Fremont, CA (PRWEB) July 16, 2012

Residents in Fremont and the San Francisco East Bay Area now have more options for Mortgage financing. Arcus Lending, a California Direct Mortgage Lender, recently opened a branch in Fremont, CA.

“Opening a branch office in Fremont is a strategic move for our company to better serve the needs of the clients living in the San Francisco East Bay Area”, Shashank Shekhar, Arcus Lending CEO stated. “By reaching into the East Bay we can further optimize the systems we have in place to offer great mortgage rates and legendary service for our clients ”.

The branch opening was kicked off with an exclusive event for Realtors based in the San Francisco East and South Bay. Noted real estate speaker and coach Rick DeLuca delivered great insights on “thriving in today’s real estate market”. “Arcus Lending’s core value of building relationships with clients is at the heart of their success and the services they offer to the realtor community are rare indeed”, DeLuca said.

Now also a Fremont Mortgage Company, Arcus Lending offers mortgage loans for residential properties and specializes in diverse loan programs such as FHA, VA, Homepath, HARP, Jumbo and Conforming mortgages. Arcus Lending is able to shop for the best mortgage rates for their clients and close loans quickly.

Arcus Lending, in business since 2008, prides itself on providing exceptional client service. This is reflected in more than 30 five star rating on Yelp and Google Places. In fact, Arcus Lending is one of the few mortgage lenders in the area which was awarded the “we are a favorite place on Google” sticker. Arcus Lending has built a solid business in California by educating and empowering its clients to take the right decisions when it comes to mortgage financing.

Mr. Shekhar leads the team at Arcus Lending. Shashank is widely regarded as “California’s #1 Mortgage Expert”. He is the author of the widely acclaimed book – “First Time Home Buying 101″ and he writes one of the top mortgage blogs in the country – “Lending Expert Blog”. He is a sought after industry speaker and has been featured on several national media.

Arcus Lending

39656 Mission Blvd

Fremont CA-94539

(510) 896-8150

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/7/prweb9695168.htm

Article source: http://www.sfgate.com/business/prweb/article/Fremont-Mortgage-News-Arcus-Lending-Opens-a-New-3709177.php

Fremont, CA (PRWEB) July 16, 2012

Residents in Fremont and the San Francisco East Bay Area now have more options for Mortgage financing. Arcus Lending, a California Direct Mortgage Lender, recently opened a branch in Fremont, CA.

“Opening a branch office in Fremont is a strategic move for our company to better serve the needs of the clients living in the San Francisco East Bay Area”, Shashank Shekhar, Arcus Lending CEO stated. “By reaching into the East Bay we can further optimize the systems we have in place to offer great mortgage rates and legendary service for our clients ”.

The branch opening was kicked off with an exclusive event for Realtors based in the San Francisco East and South Bay. Noted real estate speaker and coach Rick DeLuca delivered great insights on “thriving in today’s real estate market”. “Arcus Lending’s core value of building relationships with clients is at the heart of their success and the services they offer to the realtor community are rare indeed”, DeLuca said.

Now also a Fremont Mortgage Company, Arcus Lending offers mortgage loans for residential properties and specializes in diverse loan programs such as FHA, VA, Homepath, HARP, Jumbo and Conforming mortgages. Arcus Lending is able to shop for the best mortgage rates for their clients and close loans quickly.

Arcus Lending, in business since 2008, prides itself on providing exceptional client service. This is reflected in more than 30 five star rating on Yelp and Google Places. In fact, Arcus Lending is one of the few mortgage lenders in the area which was awarded the “we are a favorite place on Google” sticker. Arcus Lending has built a solid business in California by educating and empowering its clients to take the right decisions when it comes to mortgage financing.

Mr. Shekhar leads the team at Arcus Lending. Shashank is widely regarded as “California’s #1 Mortgage Expert”. He is the author of the widely acclaimed book – “First Time Home Buying 101″ and he writes one of the top mortgage blogs in the country – “Lending Expert Blog”. He is a sought after industry speaker and has been featured on several national media.

Arcus Lending

39656 Mission Blvd

Fremont CA-94539

(510) 896-8150

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/7/prweb9695168.htm

Article source: http://www.virtual-strategy.com/2012/07/16/fremont-mortgage-news-arcus-lending-opens-new-office-fremont-ca

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PALO ALTO, Calif., Aug. 9, 2011 /PRNewswire/ — Opes Advisors, a premier wealth management and residential mortgage banking firm, is pleased to announce that Mortgage Advisor Steve Papapietro has joined Opes Advisors in our Palo Alto office. A Bay Area native, Steve has more than 17 years in the mortgage industry and has assisted thousands of families to become successful homeowners. Steve has consistently achieved President Club designation year-after-year and in 2005 was ranked number one nationally in purchase and total volume for First Horizon Home Loans.

