What's Next In The Mortgage Market for 2010?

Happy Holidays to You!

As we approach the end of 2009, it’s time to thank the people that have helped us become what we are here at Dundee Mortgage. To all of our loan clients this past year, we offer you our sincere thanks for putting your trust in us to handle your home lending transactions. They say in our business that you’re only as good as the people you work for think you are, and we try very hard to be the best at what we do.

To our business partners, we also say thanks. Building a new mortgage company from the ground up takes strong partners that you can trust to do things the same way we do. So to Missouri River Title, DRI Title, Residential Appraisals, and everybody we rely on to help us get things done, we say thank you as well.

2010 is going to be interesting.

In coming weeks, you’re going to see information here about the changes coming to our industry. We touched on it earlier, and we are going to expand the information we give out to help you understand the lending environment we live in going forward. Not since 1972 ushered in the era of regulated home lending have we seen changes like this, and we’re going to be your source for everything you need to know. But first, a little about what Terry and I think the market is going to look like next year.

I’ve had conversations lately with realtors, lawyers, bankers, and all kinds of industry watchers that think the real estate market is in for a banner year. There is a lot of pent up demand with the home buying public, and it’s only a matter of time before that demand hits the streets. Interest rates started 2009 in the low 5% range, and they’re still there today with no real indication that they are going to rise sharply any time soon.

Couple that with people that have been waiting for their economic outlook to improve before they decide to consider a move up in home price or a first-time home purchase, and we think things are going to really start heating up. There is still a ton of inventory available in the Omaha market, and we think that it will be the best time to buy and sell a home since 2007.

Stay tuned for our next update on what you can expect when you apply for that home loan in 2010.

Welcome to My NEW HD Video Blog! - The New Mortgage Market - What You Should Know!

Welcome to my NEW HD Video Blog!

For those of us that have been in the mortgage origination business as long as we have here at Dundee Mortgage Services, the changes that have come to our industry over the last year have truly amazed us. No longer can you show up at the doorstep of a mortgage lender and simply sign an application and be approved for a mortgage. No longer can you make the assumption that if you have a stable job and a reasonable credit history that there will be a financing vehicle available to you for the home you currently own or would like to purchase. Those were assumptions that our industry made until very recently.

Now more than ever, consumers in the market for a mortgage need a company that understands this. The upheaval that this economy has endured due in large part to the collapse of the mortgage financing industry has caused our business to entirely remake itself, and the changes have been dramatic. Now more than ever, consumers need the experience, integrity and organizational skill that very few companies can offer. We saw the need to change the way a mortgage is delivered to the marketplace, and almost two years ago, Dundee Mortgage Services was created to address the new process of what originating mortgages has become – just as we predicted.

Why us? What makes us different?

Plenty. Let’s start with our ability to offer every loan program on the market today. FHA, VA, Conforming Conventional and USDA Rural Development loans are all here, and we have the ability to shop multiple lenders for each product. Larger institutions generally offer these products with their own set of underwriting guidelines and do not choose to offer the same products with competing lenders. We can look at many sources for the same loan product, and in today’s restrictive lending environment, this can prove to be an invaluable asset for you and your mortgage originator to have.

Secondly, we have a loan program that is unique in the Conventional Conforming loan world today. This product is offered exclusively by Dundee Mortgage Services in the Omaha market, and what we like about it most is our ability to underwrite the file right here with our own people. This takes mortgage lending back to what it was during the days of stable lending practices – a manual process that takes into account all factors important in making a sound lending decision – not simply what the borrower’s credit score happens to be that day. This approach to lending is good for both the lending institution and the borrower. We offer competitive interest rates, low fees and the ability to make your mortgage payment right here. If there is a question about anything at all that has to do with the mortgage, you can get your answers from the people that originated it since we do not sell the servicing of these particular loans.

Third and possibly most important is the experience and integrity that our team brings to the process. Taken collectively, we have over sixty-five years of experience originating mortgages of all types, an asset that is very hard to duplicate in any company dedicated exclusively to originating mortgage loans. This proved to be of the utmost importance as our industry changed drastically over the last two years because it gave us the knowledge base to fall back on as we re-created the company and positioned it for the future. No where in the market will you find a group of individuals that keep the interests of the borrower more front and center than here at Dundee Mortgage.

The next time you’re in the market for a real estate loan of any kind, you owe it to yourself to contact us at 402.301.4500 or twilliams@dundeebanking.com and experience the way we do business. We guarantee you’ll be impressed.