Portfolio Lenders and Recasting Mortgages

Portfolio vs. conventional lenders A Portfolio Bank is a bank that lends their own funds into mortgages. They keep the mortgages in the bank and service the loans, which is a real advantage to homeowners. Portfolio lenders tend to be local banks and credit unions. A portfolio lender is able to make their own rules

No mortgage contingency. What can go wrong?

This spring, we are once again facing a market where buyers are considering waiving their rights in order to be “more attractive” to sellers in bidding wars. Here are two reasons to reconsider that. 1. Most of the time, if you have a documented pre-approval, you will get your mortgage, so a mortgage contingency is