Loan Programs and the Lending World With Cary Pearce #678

Bruce Norris and Aaron are joined this week by Cary Pearce. He is the branch manager and senior loan manager for Flagstar Bank. He has over 25 years in the lending business, and Bruce has known Cary for just about as long as he's been in the business. 

In this segment, Bruce, Aaron, and Cary will discuss how long he has been in the industry, the market during the downturn, what the credit expectation was during this time, what programs he could see re-implemented today that were aggressive then, changes to Fannie Mae that will be a game-changer next year, the ratio of refis to purchase loans, the lending business and whether it is more competitive now, and much more all on the real estate radio show.

The Norris Group originates and services loans in California and Florida under California DRE License 01219911, Florida Mortgage Lender License 1577, and NMLS License 1623669.  For more information on hard money lending, go www.thenorrisgroup.com and click the Hard Money tab.


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Cary Pearce of Provident Bank Mortgage Joins Bruce Norris on the Real Estate Radio Show #420

Bruce Norris is joined again this week by Cary Pearce. Cary is the current sales production manager for Provident Loans. As a production manager, he has closed almost 2500 loans for about $350 million in his career as well as supervised another $1 ½ billion in other closings. Cary started in the business in 1985 when he worked at Coldwell Financial. He later went to work for Acu Bank Mortgage, where he first met Bruce. Here he was promoted to a position of branch manager. He has been with Provident as their production manager since 2009. Bruce and Cary discuss the 3% down Fannie/Freddie program, FHA and conventional loans, loan-to-value loans, crowd funding, the ease of obtaining a loan when you are self-employed, available down payment programs, mortgage insurance, Fannie/Freddie rental programs, immigration law changes, and much, much more on this week's Norris Group real estate radio show and podcast.

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Cary Pearce of Provident Bank Mortgage Joins Bruce Norris on the Real Estate Radio Show #419

Bruce Norris is joined this week by Cary Pearce. Cary is the current sales production manager for Provident Loans. As a production manager, he has closed almost 2500 loans for about $350 million in his career as well as supervised another $1 ½ billion in other closings. Cary started in the business in 1985 when he worked at Coldwell Financial. He later went to work for Acu Bank Mortgage, where he first met Bruce. Here he was promoted to a position of branch manager. He has been with Provident as their production manager since 2009. Bruce and Cary discuss ARM products and VA loans, conventional loans, the loan market from 1985-1989, the two sides of the lending world, the GSEs five years from now, the downturn from 1990-1996, loan fraud, mortgage-backed securities, and much, much more on this week's Norris Group real estate radio show and podcast.

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Bruce Norris is joined again this week by Cary Pearce. Cary is the production manager for Provident Bank Mortgage. They do about $20 million in volume a month. He has been with them for four and a half years and has been in the industry for 28 years. Bruce and Cary discuss FHA loan limits, FHA loans at the end of 2013, mortgage-backed securities, the hole in the marketplace right now for new construction,  price gains, conventional loans, and much more on this week's real estate radio show and podcast.

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Cary Pearce of Provident Bank Mortgage Joins Bruce Norris on the Real Estate Radio Show #366

Bruce Norris is joined this week by Cary Pearce. Cary is the production manager for Provident Bank Mortgage. He is in the Inland Empire, and they do about $20 million a month. He has been with them for four and a half years and has been in the industry for 28 years. Bruce and Cary discuss the mortgage industry today compared to 2006, prices in the 80s and early 90s, the new QM rules, concerns over the new oversight,automated approvals by the FHA and GSEs, the 417 loan amount, the advantage of a conventional loan and its lower PMI factor, and much more on this week's real estate radio show and podcast.

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Bruce Norris is joined this week by Cary Pearce. Cary is the sales production manager for Provident Loans, and he has been in the business since 1985.  He has closed about 2,500 loans himself, and he has also supervised about $1.5 billion in closing.  Bruce and Cary discuss Provident's Inside Lending newsletter, the percentage of the market made up of short sales, the unemployment level, expected GDP growth, the interest rate when Cary first started in the business, jumbo loans and portfolio loans, FHA loans, and more on this week's real estate radio show and podcast. 

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