Category: Uncategorized

What is a Mortgage Banker, Anyway?

May 16, 2014 Marc Edelstein Uncategorized 0 Comments

People sometimes ask me what it means that I am a mortgage banker. They think “banker” and think “guy who helps with my checking account,” but a mortgage banker is really the “guy who helps me get the best mortgage. Ever.” In all seriousness, a mortgage banker is simply someone who works for a mortgage […]

Happy New Year!

January 1, 2014 Marc Edelstein Uncategorized 0 Comments

Happy New Year from me and my team. Whatever your plans tonight, please stay safe and enjoy yourself. As we look to next year, there are many great things on the horizon for the mortgage industry, especially here in Michigan. For more information on these changes, check out my blog in the new year or […]

Dodd-Frank Ability to Repay Rule DTI Limits

December 18, 2013 Marc Edelstein Uncategorized 0 Comments

As I mentioned last week, the Dodd-Frank regulations going into effect on January 10th will have a significant impact on both the mortgage industry and individual borrowers. Under the new regulations, there are a number of requirements to classify a mortgage as a Qualified Mortgage, and if a mortgage does not meet these stringent guidelines […]

Foreclosure Myths

November 27, 2013 Marc Edelstein Uncategorized 0 Comments

The last few years have been great for people looking to buy homes inexpensively. And what I have seen is a lot of professional flippers and investors doing really well in the current market, while average home buyers are not fairing so well. This contrast comes largely from the appetite which investors have for foreclosures. […]

What is an Adjustable Rate Mortgage?

November 15, 2013 Marc Edelstein Uncategorized 0 Comments

Adjustable rate mortgages, or ARMs, for short, are mortgages with interest rates that can change over time. These mortgages have an initial fixed rate for a period of time which will “adjust” at the end of that predetermined timeframe. Then, the interest rate will reset every year thereafter. These mortgage offer lower payments upfront, but […]