Industry

This section contains articles that discuss different aspects of the residential mortgage loan industry. For borrowers and property buyers who want to know more about what motivates the institutions and parties in the real estate market, these articles are highly informative reading:

  • Overview of the Mortgage Industry. Today's dynamic mortgage industry is mainly due to developments of this century..
  • Regulatory Requirements. Consumer protection tools enacted by Congress and the federal government.
  • Fannie Mae (FNMA). The largest financial company in the country is the most powerful in the mortgage industry.
  • Freddie Mac (FHLMC). Fannie Mae's smaller, younger cousin.
  • Ginnie Mae (GNMA). A little bit of the original Fannie Mae that went its own way.
  • Loan Purposes—Purchase, Refinance, Construction. The loan usage will affect the terms, requirements and price.
  • Loan Programs & Pricing—How long are you staying? When selecting among different loan programs, the most important factor should be how long the buyer intends to keep the property.
  • Loan Servicing. Loans are regularly sold and transferred between lenders and servicers.
  • Housing Payments—PITI. A dissection of the elements that make up the monthly housing payment and their importance.
  • Private Mortgage Insurance (PMI) options. PMI adds $30 to $100 per month to the average loan.

This article offers options to reduce or eliminate PMI.

  • Prepayments on Principal. A great way to save thousands of dollars on a mortgage loan is to prepay on the principal.
  • Amortization and Term. Often confused, these two elements are actually separate factors that can change the price and process of any mortgage loan.
  • Mortgages vs. Loans. Not all loans are mortgage loans. In fact, mortgages strictly speaking are not loans.
  • Loan-to-Value (LTV) ratios. The LTV is the primary tactic used by lenders to limit and control risk.
  • Hazard (Homeowner) Insurance. Hazard insurance has become a fact of life for all real estate, particularly when a mortgage loan is involved. This article will review the many elements of the hazard insurance.
  • Money-Saving Tips. There are many ways to save money with mortgage financing--if consumers only knew.

We hope that you've found our Mortgage and Real Estate Resource helpful and informative. We welcome all comments, critiques and suggestions; please send emails to [email protected]. Remember that whether your are buying a home or an office building, you are investing in real estate. As with all investments, the best investors are those who can gather the most knowledge, tools and resources. Regardless of whether you use our lending services, please spread the word about our resource center to anyone you know who may benefit from our site.

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