Mortgage Lenders

the mortgage link with 1st republic mortgage bankers

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Coldwell Banker Mortgage screwed me for $350.00 for a PRE-APPROVAL for a loan. Anyone else had similar instances where this company screwed you?

$350.00 for a pre-approval? Are you sure that was not for an Appraisal on a property? I work with Coldwell Banker Real Estate Agents and I have never heard of that. I would like to know more. Are you looking to get approved for a home loan? If so, I can assist you. Hit me back.

That depends. It ranges from 30K to 250K. I would not advise getting into it right now though unless you are guaranteed a good salary plus commission.

This would just be the ones taking more than $1 Million per year in total compensation (options and retirement and golden parachutes included).

These would be clean professional jobs, not in front of their wives and kids, simple double taps behind the ear, quiet, not messy, not causing any public disturbance.

It’s obvious that the government is in bed with these people. Barney Frank, the Congressman for Tinky Winky, and Chris Dodd, and the White House, might just as well be banks themselves. So USA government = The Banks, K Street Rules.

OK fine, but what about direct action by the People, or by some people. If Washington is helpless, that does not mean that every living person in the universe is helpless.

After 500 or maybe 5000 executives wound up dead, shot in the head, some still in the red, some not, there could be some Receipt of Message on Wall Street and at the Big Banks.

The Board and the compensation committees would still try to press the $25 Million per year salaries on the top executives, but they would say, "Heck no! I’m not taking more than $1 Million per year — much too dangerous — my wife won’t let me, my life insurance company will cancel my policy — I’m not doing it"

And then we would get tiresome papers from the CATO people and from University of Chicago about how a man has absolutely no incentive to do a job and do it well if he’s paid only $1 Million per year for his work.

And we will try not to laugh at these buffoons, these lick-spittle hirelings, these quislings, these bought and paid for "intellectual" persons of the street corners.

It wouldn’t take more than 500 or 1000 to get the message through. A dozen retired marine snipers could get the job done.

Isn’t that better than throwing 5 million people out of their homes and exporting 10 million jobs overseas and forcing 5 million people into bankrupcy?

The greatest good for the greatest number suggests that when government is weak as water, and Tinky just does tinky and a little winky at the Banks, it would be OK morally to take direct action.

If Teddy Roosevelt had come on the scene just as Lehman Bros was going under 500 Executives would have gone to jail and 90% of the NYC Financial Services industry would have been closed down never to return.

This month the big banks who are no longer under TARP will go right back to their bad old ways and pay $10 million compensation and more to their execs. Nobody has gone to jail except Bernie Madoff, and his Ponzi scheme had little to do with the collapse of the US economy. AIG has taken $389 Billion in TARP funds. A lot of that money will pay for retirement and medical insurance for their senior executives.

The Congress = The Banks.

It is a case of reverse treason.

The government (with the banks) has declared war on the people.

If there’s going to be action it won’t come from Tinky Winky, or Chris Dodd or even from Sen. Schumer. It will have to come from elsewhere.

I can’t imagine too many people caring what happens to them. Considering the number of people who’s lives were ruined, times the years of hardship for each ripped-off person.

They are scumbags. The entire system of slobbering greedy capitalists are trash.

Each person on earth is equal. Those that steal & even destroy life in order to make astronomical amounts of money.. while millions of people around the world starve & live in deplorable conditions.. they should at the very least, serve as slave labor for the rest of their lives, serving the needs of the needy.

Nothing really ever changes.. the same old same old.. s**t… different day.. month.. century.. etc,etc. The pyramid system.. the few at the top supported by the teeming masses below. Hustled & conned from birth – onward.. taught to obey & work & die in wars.. never ending wars…

Should they be thrown in prison for fraud. A lot of these bankers helped phony up documents in order to make unqualified people qualify for mortgages they could not afford. All in order to earn the higher commissions paid for these terrible products.

They made $Trillions (that is not hyberbole) when this de regulated banking system was running in overdrive from 2003-2007 they were making obscene profits. These people and the politicians that work for them should all be jailed and their PERSONAL holdings liquidated and used for the cleanup after that is done Congress can ask for us to chip in.

I am getting reading to purchase my first place. Over the years I have saved 100K for a down payment with money left over. I make roughly just under 37K a year gross. I project without taking into consideration monthly mortgage payments and home insurance that my other bills and monthly expenses would probably be around $877. That’s based off of what others have paid and during the winter months when it’s colder.

I have looked at mortgage calculators online and my head is spinning on what I can afford. I know a house of $150K would still leave me with money to put in the bank each month, which I believe I can get a house for that I saw today.

Maybe someone can give me an idea how much mortgage I can really afford so I avoid getting into the financial troubles that people are in now. I am single and I would be the only income. The places I’ve looked at have taxes usually around $3600. Obviously the lower the townhome the lower the taxes.

I know with the $150K example with expenses I would have left over close to $600 a month.

Thanks!
I am pre-approved, but I just want to get a feel of what you tell others when they apply for a mortgage. So really this is a how much can I afford type of question.

33% of your monthly NET income is the high end of what you could afford as a payment to a lender.

if you take home 1000 a month, then your mortgage payment would be 333 dollars.
you do not "tell" others what YOU can afford. they will figure out WHAT they will lend you based on your income, time on job, credit payment history, etc.

understand

Or read? Kinda sounds like a congress that voted for a stimulus package they didn’t read, doesn’t it?

Mortgage Question! Do mortgage brokers still use points? That includes bankers as well! Thanks!

You can pay points for a number of reasons. I think what you are referring to is paying points as part of a broker’s fee, which does happen. If you’re concerned about fees, I would recommend working with a direct lender that only charges a flat processing fee as part of closing costs.

In general, points should be viewed as an opportunity within your loan for a lower rate. Most people pay points in exchange for a rate which is below market – this is called buying down your rate. Sometimes, if parts of your profile aren’t where they should be (credit, income, etc.) points can be charged as a negative adjustment to get you the loan. Talk with a mortgage banker who can show you the difference. Keep in mind, the money you pay directly on points is interest paid and is therefore tax deductible.

Will take a job as mortgage banker knowing the market is so down. It will be hard to sell. Why you will or not take this job?

Will TAKE JOB FOR TWO REASONS.
1. AS A BANKER ALREADY, I VE GOT A CLIENTEL BASE, WITH IDENTIFIED MORTGAGE NEEN.
2. THERE MUST BE MORTGAGE MARKET AND CONTINUED DEMAND FOR MORTGAGE PRODUCTS.
TNX

If we are giving our bankers draft (deposit) to our solicitor on a friday which is our completion date, when will the bankers draft have cleared?
We also have a mortgage.
Is a bankers draft like a cheque??
We are moving and I was wondering will be able to move in that day after we give the bankers draft??
Or is there any way we could get the bankers draft earlier to give to the solicitor so there is time for it to clear??
I am so confused.

Thanks, Trudy

A banker’s draft is treated like cash. It doesn’t need time to clear.

I take it you’re exchanging contracts and completing on the same day? Usually the deposit is given at the date of exchange of contracts and completion is when the rest of the mortgage monies are received by the seller’s solicitor.

If you’ve arranged with your bank to complete on Friday that’s when the funds will go through usually between 12-2pm and you’ll be handed the keys to your new home!

Good luck!