Buying a foreclosure property below market value - Five tips from the pros

Jul 05, 2005

InterBay introduces new commercial loan featuresMortgagePress.comInterBay Funding LLC, Commercial loans In a continuing effort to provide mortgage brokers with expanded small commercial loan options, InterBay Funding LLC has announced several new changes to its existing commercial loan programs. A new 30-year amortization program has been launched, providing qualified borrowers with the benefits of more affordable monthly payments. Additionally, certain loan-to-value limits have been raised, thus enabling borrowers to qualify for higher loan amounts. InterBay is also introducing new options to reduce rates through the extension of pre-payment fee periods. "We continually strive to enhance our programs, enabling our brokers to meet the needs of their small commercial lending clients," said Karl Moisan, InterBay senior vice president and national sales manager. For more information, visit www.interbay.com.

About the author

National Mortgage Professional

Link copied

Published

Jul 05, 2005

Operations

Fairway Acquires Hallmark Home Mortgage Through Asset Purchase

Hallmark to become new Fairway division, gets access to Fairway's Fairway's product portfolio, tech, and support resources

Fairway Independent Mortgage Corporation, one of the largest retail mortgage lenders in the U.S., has agreed to acquire Hallmark Home Mortgage. Terms of the transaction were not disclosed, but Fairway will purchase “significant assets” of Indiana-based Hallmark, whic...

Regulation and Compliance

Trigger Leads Bill Clears Senate

Final push now left to House; reconciled bill needed next

The U.S. Senate has passed the Homebuyers Privacy Protection Act (S. 1467), bringing the mortgage industry one step closer to curbing the controversial use of mortgage trigger leads. The Mortgage Bankers Association (MBA) applauded the June 12 vote, which follows earlier pro...