Oklahoma Mortgage Group - Mike David

The mortgage industry is entering a new credit scoring era. FHFA announced that Fannie Mae, Freddie Mac, and FHA are moving forward with newer credit score models, including VantageScore 4.0 and FICO 10T. VantageScore 4.0 is available immediately for approved lenders, while FICO 10T is expected to follow. Why This Matters For years, mortgage lending has relied heavily on Classic FICO. That model is still approved, but newer models create more competition and may give lenders a better way to evaluate creditworthiness. FHFA says these newer models can consider additional data, including rent payment history. That could be especially important for renters who pay consistently but have limited traditional credit depth. What Could Change Over time, this may help expand the borrower pool. Some buyers who did not score well under older models may be viewed differently under newer credit frameworks. It may also create more competition among credit score providers, which could help reduce credi...

  I’m proud to share that I’ve been named to Mortgage Executive Magazine’s Top 1% Mortgage Originators in America for 2025. This recognition represents more than production, it reflects consistency, communication, and trust built over time with clients and partners. What This Means for Buyers If you’re planning to purchase a home, the lender you choose matters. A strong mortgage process helps you: Understand your numbers upfront Submit competitive offers with confidence Avoid surprises during underwriting Clear communication and a well structured pre-approval can make a real difference, especially in a competitive market. What This Means for Agents For real estate professionals, a reliable lender helps protect your deals and your reputation. That includes: Fast, accurate pre-approvals Proactive updates throughout the transaction Problem solving before issues impact closing The goal is simple, keep the process moving and reduce stress for everyone involved. Local Focus Matters As a ...

  VA appraisal issues have been a common concern for buyers, sellers, and real estate agents. Effective May 1, 2026, VA updated its Minimum Property Requirements to make the process more practical. What Changed? VA is now focusing more clearly on safety, structural soundness, and sanitation. Key changes include: • Detached sheds and fences may not automatically require repairs • Peeling paint on post-1978 homes may be considered cosmetic • Certain radon certification requirements for new homes were removed Why Agents Should Care This could mean fewer minor repair delays and smoother closings for VA buyers. It also gives agents a better way to explain VA offers to sellers. A VA loan does not have to mean a difficult transaction. Good News for Buyers Eligible veterans and active-duty buyers may now have more flexibility when shopping for homes. VA home loans are still subject to appraisal and lender review, but these updates may help more homes qualify without unnecessary repair cond...

The Federal Reserve announced no change to the Fed funds rate at its April 2026 meeting, keeping the benchmark rate between 3.50% and 3.75% . This marks the third consecutive meeting without a rate cut. While many entered 2026 expecting rate relief, global economic pressures, particularly elevated oil prices, are keeping inflation persistent and delaying those anticipated cuts. Why Rates Aren’t Dropping Yet Several key factors are influencing today’s rate environment: • Oil prices remain above $100/barrel , fueling inflation • Ongoing geopolitical tensions are creating uncertainty • The economy is showing resilience , not weakness • The job market remains stable, with no major contraction Because of this, the Fed is taking a cautious approach before making any moves toward rate cuts. What This Means for Mortgage Rates Mortgage rates don’t directly follow the Fed funds rate, but they are heavily influenced by: • Inflation trends • Market expectations • Investor behavior R...

If you’re considering moving to Tulsa or relocating to Tulsa through the Tulsa Remote program, there’s never been a better time to explore your options. Tulsa Remote is a nationally recognized program designed specifically for out-of-state remote workers who are selected to relocate to Tulsa. Participants gain access to a growing, supportive community along with a $10,000 grant to help make the move. At Oklahoma Mortgage Group, we’re proud to be a Tulsa Remote approved lender , helping qualified participants navigate the homebuying process with clarity and confidence. What is Tulsa Remote? Tulsa Remote is a 12-month program built to attract talented remote professionals to Tulsa. Since its launch, it has welcomed 3,500+ remote workers from across the country, representing all 50 states and hundreds of cities. Participants benefit from: • A $10,000 relocation grant • Free coworking space • Monthly networking and community events • Health and wellness resources Even more ...