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Robert Copeland - Broker

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     Cornerstone Mortgage     1500 Standiford Ave, Suite A1 Modesto, CA  953550

Mortgage News:
Rush to FHA Continues as Weekly Mortgage Biz Up
1/31/2015 7:03 AM
Weekly mortgage activity turned higher, and government-insured business saw the biggest improvement for the second week in a row.....The U.S. Mortgage Market Index from LoanSifter/Optimal Blue and Mortgage Daily for the week ended Jan. 30 was 259.....Compared to the previous report, the index -- which is reflective of aver...Read More
Seller-Servicer Approval Requirements Updated
1/31/2015 7:03 AM
Seller-servicers on conventional agency loans will likely soon be subject to revised financial requirements in order to maintain agency approval.....New minimum financial eligibility requirements were proposed by the Federal Housing Finance Agency Thursday for clients of the government-sponsored enterprises.....The proposed changes, whi...Read More
Insurer Subsidiary Moving Mortgage Jobs to Ohio
1/31/2015 7:03 AM
A mortgage banking subsidiary of an insurance company is moving approximately 175 mortgage jobs from Iowa to Ohio.....Nationwide Advantage Mortgage Co. currently conducts mortgage operations from a facility located in Des Moines, Iowa.....The residential lender is a subsidiary of Nationwide Mutual Insurance Co., which employs 4,300 peop...Read More
Ocwen Servicer Rating Lowered On Regulatory Scrutiny
1/31/2015 7:03 AM
Concern over increased regulatory scrutiny has prompted a servicer rating downgrade for an Ocwen Financial Corp. unit. Ocwen affiliates have received a pair of notices alleging default events.....Ocwen Loan Servicing LLC"s primary subprime servicer quality assessment had been rated at SQ3 on a scale where SQ1+ is the best rating and SQ5- is t...Read More
HECM Policy Change Reduces Available Draws for Some
1/31/2015 7:03 AM
While increasing consumer protections, program guideline changes on government-insured reverse mortgages also mean smaller draws for some borrowers.....One of the changes to the home-equity conversion mortgage program last year allowed a non-borrowing spouse to remain in the property when the borrowing spouse dies.....A second change la...Read More