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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:
 
Former CitiMortgage CEO to Run Caliber Home Loans
2/13/2016 9:40 PM
The former chief executive officer of CitiMortgage Inc. is stepping in to take over as the new senior executive at Caliber Home Loans Inc.....Sanjiv Das was appointed CEO of CitiMortgage in July 2008. It was his second time at Citigroup Inc., where he worked from 1991 to 1999.....Das stayed at the O"Fallon, Missouri-based home lender un...Read More
 
Annual Originations Up at McLean Mortgage
2/13/2016 9:40 PM
Although quarterly loan production eased at McLean Mortgage Corp., full-year origination activity moved higher. The entity trimmed its staff by just a few employees.....Home lending activity at the mortgage banking organization during the final three months of last year came to 4 percent less than in the previous three-month period........Read More
 
Rash of Credit Union Failures Continues
2/13/2016 9:40 PM
More than half of last year"s over two dozen mortgage-related business closings and failures were credit unions, and the trend is continuing this year.....On Feb. 5, the Wisconsin Office of Credit Unions served an order of liquidation on CTK Credit Union. The organization was located in Milwaukee.....The regulatory decision to liquidat...Read More
 
Business Down at United Guaranty, AIG Expands Board
2/13/2016 9:40 PM
New business tumbled at United Guaranty as the firm"s behemoth parent announced that it will add two new directors to its board.....During the final three months of last year, the mortgage insurance company wrote 27 percent less in new insurance policies than in the third quarter.....That was according to fourth-quarter 2015 earnings da...Read More
 
Refinances Surge as Mortgage Rates Tumble
2/13/2016 9:40 PM
Plunging mortgages rates drove refinance activity to the highest level in more than a year -- leaving overall lending activity busier than it"s been in 10 months.....The U.S. Mortgage Market Index from OpenClose and Mortgage Daily for the week ended Feb. 12 climbed 12 percent from a week earlier to 180.....The index is a r...Read More