Underwriting Once a loan goes through the loan processor, it is handed off to an underwriter. During the mortgage underwriting... read more →
Personal Bankruptcy Bankruptcy allows you to alleviate parts of or all your debt when you can no longer meet obligations... read more →
Basis Points What are basis points? Basis points are a common unit of measurement for interest rates. A basis point... read more →
How does foreclosure work? Foreclosure occurs when a borrower fails to meet loan obligations. Foreclosure rights and procedures are different... read more →
Mortgage Lenders A confusing part throughout the mortgage process is confronting the many different types of lenders that deal with... read more →
The Acceleration Clause An acceleration clause allows a lender to demand that a borrower pay back the entire loan at... read more →
Mortgage Reinstatement Mortgage reinstatement is the restoral of a mortgage to its original condition after a borrower defaults. This means... read more →
Underwater Mortgage Unfortunately, you never know what the housing market is going to do. Whatever the housing market is doing... read more →
What are lender credits? Not everyone has the ability to pay the closing costs. If you are in the position... read more →
Debt-to-income ratio (DTI) is a personal finance measure that compares your debt payment to you overall income. DTI is a... read more →
Credit scores can range from 300 to 850. The Fair Isaac Corporation set up the first credit scoring system based... read more →
What is PMI? Private Mortgage Insurance (PMI) is an insurance policy that protects lenders against loss if borrowers stop paying... read more →
Mortgage overlays are company specific rules that a lender must follow. These are on top of the published guidelines for... read more →
What is a right of rescission? A right of rescission is the legal right which gives a borrower the right... read more →
When applying for a loan, you might get a little overwhelmed with all the different loan types. Two loan types... read more →
Banks vs Brokers With a variety of home-financing options available, purchasing a home is a confusing process. It may be... read more →
Some Tips on How to Choose a Mortgage Lender Finding a mortgage lender can be a difficult process, but one of... read more →