Mortgage finance: insecure about securitization.(Tower on Tech): An article from: Mortgage Banking

This digital document is an article from Mortgage Banking, published by Thomson Gale on December 1, 2007. The length of the article is 1125 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Mortgage finance: insecure about securitization.(Tower on Tech)
Author: Craig Focardi
Publi

List Price: $ 9.95

Price: $ 9.95

Find More About Mortgage Loans Products



xml:lang=”en” lang=”en” xmlns=”http://www.w3.org/1999/xhtml”>

New Home Mortgage Loan Rate Products for Canadians – from The Mortgage Store Online

Toronto, Ontario (PRWEB) June 7, 2007

The Mortgage Store Online (TMSO) announced today their offering of several new mortgage rate products for home loans in Canada. Including both adjustable rate and fixed rate mortgage products, Canadians can use these new mortgage options to purchase a new home, refinance their current property, tap into their home’s equity, and more.

These newly offered mortgages have the potential to provide significant savings to Canadian borrowers. In addition, they offer flexibility in interest rates and mortgage payment options. “These new home mortgage products can provide borrowers with considerably low rates and payments,” states Joe Janovich, President of The Mortgage Store Online. “Some come with line of credit options and others offer special cushions of safety for adjustable rate mortgages.”

The new mortgage options for Canadians home borrowers include:

1. Fixed adjustable rate mortgage loan WITH a line of credit option.

This fixed and adjustable rate combination mortgage allows a portion of your mortgage amount to be charged with the fixed rate of interest, and the other portion to be charged with the adjustable rate. This type of mortgage also comes with the option of allowing the adjustable rate portion of your mortgage to become a line of credit. You can borrow from this amount as you please, just as you would with a credit card or bank line of credit, but with a much lower interest rate.

2. Adjustable Rate Mortgage Loan WITH Low Introductory Rate

This adjustable rate mortgage option comes with an ultra low introductory mortgage rate of 3.49% which borrower’s can keep for 3 months.

3. Adjustable Rate Mortgage Loan WITHOUT Introductory Rate.

This adjustable rate mortgage comes without a low introductory rate, but starts at Canada’s current lowest mortgage rate of 5.1%, and is afterwards adjusted on a monthly basis, if necessary, so that it is always 0.90% below the Canadian economy’s prime rate. This mortgage also comes with an option of having the rate adjusted every 4 months, despite any changes to the prime rate , but starts at a rate of 5.2%

“These new mortgage rate products only represent a few of the many we offer through our company,” says Janovich. “Because of our access to all major Canadian lenders – including banks, trust companies, and even private mortgage companies – we have an exhaustive amount of home mortgage loan programs, each with unique benefits for borrowers”

A full list of mortgage services provided by The Mortgage Store Online can be viewed on their website, themortgagestoreonline.com.

SPECIAL OFFERS

Request free mortgage rate quotes.

OTHER MORTGAGE NEWS

Fixed rate home mortgage loans still the better option over adjustable rate mortgage loans – an exclusive report from The Mortgage Store Online (TMSO)

ABOUT THE MORTGAGE STORE ONLINE

With headquarters in Ontario, Canada, The Mortgage Store Online provides home and commercial mortgage loans in most Canadian provinces (excluding Quebec and the Territories). Founded by veteran mortgage broker Joe Janovich, The Mortgage Store Online couples ‘real world’ experience, industry relationships, customer service and secure technology with the convenience of the Web. For more information, visit http://www.themortgagestoreonline.com or call 866-880-2577.

