This Article Is About Third-Party Mortgage Processing Used By Mortgage Lenders Using Third-Party Mortgage Processing can be a great benefit for mortgage companies during times of high volume and capacity. Most lenders have in-house mortgage processing. However, there are times when lenders are busier than normal. The mortgage process is a true process. You cannot...
This ARTICLE Is About Buying A Home In Redding California And Its Benefits Buying A Home In Redding, California offers many benefits for those who like a dense suburban atmosphere. Unlike other congested cities in California, Redding is a small town with a population of 91,327. The town is in Shasta, County. Most residents of...
There are nine community property states in the United States. Community property states, married couples share 50% ownership on both assets and debts. This holds true even though ownership is only in one person’s name. Therefore, if a husband owns a house but the wife is not on the mortgage or the title of the...
Illinoisans Fleeing To Other Low Taxed States in record numbers due to the state being so out of control with skyrocketing tax increases. Illinois was one of the first states to shut down due to the coronavirus outbreak. The state was also the last state to reopen with heavy restrictions. Then, the oversized obese Governor...
Are you looking for a loan that offers more flexibility than an FHA loan? If so, a conventional loan may be the right choice for you. Here are some things to consider if you’re thinking about applying for a conventional loan. Conventional loans are best for people with good credit who can afford a down...
So you’ve been through the mortgage process and you’re finally at the finish line. The lender has told you that you’re clear to close, but what does that mean? In this blog post, we’ll explain exactly what a clear to-close is in the mortgage world, and what it means for your home loan. A clear...
How The Mortgage Process Works From Qualification To Closing is different among the various mortgage companies. However, the step of the overall home loan process is an actual process that involves multiple people and departments. The goal of the lender, whether they are mortgage bankers or mortgage brokers, is to get a mortgage loan application...
Understanding The Mortgage Process For First-Time Homebuyers is important. Most homebuyers will need a mortgage when buying a home. For most people, a mortgage can be intimidating and not a subject they want to learn. Understanding the mortgage process is not difficult. We will explain the step-by-step process on how the overall homebuying and mortgage...
This Article Is About Mortgage Guidelines On Timeshare Foreclosure On Home Loans There are people who have been approached and invited to a timeshare presentation vacation at no cost. The timeshare company often offers free lodging including free meals and entertainment. There is no obligation for you to buy anything. The whole trip is free...
Mortgage Guidelines On Charged-Off Accounts do not require borrowers to pay outstanding non-mortgage charged-off accounts to be paid off on owner-occupant primary home government and conventional loans. This holds true no matter how large the outstanding charge-off amount is. Fannie Mae and Freddie Mac only exempt charged-off accounts on owner-occupant conventional loans ONLY. This rule...
Many borrowers heard of the term VA compensating factors for VA when they started looking for a lender to get qualified and pre-approved for a VA mortgage loan. VA Compensating Factors are positive strong factors mortgage borrowers have. Compensating Factor comes into play on manual underwriting borrowers who have a higher debt to income ratio....
A judgment is the worst credit tradeline any consumer can have on their credit report. A judgment means a creditor took the necessary steps legally and took the debtor to court. The court found the case in favor of the plaintiff and issued a judgment on the defendant. It is not up to the court...
In this blog, we will cover and discuss HUD student loan guidelines on debt-to-income ratio calculations by mortgage underwriters on FHA loans. Large outstanding student loans can become an issue when qualifying for an FHA loan. HUD student loan guidelines are different than other loan programs. Every mortgage program has its own student loan guidelines...
Many borrowers are surprised that you can qualify for an FHA loan with credit scores down to a 500 FICO. HUD, the parent of FHA, has the most lenient credit guidelines on home loans than any other mortgage program in the nation. Borrowers with prior bad credit, outstanding collections, charged-off accounts, lower credit scores, late...
Can I Get Approved For An NMLS Loan Originator License With Bad Credit is one of the most common questions we get at Capital Lending Network, Inc. Many people who want to pursue a career as a loan officer need to prepare to get their NMLS Loan Officer license? A mortgage loan originator (MLO) is...
FHA and Conventional loans are the two most popular home mortgage programs in the nation that allow non-occupant co-borrowers to be added to the main borrower on a home purchase and/or refinance mortgage. There are three government-backed mortgages: FHA loans VA loans USDA loans Government-backed mortgages are for owner-occupant homes only. You cannot finance second...