| JD Power and Associates Reports: Wachovia Ranks Highest in ...
WESTLAKE VILLAGE, Calif., July 18 /PRNewswire/ -- For a second consecutive year, Wachovia ranks highest in satisfying customers who recently obtained a home equity loan or line of credit, according to the J.D. Power and Associates 2007 Home Equity Line/Loan Origination Study(SM) released today. (Logo: http://www.newscom.com/cgi-bin/prnh/20050527/LAF028LOGO-a) Now in its second year, the study measures customer satisfaction with home equity line/loan lenders. Three factors are examined to determine overall satisfaction. They are, in order of importance: closing process (36%), loan officer/representative or banker (34%) and application/approval process (31%).(1) The study finds that highly committed customers are four times more likely to stay with their current home equity lender and three times more likely to recommend their lender to friends and family than customers with moderate and low levels of commitment.
Home Loan Interest Rates vs. Mortgage Interest Rates
Take into consideration the debate between home loan interest rates vs. mortgage interest rates before you even think about making a down payment on your future home. If you were to go into your bank to inquire about purchasing a home, you would be greeted by a bank loan officer. A bank loan officer works for the bank and tries to sell their employers loans and mortgages. With a good credit report, it should be relatively easy for you to get a home loan straight from your bank. This works much the same way as it would if you were to obtain a personal loan or auto loan. The only difference is the amount lent is much higher. Continuing the debate between home loan interest rates vs. mortgage interest rates, mortgage brokers do not have a specific employer. These brokers work freelance to try to find you the best loan or mortgage possible from a wide array of lenders.
Get a Quick Payday Loan and Bid Farewell to Your Money Crisis
Are you facing a major financial crunch? Do you have a huge medical bill to pay and no cash in hand? Whats more, there is still time for your paycheck to arrive. So, what do you do? Simple: Avail a quick payday loan to get instant cash advance. Why are these loans called instant? You can apply for a quick payday loan by applying in person, on phone, or even online. With such easy access to applications of these loans, you can get the request amount within an hour sometimes. This is why these loans are called instant or quick payday loans. The processing time of a cash advance or payday loans is very small. This is because unlike other loans, your credit history is not checked. So, people with an unimpressive credit record can also get the best payday loan. Another reason, why you can get a quick and easy payday loan is that to qualify for this loan you do not have to go through the hassle of interviews with loan officers, nor do you have to immerse yourself in rubble of excessive paperwork.
Countrywide Home Loans Launches It's Your Choice Mortgage Campaign
CALABASAS, Calif., July 23 /PRNewswire/ -- Countrywide Home Loans today unveiled a broad national initiative designed to educate mortgage consumers about the fact that they have many options available to them regarding how certain costs are paid when refinancing or obtaining a home loan, no matter which mortgage lender they choose. Countrywide is arming its more than 9,000 loan officers and mortgage sales force with new and improved tools, such as specialized mortgage cost calculators, that will allow them to thoroughly and transparently show customers cost-effective choices for structuring their home loan packages. To understand how strongly consumers feel about the issue of choice versus a one-size-fits-all mortgage, Countrywide commissioned a national survey of more than 2,280 homeowners.
Michelle Richards-Phillips Breaking barriers
If one wants to know how to get a first home in the United States with less than US$5,000 in hand, then award-winning Bank of America mortgage officer Michelle Richards-Phillips is the one to show you how. She will, if you ask, also tell you how to keep a positive attitude when others consistently tell you that you can only fail. After all, that is how this Jamaican got her own home, after landing in Florida as a single mom. Holding down two jobs so that she could provide for her child and pay the mortgage for her home back in Jamaica, Richards-Phillips displayed a can-do attitude which not only secured her own property, but has also propelled her through the ranks of her peers at the Bank of America. Richards-Phillips, mortgage loan officer and vice-president of Bank of America Mortgage, closed $34 million in loans in 2006 to qualify for the Chairman's club.
Panel Examines Katrina Disaster Loan Response, Initiatives for ...
WASHINGTON, July 25 /PRNewswire-USNewswire/ -- Today, Senator John Kerry (D-Mass.) chaired a hearing to examine the Disaster Loan program run by the Small Business Administration (SBA) one month before the two-year anniversary of Hurricane Katrina. The Committee on Small Business and Entrepreneurship heard from former SBA loan officer Gale Martin and SBA Inspector General Eric Thorson about charges that staff improperly cancelled already approved loans, forced loan withdrawals, or disbursed loans without the homeowner's or business owner's consent. Kerry and Senator Mary Landrieu (D-La.) pressed for full Senate passage of their bill to overhaul the program. "I'm gravely concerned both by the allegations made by Ms. Martin and her colleagues and by Mr. Thorson's findings," said Kerry.
South Pacific Financial Eliminates Loan Rate Sheets
VISTA, Calif.--(BUSINESS WIRE)--Lender E-Source, which provides loan guidelines and automated loan pricing to mortgage professionals, announced Rancho Cucamonga, Calif.-based South Pacific Financial Corp. implemented Loan Library and Electronic Loan Finder (ELF) to improve loan product searches for loan officers through a continually updated and customizable loan database. Lender E-Source's database enables simplified loan product searches in an efficient Web-based loan suite. In tandem, Loan Library and ELF enable South Pacific Financial to eliminate time-consuming maintenance of loan guidelines, while quickly locating loans that best fit borrower needs, increasing the likelihood of closing the loan. "We had a full-time person on staff who spent a lot of their time producing product matrices and information for our sales staff," said Mike Delehanty, senior vice president of South Pacific Financial.
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