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Mojo - January 2014
Mojo - January 2014 If Ohio enacts the bill, it will join a number of other states that have done so in the last year: Arkansas, Colorado, Florida, and Illinois. He "would do well to take time from his fundraising schedule to meet with families in District One and

People in Business for Jan. 19, 2014
He'll provide support and direction to real estate lenders and their assistants in the Livingston, Helena and Bozeman markets. Hennessy has more than 20 years experience in mortgage lending and joined First Interstate two years ago as secondary market 

Will Obama push housing reform in SOTU Not expected this year, but ...
'We would welcome the White House's engagement in the GSE debate, particularly on the issue of bringing private capital back to the secondary mortgage market through ideas such as up front risk sharing,' said Dave Stevens, head of the Mortgage Bankers

New Loan Safeguards Leave Path for Higher-Risk Borrowers
A "For Sale" sign stands in the yard of a single family home in Denver, Colorado. The Read More. A "For Sale" Now, as regulators tighten mortgage rules and big banks resist lending to riskier middle-income Americans, HFAs across the U.S. are

Foreclosed Homes for Sale Perto Rico Vega Baja Casas Reposeidas Vega Baja FNMA Foreclosed Home #P090655. This is a home located in a great area and community. Off state road #2 ...

Bankers' Hours column: The most misunderstood part of the mortgage lending process

The FDIC, Office of the Comptroller of the Currency (OCC), Federal Reserve and the National Credit Union Association (NCUA) want to raise the loan threshold at which an appraisal is required, from $250,000 to $400,000. The professional association for appraisers, the Appraisal Institute, says this is irresponsible and could be a factor leading to another housing crisis. (Not to mention that the number of appraisals that lenders order might decrease, as would appraisal fees.)

There are some interesting nuances to this. First is that any bank, operating within its own market, has a very secure handle on current real estate values. So, in the instance of residential real estate, an appraisal in the file doesn’t necessarily enhance the quality of the loan asset. Besides, when a bank or credit union makes a home loan without securing a third party appraisal, they’re required to do an internal evaluation of the collateral. In this process, the lender can do everything that an appraiser does, including physically inspecting the property. If these value assessments are cursory or careless, the bank will have its knuckles rapped by examiners.