Insider Mortgage Advice Blog

Big Banks Getting Bigger - Mortgage Reviews

Mortgage Insider Media LLC — Tue, 06 Oct 2009 02:45:15 -0500

I have decided since the big banks are simply getting bigger and more consumers will be using them for their mortgage needs...I'd better hustle up and get them all reviewed.

So I've been feverishly writing a bunch of mortgage reviews...here's the latest few...check them out before applying for a mortgage...

M&I Bank - Home Lending Solutions Mortgage Review

AmTrust Bank Mortgage Review

MetLife Home Loans Review

EverHome Mortgage Review

Regions Mortgage Review

Fifth Third Mortgage Review

Dovenmuehle Mortgage Review

US Bank Home Mortgage Review

BB&T Mortgage Review

Midland Mortgage Review

Mega-Bank Mortgage Review - US Bank

Mortgage Insider Media LLC — Mon, 28 Sep 2009 17:33:23 -0500

I just finished a review article on our mortgage blog on the mega-bank, US Bank. I provided all contact information as well as my opinion on their retail and wholesale mortgage operations.

I also provide BBB complaint data and some interesting news on their TARP participation. Read the review at the link below...

US Bank Home Mortgage Review

Wall Street Insiders School FDIC On OneWest Bank Deal

Mortgage Insider Media LLC — Wed, 16 Sep 2009 03:37:13 -0500

I posted an article back in March when the FDIC closed the IndyMac Bank purchase by their hand picked buyer, a group of Wall Street insiders who created a new bank called One West Bank specifically for this purpose.

I speculated then, the FDIC got hoodwinked into taking all the losses while the new bank got to keep the profits.

Well now it's six months later and OneWest Bank reported a huge profit week and my prediction came true. You can read the post with the new update by clicking the link below...

One West Bank Finalized Purchase of IndyMac

Rent To Own Real Estate Dangers

Mortgage Insider Media LLC — Tue, 15 Sep 2009 16:00:43 -0500

I just fininshed an article on the pitfalls of "rent to own" home purchasing methods. I know that a tight credit market makes the popularity of these methods rise, but in the end, there is more danger here than meets the eye...for both the buyer and the seller.

To read all the dangers of Lease to Own for both sellers and buyers...click link below...

Lease To Own Home Deals Bad For Everyone

Understanding Mortgage Broker Fees - Is This a "Junk Fee" or Not?

Mortgage Insider Media LLC — Wed, 26 Aug 2009 19:54:00 -0500

Mortgage shoppers seem to get confused by closing costs on a regular basis. No fee is more confusing than the "mortgage broker fees" entry on a Good Faith Estimate.

So is a mortgage broker fee a "junk fee" or is it a legit fee?

Well it is not that simple...so the short answer is "It depends"...

To get the full answer click on the link and read all about it in our recent post

....Mortgage Broker Defined.

Comparison Rate Shopping: Don't Believe The Hype!

Mortgage Insider Media LLC — Wed, 26 Aug 2009 13:10:30 -0500

Every mortgage company online and off line, advertise with some form of "Loweste Rates on the Planet" type of hyperbole in their advertising.

Don't fall for it!

This type of advertising while effective is misleading to say the least. Mortgage rates are extremely borrower specific and therefore no blanket rate statement could ever apply to all borrowers.

Learning how to compare mortgage rates to obtain truly the lowest possible rate for your situation is a skill...a skill that can be learned.

We show you how in this article...

Lowest Mortgage Rates: Three Vital Factors

Mortgages and Divorce: Get It Right or Pay The Price

Mortgage Insider Media LLC — Wed, 26 Aug 2009 12:57:17 -0500

Terri and I have seen the aftermath of bad advice for divorcing couples when it comes to protecting both parties' ability to get or keep their mortgage post divorce.

Lawyers are not too concerned with this area of post divorce living and therefore don't reall touch on it. They are more concerned with other financial areas like child support or alimony.

Nobody really counsels folks on credit scores, mortgage payments, and how to return to a "single person" from a credit reporting and liability perspective. Not doing so properly when a marriage ends can impact your ability to buy a home, get a mortgage, or refinance in the future.

Read this today...

Divorce Mortgage Mistakes

Applying For A Mortgage: Everything You Ever Wanted To Know

Mortgage Insider Media LLC — Wed, 26 Aug 2009 12:43:49 -0500

Terri just finished the "end all, be all" article on mortgage application anxiety and how to overcome it.

With knowledge comes peace of mind, so if you or anyone you know suffers from the nervousness or fear associated with the supplying all the financial data one must when applying for a mortgage, they should read this article.

