Rates on 30 years mortgages remain above 6%
05/08/2008
Though down slightly from a week ago, mortgage rates remained above 6% for the 3rd consecutive week according to Freddie Mac. The Mortgage giant reported that 30 year mortgages average 6.05% this week, down .01% from last.
New Home Sales Drop, State Guide Update For Mortgage Brokers
04/24/2008
More bad news for mortgage brokers and bankers as The Commerce Department reported today that new homes sales dropped 8.5% last month, representing the lowest level (slowest pace) in over 16 years. On top of this came news that the median price of new home sales dropped by the largest amount in almost 4 decades, the [...]
The Mortgage Banker Bond, or Mortgage Lender Bond, guarantees that the banker will operate by the terms and conditions of the stat in which they are operating. Though many states use the same bond form for mortgage brokers and mortgage bankers, often time´s states require a larger bond for the lenders.
Bonding companies are writing mortgage broker, and mortgage lender, bonds in much more liberal manner then any other commercial surety bond. Rates for these bonds can very drastically between bonding companies and that is why it is critical to obtain an agent that has a firm understanding of the current mortgage banker bond market.
Bryant Surety bonds, Inc. has intimate knowledge of the mortgage lender bond industry and several specialized programs for this bond. For those who are considered a risk because of their credit, and having a difficult time being bonded, our agency has a solution: our Bad Credit Surety Bond Program. This program is available for the Mortgage Banker (lender) Bond.