###

Attachments

©Copyright 1997-, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Criminal fraud may be the most underreported aspect of our current financial crisis. In this “Road to Ruin” report, former subprime lenders from Ameriquest, once the country’s largest lender, describe a system rife with fraud. They describe how a “by-any-means-necessary” policy pushed employees to cut corners and falsify documents on bad mortgages and then sell the toxic assets to Wall Street banks eager to make fast profits.
Video Rating: 4 / 5

Dawn Welsh a 54 year grandmother is raided in her own home, for what…owning her own home. If this sounds like something straight out of the Twilight Zone, well welcome to America in 2009. Listen as the fascist US government steals an American grandmother’s home and terrorizes her!!!!! Dawn Welsh of Hillsboro, MO Arrested for Trespassing in Her Own Home After Supposed Mortgage Scam. Dawn Welsh knows her house was paid off. She received paperwork from the original mortgage company showing it was paid off. However through a fraudulent conversion of the mortgage, Wachovia Bank claimed authority of the mortgage and then claimed Welsh still owed on her home despite her having proof from the original bank that the note was paid in full. Today, Hillsboro, Missouri police came onto her property and broke her door down to remove her from her property. They used a battering ram to enter her home, despite her showing evidence that she owned the property. She had gone to court previously and showed a judge the mortgage was paid in full, and it is a record of the court. However, these are desperate times for the fraudulent vampirian banksters and they will go after anyone they want, threatening innocent hard-working Americans at every turn. And to top it off the Hillsboro sheriff was an accomplice to this crime, executing the fraudulent crime and rubbing it in further by seizing all of the 54-year-old woman’s possessions. When these mortgages are sold from the original mortgagee to …
Video Rating: 4 / 5

Bank of America Home Loans Specialist talks about what to Do and what NOT do while applying for a Home loan. More helpful tips and articles for managing finances at www.financialcoachshow.com and http
Video Rating: 0 / 5



xml:lang=”en” lang=”en” xmlns=”http://www.w3.org/1999/xhtml”>

Offset Mortgage Centre Compare Flexible Loans

(PRWEB) December 23, 2007

The leading specialist mortgage review website, The Offset Mortgage Centre, is pleased to announce the recent publication of their guide to comparing flexible loans, titled ‘Self Building Or Investing: We Compare Flexible Loans’. The guide, which is available for free on their website (http://www.offsetmortgagecentre.co.uk), looks at flexible loans for people in an unusual financial situation or who are doing something out of the ordinary with a home purchase, and can be found here: http://www.offsetmortgagecentre.co.uk/compare-flexible-loans.html.

“There are an abundance of offset mortgages, current account mortgages and flexible mortgages on the market to suit almost every situation”, said Terry Ruddy, Online Marketing Director at The Offset Mortgage Centre, “but for investors and self-builders there’s far fewer flexible loan products to compare”.

The piece begins by explaining the types of flexible loans that are available to self-builders and the difference between a flexible loan and the more traditional self build mortgage. It then goes on to explain the applicable benefits, fees and general terms.

The guide then explains the options available to those who prefer to invest in property rather than build from scratch. Again, comparisons are made between the usual buy to let type mortgages and the new, flexible options.

Whether building a home from scratch or buying a property to let, there’s plenty of choice when home builders and investors are ready to compare flexible loans.

About The Offset Mortgage Centre

The Offset Mortgage Centre is a non profit website designed to provide a comprehensive resource for visitors interested in gaining more flexibility, saving money or reducing the term of their home finance.

The goal of the website is to educate the mortgage layman in the concept, features, benefits and negative aspects of a Flexible or Offset Mortgage.

For more information on how to compare flexible loans, please visit http://www.offsetmortgagecentre.co.uk/compare-flexible-loans.html.

###

©Copyright 1997-, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Related About Mortgage Loans Press Releases

by pennstatelive

Question by Miss Williams: Do yahoo posters know more about economics than the Federal Reserve Chairman?
Federal reseve chairman, ben bernanke,appointed by bush, said the community reinvestment act had nothing to do with the crisis.
FDIC chairwoman, shelia blair, appointed by bush, said the same things.

However, dozens of yahoo posters keep saying it caused the crisis.

Who is right?

