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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:
 
Acting President Named at Ginnie
1/17/2017 11:09 AM
The president of the Government National Mortgage Association will depart with the outgoing administration, and an acting replacement has been named.....Theodore W. Tozer was sworn in as president of Washington-based Ginnie Mae in February 2010. He was nominated by President Barack Obama.....Tozer previously worked as senior vice presid...Read More
 
DOJ Sues MN Bank Over Mortgage Redlining Charges
1/17/2017 11:09 AM
The federal government has filed a lawsuit against a bank out of Minnesota alleging housing discrimination against minorities.....According to a notice from the Department of Justice"s Office of Public Affairs, a action was filed Friday against KleinBank.....KleinBank allegedly denied residents more in Minneapolis-St. Paul neighborhoods...Read More
 
NJ Bank is First to Fail in 2017
1/17/2017 11:09 AM
The nation"s first bank failure of 2017 was located in the Northeast. Two other financial institutions to go down were further west.....On Friday, the New Jersey Department of Banking and Insurance reported that it seized and closed down Harvest Community Bank.....The state said Harvest Community had three branches in addition to its P...Read More
 
HomeStreet Hurt by Market Forces, Settles w/SEC
1/17/2017 11:09 AM
HomeStreet Inc. revealed a small settlement with the Securities and Exchange Commission and said income was disrupted by the mortgage market.....An agreement has been reached in principle between the Seattle-based organization and the SEC"s staff related to a previously disclosed investigation.....That investigation by the federal secur...Read More
 
Moody"s Reaches RMBS Settlement
1/17/2017 11:09 AM
Moody"s Investor Services Inc. and some Moody"s affiliates have agreed to settle allegations of misleading investors about mortgage-backed securities.....The Department of Justice and attorneys general in 20 states have reached a settlement with the New York-based organization for $864 million.....Litigation against Moody"s accuses the ...Read More