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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:
 
Low Mortgage Rates Likely to Stay Down
7/1/2016 6:41 AM
Interest rates on home loans sank on uncertainty created by the British vote to exit the European Union and are likely to remain low in the next report.....During May, fixed interest rates on conventional 30-year mortgages that had loan amounts of $417,000 or less landed at an average of 3.89 percent.....The Federal Housing Finance ag...Read More
 
Tougher Distressed FHA Loan Sale Requirements
7/1/2016 6:41 AM
Investors of distressed Federal Housing Administration loans are facing tougher requirements that will benefit borrowers and avoid neighborhood blight.....The Distressed Asset Stabilization Program was launched by the Department of Housing and Urban Development in 2010 and enhanced in June 2012.....It was intended to ...Read More
 
GSE Non-Performing Loan Sales Exceed $8 Billion
7/1/2016 6:41 AM
A new report provides insight into the sale of non-performing loans by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp.....Fannie Mae and Freddie Mac have sold more than 41,600 non-performing mortgages with an aggregate unpaid principal balance of $8.5 billion through May 31.....Average delinquency on t...Read More
 
MSR Offering Could Exceed $1 Billion in GSE Loans
7/1/2016 6:41 AM
A flow offering could work out to mortgage servicing rights on more than $1 billion in government-sponsored enterprise loans.....The future-flow-delivery offering involves MSRs on approximately 224 Fannie Mae residential loans for $75 million per month.....Although the minimum commitment is six months, the seller is hoping to enter into...Read More
 
Fannie Eases Requirements
7/1/2016 6:41 AM
Updates to the Federal National Mortgage Association"s guidelines impact HomeReady loans, self-employed income and insurance requirements.....Prospective borrowers whose qualifying income is as much as 100 percent of the area median income will now be eligible for HomeReady loans.....In addition, no income limit will apply on HomeReady ...Read More