Category: Blog
Thank You for 10 Wonderful Years!
A letter from our President - Joseph M. Pisa On behalf of the entire Northstar Funding team I would like to take this opportunity to thank each and every one of our business partners and most importantly, our clients. Even through all the ups and downs (and the market has definitely provided plenty of both), it's
Conforming Plus Future Income Program
The Conforming Plus Future Income program allows a borrower to close a loan 120 days prior to starting their new job. NOTE: The Future Income Program is ONLY to be used when the borrower does not start their job until AFTER the loan funds. AUS Findings Desktop Underwriter Approve/Eligible only. - A
More Buyers are Achieving Home Ownership with HomeReady
HomeReady Mortgage is a Fannie Mae Program and offered by Northstar Home Funding General Terms and Guidelines to Review: 97% financing purchase -1 unit /Owner Occupied. No minimum borrower contribution (1 Unit properties) - use flexible sources of funds for down payment and closing c
Home Prices Rise
"A house with love in it is rich indeed." Nat King Cole. Families may find themselves living on love as they invest more on increasing home prices. The S&P/Case-Shiller 20-City Home Price Index saw another gain of 5.7 percent from April 2016 to April 2017. Price increases are due in part to limited supp
Today’s Market Indicators – Are you Ready?
Strong Market Starts Next Week Will Tell if this Gets Even More Exciting - Stay Tuned! Matthew Graham, CEO of Mortgage News Daily, compares the similarities of the 2013 bond sell off to today's market patterns and makes the case for a Bounce. Read the full article here at Mortgage Daily News! https://bit.ly/2pG0i
MBS RECAP: Curse Broken? Bonds Waiting on Data to Confirm
Bond markets found their first green day since June 27th today and for no particular reason apart from today being the first full trading day in July. That assertion comes courtesy of the volume and volatility seen during the various opening and closing times for stocks and bonds. First up, we had the
Home Sales in Bloom – Home sales were strong, while GDP was a disappointment.
New Home Sales blossomed in March reaching their highest level in nearly a year, the Commerce Department reported. Sales were up 5.8 percent from February and nearly 16 percent from a year ago. New home inventories edged lower to a 5.2-month supply in March. A six-month supply is considered "normal" inventory. Ex
MBS RECAP: Bonds Build Case for Support After Yellen
"Support" and "resistance" are two terms often thrown around in market analysis. They loosely refer to ceilings and floors respectively (as far as rates are concerned), but it's slightly more complicated than that (as covered in our primer on MBS Live). The gist is that ceilings and floors can st
FHFA Calls For Big Changes to Fannie/Freddie Conservatorship
Federal Housing Finance Agency (FHFA) Director Mel Watt had three messages for the U.S. Senate Committee on Banking, Housing, and Urban Affairs on Thursday: Fannie Mae and Freddie Mac (the GSEs) are not the companies they were before they were put in conservatorship Congress needs to act urgently on housing fina
Job Growth Soars in June
"Let's work, be proud. Stand tall, touch the clouds." Mick Jagger. More Americans were headed to work, but take-home pay stayed about the same. Employers added 222,000 new jobs in June, well above expectations, the Labor Department reported. April was revised up from 174,000 to 207,000, and May was revised u
Creative Loan Financing Options
Call us today to review any of these creative loan offerings and requirements for each! 1. Agency Near Misses(Use Agency Plus for conventional and jumbo loans that don’t quite fit agency guidelines) 2. RE Investors(use DSCR to qualify - No personal income, no tax returns needed) 3. Self Employed(No W2,
Retail Sales Weak. Inflation Tame.
Last Week in Review: "Just shopping. Not buying anything." The Dramatics. Consumers are spending more than last year, but sales from month to month don't register consistently. June Retail Sales fell 0.2 percent from May, the second monthly decrease in a row, though they were 2.8 percent above June 2016 per