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Advantages Of VA Streamline Refinances with Gus Dahleh Advantages Of VA Streamline Refinances with Gus DahlehComments Off on Advantages Of VA Streamline Refinances with Gus Dahleh

Advantages Of VA Streamline Refinances with Gus Dahleh

Partnering With An FDIC Bank by Gus Dahleh Partnering With An FDIC Bank by Gus Dahleh(1)

Why is partnering with an FDIC Bank a wise decision?

First of all, Partnering with an FDIC bank will essentially allow access to funds with very low interest rates.  The banks can borrow money from each other at the interest rate at which FDIC Banks lend money to each other.  FDIC banks are not subject to state mortgage lender laws. FDIC banks are characteristically overseen by the Office of the Comptroller of the Currency, which is an agency within the U.S. Treasury Department, pursuant to the National Bank Act.

FDIC banks can service their own products. Mortgage banks, in most cases, are contractually barred by covenants in their warehouse line agreements from servicing loans closed with warehouse funds. Also, the interest rate on funds borrowed from the warehouse facility is high enough that they quickly make a loan unprofitable.

Partnering with an FDIC Bank to manage turbulence

Because mortgage banks are mostly in the business of originating residential home loans (purchase and refinance loans), the residential housing crash, with the resulting economic problems, has caused many issues for businesses that are completely tied in with the market. In response to our economic issues, mortgage banks have gone out of business or sought to affiliate or partner with FDIC banks because they are better able to manage changes in the home loan market for the following reasons.

While the level of inspection aimed by the OCC is noticeably more intense, FDIC banks that partner with clients are usually relieved from state-imposed mortgage-loan originator licensing requirements. This permits FDIC banks to hire loan originators who might not otherwise be able to obtain state licensing because of bankruptcy filings or other non-financially related criminal histories.

For the past year, the Fed Fund Rate has been 0.25 percent (one-quarter of 1 percent). FDIC banks borrow money directly from a Federal Reserve Bank (at the Federal Discount Rate). For the past year, the Federal Discount Rate has been 0.75 percent (three-quarters of 1 percent).

Pit falls of partnering with an FDIC Bank

Joining forces with an FDIC bank doesn’t come without problems/limitations.  For example, careful thought should be given to the transition in order to compartmentalize liabilities in each respective entity and to avoid successor liability concerns.

Mortgage bankers moving to an FDIC bank platform should be informed that financial regulations on the FDIC side are increasingly more complicated and closely scrutinized by regulators. Care must be taken to avoid any fast and loose work when the OCC is evaluating  a company partnering with an FDIC bank.

Author “Gus Dahleh” is a sales leader who is owner of GusDahleh.com and is rather dedicated to providing readers with important as well as useful information and facts. Take a look at the following website link for more info on why its beneficial partnering with an FDIC bank.

Understanding Chicago Mortgage Loans Understanding Chicago Mortgage Loans(1)

Understanding Chicago Mortgage Loans

Only the most organized and financially knowledgeable mortgage borrowers can locate the lowest Chicago mortgage rates without additional assistance.  Luckily for the average person, there is my blog available to help out.  Your search for the most premium mortgage loan can be described in the following steps:

  • Figuring out your potential savings and current budget
  • Comparing interest rates and different types of mortgages
  • Finding a suitable mortgage lender

With the information and tips provided on my website, you can gain insight about the types of Chicago mortgage loans and rates, getting you ready for your first Chicago mortgage loan.

Fixed Rate Chicago Mortgage Loans

For people with a low tolerance risk, a fixed-rate mortgage loan (FRM) could be the right choice.  Many Chicago area borrowers favor the fixed-rate mortgage structure because of the security of a locked-in rate and the predictability of the monthly payment amount.  FRMs are also wholly remunerating, so there are no balloon payments that need to be refinanced.  Often times, FRM’s mature in 30 years, but there are shorter and longer terms obtainable.  Through understanding your budget, you can obtain the lowest rate fixed-rate Chicago mortgage by choosing one with the shortest payoff term.

Comparing Chicago Mortgage Loans

The best way to save money on your mortgage loan is to collect a set of written offers.  Start by contacting any qualified and knowledgeable mortgage broker, including myself, and find out what kinds of services they are offering.