Steve commented, “As a native of the Bay Area and my many years in mortgage banking, I have a deep understanding of the unique attributes of real estate and the housing market. I’m passionate about helping home buyers with their mortgages and I couldn’t be happier to be with Opes. Their commitment to excellent service and financial integrity is a perfect fit for me.” Susan McHan, Opes Advisors CEO, commented, “Steve has an exceptional track record in the Bay Area. He guides clients with his knowledge and resourcefulness, and has proven time and again that building strong relationships is essential to helping clients make big financial decisions with confidence. We’re thrilled that Steve has joined Opes.”  

Steve Papapietro Contact Info

Steve Papapietro is a licensed Mortgage Advisor (CA DRE 00993899 and NMLS 633683). He can be reached in the Opes Palo Alto office at 650-319-1642 or spapapietro@opesadvisors.com.

Opes Advisors Palo Alto

Opes Advisors Palo Alto office is located at 555 College Ave, Palo Alto, CA 94306. Office hours are 8:00 a.m. to 5:00 p.m. Phone 650-931-1600. Appointments and walk-ins are welcome.

About Opes Advisors

Opes Advisors is a premier financial advisory services firm that enables clients to make effective financial decisions for today and for their retirement. Through direct offers of wealth management, residential mortgages and real estate investment advisory services, Opes Advisors considers each client’s complete personal balance sheet to improve the outcomes of the financial choices of life. Opes Advisors has offices in Palo Alto, Lost Gatos, San Mateo, Larkspur, San Francisco, Sonoma and Santa Cruz, and Eugene, Oregon. Opes Advisors is licensed by the CA Dept. of Real Estate #01458652 and NMLS identifier 235584. Equal Opportunity Lender. Opes Advisors is a registered investment advisor with the Securities and Exchange Commission (SEC).

www.opesadvisors.com.

SOURCE Opes Advisors, Inc.

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Article source: http://www.prnewswire.com/news-releases/mortgage-advisor-steve-papapietro-joins-opes-advisors-palo-alto-office-127318283.html

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PALO ALTO, Calif. and SAN MATEO, Calif., Aug. 8, 2011 /PRNewswire/ — Opes Advisors, a premier wealth management and residential mortgage banking firm, is pleased to announce that Mortgage Advisor Ed Diaz has joined Opes Advisors San Mateo. Ed has been providing individuals and families with exceptional mortgage services for more than 20 years. His background includes expertise in financial services, credit consulting and mortgage banking. Ed currently serves as president of the National Association of Hispanic Real Estate Associates (NHORA) of San Francisco and is a founding member of both the Bay Area Networking Group and BNI of Mill Valley.

Ed commented, “My focus has always been on providing mortgage guidance and advice that promotes sustainable home ownership and long-term financial security, and I’m thrilled to offer these services to my clients through Opes Advisors.” San Mateo Branch Manager Julie Thall noted, “Ed’s focus on understanding his client’s financial objectives within the context of their mortgage has enabled him to add real value to the mortgage process. Additionally, he has a strong network of relationships throughout the Bay Area, and his leadership in the real estate and business communities make him a wonderful addition to the San Mateo team.”

Ed Diaz Contact Information

Ed Diaz is a licensed mortgage advisor (CA DRE 01313063 and NMLS 249808). He can be reached in the Opes San Mateo office at 650-319-0616 or ediaz@opesadvisors.com.

Opes Advisors San Mateo

Opes Advisors San Mateo branch office is located at 411 Borel Avenue, Suite 320, San Mateo, CA 94402. Office hours are 8:00 a.m. to 5:00 p.m. Phone 650-931-0600. Appointments and walk-ins are welcome.

About Opes Advisors

Opes Advisors is a premier financial advisory services firm that enables clients to make effective financial decisions for today and for their retirement. Through direct offers of wealth management, residential mortgages and real estate investment advisory services, Opes Advisors considers each client’s complete personal balance sheet to improve the outcomes of the financial choices of life. Opes Advisors has offices in San Mateo, Los Gatos, Palo Alto, Larkspur, San Francisco, Sonoma and Santa Cruz, and Eugene, Oregon. Opes Advisors is licensed by the CA Dept. of Real Estate #01458652 and NMLS identifier 235584. Equal Opportunity Lender. Opes Advisors is a registered investment advisor with the Securities and Exchange Commission (SEC). www.opesadvisors.com.

SOURCE Opes Advisors

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http://www.opesadvisors.com

Article source: http://www.prnewswire.com/news-releases/mortgage-advisor-ed-diaz-joins-opes-advisors-san-mateo-office-127267428.html

The share of distressed sales in May, that is foreclosed properties and short sales (when the property is sold for less than the value of the loan), fell to 31 percent of all sales from 37 percent in April. Investors, who purchase a large share of these distressed properties, also represented a smaller share in May. So what’s going on?

We know there is still a huge supply of bank owned (REO) properties, and we also know that banks are pushing short sales on many more properties than ever before. But they are also pushing REO sales, thanks to new sales incentives from lenders and the GSE’s (Government-Sponsored Enterprises).

