Jerry Wright's (jerrywright) Blog

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Mortgage and Lending - Absolute Mortgage

ARCHIVED BLOG POSTS

2009 

Have you looked at the new Good Faith Estimate yet?  Well I would encourage you to.  Starting January 1st lenders are required to use a new GFE.  It is a three page document now, not just one.  It does spell out quite well what the closing costs are and what they are for.  There will be some conf...
12/23/2009
Effictive Saturday, December 12th the underwriting engine that is used to approve most loans is reducing its ratios to 45% with some flexibillity to 50%.  In the past we could run DO and get approvals to 54% normally and in the low 60's with a stong buyer.  What this means is the buyers debt to i...
12/08/2009
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Jerry Wright

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