Portland Mortgage Broker

House and Senate banking committee leaders are close to an agreement on a Federal Housing Administration reform bill, and it could clear the way for final passage in a few weeks. Reform Bill, known as the Expanding American Home Ownership Act, was introduced in the 109th Congress in 2006. When enacted, the bill will enable […]

According to current economic assumptions, an estimated 40% of outstanding supbrime mortgages could go into default over the next three years says Michael Bykhovsky, president of Applied Analytics. American Progress additionally reports that 14.7% of nationally-originated loans in 2007 were subprime in nature, meaning that the potential fallout from a mass subprime exodus could be […]

As I’m reading some of the broker-bashing going on out there on the Internet right now, as well as paying careful attention to what’s happening in our Oregon Legislature with SB 1090 and other referendums, it occurs to me that the world could really use some definition about what makes one mortgage broker any better […]

I have been told that the Department of Housing and Urban Development expects to issue the new loan limits for Fannie Mae, Freddie Mac, and Federal Housing Administration loans by March 7. This will be huge news for the housing industry, as it updates antiquated FHA guidelines and will allow more expensive homes to qualify […]

I just came across this interesting article about how the tourist practice of swapping houses in lieu of paying for a hotel stay has started to move into the realm of actually swapping deeds. You can read the article in its entirity here - http://www.mortgagenewsdaily.com/2202008_Permanent_House_Swap.asp . It’s certainly an interesting idea!

The Sunday Oregonian’s Business section contained this headline, so of course I had to crack it open and give it a read. For those of you who may be somewhat new to my website and my philosophies, I have long advocated that “as goes the local economy, so goes the local housing market”. So, of […]

For the 12 months ending in January, 2008 vs. the previous 12 months, the average price in the Portland Metropolitan area appreciated 6.1% according to RMLS. The average price rose from $322,900 to $342,900 and the median price rose from $275,000 to $280,000 for an increase of 1.8% for the same 12 month period. […]

Readers, SB1090 is being hotly debated in this February’s special session. In it’s current form, it is over-reactive and highly unfair to Oregon-based banks. Read this letter I sent to my Representative and Senator earlier today to understand why:
Dear Senator Gordly,
As a business owner and mortgage broker in Oregon and a resident of Portland, […]