1st Mortgage Insight Conference Considered a Phenomenal Success


Sacramento, CA (PRWEB) April 29, 2012

The 1st annual Mortgage Insight Conference, hosted and sponsored by Comstock Mortgage last Thursday, April 26th, was a huge success. Attended by almost 100 Mortgage Industry professionals and leaders, the conference covered a diverse array of topics related to the mortgage industry, such as HARP 2.0, marketing, rates and market fluctuation, FHA changes and much more.

The conference was held in a panel style with dynamic and knowledgeable panelists Sue Woodard, President of Mortgage Market Guide, flew out from her headquarters in Minnesota to speak at the conference, covering topics ranging from the housing market to effective marketing. David Battany, former Direcor of Fannie Maes single-family services and now Chief Product Stategist at PennyMac, traveled from Southern California and provided helpful insight into the GSEs (Government Sponsored Enterprise), reviewing publicly available though seldom discussed reports and data. Phil Rasori from MCT Trading clarified the hedging process, and Rob Chrisman, well known industry expert, provided closing statements from his in depth knowledge and perspective of the industry.

The panel was moderated by Jeff Tarbell, Host of Talkin Money, VP and Senior Loan Consultant at Comstock Mortgage. Tarbell extended a huge thank you to all the speakers who made this event possible. Despite demanding schedules, all were willing to take time to help educate and promote more understanding about the industry.

This year was the first year Comstock Mortgage has attempted to sponsor such a conference. Due to the enthusiastic response received, Comstock Mortgage is considering making this conference an annual conference, and with that, is contemplating the line-up for 2013.

For more information about Comstock Mortgage or the conference, please contact Angela Murray at 916-367-7101 or visit them on the web at http://www.comstockmortgage.com.







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Fixed Mortgage Rates Drop To Near Record Lows Announces BurlingtonMortgage.biz


Wilmington, NC (PRWEB) April 30, 2012

Mortgage rates for the most popular fixed rate home loan products are down slightly on average, reaching just above record lows, reports mortgage rate research website, BurlingtonMortgage.biz. On Thursday, April 26th, 2012 30 year fixed mortgage rates as low as 3.500% (APR: 3.579%, Points: 0, Fees: $ 1950, Lender: LenderFi Inc., Tennessee mortgage rates) were advertised on the site. 15 year fixed pricing was posted in the rate tables as low as 2.875% (APR: 3.019%, Points: 0, Fees: $ 1995, Lender: AimLoan.com, Tennessee mortgage rates.)

When Freddie Mac, a government sponsored enterprise which purchases mortgage loans on the secondary market, released its weekly survey of mortgage rates on Thursday, April 26th, 2012, the data confirmed that home loan pricing saw a small drop on average for fixed rate programs. 30 year fixed interest rates were shown to have dropped to 3.88% (0.7 points) on average from 3.90 (0.8 points) one week earlier. 15 year fixed mortgage rates were also down slightly moving from an average of 3.13% (0.7 points) to 3.12% (0.6 points.)

5 year adjustable rate mortgage rates were up this week, reaching an average of 2.85% (0.6 points) after falling to a record low 2.78% (0.7 points) the week prior.

Continued low mortgage rates are likely welcome news to the many homeowners hoping to refinance through HARP, the Home Affordable Refinance Program. The program is designed for homeowners with little to no equity, or even a negative equity position where they owe more on their mortgage than the home is worth, and who as a result can’t qualify for a traditional refinance. HARP has gotten a great deal of attention in recent months, but only recently have mortgage lenders been able to start taking applications and closing these refinance loans.

“There have been a great deal of underwater homeowners anxiously watching mortgage rates tick up and down while they waited for the HARP details to be finalized and for a process to be put in place,” commented Nat Criss, Managing Partner of CMG Equities which owns BurlingtonMortgage.biz. “It’s exciting to see that many of them are able to take advantage of this incredibly low mortgage pricing to make their homes significantly more affordable, and that high numbers of HARP loans are able to close while rates remain so attractive,” he continued.

