Ken 's Blog

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Mortgage and Lending - FAIRWAY Independent Mortgage Corp
Ken Pederson, a mortgage lender and Certified Mortgage Planner in Pennsylvania, talks about wealth accumulation and mortgage advice.

ARCHIVED BLOG POSTS

2008 

Many buyers need a seller concession to help with closing costs and down payment funds, especially in todays market with no more "no downpayment" loans available.  Those buyers that do not need the money for closing costs... those putting 10% or 20% down or more, will typically try to n...
05/29/2008
Here are a few the NEW changes, effective 6/2/08, coming from MGIC, the oldest and largest mortgage insurance company in the world. And when MGIC makes changes, the rest of the industry follows.1. MGIC will no longer insure a low or no-doc type of loan. 2. Negative amortization loans, those which...
05/29/2008
One of these days, the real estate lending industry will be on the same page with their friends in supporting industries. However, until the lenders are on the same page with the mortgage insurance company's, the real estate environment is going to stay a bit confused. Here's what's h...
05/29/2008
Housing Affordability has climbed as House Prices DeclineBy LaVaughn M. Henry, Ph.D., Director, U.S. Economic AnalysisIf there is a silver lining to be found in the record drops in house prices that have taken place in many parts of the country, it is that housing affordability has increased shar...
05/22/2008
It happens all the time... client sells a home and wants to put all that equity right into their new home. Make a big downpayment and keep the mortgage payment low, "to be safe", they say.Unfortunately, for many people, it's a big mistake and not really all that safe. Here's rea...
05/22/2008
It's not hard to realize that money accumulating in an account will grow more if it's not taxed on an annualized basis. If you are in the accumulation phase (building wealth), maximizing contributions to tax advantaged/tax deferred or tax free accounts is important. Not taxed versus taxed...
05/15/2008
The PMI companies are making changes and "tightening" the belt a little bit and so is Fannie Mae (FNMA) which means Freddie Mac (FHLMC) will be adopting most if not all of the same changes. FNMA and FHLMC purchase the majority of all conventional loans funded in the US.  All changes are...
05/15/2008
-The wealthy like to put their money to work for them rather than let it sit idle. They take out mortgages rather than use their valuable present-day dollars to pay for their homes.-The smartest money managers buy their homes with other people'smoney - lenders. Why do they do this?-When you p...
05/08/2008
More changes on the horizon for the biggest Private Mortgage Insurance company, MGIC. MGIC is almost always first of the MI companies to institute change and the others follow shortly thereafter. New changes coming on the heals of big changes in March. These new changes will be effective on June ...
05/08/2008
Rainmaker
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Ken Pederson

Certified Mortgage Planner
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