Going through the process of purchasing a home and obtaining a mortgage can introduce one to a whole new series of acronyms and terms special to the real estate industry. Without some background knowledge about these terms, it’s difficult to determine exactly who you’re working with and what you’re considering. Some of the terms that are frequently confused are mortgage…
March 2013
FHA loans provide an important service for many low-income or higher-risk buyers to purchase a home. Many people get confused by thinking that the FHA provides the loans themselves, but this is not the case. Borrowers still must obtain the loan from a lender, but the FHA provides the mortgage insurance (or the protection against default) on that loan. Having…
Lenders and brokers are already incredibly busy handling increased volumes for processing, underwriting and closing. One of the options to relieve pressure and accommodate this increased workload is to partner with an outsourcing company. Lenders and brokers are able to insert these options into their business model to reduce wait times and continue to provide quality service. Companies such as…