Legacy Lending Group

Thank you to my team both on the investment bank side and inside, namely Riley Shepherd, for making me shine. Rock n roll!

Love getting praise from the number one wholesale mortgage bank in the USA!! And I hear other bankers taking 30 to 60 days to close their refinances, c'mon now a little effort!!

Want to refinance and not lose any years of payments? I've got you covered! Call me today to discuss your totally customizable loan term. I can write your custom note from 8 to 30 years so if you have only 17 years left on your loan, we can do a 17 year fix. You call the term, I'll write the mortgage!!! Talk to you soon, Josh 818-426-0322

Hang on to your real estate!!

Our speaker this morning is Josh Ellis our Chapter's Mortgage Consultant with Legacy Lenders. Joshg has been a member of our chapter for over 6 years and has h...eld many positions within our chapter's leadership team. Josh's key to success: "To keep his client's best interests first!!" Josh started by telling us about the changes in the mortgage market throughout the pandemic. While sales are down a bit, refinancing numbers are WAY up! Next Josh talked to us about the great low rates that are now available in the mortgage market and what a great time it is to refinance your current mortgage whether it is to reduce your payment, pull some equity out for home projects, or a bit of both. Josh then explained to us how smallest change in your interest rate can have a big influence on your monthly payment amount. Looking for a new mortgage? Looking to refi? Talk to Josh today! Josh Ellis Legacy Lending 818-426-0322 [email protected]

The loan for current borrower went from submission to CTC in just 18 days that’s really fast! It was submitted on August 18, 2020 and received the CTC on September 14, 2020 with a rate of 2.25%! Great work Josh Ellis and Legacy Lending Group, Inc.!

Today’s operations update

Sentiment from two of the greats, Barry Habib of the Mortgage Backed Security Hwy and Frank Garay of the NREP.

Don't hate to be a broken record nor will I ever get tired of saying "Rates Are In The 2's". On top of that my staff is blazing fast. Thanks, Legacy for the support and relentless work ethic.

How can it be? To say the U.S. real estate market is resilient is to date an understatement, but more will be revealed.

http://www.mortgagenewsdaily.com/05192020_covid_19_response

BREAKING NEWS: As always call me to discuss specific situations regarding your mortgage financing: 818-426-0322 Important Update: Eligibility of Borrowers in Forbearance and Additional Documentation Requirements... On May 19, 2020, FHFA announced that Fannie Mae and Freddie Mac (the Enterprises) issued temporary guidance that provides a path to home financing for borrowers who are in forbearance or have recently ended their forbearance. My investment banks are aligning with the Fannie Mae and Freddie Mac requirements. Borrower Eligibility in Forbearance Per Fannie Mae and Freddie Mac, borrowers are eligible to refinance or buy a new home if they are current on their mortgage (i.e. in forbearance but continued to make their mortgage payments or reinstated their mortgage), or three months after their forbearance ends and they have made three consecutive payments under their repayment plan, or payment deferral option or loan modification. Additional Documentation Requirements In addition, the Enterprises have added documentation requirements applicable to all loans, regardless of forbearance status, to verify that all mortgages for which the borrower is obligated on are current. These guidelines are effective for all Fannie Mae and Freddie Mac eligible loans with application dates on or after June 2, 2020. Regardless of forbearance status, additional documentation must be obtained for each mortgage loan on which the borrower is obligated, including co-signed mortgage loans and mortgage loans not related to the subject transaction, to determine whether the payments are current as of the note date of the new transaction. Acceptable methods to document the loan file include: a loan payment history from the servicer or third-party verification service, or a payoff statement (for mortgages being refinanced), or the latest mortgage account statement from the borrower, or a verification of mortgage Refer to Fannie Mae Lender Letter 2020-03 updated May 19, 2020, and Freddie Mac Guide Bulletin 220-17 for the complete announcement.

Want peace of mind knowing your low rate won’t change? We shop around with a variety of lenders to get you the best rate for your situation!

Extremely valuable insights on equities markets and interest rates during this global pandemic. Portfolio advice covering most industries with references to past bear markets and advice for future positioning.

One of my favorite mortgage investment banks is back and going strong. Call me to inquire. https://www.housingwire.com//uwm-now-offering-interest-ra/

Open door is horrible. Sellers don’t get taken advantage of! Sellers beware!