Why Has My Mortgage Loan Been Sold?
Friday, March 06
It's just human nature to simply want to understand things, especially important things (such as your home mortgage), so in this post we're going to explain what generally happens after you buy or refinance a home and why your loan may be "sold". First of all, the vast majority of mortgage lender...
How to Read a Good Faith Estimate
Sunday, January 11
The Good Faith Estimate (GFE) is the most important document to analyze when shopping for your home loan. In this post, we will decipher the GFE so that you can make sure you understand your mortgage.The first section of the GFE gives the name and contact information for your mortgage loan origin...
Current Minimum Credit Score Requirements to Qualify for a Mortgage
Sunday, May 04
Mortgage guidelines change rapidly, but there is generally a bit of consistency among lenders regarding minimum credit score requirements. In this post, we'll provide you with a brief summary of the bare minimum credit scores that you'll probably need (for a primary residence) in order to qual...
Mortgage lenders using "loophole" to offer lower rates based on source
Sunday, March 23
A "loophole" in Regulation Z which "prohibits a creditor or any other person from paying, directly or indirectly, compensation to a mortgage broker or any other loan originator that is based on a mortgage transaction's terms or conditions, except the amount of credit extended", may allow you t...
10 Mortgage Loan Officer Skills That Prepare Them For Variety Of Jobs
Friday, March 07
I'm not sure how much literature there is on this subject, and I'm not in human resources, but I've always had a sense that the skills required to be a successful mortgage loan originator could transfer to many different positions across a variety of industries (of course, as a mortgage loan or...
The Mortgage Loan Officer / Attorney Analogy
Friday, February 28
View your mortgage loan originator as if he or she was your attorney and you're preparing to go to trial. Sometimes you get what you pay for, and the services of a mortgage loan officer are no different. Assume that you're suing somebody and you have a "slam dunk" lawsuit that basicall...