best: Tips for Choosing the right Loan Officer
- 07/31/13 06:26 AM
In this market it takes an extraordinary amount of energy to get a loan closed with new regulations, lenders changing their guidelines and rates shooting up and down. Are you working with the right Loan Officer? For most people, a home is the biggest investment they will ever make. However, few people do the research necessary to make a good buying decision. The home-purchase process is extremely confusing for most people. With a little bit of homework, and some advice from family and friends who have been through the process before, you can make this a little easier on yourself. … (0 comments)
best: New Record Low for Mortgage Interest Rates
- 09/27/12 12:18 AM
All-Time Low: 30-Year Fixed-Rate Mortgage Averages 3.40 Percent Minneapolis, MN: Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates breaking their previous average record lows helping to keep homebuyer affordability high and refinancing strong to support an already improving housing market. All mortgage products, except the 5-year ARM, averaged new all-time record lows. News Facts 30-year fixed-rate mortgages averaged 3.40 percent with an average 0.6 point for the week ending September 27, 2012, down from last week when it averaged 3.49 percent. Last year at this time, the 30-year FRM averaged 4.01 percent. … (3 comments)
best: How to pick a Loan Officer
- 07/30/12 01:34 AM
With today's super low mortgage rates, many people are looking to refinance or buy a home. Everyday, they call lenders and ask "What is your rate." A seeming logical question to ask - but the reality is, the #1 most important aspect of a successful mortgage transaction is the quality of the Loan Officer. When selecting a Mortgage Loan Officer, most people mistakenly call their local bank first and assume the banks have hired qualified people. The reality is, most banks hire relatively new, and have low paid people as mortgage loan officers. Bank Loan Officers are NOT required to have any education, nor do … (1 comments)
best: Mortgage Shopping? How to protecting yourself against predatory lenders and mortgage scams
- 10/31/11 05:27 AM
Protecting yourself against predatory lenders, mortgage scams, and Loan officers screw-ups Mortgage rates are amazing. That's great news for veteran loan hunters. But for inexperienced shoppers who don't watch their backs, the mortgage business can still be a scary place to travel. The internet especially has made it easier for sly lenders to mislead and take advantage of naïve consumers using any number of tricks, from quoting bogus rates over the telephone to slipping gratuitous costs into their loans. To avoid these problems -- as well as other trip-ups posed by the confusing mortgage process itself -- consumers have to brush … (1 comments)
best: Top refinance mistakes and how to avoid them
- 10/05/11 01:54 AM
TOP REFINANCE MISTAKES St Paul, MN: Mortgage interest rates are the best in years, and everyone is thinking "should I refi" my home mortgage loan? For most people, a home is the biggest investment they will ever make. However, few people do the research necessary to make a good buying decision. The home-purchase process is extremely confusing for most people. With a little bit of homework, and some advice from family and friends who have been through the process before, you can make this a little easier on yourself. There is no substitute for taking the time to educate yourself before … (0 comments)
best: Is your Loan Officer Licensed, or simply registered? There is a BIG difference YOU need to understand
- 09/20/11 02:02 AM
Is your Loan Officer Licensed, or simply registered? There is a BIG difference YOU need to understandRecent changes to the lending industry requires all loan officers to have a tracking number, known as an NMLS number (Nationwide Mortgage Licensing System and Registry). It should be displayed on their business cards, E-Mail, web sites, all correspondence, and most loan documents. The display of the NMLS number may make many believe the Loan Officer is licensed. Sadly, this isn't true, and working with an unlicensed, untrained Loan Officer can cause you many headaches and hassles. Simply put, Loan Officers at Banks, most … (6 comments)
best: Shopping Around For A Mortgage Lender? Four questions to ask.
- 05/26/11 05:42 AM
Shopping Around For A Mortgage Lender? Here is THE INSIDE SCOOP on how to IDENTIFY A PROFESSIONAL MORTGAGE LENDER, BROKER, and LOAN OFFICER HERE ARE FOUR SIMPLE QUESTIONS your Loan Officer absolutely MUST be able to answer CORRECTLY. IF THEY DO NOT KNOW THE ANSWERS - RUN, DON’T WALK RUN TO A LENDER THAT DOES! 1) What are mortgage interest rates based on? (The only correct answer is Mortgage Backed Securities or Mortgage Bonds, NOT the 10-year Treasury Note. While the 10-year Treasury Note sometimes trends in the same direction as Mortgage Bonds, it is not unusual to see them move … (0 comments)
Mortgage industry news and insights from a 15+ year industry expert. Mortgage are Real Estate News You Can Use.
Joe is a Certified Minnesota Mortgage Specialist, who provides home mortgage loans not only in the Minneapolis, St Paul area, but all of Minnesota and Wisconsin.
In this market it takes an extraordinary amount of energy to get a loan closed with new regulations, lenders changing their guidelines and rates shooting up and down. 
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