Donald Shankle
Coldwell Banker Realty



Guaranteed Rate Affinity
Volatile price action and historical lows 
Rates are up a touch to start the week, as investors continue to decompress from last week’s volatile price action. Last week we finally saw the yield curve invert (2s/10s) and the 30yr long bond reach historical lows. 

The latest on the U.S.-China trade war 
This week, the U.S.-China trade war is once again taking center stage after mixed signals from the White House. President Trump stated the political turmoil in Hong Kong was an ongoing issue with trade negotiations and that he would like to see the issue resolved in a "humanitarian fashion." Hundreds of thousands of protesters in Hong Kong have disrupted commerce and transportation over the past several weeks, demanding government reforms amid military threats from Beijing. 

Trade talks to resume 
Trump’s Director of the National Economic Council, Larry Kudlow, offered a somewhat better outlook on the U.S.-China trade talks, stating there have been many "positive" developments and that trade talks will resume over the next 10 days. President Trump once again turned to Twitter today and voiced his frustration with Fed Chairman Jerome Powell stating, "Our economy is very strong, despite the horrendous lack of vision by Jay Powell and the Fed." The President continued on to say he felt the Fed should have reduced by at least 100 basis points. A rate cut by 25bps is widely expected at next month’s Fed meeting – matching their 25bps cut last month. Mortgages are down about 5/32nds on the day. 

Economic Indicators 
Fed Funds: 2.11% 
1 YR Libor: 1.95% 
30 YR Bond: 2.08% 
10 YR Note Rate: 1.59% 
Dow Jones: 26,169 pts. 
S&P 500: 2,929 pts. 

Existing Home Sales: 8/21 Prior: 5.27M Survey: 5.40M 
FOMC Meeting Minutes: 8/21 
Initial Jobless Claims: 8/22 Prior: 220K Survey: 216K 
New Home Sales: 8/23 Prior: 646K Survey: 645K 





JULY 25, 2019 -- 

We recently helped a client with a no down payment loan. I thought that our 101% financing could be helpful to your prospective buyers.  

The best program uses two loans (1st/2nd) to eliminate the down payment and pay part of closing costs. It requires 3% down for the first mortgage and then provides a 2nd mortgage up to 4% of the sales price, so financing is 101%. Here are some features:

  • NO mortgage insurance
  • Debt to income: is 50%
  • Credit score  - minimum  660
  • Income limit is 140% of median
  • Rate this week was 4.875% , NO points (credit score was 751 – rate would be higher if credit score is lower)


I hope this is helpful. Please feel free to contact me with any questions.  Again, thank you for the chance to help. 

FROM DAVID BACA, with Guaranteed Rate Affinity


June 22, 2019 

I just heard from an old friend in the mortgage business.  click below to view a concise overview of the financial markets (it is easy to understand). 

His name is Chris Erichsen, MBA, CMPS; You can find him at:



Hi Donald, 

I am usually not a put out a rate sheet type of LO.  The are to many factors that impact rates and constantly changing markets to do so. However, rates have been sneaky lately. Yes I said that sneaky.  No flash or major crash just a slow crawl downward. So all rates are slightly lower than they were a week ago and certainly two weeks ago. 

One rate that has stuck out is from the Maryland Mortgage Program for first time buyers going FHA with no closing help from the State.  3.375% 30 year fixed.   Yes that is correct. 3.375%  Also, if you are a repeat buyer which is allowed now, surprise,  the rate is 3.625%.  Bam!  Shades of the low rate days. Call me and I can go over qualifying for the MMP programs.



