lender

#63_Madison_Avenue #New_York_Life_Annex #Building_Buddy @BLDGBUDDY #Office #Architect #Carson_ and_Lindin #Office #Built #1961 #15_Stories #675986_sf #Owner #George_Comfort_and_Sons #Developer #New_York_Life #Debt #160M #Lender #Bank_of_China #Anchor_Tenant #New_York_Life #Sold #1995 ; This sleek #Madison_Square_Park building sits on the land that once housed the #Communist_party of the US ; more recently one of its anchor tenants #Ziff_Davis filed for #bankruptcy due to the innovations spurred by #capitalism (Taken with Instagram at 63 Madison Avenue)

Makes the point that national Appraisal Management Companies (AMC)s can smooth regulatory transitions for mortgage loan offices. Home loans going through have never been more dependent on regulatory compliance at each step along the way. The article makes the point that AMCs manage a lot of what the loan officer or brokerage has to take on if they use individual appraisers.

Mortgage Application

The process of heading towards the property ladder seems to be running smoothly thus far. Earlier today I met with my mortgage broker to go through all the important heavy paperwork.

It was daunting at first but the more I listened and took in, the better I felt. I went through interest rates, fixed terms, fees, processes, projected figures, outgoings, estimated utility bills, clauses and insurance.

The meeting lasted around ninety minutes and I’d turned up prepared with all the documentation I was asked to bring. My last three wage slips, bank statements, copies of my passport and driving licence and proof of funds.

Everything was assessed and analysed, various pieces of information were taken down, and my signature was placed on several official documents. My employers will now be asked to provide a formal written reference certifying authenticity of my employment with them. 

The mortgage application will be formally submitted to the lender and begin to work its way through their vetting process. I will be credit scored and tested to see if I am eligible to receive such a substantial loan.

My debit card details were taken and I will now be charged £350 for a survey to be undertaken on the property. This will prove for the bank’s purposes that it is worth the value stated and thereby provide adequate security for the mortgage. 

Property-buying is a long and complex process! But I’ll get there in the end. 

#1260_Broadway aka #Hotel_Martinique #Building_Buddy @BLDGBUDDY #Hotel #Architect #Henry_Hardenbergh #Built #1898 #16_Stories #278905_sf #533_keys #Ground_Lessee #Herald_Hotel_Associates #Ground_Lessor #Seasons_Affiliates #Developer #William_Martin #Hotel_Flag #Radisson #Debt #40M #Lender #JP_Morgan_Chase (Taken with Instagram at Radisson Martinique)

#100_Eleventh_Avenue #Building_Buddy @BLDGBUDDY #Multifamily #Architect #Atelier_Jean_Nouvel #Contractor #Gotham_Construction #2010 #Built #2010 #21_Stories #72_Units # #Developer #Cape_Advisors #Lender #Istar_Financial #Mezzanine_Lender #Pembrook_Capital_Management ; The #Jean_Nouvel #condo off the #Highline that people love to love or love to hate. Either way it’s quite expensive & far more interesting that the Selldorf next door (Taken with Instagram at 100 Eleventh Ave)

Bank of America’s mortgage servicing unit systematically lied to homeowners, fraudulently denied loan modifications, and paid their staff bonuses for deliberately pushing people into foreclosure: Yes, these allegations were suspected by any homeowner who ever had to deal with the bank to try to get a loan modification – but now they come from six former employees and one contractor, whose sworn statements were added last week to a civil lawsuit filed in federal court in Massachusetts.

“Bank of America’s practice is to string homeowners along with no apparent intention of providing the permanent loan modifications it promises,” said Erika Brown, one of the former employees. The damning evidence would spur a series of criminal investigations of BofA executives, if we still had a rule of law in this country for Wall Street banks.

Tighter Lending Crimps Housing

I want to shed some light on the “difficulties of obtaining a mortgage” in our current market. It is important for potential buyers and sellers to be aware that about 1 in 4 applications are denied by the top 10 national lenders.

