The Role of the Mortgage Broker in Today’s Mortgage Market. “GFE” Good for Everything or a Good Faith Estimate.
With the launch of the 2010 Good Faith Estimate we read articles about the fall of the mortgage broker and that brokers will be unfairly disadvantaged when reporting rates and terms. While broker market share is down to 13% according to National Mortgage News, I am here to call all that poppycock. The simple truth [...]
Mortgage News Continues to Show Mortgage Rates Going Down
Daily mortgage rates news gives you, the reader, a chance to stay up to day on all mortgage and real estate news. Today we analyze the trend of mortgage rates going down. Over the last sixth months, most mortgage news articles have illustrated that mortgage rates have been steadily falling. There is no doubt that [...]
Mortgage Rate Trends – April 14th – Rates Back to 5%?
As we all know, mortgage rates have been under 5% for a few weeks now and it is almost becoming a normal thing to hear that rates are at historic lows. Obviously, mortgage rates cannot hit historic lows every single week because this is not how financial markets work. We are definitely going to see [...]
Wells Fargo “25% of Mortgages Were Home Purchases Not Refinancings”
Last week Wells Fargo showed healthy gains in the stock market as they posted a $3 billion first quarter profit. Part of the reason that Wells Fargo showed such a large profit was the fact that they got Wachovia at wholesale prices. While Wachovia was very poorly run and had some subpime exposure, there was [...]