Tag Archive | loan officer

Fewer Than 1% of New Loans Troubled

For the first time since May of 2007, fewer than 1% of new loans are classified as ‘problem’ mortgages, according to a new report from Lender Processing Services. The mortgage analytics firm paints a picture of fewer troubled loans and even says with new problem loans in March coming in at 0.84%, the rate is […]

Thinking of Moving Up? Don’t Wait.

Convinced that prices have just begun to rise, many homeowners are waiting for their property value to increase more before selling and moving up to a nicer place. That is likely a mistake. “If you’re selling one house just to move up to another, it does you no good to wait for prices to rise […]

What to do After the Rejection of a Mortgage Application

Applying for a mortgage is both exciting and terrifying. It can be one of the most stressful processes and is likely the largest purchase a person makes in his entire life. The mortgage application process requires filling out volumes of paperwork and gathering personal documents. Borrowers will need to provide personal information as well as […]

Getting Approved: How Lenders Judge You

As a consumer, you’re used to being the one with the power to judge the products and services you purchase and the companies that offer them. But when it comes to financing your new home or refinancing the one you already own, you hand that power over to the mortgage lenders and, more specifically, the underwriting department.A […]