Don’t make your final loan decision based on just the payment amount.  Sometimes a low payment works well for a budget, but only up to a point.  A low payment usually means a slower rate of payoff.  Belated debt payoff commonly raises interest costs and reduces the build-up of home equity.  Since the penalties may not be directly obvious, you should sort your mortgage offers by loan type primarily.  Review any FRM quotes together, and then individually look over your adjustable-rate mortgage (ARM) offers.  Make sure you are finalizing your decision based on carefully assessing your personal needs and what your budget constraints are.

To summarize, build a collection of mortgage loan offers and carefully look over them to make the right decision based on your own needs.  Your top priority should be to fully understand the different types of fixed-rate and adjustable-rate mortgages available in Chicago.

Article author Gus Dahleh of Bridgeview Bank is a proficient mortgage expert dedicated to bringing his readers important and also useful information.  Would you like a free mortgage quote? Check out the following website for a no-cost quote and expert suggestions on helping you discover the best Chicago mortgage loans.

Locating the Best Milwaukee Mortgage Rates by Gus Dahleh Locating the Best Milwaukee Mortgage Rates by Gus Dahleh(1)

Milwaukee Mortgage Rates by Gus Dahleh:

Due to today’s historically competitive loan rates, a large amount of folks throughout the Windy City are generally asking about how they could attain the most beneficial Milwaukee refinance rates rates. The following are a couple of pointers to help consumers identify the hottest deal.:

Broker Vs. Banker:
Generally there are just a couple of major varieties of mortgage providers for consideration. The first are brokers that technically will not fund the closings with their money, but they typically provide the largest options of “big bank” investors to place the loans with (these banks being Wells Fargo, Citibank, Chase, and GMAC to name a few). The negative effects connected with the broker not using their own funds to actually fund your transaction is their outsourcing of essential services. This could sometimes bring about additional hassles for consumers hoping for the smoothest dealing possible. As opposed to brokers, mortgage bankers offer a similar experience but in most cases have in-house underwriters that approve the mortgage loan to close plus they eventually close the loans on their own giving them the last say in approving conditions.

Studying Closing Cost Structures and How These Institution’s Bring In Revenue can be Critical to Acquiring You the Best Milwaukee Mortgage Rates with Gus Dahleh:

It is crucial you grasp that Broker organizations commonly have the cheapest expenses which will mean the absolute lowest rates. Nonetheless, quite a few borrowers still frown upon them because they also typically delegate many of the important services that involve getting your loan closed and that can lead to some of the head aches stated above in Tip #1. Conversely, the “Big Banks” including Wells Fargo, Chase, and Citi provide the absolute highest overhead costs and that usually end up charged to to the buyer in undesirable rates. The “Big Banks” have substantial continuing carrying costs such as billboards, tv and radio commercials, web banner advertisements, numerous levels of operations, loss mitigation departments, legal departments, and on and on. For this reason, you can typically obtain the best Milwaukee mortgage rates by selecting the lender in the middle of the spectrum: the mortgage bankers. Mortgage bankers generally have relatively low expenses yet nevertheless have the control of crucial services in house, specifically underwriting and closing departments.

Lenders Closing Costs and Getting the Best Milwaukee Mortgage Rates with Gus Dahleh:

You may have seen several banks advertising and marketing “no closing costs”, particularly on refinances. Be cautious though because quite often they’ve already built those fees in to the rate one way or another. For instance, it should be up to you the borrower whether you’d like the closing expenses paid at closing in cash, built in to the new transaction, or, paid for by the lender but in exchange for a marginally increased interest rate. In general with mortgage bankers like Bridgeview Bank, they could cover the majority of or all your closing expenses and also still enable you to get a rate that is lower compared with any of the “big banks”.

Article writer “Gus Dahleh” is a sales innovator who is owner of GusDahleh.com and is focused to delivering readers with important and also helpful tips. Find out more about the following link for a Complimentary refinance assessment as well as skilled assistance on how to obtain the best Milwaukee mortgage rates with Gus Dahleh.

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