Welcome to Mortgage Guide
Mortgage Crisis Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Mortgage Lenders: the Basics
from:One of the most important financial decisions you will make is whether or not to purchase a property. An integral part of buying a home is selecting from among the various mortgage lenders. You have many more choices than you may realize and the competition for your business can pay off in the long run.
Bankers
Some consumers are more comfortable working with a large financial institution that specializes in various financing products and services. The benefit of choosing these mortgage lenders is their longevity in the field. Customer service and lending know-how are required for these giants to be successful.
Mortgage bankers are able to originate loans right in their offices. This is another great benefit to consider. The banks have liaisons with various lending institutions like Fannie Mae. One way to sport a real mortgage banker is to see whether or not the establishment has a wholesale lending division.
Brokers
Wholesale lending institutions often work with mortgage brokers. These organizations work to find the best deals for their clients. A good broker will have well-established relationships with a number of different wholesale lenders. A broker will not have a wholesale loan department.
The underwriting and funding actually take place with the wholesale lender. Of course, the broker will require some fees. However, many homebuyers find this investment to be well worth it considering the results.
Wholesale Lenders
Brokers are not wholesale mortgage lenders. Bankers and portfolio lenders often function as wholesale lenders. Just like a wholesaler provides goods and services to retail establishments, the lenders do so for brokers and other loan organizations. Some of these organizations have their own retail branches while others rely solely on brokers for their business.
The approach of using a broker may seem as if it would cost the consumer more in the long run. However, the broker is able to find the best rates and terms for its customers. The fees charged are often well worth the benefits that consumers reap over the course of the loan.
Some may prefer to go straight to wholesale mortgage lenders that have retail chains. The lender does sell the package to the broker at a discount, making the cost of the loan about the same whether the loan is made through the broker or the retail branch.
Shopping around for the right mortgage lender is always a good idea whether you are considering borrowing directly from a banker or through a broker. There are many options to consider. Exploring all of your options before making a commitment can save you a lot of money over time.
Mortgage Crisis News
Kenny says mortgage crisis biggest issue facing Ireland - Irish Times
 Irish Times | Kenny says mortgage crisis biggest issue facing Ireland Irish Times Taoiseach Enda Kenny: said the Government had taken a number of steps to deal with the mortgage crisis. Photograph: Aidan Crawley/Bloomberg Mortgage arrears is the single biggest issue currently facing Irish people, Taoiseach Enda Kenny has said. 'More urgency' demanded over mortgages crisis Taoiseach: Mortgage arrears biggest issue facing country |
Credit Suisse report plays down risk of mortgage crisis - Brisbane Times
 Financial News | Credit Suisse report plays down risk of mortgage crisis Brisbane Times AUSTRALIA'S high house prices look more likely to slow lending growth than cause a mortgage crisis in the medium term, a Credit Suisse report suggests. Falling demand for overvalued houses would affect the big four banks' ability to expand their ... Dark cloud risk for big four banks after GFC mortgage crisis escape: Credit Suisse Warning for bank on mortgage credit rules Lending standards variable |
Banks 'overwhelmed' by mortgage crisis: Elderfield - Irish Independent
 Longford Leader | Banks 'overwhelmed' by mortgage crisis: Elderfield Irish Independent By Laura Noonan BANKS must get into a "completely different mode" to deal with the escalating mortgage arrears crisis that has "really overwhelmed them", financial regulator Matthew Elderfield said yesterday. His comments came as Central Bank Governor ... Lunchtime Bite: Central Bank chief 'uncomfortable' with mortgage crisis Central Bank to push lenders on escalating mortgage arrears Quarter of all home loans in trouble |
Govt failed to deal with mortgage crisis - Micheál Martin - RTE.ie
Govt failed to deal with mortgage crisis - Micheál Martin RTE.ie Fianna Fáil leader Micheál Martin has told the Dáil that the Government has failed to deal with the mortgage crisis. Speaking during Leaders' Questions, Mr Martin said there was a lack of urgency and a chronic inactivity. He said that 10% of homeowners ... |
SEC dealt blow in financial-crisis case - Chicago Tribune
 AsiaOne | SEC dealt blow in financial-crisis case Chicago Tribune WASHINGTON (Reuters) - The US Securities and Exchange Commission was dealt a setback in its cases tied to the financial collapse when a federal judge dismissed large parts of its case against former executives at failed mortgage lender IndyMac Bancorp. US SEC Dealt Blow in Financial Crisis Case Judge dismisses parts of IndyMac fraud case Former IndyMac CEO Escapes Some SEC Charges |