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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:
Surprise Record Low for COFI
7/31/2015 8:25 PM
While other short-term indices have been on the rise lately, the Cost of Funds Index tumbled to an all-time low.....COFI, which is used to determine rate and payment changes on some adjustable-rate mortgages, was down one basis point in June.....It was the lowest level ever for the index based on the oldest available data going back to ...Read More
Jumbo Surge Despite Weekly Mortgage Activity Drop
7/31/2015 8:25 PM
Though weekly mortgage activity fell back, jumbo mortgage business leapt ahead in spite of a less favorable jumbo-conforming spread.....In the week ended July 31, the U.S. Mortgage Market Index from OpenClose and Mortgage Daily was 133.....The index, a reflection of average product-and-pricing inquiries per OpenClose...Read More
Excellent Month at Fannie Mae
7/31/2015 8:25 PM
New business ascended at the Federal National Mortgage Association, while home loan delinquency fell to a new post-crisis low.....Fannie Mae"s new business acquisitions moved up 10 percent in the month of June compared to the previous month.....The Washington-based secondary mortgage lender disclosed the operational metrics, as well as ...Read More
First Republic Bank"s Mortgage Originations Soar
7/31/2015 8:25 PM
Quarterly home lending activity at First Republic Bank was up by nearly half. Also increasing was the servicing portfolio and income.....Residential loan originations during the three months ended June 30 worked out to 48 percent more than was funded in the first quarter.....The San Francisco-based financial institution revealed the ope...Read More
Washington Appraiser Recognized Nationally
7/31/2015 8:25 PM
A real estate appraiser has been recognized by a national appraisal association for his ethics and contributions to the industry and community.....The Appraisal Institute held its 2015 Annual Meeting, AI Connect, this week at the Sheraton hotel in Dallas.....The event, which lasted three days, included a number of educational ses...Read More