Bush appointee Federal Reserve Chairman Ben Bernanke said “Experience runs counter to the charge that CRA was at the root of, or otherwise contributed in any substantive way to, the current mortgage difficulties.” In a November 25, 2008, letter, Federal Reserve chairman Ben Bernanke stated: “Our own experience with CRA over more than 30 years and recent analysis of available data, including data on subprime loan performance, runs counter to the charge that CRA was at the root of, or otherwise contributed in any substantive way to, the current mortgage difficulties.”

Remarks by FDIC Chairman Sheila Bair to The New America Foundation conference: “Did Low-income Homeownership Go Too Far?”: Washington, DC
December 17, 2008
Good morning and thank you for inviting me to speak.
What I’d like to do today is bury two myths that have been circulating lately. The first myth is that the Community Reinvestment Act caused the financial crisis. And the second myth is that working with troubled homeowners to reduce foreclosures lacks urgency and may be akin to a fool’s errand.
CRA as a scapegoat
I think we can agree that a complex interplay of risky behaviors by lenders, borrowers, and investors led to the current financial storm. To be sure, there’s plenty of blame to go around. However, I want to give you my verdict on CRA: NOT guilty.
Point of fact: Only about one-in-four higher-priced first mortgage loans were made by CRA-covered banks during the hey-day years of subprime mortgage lending (2004-2006). The rest were made by private independent mortgage companies and large bank affiliates not covered by CRA rules.
You’ve heard the line of attack: The government told banks they had to make loans to people who were bad credit risks, and who could not afford to repay, just to prove that they were making loans to low- and moderate-income people.
Let me ask you: where in the CRA does it say: make loans to people who can’t afford to repay? No-where! And the fact is, the lending practices that are causing problems today were driven by a desire for market share and revenue growth … pure and simple.
CRA isn’t perfect. But it has stayed around more than 30 years because it works. It encourages FDIC-insured banks to lend in low and moderate income (or LMI) areas, and I quote, -”consistent with the safe and sound operation of such institutions”.
Another question: Is lending to borrowers under terms they can not afford to repay “consistent with the safe and sound operations”? No, of course not.
sorry, dozens of top economists and many top republicans all agree…the CRA had nothing to do with the crisis. Sorry you guys won’t accept the fact that bush loaned 440 billion and created the bubble.

Best answer:

Answer by Gary
We sure do

Add your own answer in the comments!

“The Truth About How to Kiss Women” e-book
In this first of a kissing e-book, you will discover the secrets of kissing like a champ and confidently turn each kiss into a “Spine-Tingling, Breathtaking, She’s Begging-for-More” kiss! Real women reveal the truth about kissing dos and don’ts.
“The Truth About How to Kiss Women” e-book

Teaching Kids About Money
Teaching kids about money has never been so much fun! Using entertaining stories, puzzles and activities, this great package of books and audio helps children learn about money and creates positive values for life.
Teaching Kids About Money

by elycefeliz

Question by Miss Williams: Why did bush’s top banking officals say that the community investment act had nothing to do with the crisis?
Bush appointees Fed Chairman Ben Bernanke and FDIC Chairman Shelia Blair, both republicans, have stated that the CRA had nothing to do with the housing crisis.

In fact, bush’s top 2 banking appointees have stated that the CRA – community reinvestment act – has had absoutely nothing to do with the banking crisis.
Bush appointee Federal Reserve Chairman Ben Bernanke said “Experience runs counter to the charge that CRA was at the root of, or otherwise contributed in any substantive way to, the current mortgage difficulties.” In a November 25, 2008, letter, Federal Reserve chairman Ben Bernanke stated: “Our own experience with CRA over more than 30 years and recent analysis of available data, including data on subprime loan performance, runs counter to the charge that CRA was at the root of, or otherwise contributed in any substantive way to, the current mortgage difficulties.”
Most subprime mortgages not issued by institutions under CRA. In a paper published on the website of the Federal Reserve Bank of San Francisco, Michigan law professor Michael Barr stated that as of 2005: “Only 25 percent of subprime loans were made by banks and thrifts, and the Federal Reserve reports that only six percent of subprime loans were CRA-eligible.” Similarly, a 2008 study by a law firm specializing in CRA compliance estimated that in the 15 most populous metropolitan areas, 84.3 percent of subprime loans in 2006 were made by financial institutions not governed by the CRA.

