LendingTree recently released an updated version of its Mortgage Calculator mobile application for both Apple and Android operating systems.
The CFPB found that nearly half of borrowers did not compare mortgages. LendingTree’s LoanExplorer and Mortgage Negotiator make comparing mortgages easy.
While no one, regardless of income, really likes getting a mortgage, it does seem that upper-income borrowers are better at it. A January 2014 survey by mortgage colossus Fannie Mae found that higher-earning borrowers chose lenders with the most competitive rates. They were more likely to shop online, obtain multiple... Read more
Last year, researchers at Fannie Mae found that 41 percent of consumers got their home loans from the first mortgage company they contacted – they did not shop at all and did not compare quotes from any other lenders. Analysts at America’s largest buyer and seller of mortgages expressed... Read more
A few years ago, the Miami Herald broke the news that over 5,000 of Florida’s mortgage loan officers were felons who’d been convicted of various frauds. Amazingly, it was legal for them to work in a field that provided so many opportunities to rip off their clients. State mortgage licensing requirements... Read more
Mortgage Professor Jack Guttentag addressed a serious topic on the Huffington Post today — specifically, mortgage rate lock scams. He accurately says that when you get a Good Faith Estimate from your lender, there is no obligation to honor the rate unless you lock in before the rate’s expiration.... Read more
Q: My neighbor just got a great deal through her mortgage company on an FHA streamline loan.I want to apply for the streamline refinance program and am wondering if my existing mortgage must be an FHA loan in order to qualify. A: The Federal Housing Administration (FHA) established the... Read more
With the rise in identity theft cases and the push for rapid rescoring for the lowest loan rate available from a lender, it’s important that people keep an eye out on their credit. While you can obtain all three credit reports free once a year, it’s important that you... Read more