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Saturday, March 17, 2012
Thursday, March 8, 2012
Appy Hour at the Board of Realtors
The California Desert Association of Realtors and the Young Professionals Network is having an event. See the attached flyer and RSVP ASAP. Seating is limited.
Thursday, March 15 2012
3 p.m. to 4 p.m. (2:30 check-in)
California Desert Association of REALTORS® 44475 Monterey Ave, Palm Desert
$5.00 Per Person
Call 760.346.5637
E-Mail joy@cdaronline.com
Make it a great day,
Sean K. La Rue
Senior Vice President – Franklin Loan Center
“Your KEY to Moving Home!” – se habla español
Jumbo Loan Expert | FHA/VA Direct Lender | Reverse Mortgage Advisor
44800 Village Court – Palm Desert, CA 92260
Mobile: 760.835.5663 Office: 760.837.1488 FAX: 800.784.9089
Jan Christensen
Executive Assistant | 760.837.1486 | jchristensen@franklinlc.com
Click "Like" at facebook.com/SeanLaRueFLC for more information on mortgages and real estate.
Click for Mortgage Documentation Check List
Click to Apply for a Home Loan
Click to view Sean’s Weekly Newsletter
DRE# 01786480 NMLS# 291852
NOTICE OF DISTRIBUTION: This e-mail message contains information that may be confidential and privileged. Unless you are the addressee (or authorized to receive messages for the addressee), you may not use, copy or disclose this message (or any information contained in it) to anyone. If you have received this message in error, please advise the sender by reply e-mail and delete this message. Nothing in this message should be interpreted as a digital or electronic signature that can be used to authenticate a contract or other legal document.
Wednesday, March 7, 2012
FHA Updates
Based on the phone calls I’m sending the following to clarify the pending MIP changes on FHA loans. The changes are effective on different dates based on both different loan amounts AND on the type of loan.
Please print out the attached ML 12-03 and keep it as a reference.
Here is a synopsis ONLY of the pending changes as indicated in ML 12-03:
FIRST CHANGES: Effective with case numbers assigned ON or AFTER 4/9/2012
The new UFMIP (Up front MIP) will be 1.75% for all FHA loans and the new annual (collected monthly) will be as follows:
Term greater than 15 years: LTV greater than 95.00% = 1.25%
LTV equal to or less than 95.00% = 1.20%
Term 15 years or less: LTV greater than 95.00% = 0.60%
LTV equal to or less than 95.00% = 0.35%
Note: 15 year loans with an LTV equal to or less than 78% at origination are exempt from the upfront MIP
SECOND CHANGES: Effective with case numbers assigned ON or AFTER 6/11/2012
Loan amounts equal to or less than $625,500 remain the same as above.
Loan amounts GREATER THAN $625,500 have an HIGHER annual (collected monthly) premium as follows:
Term greater than 15 years: LTV greater than 95.00% = 1.50%
LTV equal to or less than 95.00% = 1.45%
Term 15 years or less: LTV greater than 95.00% = 0.85%
LTV equal to or less than 95.00% = 0.60%
The same exemption rule for 15 year terms, less than 78% LTV still applies even for the higher loan amounts
ADDITIONAL CHANGES APPLICABLE TO STREAMLINE REFINANCES **** ONLY **** FOR CASE NUMBERS ASSIGNED ON OR AFTER 6/11/2012
FHA will be allowing REDUCED upfront and annual premiums for SOME FHA streamline loans.
The loan must have been ENDORSED (which means FHA insured it) ON or BEFORE 5/31/2009.
This is VERY important because it doesn’t mean when the loan CLOSED or when the original case number was assigned – it means FHA had to have insured it by that date.
For the cases meeting that criteria, the new premiums will be as follows, regardless of loan amount or loan term:
Upfront MIP = 0.01% of the base loan amount.
Annual MIP = 0.55% of the base loan amount
Make it a great day,
Sean K. La Rue
Senior Vice President – Franklin Loan Center
“Your KEY to Moving Home!” – se habla español
Jumbo Loan Expert | FHA/VA Direct Lender | Reverse Mortgage Advisor
44800 Village Court – Palm Desert, CA 92260
Mobile: 760.835.5663 Office: 760.837.1488 FAX: 800.784.9089
Jan Christensen
Executive Assistant | 760.837.1486 | jchristensen@franklinlc.com
Click "Like" at facebook.com/SeanLaRueFLC for more information on mortgages and real estate.
Click for Mortgage Documentation Check List
Click to Apply for a Home Loan
Click to view Sean’s Weekly Newsletter
DRE# 01786480 NMLS# 291852
NOTICE OF DISTRIBUTION: This e-mail message contains information that may be confidential and privileged. Unless you are the addressee (or authorized to receive messages for the addressee), you may not use, copy or disclose this message (or any information contained in it) to anyone. If you have received this message in error, please advise the sender by reply e-mail and delete this message. Nothing in this message should be interpreted as a digital or electronic signature that can be used to authenticate a contract or other legal document.
The NEW iPAD
For those interested in the specifics on the new iPad 3:
- 9.7" screen with a resolution of 2048 x 1536 (Much higher resolution than a 1080P TV!)
- New Dual Core Processor with Quad Core Graphics (increased speed, stability, and image quality)
- 5 Megapixel Camera,
- Also capable of 1080P video recording
- 10 hours of battery life
- 4G Wireless Data (only available on ATT & Verizon)
- MUCH faster than current 3G speeds.
- Only available in areas with 4G coverage (reverts back to 3G in areas with no 4G coverage)
- Write emails, search the internet, tweet, Facebook update, with your voice.
- Updated Garage band, iPhoto, and iMovie apps for iPad available (free if you already own)
- Available March 16th
- Preorders start today
- Prices start at $499 for 16GB WIFI ONLY
- 4G Price starts at $629 for 16GB with 4G