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Question by Brandon E: Can troubled morgage companies call in their mortgage loans?
I’m current on my note. This is just a general question. I know about foreclosure for non-payment. I’m asking a hypothetical question. Can a mortgage company arbitrarily call in their home loans anytime they want and for any reason? or under what circumstances can they call in a mortgage loan, other than default?

Best answer:

Answer by acermill
They cannot call them in as long as you honor your terms of the agreement. A mortgage is a contract, and both sides are required to honor the terms of same.

Know better? Leave your own answer in the comments!

National Association of Loan Officers Meets With HUD To Advocate Licensing for Loan Officers

Tallahassee, FL (PRWEB) July 13, 2006

A delegation from the National Association of Responsible Loan Officers (NARLO), the trade association of mortgage loan originators, saw with lawmakers in Washington, D.C., to discourse loan officer issues on June 28. NARLO was corresponded by Ella Gurfinkel of Executive Financial Solutions Inc., Portland Ore.; Christopher Cruise, Baltimore, Md.; and Robert Skrob, NARLO executive director.

The highlight of the group’s trip to Washington was its meeting with Brian Montgomery, Federal Housing Administration commissioner and assistant secretary for housing at the U.S. Department of Housing and Urban Development (HUD). The representatives from NARLO were joined by John L. Garvin, senior advisor; Lily Lee, deputy assistant secretary for single family housing; Phil Murray, associate deputy assistant secretary for single family housing; and Margaret Burns, director, Office of Single Family Program Development.

“The members of the National Association of Responsible Loan Officers are fed up with mortgage loan fraud and the low barriers to entry into the mortgage industry,” said Skrob. “For NARLO members, minimum licensing standards are not acceptable. We must clean up our industry, and to do that we must require all entrants into our industry to undergo a minimum of 40 hours of training, testing and background checks.”

The National Association of Responsible Loan Officers represents the 400,000 mortgage loan originators throughout the country that are employed by mortgage brokers. NARLO fights mortgage fraud by advocating stricter standards for loan officers and through public education.

The National Association of Responsible Loan Officers provides a free web seminar titled “The Newly Discovered Secret Weapon That Turns Rate Shoppers Into Closed Deals for Less Than the Cost of a Grande Latte, Guaranteed.” Visit http://www.NARLO.com.

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, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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Anonymously Shop Mortgage Loans

Hermosa Beach, Calif. (PRWEB) October 4, 2006

A new website has been designed to offer mortgage consumers the ability to shop mortgage home loans anonymously. LAL Enterprises, Inc. has announced the official launch of http://www.LoanAgentsLive.com a chat based mortgage “shopping mall” with instant live access to over one hundred mortgage companies.

The website is different from typical mortgage websites, because a visitor is actually communicating live with a professional mortgage consultant. One click and the visitor can chat live with a loan consultant from the brokerage of their choice.

When a customer visits LoanAgentsLive.com, they select a state to find lenders licensed to serve them. A link next to each company’s display ad indicates whether a loan officer at the brokerage is available to chat.

It appears to be a successful approach as more and more consumers are reluctant to give out their phone numbers and personal information via online applications. Based upon preliminary results from a beta test conducted by LAL Enterprises, Inc., consumers are over 4 times more likely to initiate a chat with a mortgage consultant then fill out an online application.

Chat technology allows consumers the ability to “test the waters” without having to provide their phone number or e-mail address. Consumers also have the option to switch to a phone conversation with the same loan consultant at anytime they wish during a chat.

Offering live chat to mortgage consumers is a newer concept, but some industry giants already have implemented it. According to The Washington Times, live chat helped increase Bank of America’s online mortgage sales by 800 percent in the first quarter of this year, compared with one year earlier.

It’s good news for Bank of America and their “good credit” customers, but what about other mortgage consumers? Those that can’t qualify for a traditional loan or those that what to shop companies and ask around.

According to the President of LAL Enterprises Inc., Aaron Quick, that’s what makes LoanAgentsLive.com so unique. Quick stated, “Having the ability to shop, ask, and get answers from multiple mortgage companies offering all types of mortgage loans and services, all on one site, live and anonymously; that’s what makes us appealing to consumers.”

To ensure the safety of visitors to the website all chats are done over a secure server. LoanAgentsLive.com also conducts background checks and personal interviews with all listed brokerage firms to exclude those with a history of predatory lending. For more information please contact Patrick Bliesener at 310-374-7896 or visit http://www.LoanAgentsLive.com

About LoanAgentsLive.com:

Offering mortgage seek consumers a simple and untroubled way to chat, in real-time, directly and anonymously with a Loan Consultant from the Lender of their choice.

