Time is of the essence. This phrase seems especially relevant in today’s mortgage industry. The J.D. Power and Associates 2009 Primary Mortgage Origination Satisfaction Study(SM) recently revealed a decline in overall customer satisfaction compared to that of 2008. This has been largely attributed to the increase…
Posts Tagged ‘loans’
Faster Than Your Average Lender
Posted by ecreal on November 16th, 2009
Pre-What?!
Posted by ecreal on October 10th, 2009
You’ve been preapproved! (…or was it prequalified?) But what does that really mean? Is it the same as prequalifying? The terms ‘preapproved’ and ‘prequalified’ are often confused or used intermittently, but they are not the same thing. Before you go shopping for a house, you should…
Who Is Ginnie Mae?
Posted by ecreal on October 7th, 2009
Ginnie Mae is the name commonly used to refer to the Government National Mortgage Association. Ginnie Mae was established by the Charter Act of 1968, which divided Fannie Mae into two parts; a privately-held corporation, which retained the name of Fannie Mae, and Ginnie Mae, a…
Avoiding The F-Word (foreclosure)
Posted by ecreal on September 27th, 2009
The government is making an effort to reduce the disturbing amount of foreclosures we are currently seeing through the Making Home Affordable program (MHA). Many struggling homeowners have found relief under MHA’s loan modification plan, known as HAMP. However for some, even with the assistance…
Can I Get Your Autograph?
Posted by gtong on September 12th, 2009
‘Can you co-sign a loan for me?’
Someone you know is trying to take out a loan, but they don’t qualify. They are asking you to co-sign for them, and it’s got you concerned. You’re putting your credit on the line for them, and you are…
Why Paying Points Makes “Cents”
Posted by kmcdonald on August 27th, 2009
I’ve been in the mortgage industry for over six years and one thing never ceases to amaze me: the minute I tell someone my profession, they always feel compelled to inform me of their “incredible rate” and how they “paid no points” when they obtained…