All Posts Tagged With: "bankers"
Should Borrowers Be Represented In Washington?
There are so many lobbyists in Washington that you can hardly find a parking space. It’s great to have competing interests, but one interest with no real or effective representation are those who borrow.
We have lobbyists for real estate brokers, mortgage bankers, mortgage brokers and banks, but name the organization that represents you? Where are [...]
Can You Trust Your Lender?
There is something new in the marketplace, what is being called the Fair Market Collaborative. As someone who has been looking for fairness in the mortgage marketplace since the 1970s you can bet that I welcome any effort to create a level playing field for borrowers.
But will the new collaborative really change marketplace [...]
Interest Rates Rise Suddenly, Say Mortgage Bankers
The Mortgage Bankers association is reporting that mortgage rates moved up sharply during the past week.
___ “The average contract interest rate for 30-year fixed-rate mortgages increased to 5.25 percent from 4.81 percent, with points decreasing to 1.02 from 1.28 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The 44 basis point increase [...]
What’s The Difference Between Mortgage Brokers And Mortgage Bankers?
In general, a mortgage banker has the ability to make loans from his or her own funds. A mortgage broker finds funds for a borrower from investors such as insurance companies, commercial banks, S&Ls, and pension funds.
As a practical matter, in many cases mortgage bankers act as mortgage brokers — and so do commercial banks, [...]
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