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 ...

We want to take a moment to say thank you. Our grand opening at our new Oklahoma Mortgage Group / Waterstone Mortgage Tulsa building was such a meaningful milestone for our team, and we are incredibly grateful to everyone who came out to celebrate with us. There was something special about opening our doors and welcoming in the clients, real estate partners, and friends who have supported us throughout the years. This new space represents so much more than a new location — it reflects growth, hard work, and the relationships that have made it all possible. We don’t take that lightly. Being able to build and grow here in Tulsa, serve families through the home buying process, and partner with so many incredible people in this community is something we are truly thankful for. We feel incredibly blessed to be in this position and excited for what’s ahead. As a Tulsa mortgage lender, our goal has always been to serve well, build lasting relationships, and continue improving in everythi...

If you’re a homeowner in Tulsa and need quick access to funds, a home equity line of credit (HELOC) could be one of the smartest financial tools available right now. Many homeowners are sitting on significant equity but don’t realize how quickly they can access it, without the long timelines or hurdles of traditional loans. At Oklahoma Mortgage Group, Mike David and the team are helping clients tap into their home equity with a fast, streamlined HELOC program designed for real-life needs. What Is a HELOC? A HELOC, or home equity line of credit, allows you to borrow against the equity you’ve built in your home. Instead of receiving one lump sum, you get access to a line of credit that you can use as needed. With this fixed-rate HELOC program, your interest rate and initial draw amount are locked in at closing, giving you stability and predictability. Why Homeowners in Tulsa Are Choosing HELOCs This program is built for speed and convenience, something many traditional loan options lack....

  Following the most recent FOMC statement, the Federal Reserve has maintained the Fed funds rate at 3.50% to 3.75%. This pause comes as the war against Iran continues to drive oil prices higher, sustaining inflationary pressures that make rate cuts difficult to justify in the immediate term. The Fed’s Dual Mandate and the Risk of Stagflation The Fed is currently navigating a complex "no growth, but no contraction" jobs market. With the BLS Unemployment Rate at 4.4%, there is a growing concern that the economy could enter a stagflation environment. If the labor market weakens while inflation remains high due to energy costs, the Fed’s dual mandate—balancing employment and price stability—will be put to an extreme test. This political and economic tension arrives as Jerome Powell’s chairmanship nears its end on May 15. The confirmation of Kevin Warsh as the next chair remains subject to political opposition, adding further uncertainty to the path of monetary policy. Strategic ...

  Are you self-employed and thinking about buying a home, but worried you won’t qualify for a mortgage? You’re not alone. One of the biggest challenges for self-employed borrowers in Tulsa is that tax returns don’t always tell the full story. Business owners, freelancers, consultants, and 1099 earners often write off expenses to reduce taxable income. While that’s smart financially, it can make income appear much lower on paper when applying for a traditional home loan. That’s where the Statement Select loan program from Waterstone Mortgage comes in. What is Statement Select? Statement Select is a mortgage solution designed specifically for self-employed homebuyers. Instead of relying only on tax returns, this program allows a Tulsa mortgage lender to evaluate your real income using alternative documentation. This gives a more accurate picture of your financial situation and your ability to afford a home. How You Can Qualify With Statement Select, you may qualify using: 1...

The Federal Reserve wrapped up its January 2026 meeting with no change to the Fed Funds rate , keeping it in the current range of 3.50%–3.75% . While there has been plenty of public pressure on the Fed to lower rates, today’s decision was not a surprise to the market. In fact, this marks a pause after a series of recent rate cuts and reflects the Fed’s “wait and see” approach as it evaluates where the economy goes next. Why Didn’t the Fed Cut Rates? The Fed has two primary goals: Keep inflation under control Maintain a healthy job market To justify additional rate cuts, the Fed needs to see one of two things: A noticeable slowdown in the job market, or Inflation moving convincingly closer to its 2% target At the moment, neither of these conditions is strong enough to warrant another cut. Employment remains relatively stable, and inflation is easing, but not yet at the level the Fed wants to see. When Could Rates Start Coming Down Again? Current market expectation...

  “Should I wait?” It’s the most common question buyers are asking right now, and for good reason. Mortgage rates have been moving, headlines are noisy, and buyers don’t want to make the wrong move. But when you look past the headlines, the market is quietly shifting in ways that can actually benefit prepared buyers. Mortgage rates are currently near a three-year low , even with some short-term ups and downs. At the same time, many markets are seeing improved inventory, less buyer frenzy, and more opportunity to make thoughtful decisions instead of rushed ones. This doesn’t mean every buyer should jump in immediately. It means the conversation should shift from “waiting for the perfect rate” to “building the right strategy.” In today’s market, buyers who win are the ones who: • Understand their numbers • Know their loan options • Are ready when the right home appears Timing the market perfectly is nearly impossible. Positioning yourself correctly is not. If you or your clien...