Cornerstone Mortgage

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Robert Copeland - Broker

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Are You Considering Refinancing a Home?         

If so, We offer:



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

Mortgage News:
Flagstar Fundings Up, Mtg Assets and Servicing Off
10/23/2014 8:03 AM
The mortgage servicing portfolio and residential lending assets shrunk at Flagstar Bancorp Inc., but home loan originations expanded.....From July 1 through Sept. 30, mortgage loan originations were down 21 percent from the second quarter, quarterly earnings data indicate.....But, in line with industry-wide trends, business sank from th...Read More
134-Year-Old Bank, Correspondent Lender Done
10/23/2014 8:03 AM
Among several mortgage-related businesses to recently call it quits was a bank that was 134 years old, three credit unions and a correspondent lender.....On Friday, Maryland Acting Commissioner of Financial Regulation Gordon M. Cooley took possession of NBRS Financial Bank. ....The action reportedly followed several years of losses caus...Read More
Over $1 Billion In Agency MSRs For Sale
10/23/2014 8:03 AM
Bids are being accepted on two portfolios of mortgage servicing rights with more than $1 billion in agency loans.....The first offering is for MSRs on 999 Fannie Mae loans with an aggregate principal balance of $155 million.....On a weighted-average basis, the interest rate is 4.255 percent, the service fee is 0.25 percent and the remai...Read More
Backdating Prompts Ocwen Servicer Downgrade
10/23/2014 8:03 AM
Allegations that Ocwen Financial Corp. backdated letters to distressed borrowers has prompted a downgrade to its servicing subsidiary"s rating.....The allegations were made in a letter Tuesday addressed to the company"s general counsel, Timothy Hayes, from New York Department of Financial Services Superintendent Benjamin M. Lawsky.....&...Read More
Proprietary Reverse Mortgage Originations Slide
10/23/2014 8:03 AM
Although the monthly origination of government-insured reverse mortgages has fallen, the decline has been more noticeable for proprietary production.....Retail originators were responsible for 1,944 of the 3,520 home-equity conversion mortgages endorsed by the Federal Housing Administration during August.....Retail activity slowed from ...Read More