Bush appointee FDIC chairwoman Shelia Blair said in a speech:

Remarks by FDIC Chairman Sheila Bair to The New America Foundation conference: “Did Low-income Homeownership Go Too Far?”: Washington, DC
December 17, 2008
Good morning and thank you for inviting me to speak.
What I’d like to do today is bury two myths that have been circulating lately. The first myth is that the Community Reinvestment Act caused the financial crisis. And the second myth is that working with troubled homeowners to reduce foreclosures lacks urgency and may be akin to a fool’s errand.
CRA as a scapegoat
I think we can agree that a complex interplay of risky behaviors by lenders, borrowers, and investors led to the current financial storm. To be sure, there’s plenty of blame to go around. However, I want to give you my verdict on CRA: NOT guilty.
Point of fact: Only about one-in-four higher-priced first mortgage loans were made by CRA-covered banks during the hey-day years of subprime mortgage lending (2004-2006). The rest were made by private independent mortgage companies and large bank affiliates not covered by CRA rules.
You’ve heard the line of attack: The government told banks they had to make loans to people who were bad credit risks, and who could not afford to repay, just to prove that they were making loans to low- and moderate-income people.
Let me ask you: where in the CRA does it say: make loans to people who can’t afford to repay? No-where! And the fact is, the lending practices that are causing problems today were driven by a desire for market share and revenue growth … pure and simple.
CRA isn’t perfect. But it has stayed around more than 30 years because it works. It encourages FDIC-insured banks to lend in low and moderate income (or LMI) areas, and I quote, -”consistent with the safe and sound operation of such institutions”.
Another question: Is lending to borrowers under terms they can not afford to repay “consistent with the safe and sound operations”? No, of course not.
CRA always recognized there are limitations on the potential volume of lending in lower-income areas due to safety and soundness considerations. And, that a bank’s capacity and opportunity for safe and sound lending in the LMI community may be limited.
That is why the CRA never set out lending “target” or “goal” amounts. That is why CRA supporters, many of you here today, have labored for three decades to figure out how to do it safely. It makes no sense to give a loan to someone under terms you know they can’t pay back. That’s a set up for failure.
Despite our current problems, the homeowner is still one of the best credit risks in the world. Today, the delinquency rate on all home mortgages is only 3.6 percent. For subprime loans, there is a stark difference in the type of loan. The rate of seriously delinquent subprime fixed rate loans is a little more than one-third the rate for subprime adjustable rate mortgages.
Any family willing to work, save money, pay the mortgage on their house is a sound basis of credit and a sound basis for America.
So let the record show: CRA is not guilty of causing the financial crisis.

Best answer:

Answer by O’Ryan
There was no community investment act.

Inserting money into the economy to intentionally create a bubble isn’t an investment…it is in liberalspeak, but in reality it isn’t.

The Community Reinvestment Act did thrash our economy…

Know better? Leave your own answer in the comments!

Mortgage secret codes revealed
A step by step guide on how to take control of the mortgage process and also How to beat the brokers and avoid mortgage ripoffs
Mortgage secret codes revealed

Groundbreaking Facts About Weight Loss
Start losing weight today with this amazing book. Filled with true facts and no hype, you can be sure that you lose pounds the right way. This is the product to have if you are serious about making a change to your life!
Groundbreaking Facts About Weight Loss

www.raysuarezacademy.com Temas: Fannie Mae 1003 Mortgage Loan Application. Aprenda llenar y entender la aplicacion para un prestamo hipotecario. Learn how to fill the 1003 loan application in Spanish. Assets, Liabilities, Networth. Clases en Espanol y Ingles. Free Training video online. Mortgage Loan Originator (MLO) Test Prep for National Component. Courses in English & Spanish. Ray Suarez Real Estate & Mortgage Broker School. Repaso intensivo en Espanol.



