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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:
 
Fairway"s Annual Lending, Servicing and Staffing Up
2/21/2017 10:18 PM
Fairway Independent Mortgage Corp. experienced a year-over-year expansion in its home-lending volume, servicing portfolio and employee count.....The Sun Prairie, Wisconsin-based organization serviced 20,969 residential loans with an unpaid principal balance of $4.420 billion as of Dec. 31, 2016.....Those details, along with other operat...Read More
 
Biggest 2016 Commercial Mortgage Servicers
2/21/2017 10:18 PM
When it comes to servicing the country"s commercial real estate loans, there has been a shakeup among the biggest players versus a year earlier.....PNC Real Estate/Midland Loan Services serviced 32,559 CRE loans with an aggregate principal balance of $517.522 billion as of Dec. 31, 2016.....That made the company the biggest CRE loan ser...Read More
 
2018 Home Purchase Financing Forecast Lowered
2/21/2017 10:18 PM
The expected volume of lending to finance home purchases next year has been lowered, as was the estimate for last year"s production.....From Jan. 1 through March 31, total mortgage originations -- including purchases and refinances -- are projected to reach $351 billion.....Residential loan production is then expected to climb to $431 b...Read More
 
1st Mortgage Delinquency Worsens Again
2/21/2017 10:18 PM
For the second month in a row, the rate of seriously past-due payments on residential loans in first-lien position moved higher. The second-mortgage rate also rose.....The Consumer Credit Default Index indicated that 90-day consumer delinquency was 0.92 percent at the end of last month, up 3 basis points from a month earlier........Read More
 
Up Tick in Annual HAMP Volume as Proprietary Down
2/21/2017 10:18 PM
Although overall loan modification volume was down in 2016, an increase was recorded for the government-supported program.....Last year, residential servicers were successful at modifying a total of 373,630 U.S. mortgages on behalf of distressed borrowers.....But activity retreated compared to 2015, when the number of borrowers whose ho...Read More