of documents that need to be notarized. This is the precursor to RON (Remote Online Notary) closings where the entire closing can be done electronically. It will be interesting to see if people really want RON closings or if there is that same need for personal connection when signing on such a significant transaction as a loan closing/real estate closing. I think we have seen a change in the appraisal process in that we are receiving many more appraisal waiver options both for purchase and refinance transactions. I think this is an impact that may be here to stay.
of Non-QM (non-Qualified Mortgages), which are mortgages with unique features such as verifying income with bank statements rather than tax returns or pay stubs, but those investors are starting to open for business again. We have seen the notion of taking Fannie Mae and Freddie Mac private raise its head again, and become a prominent theme and we don’t totally know what that means for the long-term health of the mortgage industry. Right now we are reminding people that it’s a great time to refinance or to buy, but to get going on it early because the volume has slowed things WAY down.
Noel Bennett NMLS# 290197 303.302.3848
Alicia Alpenfels NMLS# 296651 303.302.3845
Q: Do you think right now is a good time to buy/sell a home?
Q: What tips do you have for buyers and sellers looking to make a move?
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A: For sure. With rates at all-time lows how could it not be a good time to be a buyer, or a seller who then needs to buy a new home?
Brad MacHamer NMLS# 190059 303.302.3857
A: Get your pre-approval done early as a buyer. Work with your lender of choice early if you are a seller to get your ducks in a row to be a buyer. And don’t forget, if you are a seller, there are ways to buy before selling in many cases. Your lender can help you figure out how that might be feasible, thus avoiding a contingency offer, which we know can be tough in a robust market like we have here in Boulder and the surrounding areas in the Front Range.
Q: What do you think people need to know about the state of your industry?
Portia Noel NMLS# 294962 303.302.3907
A: The mortgage industry, like the real estate industry, has been through some very challenging times recently with the reduction in the types of loans available and the investors who offer those loans. Jumbo loans (those loans over $644,000 in Boulder County) nearly disappeared at the early part of COVID 19 due to the investors trying to evaluate risks in the market (forbearance and defaults). We saw a near-complete shutdown
Premier Mortgage Group 1844 Folsom Street, Boulder, CO 80302 A Division of Cherry Creek Mortgage Co., Inc. NMLS# 3001
Terri Wolf NMLS# 278332 303.302.3841
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