Welcome to Pacific Funding Mortgage Division

Pacific Funding Mortgage Division is a full service Direct Lender offering the best products and loan programs available!

We understand you’re making a commitment in buying a new home, refinancing a mortgage or cashing out your home equity; therefore, our superior in-house team of mortgage professionals is committed to delivering you the best quality service.

Clear communication, integrity, and professionalism are the foundation in building and maintaining long term relationships with our clients.

You can depend on us for the best possible loans, with an array of loan programs to fit your needs!


Pacific Funding Mortgage Division is Licensed by the Bureau of Real Estate . BRE #1122665. Licensed by the Department of Business Oversight under the California Finance Lenders Law, NMLS #243082. DBO #603E309

Mortgage Delinquency Rate in U.S. Fall to 2008 Levels

The U.S. mortgage delinquency rate declined in the first quarter to the lowest level since 2008 as an improving job market helped more borrowers pay their bills and tighter lending standards resulted in fewer defaults.

The share of home loans at least 30 days late dropped to 7.4 percent from 7.58 percent in the previous three months, according to a report today from the Mortgage Bankers Association. The rate peaked at 10.1 percent in the first quarter of 2010 and was last lower in the third quarter of 2008, when it was 6.99 percent.

Read more on Bloomberg.com

Fewer U.S. Homeowners Late On Mortgage Payments

The percentage of U.S. homeowners behind on their mortgage payments dropped in the first three months of this year to the lowest level since 2009, according to a new report.

Some 5.78 percent of the nation’s mortgage holders were behind on their payments by 60 days or more in the January-to-March quarter, credit reporting agency TransUnion said Wednesday.

That’s down from 6.19 percent in the same period last year, and below the 6.01 percent delinquency rate for the last three months of 2011.

Read more at NPR.org.

Fannie, Freddie are set to reduce mortgage balances in California

As California pushes to get more homeowners into a $2-billion foreclosure prevention program, some Fannie Mae and Freddie Mac borrowers may see their mortgages shrunk through principal reduction.

State officials are making a significant change to the Keep Your Home California program. They are dropping a requirement that banks match taxpayers funds when homeowners receive mortgage reductions through the program.

The initiative, which uses federal funds from the 2008 Wall Street bailout to help borrowers at risk of foreclosure, has faced lackluster participation and lender resistance since it was rolled out last year. By eliminating the requirement that banks provide matching funds, state officials hope to make it easier for homeowners to get principal reductions.

Read the full article on the Los Angeles Times website.

3 Trends in Mortgage Finance

The housing and mortgage markets have seen their fair share of ups  and downs this year, making it difficult to predict what the next month  holds in store much less the rest of the year.

Still there  are a few themes experts say are likely to surface as the year goes on.  Here’s what to look out for in mortgage financing this spring…

Read more at USNews.com

Harp 2.0 | How To Refinance An Upside Down Mortgage

How to take advantage of low rates when you have no equity.

Many homeowners today have good credit, they’re current on their home loan payments yet they see these amazing interest rates that are just out of reach because the equity in their house is either too low or even worse they are upside down, meaning they owe more on their loan than what the house is worth.

Well here’s the good news. Under the new HARP 2.0 guidelines coming out in March 2012 homeowners that are upside down may have an opportunity to refinance their loan to a lower rate regardless of their equity position.

There are 3 basic criteria that must be met.

  1. Your loan needs to be owned by either Fannie Mae or Freddie Mac. See the links at the bottom for more info on how to find out if Fannie or Freddie own your loan.
  2. You must be current on your existing loan and have good credit.
  3. You must meet affordability guidelines.

While this doesn’t solve the problem for everyone, it’s certainly a step in the right direction for homeowners that can satisfy those 3 qualifying elements.

If you’d like more information on what options are available for you, please feel free to call me and if you’d like to find out if your loan is owned by Fannie Mae or Freddie Mac click on these links and fill out the online form and you will get an instant answer if they own your loan or not.

Click here for Fannie Mae

Click here for Freddie Mac

For help on refinancing your home loan, please contact me directly  and I will be happy to assist.


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End of Year Memo

Dear Colleagues, Clients, and Friends,

Once again, we find ourselves at the end of another year, looking toward the future in anticipation of the year to come. As we plan for 2012, we can’t help but notice that despite recent downward trends, the interest rate forecast has predicted a rise in interest rates. When asked his opinion about interest rate movement at a National Mortgage Banking Conference this past October, our chief economist looked at his audience and said “We’ll see.” Intended to be light-humored, our economist’s outlook illustrates the unpredictability of the market. The fact of that matter is that if we want to pin down any piece of the financial market, we need job growth. Looking at the Global Market, the Euro’s decline shows that America is not alone in this financial quandary.

On a more personal note, with Washington’s extension of the HARP refinance program, I encourage you to take a look at your own mortgage. If you are current on your payments but have negative equity in your home, you may qualify under the HARP initiative. With interest rates in the high threes and low fours, you could land a significantly lower monthly payment (not to mention the peace of mind that comes along with it). It’s true that Washington still has its hands full with the struggling housing market, but hang in there – we are nearing the bottom of the value decline (if we haven’t hit it already). As always, we are happy to assist you in any way possible. Feel free to give us a call to discuss your options.

You may be pleased to learn that the home affordability index is better now than it was before 1990. We anticipate that as more jobs become available, home buyers will return. If you are in the position to do so, now is the time to consider buying. With prices at the bottom of the value range, you may be surprised to find how affordable a new home can be.

Pacific Funding Mortgage Division has enjoyed a solid year of positive growth and development. Looking back at 2011, we owe our success in large part to the continued support we have received from all of you. Thank you! We appreciate your business and look forward to helping with your finance needs as we move into 2012.

We hope you enjoy your Holiday Season!

Best Wishes,

Michael Moeller
Pacific Funding Mortgage Division