Real estate market

Web portals are as guilty of making extra profit on your loan as any loan originator on the street.  If you search for a loan on the web, you will run into two different types of companies.  One is a list broker.  They are not in the mortgage business.  It is their job to persuade [...]

Now, let me tell you the secret no broker or bank wants you to know.  Almost every loan has at least 2% (or 2 points), and more often than not, 3% in it for the broker or bank as the mark-up/profit. (This is a good time to toss in a little industry lingo).
A point refers [...]

Profit is made when the loan moves from retail to wholesale.  The mark-up or profit on a loan originated by a broker is made when the loan closes.  This extra amount is on the settlement sheet and paid directly to the broker.
The mark-up/profit on a loan originated by a bank is made when the bank [...]

Non-conforming loans such as jumbo programs are usually sold to the secondary mortgage market in much the same way as conforming loans are sold through Fannie Mae and Freddie Mac.
Instead, it is usually private financial institutions who purchase from lenders across the nation those non- conforming loans that meet each institution’s guidelines. That private [...]

The second mortgage market has been an increasingly active industry during the past two decades, especially as homeowners discover their uses and cost-effectiveness. Fannie Mae and Freddie Mac normally do not purchase home equity loans and home equity lines of credit. In fact, credit lines are usually either portfolio, with the originating lender keeping [...]

The American free market economy is vibrant, dynamic and always looking for additional, more profitable business opportunities. The non-conforming is one such market for financial investors and lenders. Fannie Mae, Freddie Mac and Ginnie Mae only serve A-credit borrowers, who meet those agencies’ strict guidelines regarding income, employment, assets, property, etc. For a [...]

Mortgage loans can normally be categorized according to three categories, depending on how they are handled by the lender after closing:
● Portfolio
● Conforming
● Non-conforming
A portfolio loan is kept by the lender in its “portfolio” rather than sold to the secondary mortgage market. [...]

If the borrower in a refinance has at least two mortgages—both a first mortgage and a second mortgage—on the subject property, that borrower will have three refinancing options, which have different challenges:
● Consolidation. The borrower may choose to pay off both loans with a new refinance loan. This refinance loan [...]