Chat, Choose, Win!

Patrick Bliesener

LoanAgentsLive.com

877-638-3869

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, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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ABT Announces New Low-Cost Software Solution for Loan Origination Tracking

Folsom, CA (PRWEB) February 3, 2005

Access Business Technologies, provider of innovative web-based software solutions for the mortgage industry, has announced the development of a new product that allows mortgage lenders to track new loans at a greatly reduced cost.

“We’ve found that many lenders don’t start tracking lend until they’re entered into the system by the loan processor. This is because tracking software has traditionally been too expensive for some lenders to buy copies for each loan officer. This results in the loan processor duplicating work done earlier by the loan officer,” says Justin Kirsch, President and CEO of ABT.

Kirsch says lenders are losing money because they’ve had to continue to rely on inefficient manual processes. Also, they don’t have an accurate picture of their loan pipeline because of the delay in getting loans into the system.

“AccessPoint™ lets you see the loan status using your existing software as soon as the loan officer completes the application. Everyone from the processor to the manager can see the loan immediately. This includes parent companies who want to keep better track of their net branches. And, it’s available for around $ 19.95 per loan officer per month,” says Kirsch.

AccessPoint works with ABT’s DecisionPoint™ software as well as other industry-standard applications used by loan processors and managers, such as CalyxPoint and DataTrac. Loan applications are transmitted easily from the loan officer to a central database and the loan processor is immediately notified and has access to the loan application, using ABT’s web-based user interface.

Kirsch says that using AccessPoint will save time that is currently being wasted. “In many mortgage brokerages, loan officers complete the application, print it out, and fax it to the loan officer. The loan processor then re-enters the same information into another system. Meanwhile, loan officers spend too much time following up on faxes and checking loan status. Because AccessPoint gives the processor immediate access to new loan applications, the entire loan process is faster and each processor can handle more loans.”

AccessPoint gives loan officers access to their own loan pipeline from their desktop. They can provide customers with immediate loan status, saving time and telephone calls.

AccessPoint is a real-time solution that eliminates many of the manual processes used to transmit information between loan officers and loan processors.

Mortgage lenders who have affiliated NetBranches can use DecisionPoint and AccessPoint to track all of their pending loans using a single integrated software product. Lenders who now use DecisionPoint for their loan processors can add AccessPoint for their loan officers for a minimal cost, making it an ideal solution for small- to medium-sized mortgage lenders who want to speed up the loan origination process.

Interested parties can obtain a more information about AccessPoint from the ABT website at AccessPoint.MyABT.com.

About ABT

Access Business Technologies hosts industry-standard mortgage processing software over the Internet, enabling banks, credit unions, mortgage servicers, and housing authorities to automate the entire mortgage lending process. For additional information, contact Tim Rost at 888-636-5426, or e-mail info@myabt.com. Visit ABT’s website at http://www.The-Mortgage-Experts.com.

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©Copyright 1997-

, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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Mortgage Loan Center Launches Consumer Based Web Site

San Diego, CA (PRWEB) June 24, 2007

Mortgage Loan Center is proud to launch its new website, which is dedicated to providing consumers with the most comprehensive set of mortgage tools, loan quotes, rates, articles and advice available online. Mortgage Loans IC is a borrower based website for anyone looking to find great mortgage loan rates or simply for those who want more information on an adjustable rate mortgage, refinance loan, etc. The Mortgage Loan Center site strives to be an one stop shop for any and all mortgage loan needs.

Mortgage Loan Center’s newest site is a leading online lending and mortgage service provider that empowers consumers to find some of the best available rates and lending services. Whether consumers are looking to refinance their existing loan, find a new home loan, or locate a realtor in their area, mortgageloansic.com is the only resource that consumers need.

Mortgage Loan IC allows consumers to select from up to four competitive loan offers from some of the most respected mortgage lenders across the country. Whether borrowers are looking for a home loan in California, Florida, Texas or another state, we match borrowers with some of the lowest mortgage rates and best offers. All of our services are absolutely FREE and there is no obligation with any of our lenders.

Our site is focused on helping consumers find the best mortgage loans, refinance rates and home equity loans. Because our site goes out to numerous lenders who compete for their loan, consumers stand the best chance of receiving the lowest rates possible!

We are a consumer or borrower focused site and are always looking to expand our range of services that we provide. If there is information or services that consumers would like to see added to our site, simply email us and we will work to provide all of this information.

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©Copyright 1997-

, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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CentralLoanCenter launces the Best Rate for Home Mortgage Loan . Apply Now!

