Vetting the Lender
By VICKIE ELMER for the NYTimes
Published: September 22, 2011
Industry experts suggest that borrowers focus more on the individual who would be their mortgage broker, loan officer or loan originator.
BEFORE buying a house, borrowers will undoubtedly do a thorough check of the property, examining its structural soundness and the surrounding neighborhood, among other things; they will research the best type of loan, comparing interest rates, terms and fees. But not all borrowers do due diligence on their lenders… read more on Vetting and Choosing a Mortgage Lender
the questions borrowers should be asking them: How long have they been in the field? How well or promptly do they answer questions? Do they want to know the borrower’s financial goals? A look at their work experience and background on their LinkedIn profile may also be helpful.
You should also try to learn how your broker or banker is paid. Are fees collected from you and the bank making the loan?
Article By Kenneth R. Harney
October 2, 2011
Reporting from Washington— Negative equity and underwater homeowners are frequently in the headlines, but what about positive equity in Americans’ homes?
Is there much of it left after the wealth-killing recession and real estate bust? Where is it? Who’s got equity? You might be surprised.
A new study, conducted by mortgage and real estate data firm CoreLogic for this column, found that there are substantial reserves of positive equity across the country. CoreLogic maintains the largest database on home loans — 42 million active accounts, more than 80% of all existing mortgages — with information supplied regularly by lenders and servicers.
read more >>.
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