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Richard in the Media

Richard in the Media

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Politics and Policy Section
Loan Size to Be Cut for Fannie, Freddie
by Nick Timiraos
Sept. 8, 2013 7:32 p.m. ET“…Arbitrary changes in borrowing limits are “only going to harm the first-time home-buyer,” said Richard Redmond, the mortgage broker in Larkspur, Calif., who arranged their loan. “An across-the-board cut is easy to sell in the heartland, but it’s going to hurt the coasts…”

Homes Section
Swift Rise in Yields Pushes Up Mortgages
By Nick Timiraos and Mark Gongloff
Updated Dec. 17, 2010 12:01 a.m. ET
“…The impact of rising mortgage rates also could be more acute in housing markets where prices haven’t fully corrected. In San Francisco’s Marin County, “this is going to put added pressure on sellers already dealing with excess inventory,” said Richard Redmond, a mortgage adviser at All California Mortgage in Larkspur, Calif…”

U.S. News Section
Student Borrowers Retreat From Home Buying, Report Says
By Josh Mitchell and Ruth Simon
April 17, 2013 7:03 p.m. ET
…Student-loan debt “can definitely be a limiting factor,” says Richard Redmond, a mortgage broker in Larkspur, Calif. For young home buyers, he says, $100 in monthly student-loan payments typically reduces the amount they can spend on a home by about $20,000, he says. “A few hundred dollars of student-loan debt can mean a smaller home, a less-desirable neighborhood, a longer commute or buying a condominium instead of a house,” says…”

Weekend Investor Section
Nabbing a Bargain-Basement Mortgage Before Rates Rise
By James R. Hagerty
Updated March 13, 2010 12:01 a.m. ET
“If rates do go up sharply, that will have a big effect on home buyers. Richard Redmond, a mortgage adviser at All California Mortgage in Larkspur, Calif., offers the example of a couple with combined pretax income of $100,000 a year and debt obligations (excluding mortgage) of $500 a month. At a 5% mortgage rate, he figures, the couple could qualify for a loan big enough to buy a $590,000 house, assuming a 20% down payment. At 6%, that would fall to $540,000…”

WSJ Blogs Section
WSJ’s Nick Timiraos Fields Your Questions on Fannie and Freddie’s Future
by Nick Timiraos
February 16, 2011, 4:41 PM
Q: Richard Redmond
“Nick, if the current weakness in the housing market continues, and we have a continuing decline in home prices this year, do you think that will weigh heavily on the decision of what to do. Won’t the pols be likely to kick this down the road until after the 2012 elections if the housing market is still in the tank?”
A: Nick Timiraos
“Hey Richard, thanks for the question. I think there are a lot of political analysts that would agree with you on this…”

 

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Business Section
Obama program lets underwater homeowners refinance
By Carolyn Said, Chronicle Staff Writer
Published 4:00 am, Tuesday, October 25, 2011
“It does have a floor, though. People with a loan-to-value ratio under 80, – i.e., those who have more equity – are excluded. Richard Redmond, a mortgage adviser with All California Mortgage in Larkspur, said that’s a negative because some people with equity still have trouble getting a new loan…”

Business Section
Good timing could reap double tax credits
Kathleen Pender
Published 4:00 am, Thursday, April 1, 2010
“Sellers might be flexible because it’s still a buyer’s market, but they may want something in return,” says Richard Redmond, a mortgage broker in Larkspur. If you have a loan locked in with a close date in April and you want to extend it, you may have to pay a fee or get a higher interest rate,” Redmond adds…
 

Real Estate Section
Mortgage crunch has even wealthy buyers scrambling for credit
Carolyn Said, Chronicle Staff Writer
Published 4:00 am, Wednesday, August 15, 2007
“Credit (scores) have never been more important,” said Richard Redmond, a broker associate with All California Mortgage in Larkspur. “The market is unforgiving, and it’s all about the score. You have to have the minimum the lender requires, or you don’t get your home.”

Redmond said he had one client who didn’t pay a $15 credit-card charge for a product he hadn’t ordered. That temporarily lowered his credit score to 697.

“In this market, I cannot do a stated-income, cash-out refi with his credit score below 700,” Redmond said. “There are no doors open for him, until we get that credit score changed, which we hope to do within a week or 10 days…”

 

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Breaking News Section
Wait it out, say local financial analysts
Nancy Isles Nation
Posted: 01/23/2008 11:30:03 PM PST
“The silver lining in market turmoil that prompts rate cuts may be that the residential real estate market is bolstered by lower interest rates at a time when many mortgages are due to reset at adjustable rates, according to Richard Redmond, a loan officer with All California Mortgage in Larkspur.

“We’re seeing lower interest across the board,” Redmond said, adding that rates dropped Tuesday and Wednesday.

“In the last two days, there has been a tremendous up-surge in the interest in refinancing.”