xml:lang=”en” lang=”en” xmlns=”http://www.w3.org/1999/xhtml”>

OnlineLoanOfficers.com Launches Training Section for Distressed Home Borrowers

Los Angeles, CA (PRWEB) March 16, 2009

OnlineLoanOfficers.com is an ideal website for those who want to be proactive in learning about the economy. The website has recently launched new resources for learning more about different types of loans available.

As per the estimates of the quantcast, a popular Internet rating website, onlineloanofficers.com has grown steadily since its inception. The website attracts a mixed audience of well-educated, middle-aged, and fairly wealthy individuals.

Due to a lot of misconceptions within the industry regarding loans, refinances, and foreclosures, the web site has recently put together a thorough directories that allow average visitors to the website to learn more about the loan process.

The website features an extensive directory that offers contact details of loan officers, commercial real estate loans & home mortgage loan services, financial services dealing with mortgages and personal finance planning, commercial real estate lawyers, and real estate attorneys in over 500 cities of the United States. The online directory is very easy to use. The viewers can choose a specific category from the home page and then refine their search by selecting their state and city in the locator.

OnlineLoanOfficers.com also provides a collection of informative articles on different types of loans available. Be it an adjustable rate mortgage (ARM) loan, a graduated payment mortgage loan, a growing equity mortgage loan, balloon mortgage loan, or a zero-interest mortgage loan – the website has it all. Besides, it also provides a lot of information on the pros and cons of interest-only loans.

Several other articles featured on the website help to understand the basics of mortgage loans and mortgage loan payment calculators. Some articles highlight the importance of credit rating while others suggest brilliant ways in which one can easily fix bad credits and shop for rates. In addition, the web site also offers useful loan tips for online mortgage loans and other loans in general.

Another attractive feature of the website is its glossary of useful terminology related to loan and finance. Detailed articles on these terms are also made available to help you understand loans better. These articles are very useful for all those willing to clear the basic fundamentals regarding commercial mortgages and financial services.

http://www.onlineloanofficers.com

###

©Copyright 1997-, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Question by LIttle Johnny: Why do republicans avoid questions that prove them wrong?
I have seen dozens of posts about how “dems forced banks to make bad loans” but when I provide proof, they won’t respond.

In fact, bush’s own top banking appointees have said the “cra had nothing to do with the crisis”

Bush appointee Federal Reserve Chairman Ben Bernanke said “Experience runs counter to the charge that CRA was at the root of, or otherwise contributed in any substantive way to, the current mortgage difficulties.” In a November 25, 2008, letter, Federal Reserve chairman Ben Bernanke stated: “Our own experience with CRA over more than 30 years and recent analysis of available data, including data on subprime loan performance, runs counter to the charge that CRA was at the root of, or otherwise contributed in any substantive way to, the current mortgage difficulties.”

Most subprime mortgages not issued by institutions under CRA. In a paper published on the website of the Federal Reserve Bank of San Francisco, Michigan law professor Michael Barr stated that as of 2005: “Only 25 percent of subprime loans were made by banks and thrifts, and the Federal Reserve reports that only six percent of subprime loans were CRA-eligible.” Similarly, a 2008 study by a law firm specializing in CRA compliance estimated that in the 15 most populous metropolitan areas, 84.3 percent of subprime loans in 2006 were made by financial institutions not governed by the CRA.

Bush appointee FDIC chairwoman Shelia Blair said in the following speech:

Remarks by FDIC Chairman Sheila Bair to The New America Foundation conference: “Did Low-income Homeownership Go Too Far?”: Washington, DC
December 17, 2008
Good morning and thank you for inviting me to speak.
What I’d like to do today is bury two myths that have been circulating lately. The first myth is that the Community Reinvestment Act caused the financial crisis. And the second myth is that working with troubled homeowners to reduce foreclosures lacks urgency and may be akin to a fool’s errand.

