Friday, December 12, 2014

It's about to get Easier to Get a Mortgage.

For years now, if you didn't have near perfect credit and a hefty 20% down payment, chances were slim that lenders would give you a mortgage.
That's because Fannie Mae and Freddie Mac, the two government-backed mortgage giants that backstop a majority of all mortgages, have put new lending guidelines in place that should make it easier for borrowers to secure loans.
Not only are the two agencies lowering down payment requirements and making it easier for loans to be classified as qualified mortgages, but more importantly, they have clarified when lenders will be on the hook if borrowers default.
In the past, Fannie and Freddie have been able to force lenders to buy back loans that have defaulted soon after it was issued, if any mistakes were made in the paperwork or if there was borrower fraud.
"Lenders have been real concerned about these buybacks," said Doug Lebda, CEO of LendingTree. "If problems arise with loans, the [Fannie/Freddie] guarantee often fails when lenders need it the most."
Mel Watt, the head of the Federal Housing Finance Agency, acknowledged that the previous policy made it hard for lenders to understand exactly when Fannie Mae or Freddie Mac would require the banks to repurchase loans.
Under the new rules, any loans with no missed payments for 36 consecutive months after they were first issued will be backed by Freddie or Fannie should they default. The agencies will also allow two missed payments in the first 36 months without forcing borrowers into foreclosure.
And if private mortgage insurance, which is required for all low downpayment mortgages, is rescinded, say due to errors made in the underwriting process, lenders will not automatically be required to repurchase the loans.
"That makes the Fannie/Freddie guarantees more like real insurance," said Lebda.
According to Lawrence Yun, chief economist for the National Association of Realtors, the buyback issue has been "the number one hindrance to mortgage lending lately. If it disappears, it would be a big boost to mortgage lending."
Freddie and Fannie have also said they will start backing 3% down loans. Borrowers can currently get 3.5% down loans from the FHA, although they require borrowers to pay mortgage insurance premiums for the life of their loans.
The new low down payment loans should help boost homebuying among low-income andfirst-time homebuyers, who have been conspicuously absent from the housing market over the past year.
Lenders already seem to be loosening up a bit.
Mark Palim, who oversees economic and strategic research at Fannie Mae, said average credit scores for approved loan applications have dropped slightly over the past few months and lenders are doling out loans with lower down payments as well.
According to the Federal Reserve, nearly 14% of senior loan officers said their banks had gotten less strict in the three months ended in October.
Of course, lenders are not expected to return to the lax underwriting standards of the boom years. Banks are much more careful these days, making sure that all mortgages are fully documented, said Palim.
They don't want to look irresponsible, or worse, predatory. "They're very concerned about reputational risk," he said. 
If you are thinking of buying a home in Rhode Island, Massachusetts, or Connecticut, call Lisa Morrison and The Newport Group-the local Experts in the New England Real Estate Market.   401-849-3339

Wednesday, December 3, 2014

Sold This Year by Lisa Morrison and The Newport Group

Taken at The Newport Group of Coldwell Banker These are a few of the properties we have sold this year. Contact Lisa Morrison and The Newport Group - Coldwell Banker Residential Brokerage if you are considering listing your property or would like to get more information on the current market in your area and find out what your home is worth. See the properties here:

Monday, December 1, 2014

3 Faroe Ct, Warwick, RI 02889

3 Faroe Ct, Warwick, RI 02889: 3 Faroe Ct, Warwick, RI 02889 — Beautiful 3-4 bed Gambrel Colonial on quiet cul-de-sac on rare nearly 1/2 acre lot! Enormous bedrooms, gorgeous wide-plank refinished floors, large EIK, wood stove FP. Enjoy your own private retreat in-ground pool, patio! Amazing value @ $108/sq ft!

Thursday, November 20, 2014


For consumers who are considering purchasing a new home, questions will certainly arise about financing. How much can I afford? What mortgage products are available? Which type of loan will work best for me given my income and financial situation? What is the difference between being pre-qualified and pre-approved for a loan? These are all questions that are likely to be asked.

Obtaining proper guidance about mortgage loans has become even more important in recent years as mortgage lending standards have tightened, making it more challenging for home purchasers to go through the mortgage qualification process.

But the housing market received a boost recently when federal regulators made some significant changes to mortgage rules that housing experts predict will make it easier for qualified homebuyers to access financing. Regulators agreed to drop a proposed requirement that borrowers make a 20% down payment to qualify for a low-interest, high-quality mortgage.

This is welcome news for homebuyers in many markets who despite having strong credit scores and stable employment would find it difficult to save for a large down payment. The new rules ensure that “responsible homebuyers have access to safe and affordable credit,” according to the National Association of Realtors.

The National Association of Home Builders also praised the new rules saying they would “help ease tight credit conditions for borrowers and reduce future defaults without punishing responsible borrowers and lenders.”  

If you need financing to purchase a property, it is prudent to consult with a Coldwell Banker Residential Brokerage affiliated real estate professional before beginning the home search. The Newport Group of Coldwell Banker Residential Brokerage  has affiliated partnerships with mortgage lenders and a sales associate can quickly connect you with an experienced loan advisor who can assist you. 

