Long Beach, Ca. More good news on the loan origination front. We are seeing both more production in regard to loan applications, since February, the estimated US fundings this year have increased by $400 billion dollars. A lot of that is due to conventional refinancing. In the first quarter, we are expected to fund $.43 trillion that’s up from $.294 trillion in the fourth quarter of 2008.
Three Ways that FHA Underwriting is becoming tighter
Somethings to be aware about with FHA financing: Pretty much FHA financing is the only game in town right now … (1 comments)
loans: Long Beach mortgage professional offers four reasons why brokers help home borrowers.
- 11/21/07 04:18 PM
With the advent of the on line loan application combined with the fact that most home buyers have less time to meet mortgage professional then ever, one begins to ask the question: Are loan officers even necessary in the current market at all? Faced with the current credit crunch, many banks are cutting back in ways that don't make buying real estate any easier. Many Wholesale Account executive Loan officers are being let go from major institutional lenders like Bank of America. Entire divisions are being closed across the country in an effort to both squeeze out the mortgage broker and capture more retail … (0 comments)
loans: I have to pay an origination point to get a loan? But my cousin, in Long Beach, got a "pointless loan."
- 11/20/07 01:20 AM
Understanding that your cousin's Long Beach loan was a pointless loan has two different possible meanings: A). Your cousin's borrowing had no meaning and he was basically burning through his equity without reason (this is actually very common with Americans today, especially when given such an example by the American Government). B). Your cousin opted for a "no point" loan program, which means he is probably paying too much interest on his current mortgage debt(this is also very common with Americans today, especially with the American Government's infinite payments on our National Debt). The Truth about Origination Points: Quite simple said, this is how a lender makes money, by charging … (0 comments)
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