They say the average person would rather strip in front of a stranger than reveal their financial picture...so you are not alone.

Read the post and put your fears to rest...

Mortgage Application Anxiety

"One Size Fits All" FHA Mortgage Rate - Not!

Mortgage Insider Media LLC — Fri, 21 Aug 2009 14:14:37 -0500

Every mortgage shopper if they are seeking an FHA mortgage, asks,

"What are today's FHA mortgage rates?" as if they are the same for every borrower.

Terri wrote a great article on the FHA mortgage rates and how they differ from conventional mortgage rates and even thought FHA mortgage rates are NOT "one size fits all", they can be estimated for those mortgage shoppers just trying to get a feel for the market.

You can read it here...

FHA Rates Today

Mortgage Servicing Company Reviews - Who Does Loan Mods and Who Doesn't!

Mortgage Insider Media LLC — Thu, 09 Jul 2009 14:09:16 -0500

Mortgage servicing companies are under fire now due to the spreading foreclosure crisis, so I wrote a bunch of mortage reviews on the companies who service loans giving folks an opportunity to tell me who is doing loan modifications to help out...and who in NOT...read them by clicking the links below...

Wilshire Credit Corporation Review, HSBC Mortgage Services Review, PHH Mortgage Services Review, EMC Mortgage Corporation Review, Specialized Loan Servicing Review, Select Portfolio Servicing Review, Ocwen Loan Servicing Review, Litton Loan Servicing Review, HomEq Servicing Review, Central Loan Administration & Reporting (CENLAR) Review, Carrington Mortgage Services Review,Bayview Loan Servicing LLC Review, First Franklin Loan Services Review, Green Tree Servicing Review, Aurora Loan Services Review, America's Servicing Company Review, Option One Mortgage - American Home Mortgage Servicing Review CitiFinancial Review, Saxon Mortgage Services Review.

Middle Credit Score: How It Is Used & Why It Is Important

Mortgage Insider Media LLC — Wed, 17 Jun 2009 11:50:47 -0500

I recently got a question on our mortgage article website that I answered and thought I would share here on AR.

The question was a credit question which asked basically what was the "middle score" and how was it used in the mortgage qualifying process. Click the link to learn more about the mortgage credit score in general.

My answer is too long to repost here, so just click the links above to read the full answer...

Free Mortgage Directory - Promote Yourself, Website, or AR Blog

Mortgage Insider Media LLC — Thu, 04 Jun 2009 07:51:39 -0500

I just created a new mortgage directory on our website, The Mortgage Insider, so mortgage brokers, lenders, and loan officers who understand the importance of online marketing can get some help.

You can add your listing totally free. If you have a website or an AR blog...promote that web address in your listing. All listing contain direct contact info like phone and address as well as web address.

There is also a text box where you can write a "promo" of up to 200 words.

Our website gets over 70,000 unique vistiors a month that view over 120,000 web pages....this is a real opportunity to get in clients for free.

Mortgage listings are categorized by State. You select your primary State when you add you listing. If you are licensed in other states, put that info in your "promo".

I have yet to determine just how many listings per State we are going to accept, but it will be "first come first serve"....so don't delay!

Get you listing now...Click Here to Add Your Free Lising.

You can see an example of how you listing will look....Click here.

For consumers....feel free to search the listings by clicking on your state below...