CRA as a scapegoat
I think we can agree that a complex interplay of risky behaviors by lenders, borrowers, and investors led to the current financial storm. To be sure, there’s plenty of blame to go around. However, I want to give you my verdict on CRA: NOT guilty.

Point of fact: Only about one-in-four higher-priced first mortgage loans were made by CRA-covered banks during the hey-day years of subprime mortgage lending (2004-2006). The rest were made by private independent mortgage companies and large bank affiliates not covered by CRA rules.

You’ve heard the line of attack: The government told banks they had to make loans to people who were bad credit risks, and who could not afford to repay, just to prove that they were making loans to low- and moderate-income people.

Let me ask you: where in the CRA does it say: make loans to people who can’t afford to repay? No-where! And the fact is, the lending practices that are causing problems today were driven by a desire for market share and revenue growth … pure and simple.

CRA isn’t perfect. But it has stayed around more than 30 years because it works. It encourages FDIC-insured banks to lend in low and moderate income (or LMI) areas, and I quote, -”consistent with the safe and sound operation of such institutions”.

Another question: Is lending to borrowers under terms they can not afford to repay “consistent with the safe and sound operations”? No, of course not.

CRA always recognized there are limitations on the potential volume of lending in lower-income areas due to safety and soundness considerations. And, that a bank’s capacity and opportunity for safe and sound lending in the LMI community may be limited.

That is why the CRA never set out lending “target” or “goal” amounts. That is why CRA supporters, many of you here today, have labored for three decades to figure out how to do it safely. It makes no sense to give a loan to someone under terms you know they can’t pay back. That’s a set up for failure.

Despite our current problems, the homeowner is still one of the best credit risks in the world. Today, the delinquency rate on all home mortgages is only 3.6 percent. For subprime loans, there is a stark difference in the type of loan. The rate of seriously delinquent subprime fixed rate loans is a little more than one-third the rate for subprime adjustable rate mortgages.

Any family willing to work, save money, pay the mortgage on their house is a sound basis of credit and a sound basis for America.

So let the record show: CRA is not guilty of causing the financial crisis.

Best answer:

Answer by Dice
Your full of sheeeeeeeeeeeet

What do you think? Answer below!

Question by Pat: Could I even dream of a home loan? Terrible Credit but 35% down.?
I got wiped out in the crash of 2008.

I want a cheap rural house that is 35k (yes $ 35,000) with 10 acres.

I have 35% down (Over $ 12,500 cash)

I make 44K a year and have had the same job for 14 years.
I have two good secure loans (car & RV)

But I had some other credit cards go terrible (bought stocks with them “Stupid”) and I can’t pay them off. They have been bad since Early 2008.

I currently have NO mortgage. Again I make 44k a year, the house is 35k, I have over 35% down.

Is it possible that I get a mortgage loan?

Assume my fico credit score REALLY sucks.

Would I have a better chance with the credit union I had the two good loans through.

Again this is a secure loan, (bank can repo the house & keep my down payment) if I default. Don’t know if that makes a difference.

Anybody know? Thanks.

(Please no lectures about the credit cards – the banks F-ed up too in 2008 & needed the US govt (you and me) to keep them in business. Unfortunately, I couldn’t turn to Uncle Sam to bail me out.)
StevenW: Obviously you know nothing about fractional reserve banking. After the banks took the bail out money and inflated it by lending it at 90% and holding 10%, I’m sure jumping for joy that they paid it back. Circular lending & they inflated the money supply, then paid it back with their own lendings.

Biggest sham. Banks really have no honor. Unfortunately, they rule our economy though so I have to borrow money from one for two years (perhaps even one) to pay this off.

