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Sales of Previously Owned US Homes Rose in December (Correct)
http://www.businessweek.com/news/2014-01-23/sales-of-previously-owned-u-dot-s-dot-homes-rose-in-december-correct
At Regions Financial Corp. in Birmingham, Alabama, mortgage production fell last year even as overall lending increased $4.5 billion, about 8 percent, as people took advantage of low interest rates earlier in 2013. “Consumer balance sheets are

Greystone Opens Birmingham, Alabama Office to Serve Lending Demand in ...
http://www.heraldonline.com/2014/01/15/5582949/greystone-opens-birmingham-alabama.html
NEW YORK — Greystone, a leading national provider of multifamily and healthcare mortgage loans, today announced that it has expanded its footprint in the Southern U.S. with the opening of a new office in Birmingham, Alabama. Under the guidance of 

Greystone real estate lender opens Birmingham-area office
http://www.al.com/business/index.ssf/2014/01/greystone_real_estate_lender_o.html
BIRMINGHAM, Alabama – New York-based Greystone has established a Birmingham-area office for its apartment and healthcare mortgage loan operations. Greystone said the new office will give the company an expanded footprint in the South and 

Timothy Ladin Joins DailyDAC LLC
http://www.prweb.com/releases/2014/01/prweb11486099.htm
DailyDAC (http://www.dailydac.com) provides subscribers, most of whom are private equity and family office professionals, with actionable intelligence regarding opportunities to purchase and invest in private companies. Financial Poise (http://www

Commercial Mortgage Loans in BIRMINGHAM, ALABAMA

www.lendinguniverse.com Find and compare hundreds commercial mortgage loans in BIRMINGHAM, ALABAMA. LendingUniverse - Real Estate Brokers ...

Higher Credit Scores Needed For Home Purchase

Welcome to the 2018 home-buying market. Rising demand and an extremely tight supply of homes, especially in the critical starter-home market, make it difficult to realize your goal of home ownership.

In this buyer's market, you'll need two important things to land your dream home more money and a higher credit score.

Data from the Joint Center for Housing Studies (JCHS) at Harvard University highlight the credit score issue. According to the 2017 JCHS study, " The State of the Nation's Housing 2017 , " the median credit score for successful mortgage loan applications increased from a FICO score of 700 in 2005 to 732 in 2016. Lenders are still conservative in their risk assessments aided in part by regulations put in place during the housing crisis.

In the pre-crisis market of 2005, around 10% of conventional first lien mortgages went to borrowers with a credit score below 620. That number fell to nearly zero by 2009, and as of 2016, it was still at 0.1%. Just over 3% of 2016 loans were issued within the 620-659 credit score range, while approximately 67% were issued to borrowers with credit scores of 740 or higher.

Subprime loans – should you take the risk?

Subprime Loans are Back

Since the housing crisis began over a decade ago, subprime mortgage loans basically disappeared thanks to regulatory actions from government and self-preservation for both lenders and borrowers. The effects of borrowing more than you could safely afford to repay became obvious to all parties.

Subprime mortgage loans have been making a slow comeback over the last decade, driven by years of pent-up consumer demand and lending institutions competing for more business.

If you have borderline or poor credit (credit scores in the 580-669 range or below), lenders are devising new ways to offer you a mortgage loan. Are you ready to take advantage of these offers and, even if you are, is a subprime loan the best choice for you?

Increased Risk But Greater Scrutiny

Data from the Mortgage Bankers Association (MBA) shows that during the first quarter of 2007, approximately 13% of all residential mortgage loans were subprime loans totaling almost $115 billion, according to the Federal Reserve. By the end of 2017, the subprime loan volume decreased more than fivefold to $20.4 billion.