http://www.traderplanet.com/blogs/morningsidemortgage Grant Stern of Morningside Mortgage shares his analysis of the current mortgage industry. Wed, 17 Jun 2009 05:23:02 +0000 http://backend.userland.com/rss092 en From the Wall Street Journal A nationwide glut of new condominiums has prompted developers to use new marketing ploys to sell their units. One increasingly popular move: get a government stamp of approval for the entire building. From the Wall Street Journal The approval, from the Federal Housing Administration, means potential buyers can ... http://www.traderplanet.com/blogs/morningsidemortgage/2009/06/17/fha-condo-approval/ As posted in the Miami Herald article called "Mortgage Rates Rise": ''It's going go start to put a damper on the activity but not a whole lot,'' said Grant Stern, president of Morningside Mortgage in Bay Harbor Islands. ``Fortunately, prices have been steadily dropping off for a long time at this ... http://www.traderplanet.com/blogs/morningsidemortgage/2009/06/13/mortgage-markets-regain-health-with-adverse-impact-on-rates-as-they-rise/ "I have waited a lifetime Spent my time so foolishly But now that Ive found you Together we'll make history" Open up the door, wont you open up the door?" - Foreigner - Feels like the first time Nothing says generational change like the wave of first time home-buyers rifling through the nation's bulging new ... http://www.traderplanet.com/blogs/morningsidemortgage/2009/05/29/first-time-homebuyer-tip/ As seen in Bloomberg News A good-credit borrower who could have gotten a 4.625- percent 30-year mortgage on May 22 and a 4.875-percent loan yesterday will probably be offered a rate of 5.25 percent tomorrow, according to Grant Stern, the owner of Morningside Mortgage Corp., a brokerage in Miami Beach, Florida. Today, ... http://www.traderplanet.com/blogs/morningsidemortgage/2009/05/27/mortgage-bond-yields-jump-jeopardizing-fed%e2%80%99s-housing-effort/ ‘Drag Me to Hell’ Turns Home Lending Into Horror Show (Update1) - Bloomberg.com.   Yes, it is my solemn duty to defend my profession from Hollywood The Cannes Film Festival hosts a midnight screening of “Drag Me to Hell” this month amid public rage at home lenders that led to U.S. hearings about their ... http://www.traderplanet.com/blogs/morningsidemortgage/2009/05/14/%e2%80%98drag-me-to-hell%e2%80%99-turns-home-lending-into-horror-show-update1-bloombergcom/ Miami's vertical homebuilders are slowly waking up to the reality that the Government backed mortgage loan will be the only way to sell off bloated inventories of condos. The FHA mortgage is the clear choice of new home buyers and represents the only legitimate option for vertical homebuilders to ... http://www.traderplanet.com/blogs/morningsidemortgage/2009/05/11/fha-is-the-only-solution-for-market-sales-in-new-construction-condos/ Buyers stymied by tough rules on condos - Business - MiamiHerald.com.   Complex federal rules that make it extremely tough for buyers to qualify for loans in many South Florida projects, unless they pony up steep down payments. Those rules, recently made even more rigid, could undermine any recovery in the region's depressed ... http://www.traderplanet.com/blogs/morningsidemortgage/2009/04/20/buyers-stymied-by-tough-rules-on-condos-business-miamiheraldcom/ This is a new column I will be writing weekly for CondoVultures.com, a news and information website by Peter Zalewski.  His company is the premier market research company for the South Florida condo market and represents bulk buyers, as well as having a real estate brokerage of the same name, ... http://www.traderplanet.com/blogs/morningsidemortgage/2009/04/20/broken-condominiums-condovulturescom/ Yes, this is my quote for the year.  Thank you Bloomberg News for noting that I say these days which is "I own a mortgage company, And I'm still in business" :)  Lol.  It's an odd feeling personally.  I got into the business at a time when you could go to ... http://www.traderplanet.com/blogs/morningsidemortgage/2009/04/02/rates-are-great-but-its-very-tough/ Fannie Mae has launched a website called HomePath to sell off it's book of  real estate owned (REO).  In addition, they have rolled out a new loan program with the same name to facilitate faster sales of these REO properties.  My company, Morningside Mortgage is eligible to issue loans for these properties ... http://www.traderplanet.com/blogs/morningsidemortgage/2009/03/13/is-homepath-a-yellow-brick-roadi/