Veterans can buy a home even if they do not have their full Entitlement.  This can be the case when the Vet has a previous home that was financed using their VA loan and it is not paid off due to a transfer, the home is a rental or they could not sell it. Could be many reasons.   When the Vet does not have their full entitlement, or they have partial entitlement, the maximum sales price they can purchase with “no money down” is restricted. It is no longer the county maximum.  However, Rob Schurr, with 1st home Mortgage has a solution. 
They first determine the maximum loan they can get on the property by utilizing what remaining entitlement they do have.  It usually results in some form of a down payment based on the sales price of the home they are buying.  Remember, 1st home Mortgage may come up with a loan amount that works with the size of home the Vet is looking for, in essence allowing another “100%” VA loan.  For those cases where the desired price is higher and there now is a required down payment involved, 1st Home mortgage can offer the Vet a HELOC in the amount of that down payment up to 100% of the sales price.  The Vet can now take advantage of their VA loan and still get in with a zero down payment.  The seller can still pay all closing costs and prepaids allowing the Vet to truly get in with no funds out of pocket.   
This option can also work with Jumbo VA loans that require a down payment. 

Thanks, Rob Schurr with 1st Home Mortgage for this mortgage moment update.   

Please call me for Rob’s contact information. 


This is the Market data and helpful tips you may need:



March 27, 2019,


For the first time in five years, buyers have more housing inventory to choose from. Inventory is up 1.2% from a year ago.1
  Spring into action
Home showings dipped in December by 7.2% indicating a lull in buyer interest. That means less competition and possibly an upper hand for buyer during their home search.
  Ripe for the picking
Falling Home prices could be in a Buyers favor as the amount of price reductions have increased in 39 of the 50 largest markets, with the largest cuts in the most expensive markets.
  Early bird gets the worm
Rates fell to a one-year low in February. Make sure to lock in a rate while they’re still low this spring!



Top 10 Most Expensive Mistakes You’re Making on Your Home

Posted on Oct 25 2016 - 1:23pm by Housecall  (I FOUND THIS ARTICLE ON HOUSECALL) 

Editor's Note: This post was originally published on October 25, 2016. Housecall continues to share this piece due to ongoing requests and reader interest.

By Cary Teller

Homes cost a lot of money to maintain. But are you spending extra money unnecessarily on upkeep? Here are the 10 most expensive mistakes you could be making in your home.

1. Using Traditional Light bulbs

If you still have incandescent light bulbs in your home, you could be throwing a lot of money away every month on inflated electric bills. Over its life span, an incandescent bulb can use $180 worth of electricity. A CFL will only use $41 worth of electricity over the same time period. Even better is the LED bulb, which only uses $30 per bulb. Think what replacing every light bulb in your home could do to your home's bottom line.

2. Ignoring a Leaky Faucet

A leaky faucet that drips one drop per second can waste more than 3,000 gallons per year, which is enough water to take more than 180 showers. Some of us live in areas where water is plentiful, but for those of us in areas plagued with drought, this could be costing you a fortune. Fix or replace your leaky faucet and save a ton on your water bill.

Image result for picture of leaky faucet

3. Using the Wrong Air Filter Size

We all sometimes forget to change out the air filters for our HVAC systems or accidentally buy the wrong size. But using the wrong filter or a dirty filter can increase your power bill and cause expensive problems for your furnace down the road. Use the correct filters for your system, and set a reminder to change them after the recommended amount of time. You won't regret it.

4. Not Customizing Temperature

Invest in a customizable thermostat. If you're away at the office all day, you can program your heater to shift down a few degrees while you're gone and then shift back up shortly before you return home. Heating or cooling an empty home wastes a lot of money in energy costs.

Image result for picture of thermostat

5. Not Adjusting Air Vents Properly

Is one room in your home hot, while the others are cold? Oftentimes homeowners will crank up the air conditioning in the whole house to combat hot temperatures in one area. Instead, adjust air vents to direct the flow of air more evenly throughout your entire home. Professionals will come regulate this to ensure that your entire home is receiving the same amount of air conditioning or heating.

6.Over Watering Lawn

Many homeowners have their sprinkler systems programmed to come on in the early morning hours for optimum lawn health. This can become a problem, however, if you're never around to see what you're actually watering. A broken sprinkler head could be causing a fountain, or the trajectory of your sprinkler may be directed at a fence instead of your lawn. Periodically run your sprinklers during the day so you can see how they are performing when you're not around.

