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Mortgage Funding - News

Gov. Cuomo and NY Attorney General Eric Schneiderman Settle Mortgage ...
Gov. Cuomo and NY Attorney General Eric Schneiderman Settle Mortgage ... Gov. Cuomo and Attorney General Eric Schneiderman have settled their dispute over mortgage settlement funds--at least for the first year. The two Democratic power brokers agreed to basically split the $163 million in the first year. About half, $81.5

Total Mortgage Gets State Funding, Pledges New Jobs
Total Mortgage Gets State Funding, Pledges New Jobs Total Mortgage has been in Milford for 17 years. CEO John Walsh said that as well as allowing the company to move into a new headquarters, the state funding will help them explore new areas of lending. The company does business in 30 states.

Vanguard Funding LLC Vice President, Robert Jayne, Earns Prestigious ...
Robert Jayne GARDEN CITY, N.Y., Jan. 13, 2014 (SEND2PRESS NEWSWIRE) — Robert Jayne, Vice President of Vanguard Funding LLC, has joined the elite group of mortgage professionals to attain standing as a nationally recognized Certified Reverse 

New American Funding's Rick and Patty Arvielo Named to 100 Most Influential ...
TUSTIN, Calif., Jan. 10, 2014 /PRNewswire/ -- New American Funding, a national mortgage banker, is pleased to announce owners Rick and Patty Arvielo have been named as two of the 100 Most Influential Mortgage Executives of the Year by Mortgage 

Rural Development Mortgage Funding Disappears Funding for Rural Development mortgages through the USDA is gone for the rest of the current fiscal year (through October 31 ...

Reverse Mortgage Funding reduces fees, broadens broker access to proprietary reverse mortgage

RMF’s National Wholesale and Correspondent Sales Leader Mark O’Neil said that reducing the cost associated with taking out a proprietary reverse will help attract borrowers who are closing-cost sensitive.

And, because reverse mortgages are often criticized for being expensive, the move will help align it more closely with traditional lending products.

“Having a product that looks and feels and is priced a lot more like a traditional mortgage is very appealing,” O’Neil said, adding that refinements to the Equity Elite and other such products on the market is “a big step toward proprietary products being looked at as more of a mainstream mortgage and not as much of a niche, like the HECM.”

Earlier this month, Finance of America Reverse also reduced the cost of its proprietary product, eliminating origination fees and adding lender credits to combat cost concerns.

O’Neil said the partnership with ReverseVision will aid in the mission to become more mainstream by making it accessible to more brokers.

U.S. Rep. Anna Eshoo speaks to Silicon Valley Association of Realtors

Close to 60 members of the Silicon Valley Association of Realtors heard U.S. Representative Anna Eshoo speak at a district Realtor meeting in Los Altos this month. Eshoo spoke about current political issues and the priorities of the newly elected Democratic-controlled Congress. Eshoo represents U.S. Congressional District 18, which is located between the cities of San Francisco, San Jose and Santa Cruz.

A strong voice for Silicon Valley homeowners, Eshoo talked about her frustration at how homeowners appear to be bearing the brunt of the new tax reform law. The Tax Cuts and Jobs Act of 2017 increased the standard deduction but restricts important itemized deductions for homeowners. Homeowners can only deduct mortgage interest paid on the first $750,000 of mortgage debt incurred after December 15, 2017. The old limit was $1,000,000. State and local taxes, including property taxes, are still deductible, but these deductions are capped at a total of $10,000.

Eshoo said she was especially frustrated with the California delegation’s GOP members for voting against their constituents’ interest. She said the Ways and Means committee is working on a plan to raise the SALT deduction cap and increase the mortgage interest deduction.

Does anyone know if the VA Funding Fee (mortgage insurance) is tax deductible?

The VA Funding Fee is usually combined with the total amount of the VA Home Loan, it is a form of mortgage insurance (not to be confused with property insurnace).

If this fee is listed on a separate line of your 1098 Mortgage interest statement then yes it should be.
Most likely, however, it is not.