Factors of Mortgage Refinance

[elina]

Hi Folks,

Creation of loan programs allowing borrowers to attain 100% financing, and min. monthly payments loans, allowed many borrowers to get into a situation that reality would tell you to run for the trees. Because of the misuse of mortgage programs by both the banking industry and the borrowing public; risk has been put back into the equation when underwriting a loan. It has moved to an extreme though. Normally A paper borrowers would sail through the approval process with limited questions or documentation. Fewer loans are being funded. Loan processors, and loan originators are being held to strict standards in placing loans to banks, and disclosing the loan program to borrowers.


Cheers,
Samantha
http://www.mortgages-expo.com/fha-refinance.html