Whether you’re a first-time homebuyer, or a home seller looking to move-up or downsize, you can learn more about your mortgage options by contacting a The Newport Group-Coldwell Banker Residential Brokerage sales professional today. 

Call today 305-849-3339
or email us


Sunday, November 16, 2014

Use a Real Estate Agent Even After Finding Your Perfect Home

With the vast amount of real estate information available online, some home buyers choose not to hire a real estate agent at all. While you may succeed in finding a home, an agent is extremely helpful in the negotiation process. He or she also helps to ensure you don't miss relevant legal documentation or paperwork which could cause trouble later.

A good real estate agent can have years of experience in a local area and may know what the best neighborhoods are just from your description of your ideal home. In addition to their ability to find more listings and efficiently narrow things down, agents stay informed about current developments in a neighborhood, which may be difficult for home buyers not from the area.
Lisa Morrison and The Newport Group are the trusted experts in the Real Estate Market in Newport, Rhode Island and the surrounding areas. Their diverse team of Real Estate Professionals can give you insider knowledge about the local housing market, schools, community activities, local restaurants and more. 
Learn more about Lisa Morrison and The Newport Group-Coldwell Banker Residential Brokerage here:

Tuesday, October 21, 2014

Lisa Morrison of The Newport Group is The Expert in Luxury Property in Rhode Island, Massachusetts, and Connecticut

When looking for a Realtor in Rhode Island, Massachusetts, or Connecticut, look no further than Lisa Morrison of The Newport

With over 20 years is the Real Estate Business, Lisa knows the ins and outs of the business and has made it her professional mission to become an expert in the luxury home market in her native state of Connecticut and her now home state of Rhode Island. With Massachusetts so near, it was a natural progression to lean everything about the housing market in her neighboring state as well. 

Lisa is an  ambitious hard worker, it has been her consistent enthusiasm, dedication and persistence that set her apart.  Her ability to recognize the needs of her clients and “Making the Match” is her trademark! When you are looking for luxury property and a Real Estate Professional that you can trust, call Lisa Morrison of The Newport Group- 401-849-3339

Here is what some of Lisa's clients are saying about her:

I bless you every time I enter my Newport home!
I have used numerous real estate people in the past and you are, by far, the hardest working woman I know.
Your attention to all the detail that is involved in a real estate transaction is unsurpassed.
You care for your clients and take a personal interest in their happiness.
You listened carefully to my “story” and instinctively knew what I wanted and needed in a home and worked tirelessly to find the right fit for me.
Because of this, I have recommended you to my friends who want to purchase a home in this area and they are delighted with their experience as well.
You make a sincere effort to ensure that your clients are comfortable in their new community.
No one knows and loves the Newport area as much as you do.
You love what you do and it shows.
You are such an amazing agent, but an even more amazing person.
You made my dream of a happy place for friends and family to gather a reality.
You are known to my family and friends as Lisa Real Estate and all of them hold you in high regard.

Saturday, October 11, 2014

The Newport Group -Aquidneck Island Real Estate Market Update

I’d like to update you on the current state of the market, more importantly how this affects investments here in Rhode Island. Well I have great news! The market is solid and growing stronger every day. When the financial market was on the decline we were very fortunate to not see anything more than a hiccup in our area and we quickly recovered. In fact, we are experiencing home values on the rise and low inventory making it a challenging market.

Unfortunately, not all of Rhode Island has recovered as quickly as Aquidneck Island and took a much harder hit economically with short sales and foreclosures still having an impact on the values. I attribute this to the fact that Aquidneck Island is primarily made up of second home, vacation and investment properties. The tourism and local universities have also had a very positive effect on our area. Thanks to the economic development and careful watch over how our community grows and evolves, we are becoming a very sought after destination.

I have made a conscious decision to invest here not just because of it being financially prudent, but more because of the lifestyle it offers myself and my family. We now have several new Farm-to-Table restaurants that are working along with our local growers to create healthier choices while keeping the farmers employed. There are cruise ships coming in now to extend the season for our businesses. The Queen Mary II from abroad is a regular site in our harbor. The sailing industry, Tennis Hall of Fame and Preservation Society add to the history and culture we share with our visitors.
I wanted to take the time to pass this information on and offer my services. Rates are extremely competitive and may be worth assessing your portfolio. This may be a prime time to see not only where your value is but also to consider your options for property investment on Aquidneck Island.

Feel free to call to schedule a consultation. I am backed by my team of Real Estate Professionals and we would love to assist you.

Lisa Morrison
The Newport Group
Coldwell Banker Residential Brokerage

office 401.849.3339
cell 203.217.3990
38 Washington Square
Newport, Rhode Island 02840

We Live It. We Love It. We Sell It!

Thursday, September 25, 2014

The Newport Group Offers Relocation Services for Home Buyers and Sellers

As part of Coldwell Banker Residential Brokerage, Lisa Morrison and The Newport Group can offer enhanced services to our buyers and sellers that no other local real estate group can provide. One such service is our Relocation Division.
The Coldwell Banker Residential Brokerage Relocation Division is focused on providing service above and beyond the expectations of home buyers and sellers with an emphasis on enhancing the entire real estate experience.

