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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:
 
Caliber Making Significant Acquisition
5/25/2016 7:31 PM
The planned acquisition of a California-based company will add $1.5 billion to Caliber Home Loans Inc."s annual originations and hundreds of employees to its payroll.....Irving, Texas-based Caliber already had been on a high-growth path. Fourth-quarter 2015 originations totaled 12,474 mortgages, soaring 61 percent from a year earlier...Read More
 
New Wholesale Programs Launched
5/25/2016 7:31 PM
Among several new programs recently offered by wholesale lenders are non-QM loans, reverse mortgages and jumbo mortgages. Commercial mortgage products also hit the market.....Home loans that don"t meet Qualified Mortgage requirements are now available from A&D Mortgage. The wholesale non-QM programs include residential and commercial prod...Read More
 
OCC Terminates Wells Fargo Consent Order
5/25/2016 7:31 PM
A federal consent order against Wells Fargo Bank, N.A., over its mortgage servicing practices has been terminated -- though not without a penalty.....The Office of the Comptroller of the Currency issued consent orders in April 2011 against 14 servicing-related entities -- including Wells Fargo Bank.....The consent orders required the se...Read More
 
Ocwen Touts Results from Independent Analysis
5/25/2016 7:31 PM
Challenges by hedge funds to Ocwen Financial Corp."s handling of distressed loans it serviced have been answered with a satisfactory report from an independent consultant.....In January 2015, investors in 42 Ocwen-serviced residential mortgage-backed securities issued a notice of non-performance to the RMBS trustee, Wells Fargo Bank, N.A.
Read More
 
Home Purchase Financing Applications Climb
5/25/2016 7:31 PM
Fueled by an acceleration in purchase financing activity, the volume of overall applications for new residential loans moved higher on a week-over-week basis.....The number of prospective mortgage borrowers who applied for a new home loan in the week ended May 20 increased by 2 percent from a week earlier.....That seasonally adjusted me...Read More