Question by Carmen W: Why aren’t mortgage brokers and lenders hiring loan processors from home?
What are some “cons” as to why mortgage brokers and lenders aren’t hiring their loan processors from home? Especially in the new age of “paperless” offices?

Best answer:

Answer by Rob B, of MD
Because of the privacy issues with borrowers credit information, for one – the Lender has control over what is in its own offices. Also, as for the brokers, they’re on the road, often, anyway, so when they do need to return to a desk, it should be at the office. I hope this helps.

Question by MH: Is it ok to use loans to finance going to a university for undergraduate study?
such as low interest student loans or does the money have to be the contribution of family money, grants, and scholarships? are loans impossible to repay or something?

Best answer:

Answer by K_BIZ
Loans should always be the last option. In this day and age, it is more worth it to jion a union straight out of HS than to go to college on a loan because you will have to live like a bum for 10 years or more after graduation while you pay it off.

Question by L-Boogie: What are the current interested rates for a 30 year fixed purchase loan?
just wondering, because we’ve been looking at buying a house and we were pre approved 6 months ago @ 4.75% (not a jumbo loan, less than 250k) we would like to put 20k down, probably not 20%.

What are the rates for a traditional 30 year fixed, compared to the FHA loan interest rate? Thanks!

Best answer:

Answer by Lisa L
Depends on your credit score & your LTV. On a pure vanilla loan, you can probably get 5.75% with no points & no origination. My FHA & Conventional rate are pretty close to the same at this time.

Question by Copernicus: What is the best rate you have found for a mortgage loan in Dallas?
My wife and I are looking to buy a home in the near future. What is the best rate that we should expect? We have great credit and even better street cred.

Best answer:

Answer by mazziatplay
You know, rate is only one piece of the puzzle and besides, by the time you are ready to buy who knows where rates will be.

You would be better served by choosing the best lender to work with, one who will act with your best interests at heart and not just with their commission in mind.

Milford, Connecticut (PRWEB) September 13, 2011

Total Mortgage Services, LLC, a leading mortgage lender, announced today that it has received approval with Fannie Mae to be a seller/servicer for one-to-four family first lien mortgages and can now retain mortgage servicing rights, expand product offerings as well as sell and pool loans into mortgage backed securities. Total Mortgage has been assigned Fannie Mae Seller Service Number ? 27127-000-3.

Question by Rachelle G: How are you saving money at the supermarket?

Best answer:

Answer by kapn
Same as always…….coupons…………

Know better? Leave your own answer in the comments!

Question by iLoveLifeツ: How did subprime loans lead to the current recession?
I’m doing a paper for my business class and have to explain how the subprime loans led to the current economic recession. Thanks!

Best answer:

Answer by aka_brian_1040
Sub-prime loans were created because Congress wanted more Americans to become homeowners. To do this they forced the large lenders to relax lending standards and create lending programs so that more people could qualify for mortgages. When the borrowers couldn’t pay the mortgage, the foreclosure numbers started to rise. Then Congress said, “you nasty greedy lenders, you took advantage of these people”. Congress created the sub-prime housing bubble, and when it burst, we all felt the shock wave.

Livonia, MI (PRWEB) October 14, 2005

Quicken Loans, the nation’s largest online lender, is immediately raising its conforming loan limit from $ 359,650 to $ 400,000 for homes in the lower 48 states, enabling homebuyers to get more home for their money without paying a premium for “jumbo” rate mortgages.

The $ 40,350 increase in the single-family loan amount will allow more homebuyers to qualify for lower-rate conventional mortgages. Because they are guaranteed by Fannie Mae and Freddie Mac, conforming loans carry interest rates that are as much as

Dallas, TX (PRWEB) September 17, 2011

Kevin Miller of TexasLending.com, a Texas home loan and mortgage company specializing in Texas refinance loans and Texas reverse mortgages, will discuss this week’s rise in mortgage rates on his weekend radio show. In Dallas/Fort Worth the show can be heard Saturday on AM 570 KLIF from 1:00 p.m. to 2:00 p.m.

?With this week?s rise in mortgage rates, applying now may save people the distress of missing the lowest rates in record,? commented Kevin Miller.

Question by BoostWerX: Should I refinance my Home Mortgage Loan now?
I don’t know if I should refinance my home mortgage loan now since the interest rate is fairly low (4.63%). My interest rate now is 6.31% Do you think it will get any lower as of now? The National Average Mortgage Rates seems to be fluctuating a bit but slowly dropping. Anyways just want to refinance before the rates go up.

Website used if it’s any good…..

http://www.mortgagenewsdaily.com/mortgage_rates/

Best answer:

Answer by Rfer
Yes u should

Add your own answer in the comments!