(PRWEB) March 17, 2004

Home Mortgage Loans: Which one do you need?

Looking for the home of your dreams? With rates at near historic lows, your dream may be closer than you think! At Central Loan Center we offer the best Home Mortgage Loans ever. Our scientifically designed processing structure makes our Home Mortgage Loans the easiest to obtain. When we designed our Home Mortgage Loan Quote Process we kept your interests in mind and made it surprisingly simple. Our ever caring staff is just a quote away to help you in getting you a Home Mortgage Loan with minimum effort on your part.

Leaders in Home Mortgage Loan Quotes

We feel proud in claiming that Central Loan Center is one of the best Home Mortgage Loan Quote Companies in the United States. We keep the interest of our clients as our number one priority. Most of our clients say that Central Loan Center is the most customer friendly Home Mortgage Company they have ever come across. Whenever you think of a Home Mortgage Loan Quote Company, think CENTRAL! Central will never fail in understanding your needs!

Go Online! Home Loan for Home loan Quotes

Looking for fastest Online Home Mortgage Loan Quote?

We believe in the old saying, “Time is Money”. Central Loan Center has adapted to the latest technologies and provides the best on-line experience with one of the fastest Home Mortgage Loan online Processes. For a hassle free Home loan, log on to the best Home Mortgage Loan Quote Companies online – Central Loan Center. Fill out our simple questionnaire for a fast online assessment. You will be surprised at our promptness when we get in touch with you in no time with the best possible home loan options – customized to your requirements. Our professional partners in the industry make Central Loan Center the most efficient & friendliest Home Mortgage Loan Quote Companies online. Apply today for home mortgage loan and you will experience our total commitment. No doubt; Central Loan Center is again hailed as one of the leading Home Mortgage Loan Quote Companies online.

log on to http://www.centralloancenter.com

©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

BD Nationwide Mortgage Offers a Convertible Home Equity Line of Credit with Options to Refinance Portions to a Fixed Rate Second Mortgage Loan

Encinitas, CA (PRWEB) August 29, 2006

BD Nationwide Mortgage introduces a smart home equity loan that can separate into several loans with both fixed and adjustable rates. BD Nationwide has released a new home equity product that boasts of a convertible home equity line of credit offering options for turning variable interest rates into fixed rate second mortgages. BD Nationwide proudly presents the “Fixed Rate HELOC Conversion Program.” This unique home equity program allows homeowners to convert portions of their adjustable rate equity line into fixed rate home equity loans. Another key feature is that these second mortgages allow you to keep the unused portion of the home equity line open, while fixing the interest rate for the specified portion. In that sense, the HELOC splits into two loans. (one loan is a fixed lump-sum loan and the other is an open end line of credit)

Conversion options are available to convert a portion or all of the home equity line balance to a fixed interest rate home equity loan. This program allows you to convert HELOC portions to fixed rate loan eight times during the draw period.

Advances for fixed second mortgage rates can be requested at anytime during the ten-year draw period: Three fixed rate advances may be open at any one time. The conversion feature limits you to a total of eight fixed rate advances may be requested over the draw period. In addition, there are no lending fees to convert to a fixed rate. Loan advance options are based on the balance requested.

Lynda Nelms, a Sr. Loan Officer and Mortgage Consultant at BD Nationwide, said, “This is a progressive loan that allows my borrowers to be savvy using their home equity when they see fit, while converting adjustable rate interest into a fixed rate second mortgage with a simple interest amortization.” Nelms continued, “These days I find homeowners need cash out for debt consolidation or home improvements, but they already have a large second mortgage.”

The Fixed Rate HELOC Conversion Program enables our clients to refinance and convert their existing line of credit into a fixed rate second mortgage, while opening up an additional revolving credit line they can access later. This home equity conversion loan is a great solution for the recent dilemma of refinancing jumbo home equity loans that seem to be so common with million dollar homebuyers. BD Nationwide Mortgage Company has partnered with many of the nations leading home equity lenders.

Home Equity Line of Credit Draw Period : 10 years
Second Mortgage Rate is a Variable Rate ( WSJ prime interest rate index plus margin)

Home Equity Loan Terms: 15, 20, 25 or 30-years
Second mortgage rates are fixed interest rates (fixed interest based on market conditions on the conversion date)

Home Equity Loan Repayment Terms:
Borrower may request a fixed rate advance from the customer pitied dept. after the lender funds the loan.

Fixed Rate Advance Option: Fixed-rate advance options can initially be requested by loan officer at the time of disclosures.

