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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:
Mortgage Bankers Boost 3-Yr Outlook by $300 Bil
8/24/2016 8:37 AM
Expected loan originations for the three years ended 2018 have been increased by $300 billion, with both purchases and refinances benefiting.....Total U.S. mortgage production, including refinancing and purchase financing, is forecasted to reach $561 billion during the the third quarter.....Home-lending activity is then projected to tum...Read More
Non-QM Securitization Closes
8/24/2016 8:37 AM
A securitization of primarily non-agency residential loans that don"t meet the requirements of the Qualified Mortgage rule has been completed.....The residential mortgage-backed securities included $119 million in senior classes of certificates and $13 million in subordinate classes.....But although the securitized loans are not conside...Read More
MSRs on Nearly $3 Bil in GSE Loans Up for Auction
8/24/2016 8:37 AM
Servicing rights on almost $3 billion in residential loans backed by the government-sponsored enterprises are being auctioned off to the best bidder.....The non-recourse offering of mortgage servicing rights is being made on a portfolio of 12,713 Fannie Mae and Freddie Mac loans for $2.845 billion.....FNMA A/A mortgages make up 11,277 u...Read More
Nearly 9-Year High for New Home Sales
8/24/2016 8:37 AM
For the second month in a row, the volume of new homes sold was the greatest it"s been in over eight years. The Northeast led the gain.....Home buyers purchased 57,000 new houses during July -- the most new residential properties sold during any month since October 2007.....During the previous month, sales of newhomes were a downwardly ...Read More
New Mortgage Application Arrives
8/24/2016 8:37 AM
A new loan application for single-family loans has been unveiled for use on government-sponsored enterprise loans and government-backed mortgages.....The redesigned Uniform Residential Loan Application was jointly developed by Fannie Mae and Freddie Mac in collaboration with industry stakeholders.....It"s been more than two decad...Read More