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Important News: FHA Reduces Mortgage Insurance on FHA loans after January 26th, 2015!

This means that anyone with an FHA loan is paying almost 60% more for mortgage insurance than they need to.  Consumers with FHA mortgages should consider refinancing with a FREE Streamline Refinance.





 

 

  

  

FHA Disclaimer: Cornerstone Mortgage is not acting on behalf of or at the direction of HUD/FHA or the Federal government.


Attention Homebuyers

 

 

If you are in the market to purchase a home, stop by our office at 1500 Standiford Ave., Building A for your Free Homebuyers Guide Monday-Friday 8:00 - 5:00.  This guide will give you valuable information that will help you navigate the home buying process and avoid critical mistakes. 






 


Here is the Latest Mortgage News:

































Mortgage News:
 
114-Year-Old Bank Fails
9/26/2016 10:31 PM
An Arkansas bank has failed. Meanwhile, the failure of a much larger bank seven years ago proved to be very profitable for the acquirer.....Last Friday, the Arkansas State Banking Department seized Allied Bank and closed down the Mulberry, Arkansas, financial institution.....Allied Bank, which was established back in 1902, reported that...Read More
 
Freddie Unveils New Risk Sharing Program
9/26/2016 10:31 PM
A new program from the Federal Home Loan Mortgage Corp. utilizes a panel of mortgage insurance companies to share credit risk.....Freddie Mac is using a new front-end credit risk transfer offering, Freddie Mac Deep MI CRT, according to an announcement Monday.....The pilot credit risk sharing program utilizes a forward credit insurance p...Read More
 
Wells Fargo Reaches Settlement in Robocall Case
9/26/2016 10:31 PM
Wells Fargo & Co."s banking subsidiary has agreed to settle allegations that it violated federal law on telephone calls made in connection with home loans.....A class action lawsuit filed against Wells Fargo Bank, N.A., alleges that it called, or sent non-emergency texts to, cellphones without prior express consent.....The calls wer...Read More
 
Enhanced DU Goes Live
9/26/2016 10:31 PM
After delaying an update to its automated underwriting system that will accommodate non-traditional credit, the Federal National Mortgage Association has taken it live.....Fannie Mae disclosed in June that the planned June 25 release date for Desktop Underwriter Version 10.0 would be delayed to ensure a successful implementation.....DU ...Read More
 
New Home Sales Down From July"s Stellar Level
9/26/2016 10:31 PM
The nation"s new home sales slowed in August, though they still remain strong. While sales in the Northeast plunged, they moved higher in the West.....Last month, the sale of new U.S. homes preliminarily totaled 50,000 units, slowing from July"s nearly nine-year high of 57,000 new houses sold.....But despite the month-over-month decline...Read More