Since the major federal changes to residential mortgage forms rolled out in early October 2015, sales associates and homeowners have had to be mindful and diligent with the new process. Here’s a quick update from Ryan Raveis, President of William Raveis Mortgage, on how the transition is going:
August 28, 2015
Buying a home is a life altering decision, and it’s full of moving parts. It isn’t easy, and we understand that. But, we can help make it simpler. On a daily basis, we help our clients find their dream homes but we also help them figure out how they’re going to pay for and insure those homes. William Raveis is in the unique position to offer our clients a full team of experts to help them through the process—from their first search to getting them pre-approved to closing on time.
October 15, 2013
If you are working with clients aiming to buy and finance a home in the near future, you’ll want to be sure to close the transaction before the end of the year.
September 25, 2013
Housing affordability dipped slightly during the second quarter according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI), released today. Additionally, this past week, Freddie Mac released their U.S. Economic and Housing Market Outlook for the month of August, 2012 which revealed that their Price Index increased 4.8% from March to June, 2012 which was the largest quarterly increase in eight years.
So is this the end of the bargains for buyers?
August 16, 2012
November 19, 2011
William Raveis Mortgage, LLC (NMLS ID 2630) is home to 2 of the top loan originators, by dollar volume, in the nation. Scotsman Guide, a leading publication for mortgage originators, recently announced these results in its 2010 Top Originators List . They are pictured on the next page from top to bottom-John Grosso, and Jorge Rivera.
May 3, 2011
Author Matthew Amster-Burton posted an article, titled “Understanding Home Loans,” with a humorous take on the current state of the mortgage industry. His posting offers clear insight to anyone who feels overwhelmed when trying to understand what different home loan options are available. Do acronyms like “FHA,” “5/1 ARM” and “7/1 ARM” inspire a mental haze? Don’t feel alone. Ever since the collapse and current recovery of the housing market, there has been confusion on what loans are and aren’t currently available to prospective homebuyers and those looking to refinance. Many people fell prey to sub-prime loans that littered the market over the past 5 or so years. Lenders strayed from traditional practices as demand for loans grew amongst high-risk borrowers with less-than-great credit ratings. Borrowers were happy because they were living the American dream (or so they thought) of owning a home and lenders were heavily profiting off of each transaction. Lenders began to package these loans and sold them as Mortgage-Backed Securities-MBS’s (another acronym for you) to leading banks. However, housing prices began to fall, homeowners defaulted on their mortgage payments and banks began to incur heavy losses on once rosy MBS’s. And so the subprime crisis began.
Good news is, a lot has changed since then. Due to government overhaul, mortgage brokers have returned to more traditional lending practices. Amster-Burton quoted Frank Ruzicka of Cornerstone Mortgage regarding mortgage options. “In terms of products available, it’s very old-school at this point. Gone are the crazy things. You don’t see the pay-option ARM’s anymore. You’re not doing subprime lending anymore.” Check out the rest of Amster-Burton’s article to see what’s available for all you loan shoppers out there… And while on the topic of loan shopping, according to the US Department of HUD, William Raveis Mortgage falls in the top 1% of all lenders nationwide, offering a full array of loan programs for you to choose from. During the housing crisis, our mortgage company took great care in maintaining exceptional ethical standards and did not participate in sub-prime lending. Take a look at raveis.com for more information.
May 1, 2010
Real Estate Outlook: Freddie Mac Predicts Positive Recovery
by Kenneth R. Harney
Could we be heading for a “double dip” in the economy, taking us back into recession, as some Wall Street analysts predict? Could the Federal Reserve’s planned departure from the mortgage securities market send home loan rates spiking upward, and knock the wind out of the housing recovery?
March 24, 2010
Charles Ferraro, President of William Raveis Mortgage, LLC, has recently announced that William Raveis Mortgage is ranked in the top 1% of all FHA lenders in the United States. The ranking is based on the US Department of Housing & Urban Development, compare ratio statistics.
The mortgage company, which has been operating since 1984, received this honor as a result of the company’s long-time ethical, responsible lending policies especially during a time when many other lenders were drawn into exotic mortgage loans that led to the recent housing recession.
According to Mr. Ferraro, the top ranking status ultimately benefits the company’s home buying customers. “Our ranking not only gives us the ability to offer great FHA rates to our customers but also allows us the ability to launch new products that are largely unavailable to other lenders,” he said. Products include mortgage loans with 97% conventional financing on single family purchases and 95% conventional financing on purchase and rate/term refinances on single family properties and condominiums with conventional financing, both with private mortgage insurance.
An additional low financing benefit is also available to those looking for a second home. William Raveis Mortgage can provide up to 90% LTV conventional financing with private mortgage insurance. The maximum loan amount is $417,000 for these programs with low down payments and private mortgage insurance.
“If you are in the market to take advantage of great rates and good housing values,” stated Ferraro, “now is the time to maximize your purchasing power with William Raveis Mortgage, nationally recognized as a high quality low down payment lender.”
Since its establishment 26 years ago, William Raveis Mortgage LLC has closed more than $6 billion in mortgage loans. Its consistent performance is attributed to, experienced management team, the company’s diverse portfolio of lending partners, national pricing power, progressive technology for its loan officers, and sound underwriting approvals. The company is licensed in MA, CT, NH, RI, and NY.
March 5, 2010