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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:
 
FHA Lending Picks Up, But Delinquency Deteriorates
7/30/2016 10:33 PM
Monthly residential business moved higher at the Federal Housing Administration, but so did the rate of past-due payments. Commercial lending activity, however, was mixed.....As of May 31, FHA insurance was in force on 8,448,630 residential loans -- including single-family loans, home-equity conversion mortgages and Title I loans -- for $1.24...Read More
 
New Business More Than Doubles at Arch M.I.
7/30/2016 10:33 PM
New quarterly business more than doubled at Arch Mortgage Insurance Co., while the book of business grew and delinquency moved lower.....Earnings before income taxes at parent Arch Capital Group Ltd. totaled $263 million during the period from April 1 through June 30 of this year.....Income improved from the first quarter, when earnings...Read More
 
Originations, Servicing and Income Up at Impac
7/30/2016 10:33 PM
As home-lending activity increased at Impac Mortgage Holdings Inc., so did the size of its mortgage servicing portfolio and the amount it earned.....The Irvine, California-based mortgage banking firm earned nearly $13 billion before income taxes during the three months that ended on June 30.....Income improved from more than $1 million ...Read More
 
Updates to TRID Rule Proposed
7/30/2016 10:33 PM
Proposed changes to the TILA-RESPA integrated disclosures rule was welcomed by financial services associations, though three groups still have concerns.....On Friday, the Consumer Financial Protection Bureau released a proposal to update the Know Before You Owe Mortgage Disclosure Rule.....The disclosures, which are required unde...Read More
 
HELOC Discrimination Settlement at Citizens Bank
7/30/2016 10:33 PM
A financial institution out of the East has agreed to settle allegations that it discriminated against a woman who was on maternity leave.....Word of a conciliation agreement with two subsidiaries of Providence, Rhode Island -based Citizens Financial Group Inc. came on Friday.....The bank allegedly required a woman who was applying for ...Read More