10% Reserves and What Counts Towards This Rule?

By: Stephanie Diana Gast- Wilson The past few weeks fellow Condo specialists within the mortgage field and even in the construction development areas have been asking me the same question.  If the condo HOA doesn’t have a specific line item for reserves what is there to be done? Before I answer as always the CYOB … More 10% Reserves and What Counts Towards This Rule?

When Is Commercial Space Not Commercial Space?

By: Stephanie Diana Gast- Wilson So, it is industry common knowledge that federal lending agencies regarding condo project financing only lend in condo projects that are primarily in residential complexes. However, there is a tricky question that keeps coming up regarding this vague principle keeps coming up. The question being if apartment complexes in condo … More When Is Commercial Space Not Commercial Space?

Opportunities

By: Stephanie Diana Gast- Wilson Tonight I am writing about a great opportunity. I am working on a business plan and business model to redefine how the mortgage industry handles condo compliance underwriting. As we see smaller lenders struggling to afford condo teams and builders creating projects that cannot be approved through traditional lending when … More Opportunities

Disarming the Mortgage Sales Force: How the Changes to the CFPB are Hindering Sales Reps

By: Stephanie Diana Gast- Wilson I was reading Rob Chrisman’s daily news letter and how the compliance aspect of the mortgage industry is putting their hands up to comment on the fact that the financial crisis of 2008 didn’t happen by accident. It happened because the mortgage industry neglected a sales reps best defensive weapon… … More Disarming the Mortgage Sales Force: How the Changes to the CFPB are Hindering Sales Reps

Down Payment Assistance Programs and Condos

By: Stephanie Diana Gast- Wilson A question I have been getting asked a lot lately is regarding down payment assistance programs and how they affect condo project underwriting? For investors and future home buyers a down payment assistance program where money is not directly given towards the purchase of a home from say a local … More Down Payment Assistance Programs and Condos