To learn more and get additional loan information, please visit: Second Mortgage & Home Equity Loans

About BD Nationwide Mortgage Company:
BD Nationwide Mortgage is an indorse mortgage broker with corporate headquarters in Encinitas, California. They specialize in refinance, home equity loans and credit lines for homeowners seeking debt consolidation or cash out. The company focus remains solidifying with second mortgages for people with all types of credit. Always striven to hook “divulge of the box” loans, BD Nationwide Mortgage is set to help expand financing solutions so more Americans can maximize the financial rewards of being a homeowner.

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©Copyright 1997-

, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

MortgageSaver Saves “Your Dream Mortgage” Attendees Tens of Thousands of Dollars on their Mortgage

(PRWEB) May 7, 2005

Mortgage Saver joins MortgageWing.com to bring substantial savings to the attendees of “Your Dream Mortgage” 2005 at the Pomona Fairplex on Saturday, May 21st. With Mortgage Saver’s Bi-Weekly Payment Plan, the borrower will accelerate the payoff of their home loan reducing the number of years to pay off the loan, lower the effective interest rate will save thousands of dollars in interest. At “Your Dream Mortgage” borrowers will be able to include the enrollment fee of $ 395 in their closing cost making it easier to add this option to their new loan.

The Mortgage Saver plan is open to anyone with a mortgage, including investors. Plus, you don’t have to wait until you have a new mortgage to use this plan. You can begin the plan at any time. Warren Croyle, vice-president of sales states, “Mortgage Saver offers a “one-time only” enrollment fee. This means that if the borrower refinances, moves or if the loan is sold, Mortgage Saver will simply take them off the system and put them back on with the new loan information.”

Through Mortgage Saver, the borrower’s payments are made electronically, so that the borrower will not have to write a check or remember their payment. Every other Friday, Mortgage Saver will automatically debit one-half of the mortgage payment from the account the borrower designates. By paying half of a mortgage payment every two weeks, instead of once a month, a borrower will make one extra payment over the course of a year. Additionally, this program allows a borrower will make an additional half payment every six months to significantly shorten the life of the loan. “Mortgage Saver saves time and money, we like the hassle free payments and the friendly customer service.” says customer Ji Hong of Alhambra, CA.

About Mortgage Saver

Mortgage Saver is a division of AutoLink Payment Services. They began providing Bi-Weekly payment processing in 1996. As a leader in payment processing and Bi-Weekly Payment Services their goal is to help consumers save thousands of dollars in interest on their mortgage. Most consumers pay their lenders 3 to 4 times the amount borrowed. As a third party administrator, acting in a fiduciary capacity, they collect and remit funds.

About MortgageWing.com

MortgageWing.com is focused on cutting through the red-tape of the mortgage process. MortgageWing.com also educates borrowers on the mortgage loan process through seminars. The Company’s name comes from the MortgageWing.com’s desire to keep borrowers under their protection and in their care. MortgageWing.com’s mission is to educate all borrowers, have friendly service and aid the processing of their loan. MortgageWing.com is based in Rancho Cucamonga, California.

MortgageWing.com is a marketing and promotions company. MortgageWing.com is not a lender. MortgageWing.com does not make loans or credit decisions in connection with loans, nor does MortgageWing.com issue commitments or lock-in agreements.

To find out more about the event, logon to http://www.mortgagewing.com.

To pre-register now, go to: http://www.mortgagewing.com/padmission.html.

For questions, concerns or comments about “Your Dream Mortgage” please contact MortgageWing.com by email info@mortgagewing.com, by telephone 909-563-8315, or by facsimile 909-822-4480.

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©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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Question by *MacDaddy*: What is a Reverse Mortgage and are they good loans?
My neighbor told me about these reverse mortgage loans and I wanted to ask here if this a safe way to get some cash out of my home.

Best answer:

Answer by InfoDoc
A reverse mortgage is a really great thing if you have lots of equity in your home, and you don’t have very much liquidated cash to enjoy your retirement. Anyways, you can find info and resources about reverse mortgages here:http://reversemortgageresource.blogspot.com________________

What do you think? Answer below!

Question by Ram: I am planning to buy a home outside the United States, I am wondering if I can get mortgage loans or personal?
I am planning to buy a home outside the United States, I am wondering if I tin get mortgage loans or personal loans here in the US. If so who should I reach. Please advise. Thanks.

Best answer:

Answer by ZinaRae
Yes. Depending on what country. You’ll have to research the brokers who handle out of country loans. There are actually quite a few of them.

Give your answer to this question below!