Benchmark Mortgage - Blog

                              The 2007-2008 NCAA Football season kicks off 8/30/07 with a Thursday night game between LSU and MSU at MSU in Starkville, MS.  USA Today ranked LSU at #2 in the nation in their pre-season rankings, and some predict that LSU will play USC for the National Championship...

I just received notifcation that Taylor, Bean & Whitaker, a conforming & Alt-A lender, has completely removed all Alt-A programs and 2nd liens from their product line.In addition, Homecoming Financial has removed all Alt-A products with credit scores below 660.Finally, First Magnus Financial has ...

Looks like Accredited may finally give up the ghost.  See below, from Bloomberg.com: Accredited May Face Bankruptcy, Merger in Doubt (Update3) By Bradley KeounAug. 2 (Bloomberg) -- Accredited Home Lenders Holding Co., the subprime mortgage company being acquired by Lone Star Funds, cast doubt on ...

Eliminating Private Mortgage InsuranceFor loans made after July 1999, lenders are required by federal law to automatically cancel Private Mortgage Insurance (PMI) when the loan balance falls below 78 percent of your purchase price - not when you achieve 22 percent equity, which will happen much m...

Are you pre-qualified or pre-approved for a loan?Before you begin to shop for a new home, you should set up a time to meet with us so we can figure out how much you can afford. This will put you in a better position as a buyer. That's when it is important to understand the distinction between bei...

And another giant falls.  Here's the link:  http://biz.yahoo.com/rb/070726/wellsfargo_nonprime.html?.v=1I hate to see it - I've had great success with Wells Fargo subprime over the years.  They eliminated the 2/28 product earlier this week and several other lenders followed suit.  I believe the 3...