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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:
Easier Condo Approvals Proposed by FHA
9/27/2016 5:17 PM
Less than a year after temporarily easing requirements on condominiums, the Federal Housing Administration is proposing to relax the approval process for condominium developments.....In November 2015, the Department of Housing and Urban Development issued Mortgagee Letter 2015-27 temporarily changing the requirements for condominium lending.<...Read More
CMBS Delinquency Slips, Office Loans Improve Most
9/27/2016 5:17 PM
The late-payment rate on securitized commercial real estate loans dipped, with office building loans improving most. Maturing loans continue to be a concern.....Delinquency of at least 30 days, including foreclosures, on loans that are part of commercial mortgage-backed securities landed at 2.95 percent in August.....Last month"s past-d...Read More
Home Prices Continue Up, NY Sees Big Monthly Gain
9/27/2016 5:17 PM
As home values near pre-crisis levels, the Northwest led the gain from a year earlier. But New York state had a strong month-over-month showing.....One widely watched measure of U.S. house prices, the S&P CoreLogic Case-Shiller Composite-20 Home Price Index, landed at 190.91 in July.....The index, which was reported on Tuesda...Read More
Some Charges Dropped Against Frmr Thornburg Execs
9/27/2016 5:17 PM
Some of the charges in a government securities lawsuit against former top executives of bankrupt Thornburg Mortgage Inc. have been dropped.....Amid the financial crisis, Thornburg -- a now-defunct jumbo mortgage lender based in Santa Fe, New Mexico -- filed bankruptcy in 2009.....In a 2012 lawsuit, the Securities and Exchange Commission...Read More
114-Year-Old Bank Fails
9/27/2016 5:17 PM
An Arkansas bank has failed. Meanwhile, the failure of a much larger bank seven years ago proved to be very profitable for the acquirer.....Last Friday, the Arkansas State Banking Department seized Allied Bank and closed down the Mulberry, Arkansas, financial institution.....Allied Bank, which was established back in 1902, reported that...Read More