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American Independent Mortgage

The American Dream? - FULL LENGTH

You are being robbed before your very eyes! Do NOT allow this to happen anymore! 1. The government borrows money from the privately owned Federal ...

American Banker Names Mortgage Capital Trading to Inaugural Best Places to Work in Fintech List

SAN DIEGO, Calif., May 08, 2018 (SEND2PRESS NEWSWIRE) — Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing software firm, announced that American Banker magazine named the company to its new Best Places to Work in Financial Technology list. MCT ranked number four out of only 20 companies that were honored.

Fintech companies from across the country competed in an extensive two-part survey process that judges each organization’s workplace policies, practices, philosophy, systems and demographics along with an in-depth employee survey that measures employee satisfaction. The combined scores of the complete process determined the nation’s top fintech companies and the final rankings.

“We are thrilled to be recognized by American Banker as one of the top 20 fintech companies to work for in the industry,” stated Cutis Richins, president at MCT. “MCT has grown significantly over the past few years, expanding our capital markets services with several new software solutions that have been instrumental in taking us to the next level. More than anything, however, it is our people that have made us successful. Our entire company is very proud to receive this inaugural fintech award.

Freddie Mac Is Quietly Helping Out New Mortgage Kings

Freddie Mac has quietly started extending credit to nonbanks that issue mortgages, a move it says will help the companies maintain access to a crucial stockpile of cash if their home loans go sour.

But critics say the financing could create an unfair market advantage that allows preferred lenders to muscle out competitors.

The new Freddie credit lines, which haven’t been publicly announced, are meant to support nonbanks’ mortgage-servicing operations. That’s the lucrative business of managing a home loan after it’s been issued.

Although banks dominated mortgage lending immediately after the 2008 financial crisis, now they are facing stiff competition from companies such as Quicken Loans, Freedom Mortgage, LoanDepot and Caliber Home Loans. Nonbanks issued nearly half of mortgages sold to Fannie Mae and Freddie in 2016, compared with 8 percent a decade ago.

Cash Crunch

The industry typically functions like this: A lender makes a mortgage and then Fannie or Freddie packages it with other loans into securities that are sold to third-party investors. The lender continues to make a steady stream of income for collecting monthly payments from borrowers and sending the payments on to the third-party investors.

How can a poor young American be independent these days?

I mean we got a bad economy and prices are going high. I am a green card holder, has a useless AA degree and works in a store for years. What will I do if I lose my job? The mortgage alone, is not half paid.

What is your AA degree in?? If there are no jobs where you are, why aren't you going to the jobs??

I have an AA in information technology. I couldn't find a job where I was - Pacific Northwest. I went to where the jobs are - East Coast.