Clarion Mortgage Capital,
has discontinued originating
and ceased operations on July 31,
Clarion sold the notes they originated
and did not service the notes they sold. Since Clarion ceased operations the files are no longer
available. You can have your title company run a search for the new lender or ask your client where and to
whom they are sending their mortgage payments. If you
came to this site trying to find the owner of your note that was originated by Clarion Mortgage you are out of
luck. If you are looking to refinance your note with Clarion Mortgage I can help
I am now with Tandem Mortgage. We are a full service mortgage lender in
California. You can reach me at firstname.lastname@example.org or (818) 326-1915. I'm available to
answer all your questions.
and hit the "Apply Online"
Facts about Adjustable Rate
save borrowers monthly and annually throughout the entire fixed term. (No Surprise here – see Example #1 & #2 below)
Over 85% of ALL borrowers either sell or refinance in approximately 6
years (according to published Freddie Mac data). Just look at
your borrower’s credit reports. The refi’s don’t lie.
ARM’s pay down the principal quicker. Again, ARM’s pay down the principal quicker. It’s true. With a lower
interest rate – the borrower pays less interest (Shocker, I know). Therefore, more money goes towards
principal. (See Example #3 below)
ARM loans adjust S L O W L Y . Even after the Fixed term of the ARM has passed, the benefits of an ARM last well
beyond the fixed number of years. The “Cap Structure” for a 7Yr ARM is 5/2/5 (see ARM Basics at bottom
of email). This means the following: After the fixed number of years have passed, 1) The first
adjustment can be no higher than 5% (Initial Cap), 2) Every adjustment after the first cannot exceed 2%
(Periodic Cap), 3) The max amount a rate can adjust up over the life of the loan is 5% (Lifetime Cap).
Each adjustment (if applicable) would occur on an annual basis.
That being said, let’s use the following
comparison: 30 Yr $400k l/a @ 4.125% -V- 7 Yr $400k l/a @ 3.625% (see Example
If the rate increased by .25% every year after the
first 7 fixed years and maxed out at 8.625%,the 7 Yr ARM @ 3.625% would be more attractive than the 30 Yr @ 4.125%
through the first 15 years and 9 months. 15 years
of benefit. (see Ex #2, #3 &
#4) How many people refinance more than once every 15 years?!
#1: 30 Yr, $400k l/a @ 4.125% rate –v- 7 Yr, $400k l/a @ 3.625% rate
i. Monthly Savings: $114.39
b. 7 Year
Payment Savings: $9,608.76
c. Principal paid down an additional $4,011.77
TOTAL 7 Yr Savings= $13,620.53
Total 15 Yr 9 Mos Savings=
Are you a first time home
Let us look at some of the advantages of FHA loan
• One of the biggest advantage of FHA loan is that it can reduce the down payment to as low as
3.5% on the purchase price. This is an advantage for borrowers who are unable to pay the traditional 20% of
down payment. In addition, this loan includes your closing costs and other fees too. This eventually reduces
your overall cost and helps you buy your first home easily.
• You can even take up a loan to purchase your dream home immediately, fix it as well as
include all the costs in one loan only. This will help you keep track of your down payments
• For senior citizens, FHA loan can prove to be a boon for them as it can help them to convert
a small portion of equity into cash and have a low loan balance.
• Another advantage of FHA loan is that it provides same interest rate to all its
• People having low credit, undergone a bankruptcy, or low bank balance can still be qualified
for FHA loan. You get qualified for a loan as long as you do not have any negative history on your credit
You can contact Craig Daniger from Catalyst Lending to talk about an FHA loan and can help you
get the loan and turn your dream of buying a new home for your family into reality.
homebuyers overestimate costs of homeownership
Potential first-time homebuyers are vastly overestimating the costs of homeownership, according to a recent
survey by NeighborWorks America, a nonprofit support network for homeowners. Some survey respondents overestimated
the costs of basic home repairs and maintenance by several thousand dollars.
The survey reports the actual costs of home maintenance and upkeep to be anywhere between $2,000 and $6,000 a
year nationwide. Home maintenance costs include:
pest control; and
regional necessities, such as air conditioning or heating costs.
Despite first-time homebuyers’ educational shortcomings, they are correct in assuming California homeownership
costs are higher than most other states – the California price premium. California’s coastal area properties and
urban homes, for example, are more expensive to purchase and maintain.
However, information is critical for first-time homebuyers to become comfortable with the idea of owning a
home. Buyers who overestimate costs out of ignorance are susceptible to being taken advantage of by mortgage
lenders and accepting more onerous financing terms– confirming the buyer’s misinformed assumptions and costing them
more money than necessary.
Real estate agents, with their unique position as gatekeepers to entry into the real estate market, can combat
these overestimations by counseling first-time homebuyers. An agent’s ability to define the necessary costs of
homeownership and guide buyers through the process of selecting a mortgage makes them a valuable educator.
The public’s dependence on a sales transaction agent is an opportunity to positively affect the housing market
by setting realistic expectations for enduring homeownership. Otherwise, misinformed homebuyers will avoid the
market or wish they had, making life difficult for agents.
Re: “NeighborWorks America survey finds student debt, mortgage market confusion, and a declining marriage rate
are weights holding back the housing market,” from NeighborWorks America
Credit Repair Company Alert!
I recently had an unfortunate interaction with the Score
Optimization Systems (S.O.S)
credit repair company. The worst $795 ever spent. They do not back up
their guarantees. They would not refund our money. For four months they held up my borrowers and did not perform. They
ended up having the credit bureaus dismiss our challenges as
frivolous. I had to switch to a new repair company to do what they could
not. If you get a call from Gene Schwalen do yourself a favor and hang up. Please call me for the full