Below is a snapshot of interest rates for a variety of products listed on BurlingtonMortgage.biz on 4/26/2012. Nashville, TN mortgage rates were used in this example. Rates are subject to change. Please visit the site to view the criteria used in the survey.

30 Year Mortgage Rates (0 Points)

Quicken Loans 4.250% Note Rate 4.327% APR $ 1557 Fees in APR

AmeriSave – 4.000% Note Rate – 4.083% APR – $ 1995 Fees in APR

20 Year Mortgage Rates (0 Points)

AimLoan – 3.500% Note Rate – 3.613% APR – $ 1995 Fees in APR

QuickenLoans – 3.990% Note Rate – 4.080% APR – $ 1557 Fees in APR

15 Year Mortgage Rates (0 Points)

AmeriSave – 3.000% Note Rate – 3.144% APR – $ 1995 Fees in APR

LenderFi Inc. – 2.875% Note Rate – 3.016% APR – $ 1950 Fees in APR

10 Year Mortgage Rates (0 Points)

AimLoan – 2.750% Note Rate – 2.959% APR – $ 1995 Fees in APR

LenderFi Inc. – 2.750% Note Rate – 2.955% APR – $ 1950 Fees in APR

About BurlingtonMortgage.biz

BurlingtonMortgage.biz is a website that offers information regarding mortgages and personal finance. BurlingtonMortgage.biz is owned by CMG Equities, LLC based in Wilmington, North Carolina.







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Lender Mr. HARP Concerned California Homeowners Arent Aware of Low Refinance Rates for Their Mortgage


Burlingame, CA (PRWEB) April 26, 2012

A record number of individuals with distressed homes are eligible to refinance under the HARP 2.0 program. This bodes well for homeowners looking to reduce their rates and lower the monthly mortgage payments. The only problem? No one seems to know it.

An informal survey regarding the HARP 2.0 program and its purpose has yielded a rather staggering response: What the heck is HARP 2.0?

“Our biggest issue right now is that the potential beneficiaries of this program have no idea that the program exists,” says Mike Chiu, a San Francisco Bay Area mortgage broker.

According to Chiu, the less stringent stipulations of the HARP 2.0 program have yielded a very high amount of loan modifications thus far. Those homeowners with high LTVs (Loan-to-Value) and less than stellar credit scores have been able to successfully refinance their homes. His work on the program thus far has his colleagues referring to him as Mr. HARP for helping these distressed underwater individuals.

“Once people see the lower rates, they don’t need to be convinced to utilize the program,” says Chiu.

There are numerous ways to get information and use the program, but some can get homeowners better rates than others. One common misconception is that homeowners must use their current lender to take advantage of the HARP program. This is not true, and can in fact leave homeowners paying higher rates than necessary.

“Banks and lenders have the ability to contact their clients directly,” says Chiu. “However, it would be very smart to shop around for the best rates. A lender like me, who has no overlays, can more often than not get homeowners lower rates and/or smaller closing costs.”

Another thing that homeowners should keep in mind is that being declined by the bank does not mean they will not be able to find someone who can aid them in refinancing. Since many banks have to deal with overlays, they sometimes turn down individuals who qualify for the program. This should not deter homeowners from seeking second or third opinions from other brokers and lenders, including Mike Chiu.

I have experienced numerous instances thus far where the bank or other institutions have turned down someone who I was ultimately able to help successfully refinance, says Chiu. I encourage these individuals, along with anyone else interested in the HARP program, to contact me to see if I can help.

To get a no obligation quote or take advantage of the program, homeowners can contact Mike Chiu directly at mike(at)mrharp(dot)com or call him at (855) MR-HARP1. He is currently specializing in helping all California homeowners refinance their homes using the HARP 2.0 program.







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