Tagged : loans

Found 2 blog entries tagged as "loans".

johnsabia.com blog photo of loan document

You've just closed on your new home and have finished unpacking and begin to settle in. You pick up your mail and you find a notice letting you know that your mortgage has been sold on the secondary market and is being serviced by a new company. You are stunned and question If this allowed? Then you start to worry if the terms of your mortgage have somehow changed? You ask yourself Why would the lender sell my mortgage?

One of the many documents you signed up front during the mortgage application was a a document called Mortgage Servicing Disclosure. This document reports what percentage of the lender’s loans are sold off. Quite often, the majority of approved and funded loans approved by a particular mortgage company will immediately be sold to

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Mortgage Rates Fall After Consecutive Increases

Average mortgage rates were down this past week after increasing over the previous two weeks, according to the Mortgage Bankers Association's Weekly Application's Survey. Mortgage rates for all loan categories fell, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans.

As a result of the drop in rates, there was a modest boost in both purchase and refinance activity. In fact, activity for refinancing was up 2 percent from the previous week and demand for purchase was up 1 percent.

On an unadjusted basis, demand for loans to buy homes for sale and condos for sale is now 18 percent higher than it

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