Industry News – 3.3.11

March Madness at Sierra Pacific, Stearns Lending and Plaza Mortgage  - Sierra Pacific is offering  an additional .25 on all locks for the month of March, while Plaza Mortgage and Stearns Lending are offering an additional .25 for all purchase loans (except USDA and 203K FHA products) locked in March.

Wells Fargo is continuing their purchase special of .25 on their agency 30 year fixed product (excluding the Freddie Super Conforming product). Wells is also offering an additional .25 on their government products.

Wells Fargo also reminds us that they have improved pricing adjustments on their non-conforming product, and their conforming 5/1 ARM for loan amounts below $300,000.

CMG Mortgage is offering .25 for all purchases, and .125 for all refinances locked at docs.

ICON Residential is offering .25 special for FHA purchases and all VA products.

First Cal is offering .125 improvement for all purchases on all programs.

Pinnacle Capital ended their 10 day ARM special of .250.

So many pricing specials, so little time to keep track of it all! Let ReadyPrice do the math for you – all pricing specials are included in the all-in price with our pricing and eligibility engine. Login to www.readyprice.com,  

Pinnacle Capital (Concord branch) reminds us about their CHF Platinum program – this is a first mortgage with a Down Payment Assistance Grant. Contact your account executive for details. Pinnacle Capital (Folsom branch) reminds about their improved pricing on their High-Balance 5/1 ARM.

Reunion Mortgage and Franklin American, following Flagstar Bank, suspended their 2/1 buydown products until further notice. Look for more lenders to follow suit. This action is a direct result of the upcoming Reg Z changes; lenders are looking for clarity from the Fed with regard to buydown charges.

Reunion Mortgage also introduced their Freddie products with no LP overlays.

First Cal has introduced their Express program – Fannie program with no DU overlays.

 
Look for more programs and lenders at www.readyprice.com.
 
Tip of the Week: You can make changes in your lender set up screen – manage, add, delete, or adjust your incentives in the Lender Set Up screen in ReadyPrice. For assistance, click on the following link for a very quick tutorial Lender Setup

Thank you -

The ReadyPrice Team

Industry News – 3.3.11

March Madness at Sierra Pacific, Stearns Lending and Plaza Mortgage  - Sierra Pacific is offering  an additional .25 on all locks for the month of March, while Plaza Mortgage and Stearns Lending are offering an additional .25 for all purchase loans (except USDA and 203K FHA products) locked in March.