Oklahoma Mortgage Group - Mike David

A condo can offer the right location, maintenance arrangement or price point for a buyer. It also comes with a financing question that does not arise in exactly the same way with every detached home: is the condominium project eligible for the intended loan? Fannie Mae published project-standards updates in Lender Letter LL-2026-03 on March 18, 2026. For Fannie Mae loan applications dated on or after Aug. 3, 2026, the Limited Review process has been retired. Depending on the facts, an established project may need a Full Review or may qualify for a Waiver of Project Review. Fannie Mae also updated policies involving project reserves and financial health. This does not mean every condo purchase will be delayed or denied. It does mean buyers, sellers, Realtors and association contacts can help by starting the documentation conversation early. Here are several items a lender may need to evaluate, depending on the program and transaction: • condominium association budget and reserve informa...

Being named a National Mortgage News Top Producer for 2026 is a major milestone, but what makes it truly meaningful is the context behind it. A National Industry, A Local Team There are hundreds of thousands of mortgage loan officers across the country. Earning a spot among the top producers nationwide is not just about volume, it reflects consistency, service, and the ability to deliver results at a high level. What makes this recognition even more special is that it comes from a small, dedicated team based in Tulsa. This is not a massive operation. It is a focused group committed to doing things the right way for every client and every partner. What It Means for Buyers For homebuyers, this kind of recognition should translate into confidence. The mortgage process can feel overwhelming, but working with an experienced lender helps simplify things. From the initial conversation to the closing table, the goal is to create a clear path forward. Buyers benefit from: Accurate pre-approvals...

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...