refinance

The two largest government-sponsored mortgage enterprises, Fannie Mae and Freddie Mac, are once more raising the fees they place on mortgage lenders in order to persuade private firms to enter back into the market. An increase in fees means that mortgages from Freddie Mac and Fannie Mae are more expensive. This makes room in the market for private firms who can compete by offering mortgages with lower fees. The overall goal of the move is to lessen Fannie Mae and Freddie Mac’s influence on the market so they require less taxpayer money to operate. The two companies have received more than $187 billion in aid from taxpayers since the housing market collapse in 2008. Raising the fees is nothing new as both principle and interest have doubled in the past…

  According to Standard & Poor’s, the leading financial research and ratings company in America, the biggest banks in the country may need to cough up nearly $105 billion on top of the billions they’ve already paid stemming from the financial crisis of 2008. By now it’s fairly common knowledge that big banks such as Wells Fargo, Bank of America, JP Morgan Chase and a host of others engaged in the shady business of repackaging residential mortgages into securities and issuing hundreds of thousands of subprime mortgages. While the number may seem large, banks have a treasure trove in which to delve into when situations such as this arise. America’s largest banks have an uncanny ability to make money so even with the new fees, they are unlikely to take…

The process of purchasing a home can be a daunting experience for first-time home buyers. Many think it’s a dizzying maze of paperwork, credit checks and gathering documentation. But if you prepare correctly, securing a mortgage really isn’t as complicated as it seems. The rules of today of aren’t the same as five years ago. Before you start house hunting, it’s a good idea to gather and organize all the required documents. This will make the process much easier to find the right home for you.  It’s important to have patience. Because of the recent housing burst, it might take a longer period of time to secure a mortgage loan. Today’s lending standards are stricter than the days of 2005 and 2006. But don’t be intimidated. A responsible mortgage lender…

  When it comes to mortgage scams, it’s really easy to get hoodwinked into signing away your house without every realizing it. Deed theft is one such scam that is a serious problem here in the United States. Ever since the housing market collapse a few years ago, people have been suckered into scams like deed theft which take advantage of people who are quickly approaching a desperate situation in order to keep their house. Ace Mortgage Loan Corp always values honesty and transparency above all else and we hate to hear about people who fall victim to these terrible scams. Let’s take a look at how deed theft scams can happen. Deed thefts are often billed like any other mortgage scam. A desperate homeowner is offered a deal that…