Mortgage and Home Loan News

Not only does home ownership benefit the economy as a whole, but the social benefits provided by ownership are immense. The National Association of Realtors (NAR) reported the housing division accounted for about 14 percent of total economic activity last year. full story

Founded in 2000 by President and CEO Victor Ciardelli III, Guaranteed Rate has zoomed in the past decade to rank among the top five independent mortgage bankers in the nation. Despite the mortgage banking market throughout last couple of years, Guaranteed Rate has continued to expand and grow. The company has doubled its office network to 50 branches, entering markets such as San Diego, Las Vegas and St. Louis. In the beginning, the company had 15 employees working in a single Chicago office; today there are nearly 900 employees in 44 states. full story

Guaranteed Rate, Inc., one of the fastest growing mortgage banks in the country, announces its recent expansion to Naperville under the leadership of Stephen Speer. Mr. Speer comes to Guaranteed Rate with nearly 20 years of mortgage banking expertise and extensive experience in building highly-skilled mortgage offices. As a 17 year resident, he is widely recognized in the Naperville community for impeccable business ethics, mortgage expertise, and a strong understanding of the local lending needs. full story

Home-buying affordability remains at nearly the most attractive levels within the past decade. In addition, the Administration’s Housing Scorecard, a comprehensive report on the nation’s housing market, now tracks the impact of the Department of Housing & Urban Development’s (HUD) Neighborhood Stabilization Program (NSP). The NSP has started making affordably-priced homes available to consumers by prompting local investment, in turn making quite an impact on the market. full story

During the first three months of this year, foreclosures accounted for a third of all home sales and sold at about a 30 percent discount. The homebuyers purchasing those properties paid 27 percent less compared to sales of non-distressed homes. Home foreclosure sales include short sale properties and repossessions, transfers from borrowers to banks are not included. Bank repossessions, known as REOs, required lower prices than short sales did at 34 percent less than a conventional sale. Pre-foreclosure sales averaged 15 percent less than conventional sales. full story