The fully staffed Relocation Department is dedicated to meeting the needs of home buyers and sellers beginning at the initial consultation and ending with a successful closing.

Offering the highest level of customer service and an impressive market share, our award winning department provides:
  • ·         Nationwide resource assistance with establishing buying or selling connections in another city, state, or country.
  • ·         Incoming business that includes individuals and their families moving into and out of your area.
  • ·         Principal Broker for the Cartus Broker Network, the leading network of market-dominant real estate brokers.
  • ·         Partner for corporations, suppliers and other brokers in dealing with real estate in our marketplace.

Cartus is the premier provider of global mobility management and workforce development solutions serving the corporate, military, and government markets. Through its industry leading outsourcing, consulting, language and intercultural training, logistical support and supplier management, it helps organizations and their mobile workforce achieve success worldwide.

If you want a professional team that is dedicated to making your buying or selling experience smooth and seamless, call Lisa Morrison and The Newport Group. They offer the invaluable experience, dedication and service that every home buyer or seller needs.

Visit our website: or call us today for more information 401-849-3339

Thursday, August 21, 2014

When Choosing a Real Estate Professional, Look No Further Than The Newport Group

If you are searching for a luxury or high-end home it is important that you reach out to experienced real estate professionals. The Newport Group are not only experienced but a seasoned and diverse team that understands your needs and point of view. We will help you to make an informed buying decision as well as provide you with detailed information regarding luxury homes in a particular region.  The Newport Group’s focus is on the luxury home market and we are familiar with this market and the particular needs of both the seller and the buyer. We understand that community lifestyle, convenience, privacy and social amenities differ from one neighborhood to the next

Our group of experienced real estate professionals know the market and understand the complexities of luxury high-end listings. Hiring the right real estate professional is very vital for any home purchase or sale, but even more important for high-end homes. When choosing a real estate professional, you should consider our experience and knowledge of the luxury home market. You simply cannot go wrong with the Newport Group. 

Call us - (401) 845-6900

Tuesday, August 12, 2014

Finding a Luxury Property

The Group is led by award-winning sales professional and 25 year veteran, Lisa Morrison, provides residential real estate brokerage services to Newport and the surrounding communities. Our expertise extends to the luxury market, waterfront homes, investment properties and vacation homes. With the Newport Group comes an intimate understanding of the culture and environment due to the dynamic fusion of diverse skills and expertise that our staff possesses. We understand the unique nature of homes and estates in Newport, particularly in the arena of luxury homes, second homes and investment properties.

Our Purpose is to offer the very best in service while maintaining integrity and professional standards. We are driven by the challenge, no matter how big or small. We strive to successfully match each individual client’s needs and wants to a particular property. We understand that different clients have diverse needs- some may want to own that perfect luxury home while others may just be looking for investment properties. 
Some clients might require a second home and need our help to find best the most suitable one. We recognize that real estate is about one-on-one relationships, networking and service. Coldwell Banker and its technology platform have afforded us the ability to showcase properties in an instant with an international reach.

Many people think of real-estate business as a linear, non-emotive enterprise but we beg to differ. When you find a person their dream home- you have to absorb a bit of their ambitions, aspirations and interests. It doesn't happen in a vacuum. This is why we place the needs of our clients’ before anything else. And we provide the very best in real estate whatever maybe your requirement. This is a client-centred business where if your client is looking for that fabulous luxury home in a quiet neighbourhood or that second home in the hustle-bustle of the city, or that awesome investment property, you need to assess their requirements and provide the very best for them.

The Newport Group stands for quality, integrity and professionalism. We excel in providing variegated real estate properties to our potential clients. Our expertise lies mainly in finding the best luxury homes, second homes and investment properties for our clients. And, we strive each day to make your dreams come true. So if you are looking for a superb property along with quality real estate services that truly understands who you are- you cannot possibly go wrong with The Newport Group.  Call us today: 401-849-3339 or visit our website

Monday, July 14, 2014

The Newport Group-Our Services

The Group led by award-winning sales professional and 25 year veteran, Lisa Morrison, provides residential real estate brokerage services to Newport and the surrounding communities. The team includes an experienced broker associate,marketing specialist, administrative assistants, an architect specialist and home staging assistant. Our expertise extends to the luxury market, waterfront homes, investment properties and vacation homes. Combining our diverse skills, The Newport Group has an intimate understanding of the culture and environment. We understand the unique nature of homes and estates in Newport, particularly in the luxury arena.
Our Purpose is to offer the utmost in service while maintaining integrity and professional standards. We are driven by the challenge, no matter how big or small. We strive to successfully match each individual client’s needs and wants to a particular property. We recognize that real estate is about one-on-one relationships, networking and service. Coldwell Banker and its technology platform have afforded us the ability to showcase properties in an instant with an international reach.

The Newport Group
Call us - (401) 845-6900