Best answer:

Answer by melito
Honestly speaking, your credit score may not be as bad as you think. You could have a 600+ score and not even know it. My suggestion is to try your credit union. They are usually the most lenient and understanding and if you already have a relationship with them this might make it easier for you. If they say no they will normally let you know what you can do. Also if the credit cards are equal to or less than your down payment money than pay those off first. Good Luck and keep me posted if you can.

Give your answer to this question below!

A second wave of home defaults will strike Banks in 2010-2012. Over .5 trillion dollars of bad home loans will threaten the banking system and risk economic collapse. Condensed from a 60 minutes expose. Video response shows Option ARM reset chart 2010-2012

Why a homeowner or other mortgagor in NY and other judicial-foreclosure states should stop paying the mortgage if financial difficulty is expected in 6 months, invite a foreclosure action, defend the action timely and vigorously (at low cost), and use the extended time to obtain a reasonable modification agreement or find a buyer to get any of your equity out of the property (by not having to sell at a distress sale).
Video Rating: 4 / 5

Residential Mortgage Lending: Principles and Practices

Designed for both employees of mortgage lenders and individuals studying real estate finance, Residential Mortgage Lending: Principles and Practices provides an overview of mortgage banking and outlines strategies that mortgage bankers can utilize to compete successfully in today’s competitive business environment. While clearly explaining the fundamentals in an easy-to-understand manner, this edition has a new emphasis on the practical applications of residential mortgage lending making it

List Price: $ 107.95

Price: $ 69.12

Find More About Mortgage Loans Products



xml:lang=”en” lang=”en” xmlns=”http://www.w3.org/1999/xhtml”>

Refinance.com Cites Lowest Mortgage Rates Since March 2004 After Latest Fed Action

New York, NY (PRWEB) January 31, 2008 -

Refinance.com, the nation’s premier source for home mortgage refinancing, is reporting fixed mortgage rates at their lowest levels since March 2004. As a result of today’s actions by the Federal Reserve to lower interest rates and following last week’s emergency rate cut, Refinance.com sees a great opportunity for homeowners to take advantage of these low mortgage rates.

“The recent Federal Reserve rate cuts are contributing to the lowest 30 year fixed mortgage rates since March of 2004, and Refinance.com is reporting 30 year fixed rates as low as 5.5 percent with zero points,” said Nicholas Bratsafolis, chairman and CEO of Refinance.com. “The mortgage market is showing ever increasing signs of returning to liquidity for many homeowners who need to refinance from adjustable to fixed rate mortgages. We urge homeowners to immediately contact lenders with expertise in mortgage refinancing and explore various alternatives such as FHA fixed rate insured loans,” he added.

Homeowners can take immediate advantage of the historic low mortgage rate, reduce their monthly payments, and enter into the payment certainty of a fixed rate mortgage, possibly with an FHA loan. Refinance.com offers dozens of programs tailored to each borrower’s unique situation with its broad expertise and nearly twenty years in home mortgage refinancing. Homeowners should view this time as an ideal opportunity to refinance their home mortgage at a historically low fixed rate.

Only FHA-approved lenders can offer FHA backed loans which provides mortgage insurance on those loans. Refinance.com has created an online resource for borrowers seeking to refinance their homes with an FHA insured refinance loan. Information, rates and mortgage calculators are available at http://www.refinance.com or by calling 1-800-734-REFI.

“Last week the Federal Reserve reduced the target overnight lending rate to 3.5 percent. Today’s cut brings that rate down to 3.0 percent and we believe this cut and continued further action will lead to a stabilization of the home mortgage industry, which has been disrupted so dramatically over the past several months,” said Mr. Bratsafolis.

About Refinance.com: Refinance.com is one of the nations leading mortgage companies with nearly twenty years of mortgage refinancing expertise. The company has assisted thousands of clients reach their home refinancing goals through its diverse range of mortgage and refinancing options, and specializes in FHA mortgage lending. Founded in 1989, Refinance.com is based in New York City with offices in Syosset, NY and Boca Raton, FL. More information including mortgage rates and mortgage calculators is available at http://www.refinance.com.

