Mortgage servicing is not always as easy as sending in your mortgage payment. It can be stressful when you deal with several different servicers or there are changes to your escrow accounts. Mortgage Servicing Definition Servicing is the act or “service” of collecting your payments, reporting mortgage payment history to credit reporting agencies, and administering [...]

Title insurance is important when buying a home since it involves researching the public record to determine you’ll have all the ownership rights once you close. The title insurance is in place in case a mistake was made in the title search and a person comes forward with a legitimate claim of ownership to your [...]

A mortgage credit score can be different than scores you get from other places. This is important since your credit score will determine what you pay. You can get an idea of your scores from other sources but until a mortgage company pulls your credit, you will not know for certain. And one point can [...]

Mortgage application anxiety is very common. You are definitely not alone when you get that first look at the mortgage application and your blood runs cold. It appears to a maze of financial data all over the page with no real rhyme or reason to any of it. There are big boxes, little boxes, medium [...]

Here is the question: T Smith asks: “Does an electronically initialed loan application entitle the lender to charge a fee if no wet signature is ever submitted? Quicken Loans is charging me $550 based on my electronic initials even though they told me I was under no obligation unless I submitted the wet signature.” My [...]

The question: “I hear a bunch of news stories about how there is a credit freeze and mortgages are harder to get these days. So, is it true that mortgage borrowers are getting denied more often now?” My Answer: In a word…”Maybe”. With the mortgage meltdown in full swing, it might seems logical to believe [...]

Melissa asks, “What are the penalties for lying on a mortgage or refinance application? Claiming that you are married…when you are not. What if the ex-wife forges the signature? What are the ramifications?” Lying on a Mortgage Application My answer: Falsifying information on a mortgage application is a form of mortgage fraud. You must know [...]

Divorce mortgage mistakes can ruin your ability to get another mortgage after your divorce. When I originated and processed mortgages, I worked with many divorcing people. You probably have the same concerns as the couples I worked with. What do you do with the current mortgage and how do you buy another home as a [...]

I’ll reprint the entire question: “I am the seller and will be paying closing costs for the buyer. On our contract with our agent she showed up to $17,000 in closing costs. We have learned that closing costs are now less that that amount. My question is - does the buyer get to keep the [...]