Sentences with phrase «insure a mortgage loan approval»
We've finished up the income and assets part of this series and will pick - up with the other parts of the mortgage application that will insure a mortgage loan approval.
http://www.flagstonemortgage.com/ Not exact matches
Because FHA insures your mortgage, lenders are more willing to give loans with lower qualifying requirements, making it easier for you to qualify (or get approval).
Recently, the agency stated that broker access to FHA products should continue by virtue their current relationships with banks and other wholesalers, saying, «It is the mortgage lender with the greatest control over the mortgage loan that should be subject to FHA's rigorous lender approval and oversight processes, and bear the greatest degree of responsibility and liability for the mortgage loan obtained by the mortgage borrower and insured by FHA.»
Faulty loan underwriting, lending discrimination, and sloppy loan approval practices cost FHA as the agency insures mortgage lenders against losses incurred when mortgage loans fail.
Eventually, lenders began to add their own requirements above FHA mortgage requirements and consumers found it more difficult to obtain an approval even for these government - insured loans.
«While mortgage brokers will continue to be able to originate FHA - insured loans through their relationships with approved lenders, they will no longer receive independent FHA eligibility approval.
Instead of seeking approval from the FHA or VA, loans could be insured by Private Mortgage Insurance (PMI) companies.