Programs
Our mission statement: We are dedicated to delivering a new standard of service and innovation to mortgage lending that builds long-term relationships that result in customer for life. Getting to know each client and always treating them with the utmost consideration and professionalism are the qualities found in our team. At Real Estate Mortgage Funding we offer a variety of loan products and programs to suit your financial situation. Our menu starts with the traditional 30-year fixed rate mortgages for primary residences as well as loan terms for either 25-, 20-, 15- and even 10-year amortizations. If you believe that you will be in ...
What is a FICO Score?
A FICO score is a credit score developed by Fair Isaac & Co. Credit scoring is a method of determining the likelihood that credit users will pay their bills. Fair, Isaac began its pioneering work with credit scoring in the late 1950s and, since then, scoring has become widely accepted by lenders as a reliable means of credit evaluation. A credit score attempts to condense a borrower’s credit history into a single number. Fair, Isaac & Co. and the credit bureaus do not reveal how these scores are computed. The Federal Trade Commission has ruled this to be acceptable. Credit scores ...
FHA Loans
An FHA Loan is a mortgage loan insured by the Federal Housing Administration (FHA). The FHA does not provide the loan; rather, it insures the loan for the lender. If the borrower defaults, the lender can seek recourse from the FHA. This lowers the lender's risk and makes them more likely to issue a loan. The FHA was formed in 1934, and joined the Department of Housing and Urban Development in 1965. The organization has insured more than 33 million home mortgages since its inception. Today it continues to help families who may have credit issues or need low down ...
Today’s Economic Headlines
- Super Bowl goes into overtime, with the ads
Monday, 8 February 2010, 3:29 pm
Think Sunday night's Super Bowl seemed like it had a lot of ads? You're right. Commercials took up nearly 48 minutes of the game — the most for any Super Bowl.MSNBC - Business
- Dow industrials close below 10,000
Monday, 8 February 2010, 3:15 pm
Concern about mounting debt in Europe has pushed the Dow Jones industrials below 10,000. The Dow closed below the psychological barrier for the first time in three months. - UPS plans pilot furloughs, sees gradual recovery (Reuters)
Monday, 8 February 2010, 3:12 pm
Reuters - United Parcel Service Inc , the world's largest package delivery service, announced plans on Monday to furlough at least 300 pilots as the very gradual pace of the U.S. economic recovery ne. […]Yahoo! News: Economy News
- Toyota resale value, reputation take a fall
Monday, 8 February 2010, 3:05 pm
Recalls and a slow response to safety questions have put a dent in the market value of cars long seen as money in the bank for their owners. - Chinese spy gets more than 15 years in prison (AP)
Monday, 8 February 2010, 2:45 pm
AP - A Chinese-born engineer was sentenced Monday to more than 15 years in prison for hoarding sensitive information about the U.S. space shuttle that prosecutors say he intended to share with China.
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As 2010 unfolds, expect mortgage costs and rates to rise
For The Daily Record The outlook for 2010 is beginning to take focus and from actions coming from the Federal Housing Administration last week and Wednesday’s...
HUD’s new good faith doesn’t answer simplist questions
If you’ve been shopping for a mortgage in these first few days of the 2010, then you may have already gotten the new good faith estimate that all lenders...
Modifying a loan: Ask and you shall recieve
Published in The Daily Record, July 27, 2009 Since the mortgage meltdown started, a number of government and private-sector rescue plans have become available...
