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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:
 
Rising Trend in Mortgage Application Fraud Risk
4/29/2017 6:12 PM
For several months in a row now, the risk of home loan applications having bad or bogus data has been on the rise. Issues tied to robust real estate sales might be a factor.....The frequency that information submitted in residential loan application has defects, fraudulence and misrepresentation was 4 percent greater last month than in Februa...Read More
 
Mortgage Servicing Grows at Quicken Loans
4/29/2017 6:12 PM
An expansion in the size of its residential loan servicing portfolio was reported by Quicken Loans Inc. Originations, meanwhile, retreated.....The total mortgage servicing portfolio at the Detroit-based lender was $251.0 billion at the conclusion of the three months ended March 31.....Quicken delivered the number, plus other operational...Read More
 
MSRs on Nearly $3 Billion in Gov Loans Sold
4/29/2017 6:12 PM
A transaction involving the sale of mortgage servicing rights on nearly $3 billion in government loans, including past-due accounts, has closed.....The residential loans are either insured by the Federal Housing Administration or guaranteed by the Department of Veterans Affairs.....Mortgages that are included in the portfolio, some of w...Read More
 
Refis Pull Down Weekly Mortgage Business
4/29/2017 6:12 PM
New mortgage refinance activity tumbled this past week, dragging down overall home-lending activity. Government lending business, though, held up.....The U.S. Mortgage Market Index from Mortgage Daily and OpenClose, which does not reflect seasonal adjustments, was 152 in the week ended April 28.....That was a 7 percent dro...Read More
 
Mortgage Rates Rise, Unlikely to Move Higher
4/29/2017 6:12 PM
This week"s mortgage rates bounced off of the 2017 lows they descended to last week but are not likely to move higher over the next week.....For the entire month of March, conventional 30-year fixed rates on loans up $424,100 that were used to finance a home purchase averaged 4.24 percent.....The average, which was based on a small surv...Read More