Mortgage lenders

percent in July 2013, according to the U.S. Labor Department, about 3.5 million Americans have been out of work for more than two year. Another way that the crash affected is that it is harder to get a mortgage. Before the stock market crash of 2008, it was easy and quick to get a mortgage even if you had credit card issue or no…

When consumers consider refinancing a home mortgage loan, they often wonder if they should refinance their mortgage or not. There are many reasons to refinance a house, so when considering a refinance, it is important to make sure that there is a benefit to the new home loan. Without a benefit to the new home mortgage, there is no need to refinance. Lower Monthly Mortgage Loan Payment One of the main reasons people consider a refinance home loan is to lower the monthly payment. Refinancing can…

the world, the then- largest mortgage lender in the country was already on a fast track for derailment – a crash that helped cause the 2008 economic meltdown.” (Gael O’Brien) In 2002 the Georgia State Legislature set what should have been an example to the rest of the United States by passing the most aggressive predatory lending laws ever seen. The law made abusive fees on mortgages almost impossible and allowed prosecutors to bring up criminal charges against and lender who knowingly broke…

Versus Adjustable-Rate Mortgage Loan Donald Douglas Nicholson Post University When looking to purchase a house, buyers must first consider which type of mortgage loan is right for them. A fixed-rate mortgage and an adjustable-rate mortgage (ARM) loan are two of the most popular options. According to the Consumer Financial Protection Bureau (CFPB), “fixed-rate mortgages, the interest rate is set when you take out the loan and will not change. With an adjustable rate mortgage, the interest…

Bad credit mortgage helps you to buy your dream house in spite of a poor credit record. Such a mortgage facility was created mainly due to the increase in the number of people with a poor credit rating. A Brief Overview Having low credit has become a common occurrence now and the system of bad credit mortgage has come about to provide credit to such people. For a person who has a bad poor financial rating, it may seem that his dreams of buying his own house are unattainable. However, now,…

bulging bubble of the housing market in the United States as previously predicted finally burst in late 2007. With several contributors that previously pumped air into the over-inflated housing bubble now losing steam, the burst of the bubble (or mortgage meltdown) with its remnants was experienced by many Americans whether on a personal or a national level. The burst of the housing bubble saw many home owners lose their homes to foreclosure; short-sales and even bankruptcy as the value of…

These mortgage loans are used for borrowers to buy their properties, whether residential or commercial (Burks, 2016). Mortgage loan officer typically work from his/her office or home and go on various meeting with clients. When the mortgage loan officer is working for commercial, he/she will need to go visit the property to conduct business. However, if the mortgage loan officer is specialized in customer loan the traveling is at a minimum…

Traditionally when customers apply for a mortgage the customer would put 20% down and then take a mortgage out for the other 80%, but as the prices of home began to rise lenders began to make loans to perspective homeowners who normally would not qualify (Bigio). In 2008 the United States of America suffered a financial crisis in…

Based on the case article entitled: “Mortgage Crisis Analysis – What Caused the Mortgage Crisis?” by Aubrey Clark, the mortgage crisis was instigated by consumer demand, oblivious politicians, and the competition against banks, small brokers and lenders. There are three types of mortgages which are the Government (FHA), Conforming (Fannie Mae and Freddie Mac) and the private subprime lenders that are usually funded by larger banks. These lenders have established a practice of buying the loan…

1990s to mid-2000s. Lehman’s acquisition of subprime mortgage loans led to record profits during the housing bubble; however, these risky investments proved to be the major cause of their failure. (Investopedia, 2017) Subprime mortgage loans are described as mortgages issued to people who could not qualify for a conventional mortgage due to low credit ratings, and thus charge a higher than prime interest rate. During the housing boom, subprime mortgages were popular and often issued to people…