Author Archives: Superior Mortgage Lending LLC

About Superior Mortgage Lending LLC

Superior Mortgage Lending LLC is a full service mortgage broker located in Las Vegas, Nevada. Our goal is to provide excellent service to you throughout the process. NMLS # 372130 Nevada License # 3582 California License # 603K964 Arizona License # 0119906 8867 W Flamingo Road STE 200 Las Vegas, NV 89147 (702)507-4170 / www.superiorml.com

Builder Confidence: Strong but Unchanged, Material Costs Rising

As analysts had expected, the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) remained at 68 this month.  The reading still indicates a strong level of builder confidence in the new home market, but the HMI has been … Continue reading

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Financing a Condo? Recent Guideline Changes Could Make a Big Difference

Fannie Mae recently made some fairly big changes to the condo underwriting process.  While it may not affect everyone in the market for a condo, it will make all the difference for others.  MND community member Ted Rood provided this … Continue reading

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Tax and MI Products; Sample of Vendor Updates; Hedging Long-Term Locks

Here’s something that’s kind of interesting. Half of all zero net energy homes have been built in California. “Cali,” a nickname despised by residents, has bold goals for all residential new construction to achieve ZNE (zero net energy) by 2020. Other … Continue reading

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Existing Home Sales Below Expectations for Second Month

Analysts were expecting existing home sales to rebound in May after they fell behind year-ago levels in April.  However, the National Association of Realtors® (NAR) reported a second straight monthly loss, with the Northeast the only region where sales improved. Sales … Continue reading

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Lenders Remain Pessimistic about Demand, Profits

Last week the Mortgage Bankers Association said that independent mortgage bankers had reported negative production revenue in the first quarter of this year. This week Fannie Mae reminded us that lenders have long expected it to happen.    The company’s Mortgage … Continue reading

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The Ever-Changing World of Private Mortgage Insurance; Capital Markets

Residential lenders aren’t the only ones having a tough time out there. Builder Hovnanian reported a Q2 loss of $9.8 million. The Social Security program’s costs will exceed its income this year for the first time since 1982, forcing the … Continue reading

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After Long Search, MBA Finds New Leadership

A nine-month search for a replacement for David H. Stevens as president and CEO of the Mortgage Bankers Association (MBA) ended today with the selection of Robert D. Broeksmit.  Broeksmit is a Certified Mortgage Banker (CMB)  and current president and chief … Continue reading

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Residential and Private Construction Numbers Solid in April

April turned out to be a solid month for construction.  The Census Bureau said that dollar value of new construction activity on residential, non-residential, and public projects was at a seasonally adjusted and annual total of $1.31 trillion.  This represented a … Continue reading

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Non-QM and Digital Products; Global Events Driving our Capital Markets

Plenty of people I know agree with the this Forbes article titled, “We Have Learned Nothing From The Mortgage Market Meltdown.” Builders are reducing labor costs by using premanufactured products that also require low maintenance. And what’s not to like about taking … Continue reading

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Existing Home Sales Reverse Course, Down 3%

Existing home sales put an end to two straight months of gains, retreating in April on both a monthly and annual basis.  The National Association of Realtors® said the sales of single-family homes, townhouses, condos, and cooperative apartments dropped by 2.5 … Continue reading

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