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The Homeowners Protection Act of 1998 requires that lenders remove private mortgage insurance when a borrower reaches a 78 percent loan-to-value (LTV) ratio. For example, if the purchase price of ...
Private mortgage insurance (PMI) is an extra monthly fee that you pay on a conventional mortgage if you put less than 20 percent down. ... you can request your lender to remove your PMI. Also, if ...
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Wells Fargo agreed to provide $50 million in direct down payment assistance to affected communities. [ 93 ] [ 92 ] In this suit, it was shown that in 2007 customers in the Chicago area who borrowed $300,000 from Wells Fargo through an independent broker had on average paid $2,937 more in broker fees if African-American, and $2,187 more if ...
Loan servicing is the process by which a company (mortgage bank, servicing firm, etc.) collects interest, principal, and escrow payments from a borrower. In the United States, the vast majority of mortgages are backed by the government or government-sponsored entities (GSEs) through purchase by Fannie Mae, Freddie Mac, or Ginnie Mae (which purchases loans insured by the Federal Housing ...
A mortgage servicer is a company to which some borrowers pay their mortgage loan payments and which performs other services in connection with mortgages and mortgage-backed securities.
Request cancellation: Once you fall below the 80 percent loan balance mark, you may request in writing to have your PMI canceled. You must be current on your payments, have a good payment history ...
Wells Fargo, San Francisco, California: Retail and investment banking $ 1.5 × 10 ^ 10 [30] October 7, 2008: Landsbanki: Icelandic Financial Supervisory Authority: Commercial bank [31] [32] October 8, 2008: Glitnir: Icelandic Financial Supervisory Authority: Commercial bank [33] [34] October 9, 2008: Kaupthing Bank E: Icelandic Financial ...