American Pacific Mortgage

American Pacific Mortgage

Tuesday, October 13, 2015

New Mortgage Guidelines Take Effect; Football Season in the Heat of Summer!


Interest rates have been fairly stable this year with some ups and downs but we still see very attractive rates in the low to mid-4’s with no points. The Fed keeps telling us they are going to raise rates by Year-End. We’ll see. That was the party line last year. It has been a great year for homeowners in terms of rising property values, especially in most parts of California. This has made it easier for many to refinance.
The purchase market was a bit slow this summer, likely due to the high temperatures in SoCal. We expect a brisk fall once things cool down.

TRID: (TILA-RESPA Integrated Disclosure)

Effective October 3rd new regulations went into effect which will cause some temporary waves in the closing process--meaning borrowers are going to have to be even more patient with the process and its extended time frame. The Good Faith Estimate and Truth-in-lending forms, along with the HUD closing statement have been eliminated. The new initial loan disclosure form is the Loan Estimate and will include all costs associated with the transaction. The new closing form called the Closing Disclosure will include all closing costs and must be received by the buyer/borrower three business days prior to closing. And nothing can change on it, or a new 3-day waiting period begins again. Know I'm here to help you through this new loan process which can be frustrating. It should be fun!


Our Christmas was especially fun with a house full of (adult) children, lots of music and games. We think it was our best ever! This coming holiday season will be more quiet with many of the family alternating to other family locales. Sigh!

We welcomed my second grandchild, Miss Poppy Lou Card , into the world on January 2nd. She is growing fast and looks to be prepping to outgrow her big brother Theo, who will turn three in December. Watch out! I’ve had a grand time babysitting Theo for a couple of overnights this year, but I will say I am exhausted afterwards! This is why children are born to the young. 

Steve and I married (finally!) on August 8th in Lake Tahoe. Just prior to our big day, we took the entire family up to Rock Creek in the Eastern High Sierra for four days, where we were joined by my sister Katie to say goodbye to my mother and spread her ashes with those of my father.
We did lots of hiking and fishing, and had great card games at night...all 16 of us in four rental cabins. Then we set off for Lake Tahoe where we stayed four nights in a huge historic home on the North Shore, on Speedboat Beach. There we hosted a small party to witness our vows and celebrate with us. It was a great evening full of fun and dancing-- of course.

My youngest son Kenny started a PhD program at UCLA in September, in Urban Planning. He is living in Hollywood with his partner Moselle. We are thrilled to have him back in Southern California. Only one more to go!


I’ve visited Dallas a number of times with Steve; Museum Tower continues to impress and sales are moving briskly. Steve and I visited my daughter Katie and her husband Paul in Ann Arbor during the summer and rented a pontoon boat, hiked in National parks and listened to great music at their outdoor music festival.

In May Steve and I flew down to Cabo San Lucas for a trip with our dear friends Cynthia and Bill. We stayed in San Jose del Cabo for two nights, to attend their Art Walk, and thoroughly enjoyed ourselves. Friday evening we had dinner at Flora Farms. Outstanding. Steve wants them to open a restaurant closer to us. Please!

Next we drove to the village of Cabo Pulmo for a week, where we dove daily on their reef system. This park offers an abundance of fish and wildlife. Great diving! We stayed in a beachfront home with fabulous views where Steve would paint in the afternoon.

It was a very quiet and relaxing trip…except for the rather large cockroaches, and the scorpion I stepped on. We were living wild! The boys went fishing one day and brought home some great fresh fish we feasted on for days. They have great snorkeling on the reef close to shore, although it was a bit windy when we were there.

Finally, we just returned from a weekend in Lompoc for a wedding. We stayed in a rented home with our sons Drew and Kenny, Drew’s wife MaryGrace, and my grandchildren Theo and Poppy. We had an absolute blast. Lots of hamburgers and laughs! The wedding was held at the Jalama Canon Ranch and was a stunning setting under old oak trees.

The drive out to Jalama Beach is long and windy, but well worth it to see. Go to for camping or cabin reservations. The Jalama Beach Store and Grill is famous for its hamburgers. Hence all the burgers we had on this trip.


We have spent a lot of time this year dining and playing at the Dana Point Yacht Club. Our new friends are all adventurous and interesting. It is a great place with fabulous food, views and parties. Great fun for all!


I lost my dear friend Susan Green on Labor Day. We did lots of traveling together over the years, shared all kinds of adventures, and worked together as well. It is still a fresh loss to me. Lucky for me, she attended our wedding but fell ill after she returned home. I have plenty of marvelous and funny memories of her. And I know she will always be with me.

We also lost our beloved cat Bagheera who was age 17. He is still missed.

Happy Fall to all! Remember to live life to its fullest every day! And, Go Trojans! Find a new coach quick!