7. Water Heater Temperature Set Too High

Unless you have a tankless water heater, your water heater is keeping the water in its tank hot 24/7. If you don't keep an eye on the temperature as each season changes, you may be paying too much to heat your water. Decrease the temperature in the summer, and bump it back up when winter comes.

8. Leaky Windows and Doors

Leaky windows and doors are great places for cold, winter winds to enter your home. Many homeowners simply ignore them and crank up their heaters. Caulk leaky windows and put rubber seal around doors to keep winter winds out and warmth in.

9. Paying a Handyman

Don't pay a handyman for a job that is simple enough to do yourself. If you're unsure of how to do something, look up video tutorials online. Doing simple tasks yourself can save you a lot of money.

10. Ignoring Curled Shingles

It may be easy to ignore problems on your roof, but it will only lead to bigger problems later. If you see any possible issues with your roof, repair them as soon as possible, as this will save you significant costs later.

Use these 10 tips to cut maintenance costs on your home today.


_________________________________________________________________________________________________________Good Morning,  (November 7, 2018)

I wish you the very best Thanksgiving Holiday,  '

The FHA is creating a new program where a buyer can purchase a home with "no money" down.  I will know more about this new product in a week or two.  What this means to a buyer, is if the buyer asks and receives closing cost assistance, it will be possible to buy a home with no cash out of pocket (very similar to VA loans).  There will be a few requirements to qualify, as usual.  

stand by for more info.





-----> SATISFACTION GUARANTEED!                                                      




        CLICK THE LINK; result for picture of money sign



July 20, 2018;  if you plan to use FHA financing and have a credit score of 680 or higher, while other things like debts and income are in line with what you are trying to purchase, you can expect to find the "best possible interest rate;" which typically is 1/4% lower than the rates at credit scores less than 680. For today's the actual interest rate, contact your loan officer.  Don't have one, call me and I will give you a few to contact.

. . . if you plan to use Conventional financing and have a credit score of 740 or higher, you will be able to obtain the best possible interest rate to finance a home. The "best rate" is typically 1/8 to 1/4% better than the rates at lower credit scores. 

The lower rate can make a big difference in your monthly payment.


In the not too distant past, a Buyer's credit score was a major component in the qualification process along with income, cash on hand, proof of debts, etc., to secure a loan when purchasing a home. The score was important but not as important as it is today.  Credit scores today carry an elevated impact affecting Buyer's interest rate and down payment.   

 "On the street," where truth can be found, where common sense prevails, and the real world exists, Buyers (and parents of future Buyers) should know the impact the "credit score" has on a Buyer's wallet.   

So, let's attempt to place a "dollar" value on a hypothetical loan for the purchase of the same home by 2 different buyers.  Say the contract price was $315,000 and both buyers were placing 5% down, mortgaging $300,010.   

Buyer A has a credit score of 630 

Buyer B has a credit score of 720 

*The best interest rate "Buyer A" (with the 630 credit score) could find in the open market for a fixed rate loan is 5.5%.  Calculating the monthly mortgage, "Buyer A" would have a payment (principal and interest only –"PI" and does not include mortgage insurance premium) equal to $1703.37 monthly. 

* "Buyer B," with ease, found fixed rate loan equal to 4.875%.  "Buyer B's" monthly payment (PI only) equals $1587.62. 

THE DIFFERENCE IS $116 PER MONTH.  (real world)  

Conclusion"Buyer B" will qualify for the same mortgage needing less income than "Buyer A;"  

"Buyer B" will secure mortgage insurance at a reduced premium (saving more money) 

"Buyer B" will be able to save more money (If they are inclined to do so);  

"Buyer B" has additional funds to afford a larger payment for a better car;  

"Buyer B" may live a better life, even have cash to eat out more often; 

 "Buyer Bmay be able to take a vacation more often,   

and on and on …   

Bottom line – One of Your most important assets is your Credit; Do all that you can to keep your credit 'CLEAN."   