As a buyer, remember to get started on your loan process immediately.   And as a real estate agent, part of my job is to help buyers find lenders that can “get the job done”. Please contact me if you need any assistance with your home buying or selling needs.
 


http://online.wsj.com/article/SB10001424052702304569504576405660006330644.html?

#1260_Broadway #Hotel_Martinique #Building_Buddy @BLDGBUDDY #Hotel #Architect #Henry_Hardenbergh #Built #1898 #16_Stories #278905_sf #533_keys #Ground_Lessee #Herald_Hotel_Associates #Ground_Lessor #Seasons_Affiliates #Developer #William_Martin #Hotel_Flag #Radisson #Debt #40M #Lender #JP_Morgan_Chase ; this #terra_cotta & #limestone clad #landmark is as beautiful from the back as she is from the front! (Taken with Instagram at Radisson Martinique)

#286_Fifth_Avenue #Building_Buddy @BLDGBUDDY #Office #Architect #Halsey_McCormack_and_Helmer#Built #1910 #11_Stories #44380_sf #Owner #286_Fifth_Realty_Corp #Developer #Contractor #CT_Wills_Inc #Lender #UBS #Securitization #JPMCC_2007_LDP_12#Anchor_Tenant #Art_of_Living_Foundation ; This 101 year old building once home to a number of #wine_merchants is now home to a #yoga_institute - globalization at work- It’s greatest fun fact was this it’s developer/contractor, one of George Fuller’s main rivals, chose this as his HQ (Taken with instagram)

I discovered micro finance as a Junior in college. Since then, it has become one of my biggest passions and a topic I find interesting, empowering, and generous. If you haven’t heard of micro finance, it is a way to give a loan as small as $25 to entrepreneurs all over to world. It can empower them to be able to continue their farming, clothing manufacturing, or in this case, a store. 

I really encourage you to check it out, even if it is not something that you feel you can afford financially at this time. To me, $25 can buy me a new t shirt..or it can be the money to change someone’s life. And usually as a consequence of the loan, it can help to make the life of the people around them better as well. 

Just Put in an Order

To have the Army deliver a crib/mattress and two chest of drawers for Patrick’s room! Since we are overseas, the government “loans” us furniture if we need it, so we are getting a lender crib so we don’t have to spend that money right now. They are going to be here in less than two weeks!!! 

Then we can start organizing his stuff, washing his clothes, putting crib sets together, and generally nesting like a crazy woman! I know I will still have 4 months before he is here (and a friend of mine is CLEARLY not happy that I already put in my request and she hasn’t been able to yet and is due two months before me…oh well, not my issue), but that’s less I have to worry about at the end.

Especially since apparently Aaron is going to the field the same month he is scheduled to make his appearance. 

UGH. Thank you Army. 

Anyway, we are so excited to be getting his furniture soon so we can start decorating and making his room all ready for him! =D

#316_Fifth_Avenue #Kaskel_and_Kaskel_Building #Building_Buddy @BLDGBUDDY #Office #Architect #Cady_and_Berg #Built #1903 #6_Stories #14636_sf #Owner #Bakal_Realty_LLC #Oved_Bakal #Developer #Kaskel_and_Kaskell_Co #Kaskel_Brothers #Lender #Industrial_Bank_of_Korea #Debt #1.3M ; This #beaux_arts former beauty on the border of #NoMad & #Koreatown once houses #Scher_Publishers ; built by one of the worlds leading tailors the brothers picked this location due its proximity to the old #Waldorf_Astoria ; unfortunately this once proud building whose developers made shirts for the likes of #Teddy_Roosevelt has been left to rot due to decades of deferred maintenance but like so many of its #NoMad neighbors it’s only a matter of time until glory is restored and for the detail oriented, look carefully for some amazing masonry & symbols (Taken with Instagram at 316 Fifth Avenue)