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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:
 
Freddie"s New Business Sinks to 12-Month Low
3/24/2017 7:09 AM
It"s been a year since secondary activity was this low at theĀ Federal Home Loan Mortgage Corp. Delinquency, meanwhile, fell to a new post-crisis low.....Purchase and issuances during February at Freddie Mac came to $29.032 -- the slowest month since February 2016, when the total was $26.034 billion.....The McLean, Virginia-b...Read More
 
Mortgage Rates Tumble, Could Stay Down
3/24/2017 7:09 AM
Prospective home loan borrowers got a break on rates this past week. Odds are rates will stay down or dip a little further in the next report.....In Freddie Mac"s Primary Mortgage Market Survey for the week that ended on March 23, thirty-year fixed rates averaged 4.23 percent.....That was 7 basis points lower than in the previous...Read More
 
3rd Credit Bureau Settlement in 3 Months
3/24/2017 7:09 AM
Another settlement reached with a credit bureau marks the third such action in as many months and the third of the big three credit repositories to settle.....In late December, TransUnion revealed in a Securities and Exchange Commission filing a $19.4 million settlement with the Consumer Financial Protection Bureau.....Then, just a few ...Read More
 
Approvals Automated for Nontraditional Credit
3/24/2017 7:09 AM
Loan applicants who don"t have a traditional credit scores will soon be able to obtain automated approvals using nontraditional credit.....Up to this point, primary lenders had to manually underwrite Freddie Mac residential loans for borrowers who don"t have credit scores.....But that is about to change, according to an announcement on ...Read More
 
Biggest Commercial Mortgage Originators
3/24/2017 7:09 AM
The results have arrived for the ranking of the country"s 10 largest originators of commercial real estate loans during all of last year.....Wells Fargo & Co. originated 6,928 commercial mortgages during 2016 that had an aggregate principal balance of $65.394 billion.....The level of activity at the San Francisco-based company lande...Read More