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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:
 
Another Increase for COFI
5/1/2016 4:13 PM
For the fourth consecutive month, the Cost of Funds Index has risen over the previous month. Another index, though, has been falling.....As of March 2016, the 11th District COFI inched up less than a single basis point compared to one month previous.....The index is utilized to determine rate and payment changes on some adjustable-rate...Read More
 
Tennessee Bank Fails
5/1/2016 4:13 PM
A bank out of Tennessee has been seized by state regulators and closed down. Meanwhile, it was recently revealed that United Wholesale Mortgage"s retail unit previously closed down.....On Friday, the Tennessee Department of Financial Institutions seized control of Trust Company Bank, according to an announcement. The financial institution is ...Read More
 
Fannie"s New Business at 5-Month High
5/1/2016 4:13 PM
Business rose to the highest level in five months at the Federal National Mortgage Association, while delinquency fell to a nearly eight-year low.....New business acquisitions at the government-controlled enterprise totaled 14 percent more during March than during the previous month.....The last time that secondary mortgage lending act...Read More
 
PrimeLending"s Mortgage Closings, Servicing Down
5/1/2016 4:13 PM
Residential loans originations softened on a quarter-over-quarter basis at PrimeLending. Also declining was the lender"s mortgage servicing portfolio.....For the first-three months of this year, mortgage production at the Dallas-based firm came to 4 percent less than in the final-three months of last year.....The details, along with ot...Read More
 
New Mortgage Refinance Business Plunges
5/1/2016 4:13 PM
New refinance business took a dive this past week, driving down overall new mortgage activity in the process. Adjustable-rate mortgage activity ascended, though.....Mortgage Daily"s U.S. Mortgage Market Index, a measure of average per-user rate-lock volume by OpenClose clients, came in at 157 in the week ended April 29.....T...Read More