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Are you always racking up credit-card debt? Your parents may be to blame

How do your parents feel about debt? The answer may have a lot to do with your own feelings about your current financial situation.

Parents pass on their anxiety levels around debt to their children, according to a study distributed this week by the National Bureau of Economic Research, in Cambridge, Mass. Some 56% of those surveyed said they feel uncomfortable with debt and 62% said their parents feel uncomfortable with debt.

The researchers, from Stockholm University and The George Washington University, concluded that children closely follow their parents’ leads when it comes to their feelings about debt. However, they noted that the younger generation feels more comfortable with debt than their parents, “showing that attitude toward debt is changing across generations.”

Mothers and daughters were more uncomfortable with debt than sons and fathers. Women were also slightly less likely to discuss money with colleagues. “Thus, family and intergenerational transmission of attitudes toward debt can be quite influential for women,” the study concluded. (The researchers asked about 400 men and 450 women in Sweden about their feelings toward debt, in the fall of 2014. They were all between the ages of 25 and 75.

Angel Oak reverts to in-house origination for next nonprime RMBS

Angel Oak’s next private-label mortgage securitization is backed entirely by loans originated in-house by one of two affiliates, according to rating agency presale reports. Unlike the previous transaction, completed in June, none of the collateral for the $395.77 million Angel Oak Mortgage Trust (AOMT) 2018-3 was originated by a third party.

Similar to the 2018-2 transaction, however, the collateral includes a large portion of loans underwritten using bank statements to verify borrower income: 49%. That is unchanged from the prior deal, but up from 46.1% for Angel Oak’s first transaction of the year. It is also the highest level for any Angel Oak transaction rated by Fitch Ratings to date.

However, many of the bank statement loans in the latest deal were originated to borrowers through two programs, Angel Oak Platinum (10.3%) and Prime Jumbo Mortgage Loan Program (11%). Borrowers in these programs typically have higher FICOs and higher reserves, which Fitch believes benefits the pool.

Which lender we should choose for mortgage loan in Tacoma WA?

We need your opinion there are too many companies and banks in market and we want to know which lender is really best as far as APR and service is concerned.
We are in Tacoma WA and we would prefer in person lender instead just online.


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