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Where to Find a Mortgage Lender
from:If this is your first time buying a house, you probably are trying to figure out where to get a mortgage lender. Often, people don’t go looking for a mortgage lender until they’ve looked at some houses for sale. However, that may be a mistake in this economic climate. You may end up finding the perfect house and realizing only too late that you can’t find a mortgage lender to qualify you for a loan. So, start early to look for a mortgage lender and have all your documentation in order to make the purchase less stressful and more efficient over all.
Mortgage Brokers
You can start the process by either looking in the phone book for local mortgage brokers or contacting the local board of realtors to get a listing. Either way, you will find many different mortgage broker companies listed that can help you find a great mortgage professional. Another more reliable way is to get a reference for a mortgage lender from someone you know. Sit down with the mortgage lender early to find out how much house you qualify for or whether there are any issues that will keep you from getting a mortgage that need to be resolved.
Online Mortgage Lenders
There are broker listing agencies on the Internet, like lendingtree.com, that allow you to put in your information for people in the mortgage industry to bid competitively for your business. This can be a great way to get acquainted with whether you make an attractive client or whether you get few offers and poor terms. Then, you can start to address the issues and try again later, if it doesn’t work out. Getting a mortgage is a lengthy process and don’t be too upset if they ask you for paperwork that may seem redundant. It’s in their interest to verify your loan and ability to pay your projected mortgage and it can save you the problem of buying more than you can afford.
Realty Agents
If you are already in the process of home shopping, you can ask your real estate agent to hook you up with a mortgage broker. This isn’t the preferred method, as you have no idea what type of business relationship a real estate agent might have with a particular mortgage lender. The one they steer you to might not be the best lender, but rather one they are receiving some sort of payback from by steering business to them. Although this isn’t always the case, it’s something to be aware of when trying to find a reputable mortgage broker who can offer a competitive bid.
Mortgage Loan Specific links
Mortgage Loan News
Guilty pleas in mortgage loan scam expected to bring prison time, big fines ... - The Jersey Journal - NJ.com
 The Jersey Journal - NJ.com | Guilty pleas in mortgage loan scam expected to bring prison time, big fines ... The Jersey Journal - NJ.com By Matthew McNab/The Jersey Journal Five people, including two Hudson County residents, have pleaded guilty to their roles in a mortgage loan scam that was led by a Kearny woman, state Attorney General Jeffrey S. Chiesa announced Monday. Madison Lawyer Admits Role in Buying Home in Dead Man's Name |
Record Lows Rates on the Menu for Mortgage Loans - LoanRateUpdate (press release)
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USDA Is a Tough Collector When Mortgages Go Bad - Wall Street Journal
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Mortgage rules prove too strict for some retirees - Washington Post
Mortgage rules prove too strict for some retirees Washington Post But another factor, said Bruce Calabrese, president and co-founder of Equitable Mortgage in Columbus, Ohio, is that some loan officers aren't aware of techniques available for qualifying retirees who are asset-rich but income-deficient. Boomers and refis: a warning |
Supreme Court says families cannot sue mortgage company over loan discount fee - Washington Post
 KOMO News | Supreme Court says families cannot sue mortgage company over loan discount fee Washington Post WASHINGTON — The Supreme Court ruled unanimously Thursday that three families cannot sue a mortgage company for allegedly charging them a loan discount fee without giving them a lower interest rate. The high court's decision tosses out lawsuits filed ... Supreme Court rules families cannot sue over loan discount fee Supreme court limits reach of 1974 real estate law |