or less attractive to a seller?
Think USDA means buying a house way out in the country?

Government-backed mortgages come with a surprising number of myths—and some of them can cause homebuyers to overlook financing that might actually fit them very well.

In Lesson 4 of my Residential Lending Playbook — Beyond Conforming, I explain how FHA, VA and USDA loans really work, including:
• Why FHA sometimes works when conventional financing doesn't
• Why eligible Veterans should almost always compare VA financing before choosing another option
• Why some USDA-eligible homes may not seem particularly “rural”
• Why one lender can decline a loan that another lender may be willing to consider

The loan program matters.
But sometimes choosing the right lender matters just as much.
Read Lesson 4: Government Lending — FHA, VA and USDA Explained.

08/29/2026

FHA is only for first-time homebuyers.
VA loans are too difficult.
USDA loans are for farms.
You've probably heard at least one of these.

But government-backed mortgage programs are among the most misunderstood financing options available to homebuyers.

In Lesson 4 of my Residential Lending Playbook — Beyond Conforming, I explain FHA, VA and USDA financing in plain English—including who may benefit and why a lender can sometimes decline a loan even when the government guidelines permit it.

Before ruling out a government loan, understand what the program actually allows.
Read Lesson 4: Government Lending — FHA, VA and USDA Explained.

08/28/2026

Rates improved slightly during the week ending August 28, 2026, despite a report showing stubbornly high inflation. United American Mortgage Corporation is an Equal Housing Lender.

Enjoy this quick update on what's going on in the housing and financial markets.

08/28/2026

The Neighbor's Loan
“My neighbor bought his condo with a conventional loan last year, so our building must be approved.”
Not necessarily.

That's becoming an increasingly important distinction for San Francisco condominium owners and buyers.
Fannie Mae and Freddie Mac recently changed significant condominium financing guidelines, including eliminating Limited/Streamlined Reviews for new applications.
But guidelines aren't the only thing that changes.

The HOA can change too.
Insurance changes. Budgets change. Reserve studies change. Repairs are discovered. Special assessments happen. Litigation can begin.

So a conventional mortgage that closed in your building last year doesn't guarantee the next one will.

My newest article explains why:
Is Your San Francisco Condo Still Warrantable? Why Yesterday's Approved Condo May Not Be Today's Approved Condo.

If you're thinking about buying, selling or refinancing a San Francisco condo, this is worth understanding before you get too far into the transaction.

A San Francisco condo financed last year may not qualify today. Learn how new Fannie Mae and Freddie Mac rules can affect buyers, sellers and Realtors.