Mortgage lenders want to have a complete picture of your history of repaying debts.

They do this by obtaining your credit reports from each of the three major credit bureaus. The credit report that the mortgage lenders use is called a tri-merge report. It is also known as Residential Mortgage Credit Report (RMCR). It is a single, easy-to-read (for a mortgage lender, not so much for consumers) complete report. This report is compiled from the individual credit reports issued by the three major consumer credit bureaus. This report often differs from the single bureau Free Credit Report that consumers get. As a side note on that subject, think twice before submitting your information on those check your credit score for free Apps. Doing so can expose you to all sorts of problems, the worst being, identity theft.
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Smooth, on-time, and hassle-free closings are critical to growing a business as a realtor. In fact to your very survival in the industry! If you are a good real estate broker, you work very hard to get a planned transaction to the contract stage. Once your client has entered into a purchase and sale agreement, you must rely on other service partners. This reality is an essential consideration in the entire sales process. The mortgage professional you choose to work with is the most important service provider.
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Path to homeownership:

Millennials’ attitude towards housing and their path to homeownership has been a hot topic for some time. Several theories have been floating around as to what is their attitude towards homeownership, what is the rationale behind their thinking that way, and how is it going to impact the housing market, and subsequently, the economy.
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• Closed Sales up Nearly 5%

• Prices increase by 2.5% ($12,500 on a $500,000 home!)

KIRKLAND, Washington (Oct. 6, 2014) – Pending sales of homes around Western Washington surged more than 13 percent in September compared to a year ago, and listing activity picked up slightly, fueling both broker optimism and words of advice for sellers.

Along with increases in the number of mutually accepted offers, the latest report from Northwest Multiple Listing Service shows year-over-year gains in the number of closed sales (up 4.6 percent) and prices (up 2.5 percent). Inventory for its service area, which encompasses 21 counties in Western and Central Washington, declined slightly (just under 1.2 percent).

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Three notable factors for the Real Estate Greater Seattle market

1. Area home prices are up by 6.3%
2. Inventory is described as Well Below-normal levels
3. Some areas have less than 1 month supply of inventory

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