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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:
 
Hilltop 2016 Mortgage Earnings Down, Lending Up
2/25/2017 4:35 PM
Last year, mortgage production moved higher at  Hilltop Holdings Inc. But earnings from the home-lending business turned sharply lower.....During the final-three months of last year, income before income taxes was $53 million. Earnings fell from $86 million in the previous quarter.....Hilltop, the parent of PrimeLending, provided t...Read More
 
Waning Refinances Drive Up Mortgage Fraud Risk
2/25/2017 4:35 PM
As the share of refinance mortgage originations continues to subside, more risky financing for home purchases is driving up the level of mortgage fraud risk.....As of January, the Loan Application Defect Index -- an estimate of the frequency of defects, fraud and misrepresentation on mortgage applications -- was 73.....Compared w...Read More
 
Former Executives of Big Mortgage Firms Recruited
2/25/2017 4:35 PM
Some smaller and younger mortgage banking organizations have recruited former executives from large, more established home lenders.....Dan Hanson is the new chief retail production officer at loanDepot LLC, according to the Foothill Ranch, California-based company.....He was promoted to the position in January from executive vice presid...Read More
 
New Home Sales Accelerate, Northeast Leads
2/25/2017 4:35 PM
The annual pace of new home sales strengthened last month. The Northeast led the rise, though the Midwest was close behind.....During the first month of this year, the sale of 41,000 new privately owned residential housing units was successfully completed.....Activity accelerated from 38,000 in the final month of last year and an upward...Read More
 
Impac Originations Tumble, Could Plunge in Q1
2/25/2017 4:35 PM
Quarterly home lending sank by over a fourth at Impac Mortgage Holdings Inc. and is likely plunging during the current quarter.....Before income taxes, the Irvine, California-based organization earned $17 million during the three months ended Dec. 31, 2016.....Those details, along with other operational and financial results, were prese...Read More