Who are Mortgage Lenders?

Mortgage lenders are borrowed short and lent long, which is the essence of the carry trade. Mortgage lenders are more skeptical about doing 100% financing, because many of these loans are the ones going into default. Mortgage lenders are sometimes unsure how to treat the effect of capital repayments and overpayments. Confusingly, a mortgage can still be under funded even if – because the customer has made capital repayments or extra monthly payments – it is actually on course to be repaid before the end of the original term.

Mortgage lenders are surveyed from Thursday to the following Wednesday. For borrowers, it is a great barometer of recent mortgage loan rates. Mortgage lenders are reluctant to staff up too much because they have to invest a lot of money and time in training workers. Once they work through the body of foreclosures (millions though it may be), they figure they won't need that many workers and would have to lay them off.

Mortgage lenders are belatedly applying more stringent lending criteria for homeowners that wish to borrow money. Until the negative property price trend reverses, only those with good credit scores, at least 5 per cent home equity and stable employment are likely to be accepted. Mortgage lenders are in the business of lending people money to put them in a home. While this helps homeowners, the lenders do not do this out of the goodness of their heart. Mortgage lenders are financial institutions which offer mortgage loans to people who wish to purchase property. The lender uses its assets to offer loans, relying on borrowers to repay their loans over a fixed period of time.

Gurmit Singh is a licensed mortgage expert with Dominion Lending Centres Mortgage Villa. Being a real estate investor himself, he understands the needs and challenges of the investors, he specializes in serving their needs. Gurmit is well experienced with commercial and residential mortgages.

Gurmit Singh
Mortgage Expert
M08009905
Dominion Lending Centres Mortgage Villa (11574)
Email:gurmit@gurmitsingh.ca
Website: http://www.gurmitsingh.ca