Importance of a Loan Processor

by | Feb 12, 2014 | Mortgage Information

There have been many changes in the mortgage business recently and one of the most important individuals in the process is the loan processor. My experience as a loan officer and mortgage loan originator has made me really appreciate our processor here at Florida Mortgage Funding Group. I can remember a few years ago when I was acting as the loan officer and processor at my previous job. At that time I felt like I was getting everything done sufficiently but I was wrong. Some of the things a good processor will do is obtain insurance quotes, order title, submit loan to underwriting, collect documentation, order surveys, order appraisal, and the list goes on. The most important thing about a good processor is that they control the time it takes to close the loan. Since the average closing time on loans at Florida Mortgage Funding Group is 30 days or less I can tell our processor is getting the job done. If you are interested in a simple mortgage process and a closing in less than 30 days please contact...

Monday Mortgage Recap

by | Feb 10, 2014 | Other Information

Last week we saw mortgage interest rates drift downward. All the economic indicators are projecting slow growth with consumer confidence increasing in parallel with the growth. The unemployment rate remains at around 6.5% which is still less than full employment. Some key indicators for the real estate market are that housing starts and existing home sales are up and have been trending that way. With mortgage rates remaining low real estate investment should continue to increase. See current information at the Wall Street Journal Market Data...

Mortgage Broker vs. Mortgage Banker

by | Feb 5, 2014 | Mortgage Information

Below are five reasons you may want to choose a mortgage broker over a mortgage banker. Mortgage brokers have access to multiple mortgage lenders and can make sure you are getting the best rate and terms on your loan while only pulling one credit report. Mortgage lenders compete to win the mortgage brokers business. This means better all around service and can help avoid any pitfalls of the loan process. Loan guidelines change frequently and a licensed mortgage loan originator must stay informed on all market changes. The livelihood of a mortgage broker depends on the amount of loans they close so there is a much greater incentive for them to get your loan closed on time. Federal laws have been passed to regulate how much a mortgage broker can charge each borrower making sure rates and fees are fair. In conclusion, there are good mortgage brokers and mortgage bankers. Choosing an experienced mortgage broker will offer the advantages listed...

VA Approved Condos in Lee County

by | Feb 4, 2014 | VA Mortgage

    Below is a list of condo complexes that are currently approved for VA loans. Coconut Shores VI East Palms Galstonbury at the Plantation Musa at Daniels Mystic Gardens Pinewood Principia Gardens Villas Renaissance Santa Luz Seven Lakes Association Summerlin Trace Summerlin Woods Sunset Pointe of Fort Myers The Villaga Timberwood Village Townhomes at Stoneybrook Villas at...

FHA Approved Condos in Lee County

by | Feb 4, 2014 | FHA Mortgage

Below is a list of approved FHA Condos in Lee County. This is a great option for borrowers interested in purchasing a condo with less out of pocket expenses. Condo Name                           Expiration Date                                              Carriage Homes at Bell Tower             9/6/2015 Casa Di Fiori                                           7/18/2014 Eagle Ridge Lake I                                10/31/2015 Estero Beach Club East                         8/8/2014 Heatherton Manor                                11/18/2015 High Point Place                                      1/15/2016 Oaks at Whiskey Creek II                      11/12/2015 Pavilion Club                                              9/6/2014 The Moorings at Cape Coral                   9/12/2015 Valencia at Miromar...