Mortgage Company Listing By State

Alabama Mortgage Brokers and Lenders

Alaska Mortgage Brokers and Lenders

Arizona Mortgage Brokers and Lenders

Arkansas Mortgage Brokers and Lenders

California Mortgage Brokers and Lenders

Colorado Mortgage Brokers and Lenders

Connecticut Mortgage Brokers and Lenders

Delaware Mortgage Brokers and Lenders

Florida Mortgage Brokers and Lenders

Georgia Mortgage Brokers and Lenders

Hawaii Mortgage Brokers and Lenders

Idaho Mortgage Brokers and Lenders

Illinois Mortgage Brokers and Lenders

Indiana Mortgage Brokers and Lenders

Iowa Mortgage Brokers and Lenders

Kansas Mortgage Brokers and Lenders

Kentucky Mortgage Brokers and Lenders

Louisiana Mortgage Brokers and Lenders

Maine Mortgage Brokers and Lenders

Maryland Mortgage Brokers and Lenders

Massachusetts Mortgage Brokers and Lenders

Michigan Mortgage Brokers and Lenders

Minnesota Mortgage Brokers and Lenders

Mississippi Mortgage Brokers and Lenders

Missouri Mortgage Brokers and Lenders

Montana Mortgage Brokers and Lenders

Nebraska Mortgage Brokers and Lenders

Nevada Mortgage Brokers and Lenders

New Hampshire Mortgage Brokers and Lenders

New Jersey Mortgage Brokers and Lenders

New Mexico Mortgage Brokers and Lenders

New York Mortgage Brokers and Lenders

North Carolina Mortgage Brokers and Lenders

North Dakota Mortgage Brokers and Lenders

Ohio Mortgage Brokers and Lenders

Oklahoma Mortgage Brokers and Lenders

Oregon Mortgage Brokers and Lenders

Pennsylvania Mortgage Brokers and Lenders

Rhode Island Mortgage Brokers and Lenders

South Carolina Mortgage Brokers and Lenders

South Dakota Mortgage Brokers and Lenders

Tennessee Mortgage Brokers and Lenders

Texas Mortgage Brokers and Lenders

Utah Mortgage Brokers and Lenders

Vermont Mortgage Brokers and Lenders

Virginia Mortgage Brokers and Lenders

Washington Mortgage Brokers and Lenders

West Virginia Mortgage Brokers and Lenders

Wisconsin Mortgage Brokers and Lenders

Wyoming Mortgage Brokers and Lenders

Results of Mr. Geithner's Bank Stress Test Will Be A Sham

Mortgage Insider Media LLC — Wed, 06 May 2009 14:30:05 -0500

I just finished an article on the Treasury Department "stress tests" for the banking industry in the light the results will be announced tomorrow. I wanted to get out ahead of the announcment to let folks know it the results are a sham. The tests were a waste of time and taxpayer money...

Read this to understand why...

Bank Stress Tests Meaningless At Best

Use the link to peruse our most recent posts at the Mortgage Insider blog

FDIC Creates New Method To Take Over Failed Banks

Mortgage Insider Media LLC — Fri, 01 May 2009 23:04:34 -0500

I just finished a post about the new way the FDIC created to handled failed banks and lending institutions. As of today with the failure of Silverton Bank, the FDIC opted to take receivership via a newly created "bridge bank".

Read all about here...

Silverton Bank Fails - FDIC Uses Bridge Bank As Vehicle

Use the link to peruse our most recent posts at the Mortgage Insider blog

For Mortgage Applicants Who Want To Know The Penalities For Lying On A Mortgage!

Mortgage Insider Media LLC — Thu, 23 Apr 2009 16:56:49 -0500

I just finished answering a great question by one of our readers of the Mortgage Insider Website. It was a very straightforward question about the penalties for lying on a mortgage application.

I research the penalities and was shocked! Civil and criminal penalities can be levied if fought guilty, but what really shocked me was the "negligent" aspect of those who could be found guilty.

You will be too...so click over and read

What are the penalties for lying on a mortgage application?

Freddie Mac Executive Found Dead

Mortgage Insider Media LLC — Wed, 22 Apr 2009 11:16:29 -0500

I just finished a post on the apparent suicide of Freddie Mac CFO, David Kellerman. I researched his bio and other online sources that could shed some light on this horrible tragedy. Our hearts go out to the family of another victim of the mortgage crisis. I wish I could say this was the first or the last...but I can't.

Please click over to our "outside" mortgage blog and read ...

David Kellermann - Freddie Mac CFO - Commits Suicide

Mortgage Insider Added New Calculators

Mortgage Insider Media LLC — Sat, 11 Apr 2009 17:22:31 -0500

I just finished adding some free mortgage calculators to the Mortgage Insider website.

All visitors and use these online mortgage calculators free and as often as they like. You don't even have to put in any contact information to access them...simply click on the links below and run as many scenarios as you'd like.

Enjoy!

Total Monthly Payment & Amortization Schedule Calculator

Debt Consolidation Mortgage Calculator

Home Equity or HELOC Mortgage Calculator

Early Payoff Mortgage Calculator

Bi-Weekly Mortgage Calculator

Mortgage Payment Calculator

Income Needed Mortgage Calculator

Max Mortgage Amount Calculator

Discount Point Savings Calculator

Refinance Savings Mortgage Calculator

Mortgage Tax Deduction Calculator

APR Mortgage Calculator:

Back to Mortgage Calculators

Mortgage Q & A Free Online - Ask a Question - Get an Answer!