“Realtors and mortgage loan officers nationwide are driving mid-to-high end organic, short and distressed sales on the fear that buyers will be unable to qualify for loans once the QRM (Qualified Residential Mortgage) rules are in place requiring 20 percent down,” says mortgage market analyst Mark Hanson, describing new rules being considered for risk retention by banks (part of the banking overhaul legislation passed last summer).

Some bloggers though, writing in to me after the existing home sales report, claimed that Fannie and Freddie are holding on to REOs, trying to game home prices. Fannie strongly disputes that.

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Article source: http://www.cnbc.com/id/43483088?__source=RSS*blog*&par=RSS

To call it an uneasy alliance is too simple, but that’s exactly what the characters were going for when they called their morning press conference in downtown DC.

The new president of the Mortgage Bankers Association, Dave Stevens, arrived carrying a message from Wall Street and Main Street money makers in the breast pocket of his navy blue suit; he was seated in a row just down from Ethan Handelman of the National Housing Conference, who sported a pony tail and an agenda favoring low-income borrowers.

In between them was Ken Edwards, of the Center for Responsible Lending, who referred to the group as, “an eclectic mix.”

Adversity makes strange bedfellows, and today’s mortgage market is nothing short of adverse. The group came together to argue against what Edwards called “draconian requirements” for a the proposed “Qualified Residential Mortgage” (QRM) standard. The QRM is part of new risk retention rules, mandated by the Dodd-Frank Financial Reform legislation of last year. The proposal, which is under comment period until the end of next week, includes a 20 percent down payment for a home loan to qualify as a QRM. If the loan does not meet the QRM standards, the lender must hold on to 5 percent of the risk.

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Article source: http://www.cnbc.com/id/43257844?__source=RSS*blog*&par=RSS

It’s no surprise that the private mortgage insurance industry is fighting hard against proposed new risk retention rules for the mortgage industry.

They are already trying to pick themselves up and dust themselves off from the near knockout punch the Federal Housing Administration (FHA) gave them, when the government mortgage insurer took over their market share while saving the housing market from complete and total bust.

The FHA became the only game in town for the less credit-worthy borrowers with lower down payments. Now, just when the private guys are trying to get back in the game, they’re getting battered again.

The proposal for a “Qualified Residential Mortgage,” which would be exempt from 5 percent risk retention by the banks, which of course the banks don’t want to retain, requires, among many things, that the buyer put 20 percent down on the home.

“We do not believe that affordability and sustainability are mutually exclusive goals,” Kevin Schneider, president of the Mortgage Insurance Companies of America testified before Congress yesterday (he’s also CEO of U.S. Mortgage Insurance of Genworth Financial [ GNW 12.26  +0.00 (+0.00%) ]). “We understand the drivers of sustainable, affordable homeownership because the private MI industry has a vested interest in assuring that low down payment homebuyers purchase homes with loans that they can afford to pay over time.”

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Article source: http://www.cnbc.com/id/42613396?__source=RSS*blog*&par=RSS

When it rains, it pours, but we’re looking at a hail storm in housing finance this week, as government starts the business of taking itself out of the housing business. Tomorrow morning the FDIC will release and vote on proposed risk retention rules for the mortgage market. This includes the “Qualified Residential Mortgage” definition. A QRM would be exempt from risk retention, where the banks have to hold on to 5 percent of the risk when securitizing loans.

The QRM will likely require a 20 percent down payment on the loan, as well as other underwriting criteria, and loans sold to Fannie and Freddie (while still in conservatorship), as well as FHA loans, would be exempt. At the same time, Fannie, Freddie and the FHA are making themselves more expensive, as they try to shrink their currently overwhelming market share.

Barely a few hours after the vote, House Republicans will introduce a slew of, possibly six, bills designed to reform/shrink/eliminate Fannie and Freddie. Then comes more at a hearing on Thursday on housing finance. All of this begging the question: Without Fannie and Freddie, does the 30-year fixed still exist in a fully private market? And what are the dangers if it doesn’t?

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Article source: http://www.cnbc.com/id/42309859?__source=RSS*blog*&par=RSS

Yesterday morning I attended the FDIC’s background press briefing before the vote on proposed risk retention rules.

While the rules covered a vast ground, I was of course most interested in those that focus on the “Qualified Residential Mortgage.”

The QRM would be the exemption from risk retention, and therefore banks would want most borrowers to fall under the QRM standard.

A few moments after we reporters sat down at the big conference table, FDIC representatives clunked down a huge document in front of each of us. Then another, then another: Well over 200 pages of what these proposed rules are all about. Thankfully, they then had some other FDIC folks explain to us exactly what we needed to know. I then ran out onto the balcony camera and reported the three top points…20 percent down payment, debt to income ratio requirements and various servicer rules.

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Article source: http://www.cnbc.com/id/42341427?__source=RSS*blog*&par=RSS