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BSI adding jobs in coming weeks
"We're fast approaching the 30-year mark in the mortgage industry and we've always been in Titusville, and nationwide, our employment would be about 300 people." And, Johnson-Sheely added The company is one of the few independent special servicers

JPMorgan With Wells Fargo Lose Share to Small Rivals: Mortgages
The two largest U.S. home lenders are feeling the bite of competition from smaller firms as mortgage originations tumble at the fastest rate since 2011. New loans at Wells Fargo & Co. (WFC), the biggest, fell 38 percent to $50 billion in the fourth

Here's how to take some of the hassle out of buying a new home
Scott Davis, a senior loan officer at McLean Mortgage in Fairfax, Va., says buyers should never start searching for a home without speaking first with a lender. This will help you avoid falling in love with a home you can't afford. Plus, a lender can

Maryland foreclosures surged 117 percent in 2013
Maryland foreclosures surged 117 percent in 2013 Maryland foreclosures finished the year up 117 percent over 2012 as mortgage lenders worked through a tremendous backlog of judicial filings left over from the housing crisis. Online foreclosure clearinghouse RealtyTrac Inc. ranked Maryland fourth in

Commercial Mortgages Loans Maryland commercial loan or home commercial loan Maryland lenders provide financing and Hard money loans refinancing nationwide ...

Can a reverse mortgage help save an underfunded retirement?

What if you’re close to retirement (or retired) and the bulk of your net worth is tied up in the value of your home?

Such a situation is what experts call being “house rich, but cash poor.”

For many seniors, their largest retirement asset is their home. And so, of course, the financial institutions found a way for folks to tap that money. It’s called a reverse mortgage, which allows people who are 62 or older to borrow against their home’s equity.

Unlike a traditional home loan, with a reverse mortgage the borrower doesn’t have to make monthly payments. The lender doesn’t collect until the homeowner moves, sells or dies. When the home is sold, any equity that remains after the loan is paid off is distributed to the person’s estate. If heirs want to keep the home, they have to pay off the mortgage. At least the loan is limited to the market value of the home.

The loan size depends on the borrower’s age, how much equity is in the home and the current interest rate. The loan can be disbursed as a line of credit, a lump-sum payment, fixed monthly payments or a combination of those.

Legal Matters: What's a 'finder' and how are finders affected by state laws?

The General Assembly amended the state law on finder’s fees for mortgage brokers in 2017 to provide that, effective Oct. 1, a mortgage broker obtaining a loan on the same property more than once within 24 months will be limited to charging no more than a total of 8 percent of the initial loan amount when combining the finder’s fee charged on that loan and any other finder’s fees collected during the 24-month period.

Maryland’s Finder’s Fee Act applies only to mortgage brokers, not to lenders, the Fourth Circuit Court of Appeals held in a 2014 decision.

Borrowers had challenged finder’s fees charged by Prosperity Mortgage Co. Because Prosperity was partly owned by Wells Fargo, the borrowers claimed that Prosperity was acting as a mortgage broker, bringing them together with Wells Fargo, which provided Prosperity with a line of credit to make mortgage loans.

The court’s decision meant that a mortgage lender could not be held liable under the state law for violating fee limits or other provisions of the act, if the lender was not acting as a mortgage broker.

I was wondering if anyone knew anything about USDA mortgage in Maryland? I'm looking for details if possible?

I'm a first time Home buyer ex Realtor and I understand a little bit about it. I did not have my Maryland License but I'm looking to get answers for my Mortgage lender who seems can't find any???

What kind of details do you need besides the following.