Tranches are portions of mortgage-backed securities that are split when a bank and it turns into a collateralized mortgage obligation. Each tranche is based on its date of maturity, or when a homeowner is scheduled to pay off their mortgage, then by risk.
The construction and development of your first financial portfolio can be a tricky, intimidating process. However, it’s not as complicated as you may think. A well-diversified portfolio can provide you with long-term profit and increase the growth of your investment.
When you buy a home, you know that you need a good credit score, will be more likely to seal the deal if you buy in cash, among other things. While having a good financial situation is definitely a perk, it’s not everything you need to appeal to a homeowner selling their home.
As a loan officer and a consumer, it’s important to know about the secondary mortgage market and the corporations that are involved. These publicly-traded corporations are called government sponsored enterprises.
Back in the housing crisis of 2007, millions of homeowners lost their homes to foreclosure. Now that the years have passed, they’re looking to buy a home again and are subsequently called “boomerang buyers”—someone who has foreclosed on their home or experienced a short sale and are now eligible to buy a home again. As […]
Many people who have gone through the foreclosure process wonder if they will ever able to buy a house again. While a foreclosure can be a big blow to your credit score, you may eventually be able to get another mortgage, but you’ll have to wait. The amount of time you must wait before applying […]
It’s time for you to sell your home and list it for sale. You’re excited, but you may be wondering what time of year is best and will get your home the most exposure. Are there really on- and off-seasons? The short answer: yes. If you’re looking to sell your home, it’s generally recommended to […]
As a lender, there’s no sure-fire way to know exactly what the mortgage market will be like a few months or even a year from now. Your best chance to make sure your business keeps going when rates go up is to prepare your clients for those higher mortgage rates. That way, they won’t be […]
When you buy a home, you expect it to be free of any liens or claims and that you can legally do what you like with the property. A marketable title is a title that is transferred to a new owner without the risk of an outside party making claims on it. This outside party […]
You’re a few years into your mortgage and have decided to pay it off early. Due to a term in your loan agreement, you know that you will have to pay your lender a fee in order to do so, or a prepayment penalty. A prepayment penalty is an agreement that regulates how much a […]