###

©Copyright 1997-, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Question by Ellen: Does the “average” car buyer know this?
Because I sure didn’t and learned the “hard” way…Please let me know if you knew this or not. I am feeling kinda stupid right about now, because I didn’t. (Article quote attached.)

“As a FYI to readers, most auto dealers & auto loan lenders use what’s called an “auto industry option” of the normal credit score. For Equifax, their latest model is called the Beacon 5.0 Auto. The auto credit scores pay particular attention to past credit performance on auto loans, supposedly with a higher weight given to installment loans. That is why, for example, if you have a poor revolving (credit card) history, but you have never been late on an installment loan (auto loan, mortgage, student loan), your Beacon 5.0 Auto score may be considerably higher than a normal Beacon. As far as I know, the auto scores are not available to the public. That may be why, when car/truck shopping, your score is different than what you may have pulled up on the internet. Hope that helps.”

Best answer:

Answer by skcs11
thanks

Know better? Leave your own answer in the comments!

school-loans-consolidation.net If you have a knowledge about what is student loan consolidation, what different kinds of loan are available and when is good to consolidate your loan you would be in much better position to understand and appreciate the importance of student loan consolidation….
Video Rating: 5 / 5

www.thereibrain.com Teaches you how to read a mortgage rate sheet step by step. This is Part 1 of 2.

homemortgage-loans.org Home Mortgage Refinance Loans Online Estimate your new mortgage payment No SSN Required – created at
Video Rating: 0 / 5

Buying a home with bad credit? Knowledge is your key to being successful. The Bad Credit Guide to Homeownership can Buying a home with bad credit Some people prefer the do it yourself credit repair method we will take away the hassle and help repair your bad credit National Auto Approval…



xml:lang=”en” lang=”en” xmlns=”http://www.w3.org/1999/xhtml”>

BD Nationwide Mortgage Introduces the 110% Mortgage Refinance Loan

Encinitas, CA (PRWEB) June 15, 2006

BD Nationwide Mortgage Company, announced the arrival of the 110% Mortgage Program. This is a unique loan product, that allows borrowers the ability to exceed the value of their home when refinancing their first mortgage. BD Nationwide has partnered with Irwin Home Equity to offer this “No Equity” refinance loan.

The 110% program offers homeowners the ability to pay off debts, combine mortgage loans, or simply get cash back. This loan lending benefits by adding a competitive 125% home equity products. BD Nationwide Product Mgr., Brendon Daly said ,” this is a great opportunity to be able to save our clients more money, because now we can offer a 110% 1st mortgage or a 125% second mortgage.” Daly continued “The 110% is another option for homeowners to have one loan that consolidates all of their high rate debt with their mortgage.” This is the first new loan product BD Nationwide has introduced in 2006 that doesn’t involve a 2nd mortgage. Daly said he hoped that “this was a signal of more expanding product lines in an expanding marketplace.”

Noteworthy Program Highlights

Debt & Loan Consolidation to 110% LTV
Loan amounts to $ 750,000
Cash-Out Refinancing to $ 100,000
30-Year Fixed Rate or 2/1 3/1 LIBOR

To learn more and get additional loan information, please visit: Second Mortgage & Home Equity Loans

About BD Nationwide Mortgage Company:

BD Nationwide Mortgage is a mortgage broker with corporate headquarters in Encinitas, California. They specialize in refinance, home equity loans and credit lines for homeowners seeking debt consolidation or cash out. The company focus remains solidified with second mortgages for people with all types of credit. Always striving to offer “out of the box” loans, BD Nationwide Mortgage is determined to help expand financing solutions so more Americans can maximize the financial rewards of being a homeowner. Consumers searching for updated interest rates regionally should visit: Home Equity Loan Rates.

# # #

©Copyright 1997-, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.