Overall mortgage rates have trended downwards in the past couple of weeks.
Wells Fargo CEO John Stumpf believes that major banks will cut down on the mortgages they grant to borrowers with low credit scores because of the risks and penalties they have had to assume.
An Aite Group report warns about the risks that lending institutions face with commercial loans in the current economic climate.
Amortization schedules are especially helpful to homeowners since they allow them to view interest and principal values for different mortgage refinancing options.
Checking a borrower’s credit score can help lenders evaluate risk, but an individual’s history is not a perfect predictor of their future behavior. Lenders need to do their part to facilitate timely repayment by setting up workable amortization schedules.
There’s one reason why you may want to think twice about using Excel to set up an amortization schedule for a personal loan: the vast majority of all spreadsheets contain errors.
When you make a loan to another individual or organization, you need a reliable way to ensure that repayment will be completed in a timely manner. With an amortization schedule in place, the process is greatly simplified.
Although many prospective homeowners across the United States are benefiting from near record-low mortgage rates, a February 8 article from MarketWatch reveals that people are encountering difficulties when it comes to taking out a loan for a vacation home.
Even so, lenders would be well-advised to invest in loan management software. This will ensure that even as the market works its way back to full strength, borrowers can stay on top of their monthly payments.
According to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, first-time home buyers were purchasing only 34.7 percent of the homes sold in October.