I know several bankers who may be able to suggest ways to help you clean up your credit.  





                                          ALWAYS SEEK LEGAL COUNSEL IN THIS MATTER! 


The Notice of Default 

When you first fall behind on your mortgage, you start getting calls from your lender or loan servicer about making a payment. This is a no brainer. After you’re 30 days behind on your mortgage, you’re sent a “Notice of Default”. It’s basically a letter from your lender that tells you that you’re behind on your mortgage. Your lender or loan servicer will most likely present your options, starting with a loan modification. 

The Notice of Intent to Foreclose 

When you are 60 days behind on your mortgage, you may receive the “Notice of Intent to Foreclose”. This is not a notice that your home is going to be sold by the bank. It is basically telling you that your lender is intending to start the foreclosure process. If you receive this notice when you’re 60 days behind on your mortgage, then this notice may expire after 45 days. After it expires the lender can start the process with the court. You still don’t have a sale date on your home. 

Pre-File Mediation 

You may get information about mediation with the Notice of Intent for Foreclose. This mediation is called “Pre-File Foreclosure Mediation”. Lenders and loan servicers are not required to participate in Pre-File Mediation. If you can apply for Pre-File mediation you will not be eligible for Post-File Mediation, which comes later in the process. We have noticed that manly CDA mortgages participate with Pre-File Mediation. This doesn’t mean you can’t get it if you don’t have a CDA Mortgage. You should check your notice to see if you can apply or not. 

Active Foreclosure Status with lenders and loan servicers 

After you’re 90 days behind on your mortgage, the lender considers you as “Active Foreclosure”. When you call your lender for a status update, you may be told “Your mortgage account is in Active Foreclosure, and there is no sale date set on your property at this time”. Whether you’re close to a sale or not, you could be told this from your lender. Many homeowners get scared when they are told this from their lender. It’s important to understand your options and the process in your state. 

If you don’t get the “Notice of Intent to Foreclose” when you are 60 days behind, and you receive it after you’re 90 days behind, your lender could file the Notice of Foreclosure Action” after the “Notice of Intent to Foreclose” is sent to you. 

The Notice of Foreclosure Action 

The “Notice of Foreclosure Action” is the notice that is filed with the court. Now, you’re in the court phase of the process.  

The “Notice of Foreclosure Action” can include one of two notices: 

  • The Preliminary Loss Mitigation Affidavit 
  • The Final Loss Mitigation Affidavit 

The Preliminary Loss Mitigation Affidavit 

The “Preliminary Loss Mitigation Affidavit is generally sent when the property is owner occupied. This means the borrower of the mortgage lives in the property. If you get this notice, you may get the “Final Loss Mitigation Affidavit” 30 days after you receive the Preliminary. If the borrower does not occupy the property, your lender may skip this notice, which means you could lose 30 days in the process. 

The Final Loss Mitigation Affidavit 

The “Final Loss Mitigation Affidavit” is generally sent if the property is not occupied by the borrower or after the Preliminary. This notice generally expires in 30 days. After it expires you could have a foreclosure sale within 30 to 45 days. With this notice, you’ll get an application for foreclosure mediation. Foreclosure mediation is for owner occupied properties. When foreclosure mediation is offered with the final loss mitigation affidavit, mediation is called “Post File Foreclosure Mediation”. It’s offered to every homeowner that occupies the property and if you request it within the timeline presented in the application, you lender has to participate. It can buy you time to plan your options. 

The Notice of Trustee Sale 

The last notice before a sale is the “Notice of Foreclosure Sale” or the “Notice of Trustee Sale”. This is a notice that tells you the time, date, and place the foreclosure sale will happen. Many homeowners get this notice about 1-2 weeks before the sale. If you get this notice and you’re not in review for an option with your lender, you may not get approved. 

After a home is foreclosed in Maryland, you could have a few months before you are evicted from your home. There's another process after the sale that your lender has to follow. Your best bet is to contact the lender after the sale to get the status, so you can prepare for your move to new housing.