The Mortgage Reports

In January, I made this 5-minute video to illustrate how mortgage guideline changes are impacting American homeowners regardless of their income, assets or credit score.

If you haven't seen the video before, watch it now.  It's a story you need to hear.  If you have watched the video, watch it again and pay close attention to the end.

In the video's last 60 seconds, I wrapped up with a loose idea of where mortgage lending was headed.  In my head, I was talking 12-18 months down the road.

Turns out, it was 60 days.

The "core" of mortgage lending got shrunk this week and a lot of homeowners are now "outside the fringe".

• No Income Verification loans disappeared from lender mortgage menus
• Large "risk" fees now apply to mortgages, regardless of credit score
• Minimum credit score requirements for mortgages are higher

And, six months from now, mortgage guidelines will look even more different and the changes will be even more dramatic than what we're seeing today. 

So, if your personal situation is anything less than ordinary and your life plans call for a new home loan in the next year, start working with your mortgage planner now and get your strategy in place.

If you're not working with a mortgage planner or if you've been orphaned by your lender, reach out to me directly and we'll talk about your options.

The mortgage market contraction is accelerating and that makes "Wait-and-See" a losing strategy.  Take action now and get your plan together.

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Dan Green is an active loan officer. Reach Dan via email at or call toll-free to 877-DAN-GREEN.