What Buyers Want From Lenders

Buyers often ask us what they should look for in a lender. What makes one lender stand out from the others? Lenders ask us how they can get the attention of homebuyers in an increasingly crowded field. There are some things that are undeniable truths in the market,  let’s look at them in order to help both lenders and buyers know what makes the difference.

Lenders Big & Small...Which Is Right For You?

The internet has made many aspects of home buying easier, people now have many more options and choices when house hunting and going through the closing process. Some buyers feel that going with a smaller lender for their home loan is to their benefit, but in this arena, the big guys still have  the edge.

Technology Advancement in the Mortgage Market

Technology is catching up to the tremendous amount of data we already use on a daily basis.  The mortgage industry has not typically been on the forefront of the latest in technological improvements but thankfully this attitude is changing for the better.

Forgery Using an Electronic Signature

Marilyn Olliver, Division Manager, Vice President of North American Title Company, was covering the desk of a manager out on a much deserved vacation. One of the files she worked on was a sale where the buyer obtained a FHA insured loan. The seller was out of state and had already signed all of their closing documents, and provided written and signed Disbursement Authorization Instructions for the proceeds from the sale.

Unlawful Rebates - Estoppel DFS Clarification

An updated clarification letter was issued February 11, 2016 from the Department of Financial Services to address the issue of advance payment by a title insurance agent for estoppel certificates.

Banks Loosening Credit Conditions

SETCO is hopping with excitement this Sring! According to a recent article in, 2012 will bring amend to the housing crisis due to large banks and lending institutions loosening credit conditions. While the required score to attain a mortgage loan is constant at 700, banks are now lending amounts up to 3.5 times borrower earnings. As well, banks are also loosening the loan-to-value ratios (LTV), in contrast to a low of 74 percent reached in mid-2010, banks are now lending at 82 percent LTV. Capital Economics denotes “the clearest sign yet of an improvement in mortgage credit conditions.” See full article.  As always, SETCO is ready for you! Hoppy Spring!!