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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:
 
Consumer Bankruptcies at Lowest Level in 6 Months
9/2/2015 4:43 PM
Fewer consumers resorted to bankruptcy last month, with monthly filings falling to their lowest level in six months.....Businesses and consumers filed a total of 67,712 new bankruptcies in the month of August, fewer than the upwardly revised 71,854 the previous month.....New filings were also lower than during the same month last year...Read More
 
Record Bank Earnings, Soaring Mortgage Originations
9/2/2015 4:43 PM
Quarterly home lending activity was up by more than a fifth at U.S. banks, while earnings soared to an all-time high.....Federally insured banks closed $210.2 billion in residential loans during the three months ended June 30. The total included first liens, second liens and lines of credit.....The mortgage origination statistics were p...Read More
 
Discrimination Lawsuits Against 3 Lenders Revived
9/2/2015 4:43 PM
A trio of dismissed lawsuits filed by the city of Miami against three of the country"s biggest home lenders over alleged discrimination have been revived thanks to a federal appeals court.....Named as respective defendants in the three lawsuits are Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. as well as some of their affil...Read More
 
2-Year High for HECM Production
9/2/2015 4:43 PM
It has been more than two years since originators of federally insured reverse mortgages have been as busy as they were last month. Volume was up by over half at an Ocwen Financial Corp. unit.....The number of home-equity conversion mortgages that were endorsed by the Federal Housing Administration during August came to 14 percent more than a...Read More
 
New Penn Rated as Average Originator
9/2/2015 4:43 PM
When it comes to jumbo and non-QM mortgage production, New Penn Financial LLC is considered to be an average originator.....On originating prime jumbo loans that meet Qualified Mortgage requirements, the Plymouth Meeting, Pennsylvania-based company is considered average.....In addition, New Penn is considered to be an average originato...Read More