Archive for the 'Lenders' Category
Stated Income Loans: The Unexpected Victims
It wasn’t all that lengthy ago that a busboy could walk into a mortgage lender, say he made $100,000 per year and get a home loan based on that number.
The loan programs that were available had all different kinds of names, but they all pretty much did the same thing — allow public to ge…
Florida Countrywide Settlement Means Checks To Homeowners
Here is the first thing like that I have seen – but possibly not the last:
Approximately 2,700 homeowners who had a loan with Countrywide are getting a check for just over$6,000 and total nearly $17 million as a aftermath of a settlement with the Florida Attorney Generals office.
According t…
Nationwide Mortgage Licensing System Consumer Access Goes Live
With the passage of the SAFE Act nearly 2 years ago, the entire mortgage industry has taken steps toward licensing loan officers and managing that licensing process.
And now consumers can easily lookup the knowledge in the NMLS system with the launch of NMLSConsumerAccess.org. The NMLS Consumer Acce…
More folks Turn To Big Banks For Mortgages
I was talking with a loan officer that I used to work with at another company that week – he now works for Bank of America in the signal center. He said that they are busier than ever and it isn’t strange for BofA to mandate that he works overtime, on weekends, etc. considering the phone…
US Banking System: Changes Coming?
In the last year and a half, the US Banking system has been in crisis – and at least some public claim that the entire system is worse off now than it was before the crisis.
The main culprit?
If you thought that some banks were too big to fail before the crisis, now we really have banks that a…
Chase 1% Mortgage Cash Back
Every once in a while, I see something “new” that I haven’t seen before. Earlier that month, Chase announced that they now have a “1% Mortgage Cash Back” program. According to the offer, highlights and details include:
“With any new Chase mortgage or refinance, ch…
4 Reasons To Choose Your Loan Officer Before Your Realtor
While there is no “right” way to go about choosing a loan officer or a Realtor to work with, one thing is clear – you are going to need to choose both a Realtor and a loan officer whether you are going to buy a home and finance it.
Probably the most popular method of selecting a Re…
