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?
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
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
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
By: Stephanie Diana Gast- Wilson As with all posts let’s get the disclaimer out of the way in that builders should always touch base with their preferred and do your own research on the topic of PERS otherwise, known as Fannie Mae (FNMA) waivers or agency new construction waivers. Like any lending product, there are … More Waivers Blessing or Curse for Builders?
By: Stephanie Diana Wilson Normally this blog is socially and politically neutral but; the topic of protecting water and environment is near and dear to me. The topic of environment also has the possibility to hurt not only mine and much of the US economy’s bottom line and the future health and financial well fare … More Standing Rock and How Completion Will Hurt Condo Loans
By: Stephanie Diana Gast- Wilson So, to give some back story to the topic noted in the title. I am taking an HR Human Behavior course within my Master’s program. The term long case study we are examining is a company that used a Scanlon bonus pay plan to encourage morale long term and if … More Is Commission The Best Payment System for Loan Originators?