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Mortgage Choice - Difference between brokers and lenders

Buying property is probably the most stressful things you will ever do, but where to you start? Contact the home loan specialists, Mortgage Choice ...

Bay Capital Mortgage Announces New Chief Executive Officer ...

​​​Bay Capital Mortgage (Bay Capital) proudly announces that Timothy J. Gough, has joined the locally-based company as Chief Executive Officer (CEO). After graduating from the University of Maryland with a degree in Economics, Tim brings over 30 years of experience in the financial services industry; which includes the designation of being a Master Certified Mortgage Banker (CMB) recipient; the highest certification awarded a member of the industry.

Bay Capital Chairman Leo Dunn says, “We are extremely proud to welcome Tim to the Bay Capital Mortgage family. With his local roots and extensive industry knowledge, we are now even further positioned to be the premier mortgage lending choice for the Mid-Atlantic region and down through the southern states.” Dunn goes on to say, “Local experience is a key factor and Tim served on Maryland Governor Larry Hogan’s Transition Team that was responsible for the agency review of the Department of Housing and Community Development.

VantageScore White Paper Addresses Key Operational Challenges to Ending FICO's Monopoly in the Mortgage Market

Today, VantageScore® Solutions, LLC, developer of the VantageScore credit score model, released a new white paper that addresses key operational challenges that have been cited as the Federal Housing Finance Agency (FHFA) enters the back stretch of its assessment of the feasibility to allow lenders to choose which credit scoring model is the best fit for their businesses.

The white paper "New credit scoring models: A smooth transition to more transparent mortgage capital markets," is published ahead of FHFA's expected "Request for Information" (RFI) on this matter. In this process, interested parties, including mortgage lenders, investors in mortgage-backed securities (MBS) and consumer advocates, will be asked to provide feedback to key questions which relate to a possible transition from the status quo, a government-sanctioned monopoly, to an environment in which credit score competition and choice will be allowed.

Currently, and for more than the last two decades, Fannie Mae and Freddie Mac have "locked-in" outdated, conventional credit scoring models, through their seller servicer guidelines. These guidelines require lenders who rely on automated underwriting to use older versions of the FICO model that are based on sample data which dates from 1995 through 2000.

Who is my best mortgage lender choice?

I am 20 years old and looking to buy a townhouse to renovate and resell. I found a house listed for $45,000. I would hope to get at least $20,000 extra to cover the cost of renovations.


Goto your local banks and shop around for a good deal. Also you can try lendingtree.com or similar websites.

Just be aware that if you take out a mortgage in order to flip a property, you need to do it fast!