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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:
 
AMCs Enhance Offerings
7/28/2015 7:34 PM
Several appraisal management companies have integrated new technology into their platforms in an effort to improve services to lenders. Meanwhile, appraisers and valuation firms are meeting in North Texas.....On Monday, the Appraisal Institute kicked off its AI Connect annual meeting at the Sheraton Dallas. The event, which runs throug...Read More
 
Ocwen Uses Shared Appreciation in Modifications
7/28/2015 7:34 PM
Some borrowers on home loans serviced by Ocwen Financial Corp. are seeing huge principal reductions in return for shared equity.....In one case, a state health care worker who lost disability benefits fell behind on her mortgage and was facing foreclosure.....The value of the borrower"s property had deteriorated to the point where her h...Read More
 
Retail Drives Lake Michigan CU Originations Higher
7/28/2015 7:34 PM
Despite a decline in quarterly correspondent mortgage business at Lake Michigan Credit Union, overall activity accelerated thanks to a surge in retail production. Servicing and staffing also ascended.....The Grand Rapids, Mich.-based organization closed 28 percent more in residential loans during the three months ended June 30 than it did dur...Read More
 
Home Price Gains Expected to Slow
7/28/2015 7:34 PM
Modest monthly gains in house prices were made in a closely watched home-price index, and the forecast is for increases to diminish over the next couple years.....For the month of May, the S&P/Case-Shiller Home Price 20-City Composite Home Price Index was 179.03.....That put the widely watched index at 1.1 percent more than...Read More
 
Flagstar Mortgage Production, Servicing Grow 
7/28/2015 7:34 PM
Quarterly home loan originations picked up at Flagstar Bancorp Inc. In addition, the financial institution"s mortgage servicing portfolio expanded.....From April 1 through June 30, Flagstar closed 16 percent more in new residential loans than it did during the first quarter.....This information, along with other operational and financia...Read More