Mortgage Insider Media LLC — Wed, 25 Mar 2009 14:34:30 -0500

We developed a "Question and Answer" area to our mortgage advice website. We divide up the questions into categories so readers can ask specific mortgage and real estate questions, and then we answer them and post to the appropriate category. Here are the Q & A Categories on the Mortgage Insider website:

Answers - Calculator

Answers - Credit

Answers - Equity Loan

Answers - Foreclosure

Answers - Mortgage

Answers - Mortgage Broker

Answers - Mortgage Lender

Answers - RE Investing

Answers - Real Estate

Answers - Refinancing

Answers - Servicing

Answers - YSP

Here is recent sampling of questions so you can get a sense of the types of questions getting answers. Readers can also comment on the answers to add to the conversation.

Will the servicing company reduce my rate just by asking?

Will the Obama plan help if I have a subprime mortgage servicer?

Can I convert one of my equity loans to an unsecured loan so I can sell the house?

Is it possible to transfer a rental property into a corporation?

Feel free to visit and "Ask a Mortgage Question" of your own!

Treasury Plan Gets Details Today - Wall Street Rallies!

Mortgage Insider Media LLC — Mon, 23 Mar 2009 15:22:15 -0500

I just finished an article on my "outside" mortgatge blog on the Treasury's plan to buying the banks bad assests and what is now being called "toxic" mortgages inside a "public private partnership" with private investors.

This Treasury program was announced about a month ago but at that time we were given no details. Now we have the details and at least Wall Street liked what they heard since the DJIA rallied over 500 points!

Read ...

Toxic Assets Plan Gets Warm Response From Wall Street

Obama Mortgage Plan Now Has A Website

Mortgage Insider Media LLC — Thu, 19 Mar 2009 14:45:24 -0500

I just reviewed the new website, Makinghomeaffordable.gov, which the Obama administration put up yesterday to help folks determine their eligibility for the government program.

As we all know, the Obama administration came out with a pretty confusing, multi-pronged, mortgage plan designed to help stem the housing crisis by promoting refinancing and helping with mortgage modifications for those facing foreclosure.

I must say ...and I do say in the review...this website is sorrowful effort by the government which is just another indicator how undeserving foreclosure victims are still viewed by the government.

Read the review here....

Makinghomeaffordable.gov Website Review

Foreclosure Tactic Gaining Popularity

Mortgage Insider Media LLC — Tue, 24 Feb 2009 21:06:16 -0600

I just finished a great post on the new foreclosure fighting strategy known as the "produce the note" strategy. Foreclosure victims across the land are having extreme difficulty getting their servicers or lenders to answer the phone and negotiate a loan modification if one is possible.

I hear on my mortgage website those folks who everyday are fighting to save their home but get stoned walled by the system.

So I champion any legal solution to force the lender to negotiate. Read the full post here...

Produce The Note - Growing Foreclosure Fighting Strategy

Mortgage Website Review Added

Mortgage Insider Media LLC — Wed, 18 Feb 2009 19:51:43 -0600

I recently added my review of the mortgage assistance given by the website Lowermybills.com. This website is a commonly visited website to mortgage shoppers and I thought they should know what they are in for if they attempt to use this site.

I also have posted many mortgage reviews on my "Mortgage Insider" website on mortgage servicing companies, mortgage lenders, and mortgage websites.

Read it here..

Lowermybills.com Mortgage Review

Housing Plan Misses The Mark on Foreclosure Help

Mortgage Insider Media LLC — Wed, 18 Feb 2009 16:03:57 -0600

Obama announced his housing plan today and even mentioned that 50% of the foreclosures come from the subprime mortgage borrowers.

Yet when it came to discuss loan modifications for subprime loans, the plan contained no "mandatory" compliance which is simply the Bush attitude revisited. I wrote a detailed critique called..

Obama Housing Plan - More of the Same for Subprime Borrowers

Click over and read it!

NAR and NAHB Get Their Bailout Bill

Mortgage Insider Media LLC — Sun, 08 Feb 2009 09:48:03 -0600

I wrote a post on my mortgage advice website on the Senate passing the tax credit on home buying which is hoped will stimulate the housing market.

This is a "bailout" for Realtors and Home Builders...which does NOT stimulate the economy...but it sure can slow down the housing market from hitting a supportable Demand vs. Supply equilibrium.

To learn what's in the amendment to the Stimulus Bill....click over and read...

$15000 Housing Tax Credit: Senate Adds Billions To Obama's Economic Recovery Bill

New Info On Everything Mortgage Including Reviews and Other Important Topics

Mortgage Insider Media LLC — Wed, 04 Feb 2009 19:03:33 -0600

I realized recently I have really grown our "outside" mortgage blog, The Mortgage Insider including many more Categories and posts, so I thought I'd let folks know about it here on AR.

Below is an updated list of Categories:

Feel free to click over and read a few posts that you feel are of interest.

Categories