In October 1968, with the United States fighting wars against poverty at home and perceived communist threats abroad, the S&P 500 Index climbed on the back of an overheated economy to record highs in both real and nominal terms. The boom times were not to last. Adjusted for inflation, stocks would not return to their … Continue reading Keep an Eye on Inflation
FICO® Scores And Your Mortgage
Years ago, credit scoring had little to do with mortgage lending. When reviewing the credit worthiness of a borrower, an underwriter would make a subjective decision based on past payment history. Then things changed. Lenders studied the relationship between credit scores and mortgage delinquencies. There was a definite relationship. Almost half of those borrowers with … Continue reading FICO® Scores And Your Mortgage
Advantages of Different Lenders
WHAT KIND OF LENDER IS BEST? If you ask a loan officer, “What kind of lender is best?” the answer will be whatever kind of company he works for and he will give you a list of reasons why. If you meet the same loan officer years later, and he works for a different kind … Continue reading Advantages of Different Lenders
Types of Mortgage Lenders
MORTGAGE BANKERS Mortgage Bankers are lenders that are large enough to originate loans and create pools of loans, which are then sold directly to Fannie Mae, Freddie Mac, Ginnie Mae, jumbo loan investors, and others. Any company that does this is considered to be a mortgage banker. Some companies don’t sell directly to those major … Continue reading Types of Mortgage Lenders
Value of a Real Investor
There is great value in working with a real investor, not only because of the knowledge and skills people can learn from real investors, but also because this type of mentoring provides professional socialization and personal support to facilitate success in one’s personal life too. Quality mentoring greatly enhances people’s chances for success. Research shows … Continue reading Value of a Real Investor
Where Does The Money Come From For Mortgage Loans
In the old days, when someone wanted a home loan, they walked downtown to the neighborhood bank. If the bank had extra funds lying around and considered you a good credit risk, they would lend you the money from their own funds. It doesn’t generally work like that anymore. Most of the money for home … Continue reading Where Does The Money Come From For Mortgage Loans
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