Provident Funding whacky underwriting

If you are a loan officer and you are considering sending your loans to Provident Funding beware. It seems like they are not following fannie mae guidelines and making up all kinds of crazy conditions. It's too bad because their rates are great, they are just too hard to work with now. I think they are just running scared and don't want to write any bad loans.

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The Fed Rate Cuts wont help you

Yeah the Federal Reserve lowered their rate again. That's good news for the bank and not necessarily good news for you. The Fed lowered its rates by 75 basis points yet mortgage rates only dropped by .25%. The banks make out on this. They will make more money. Also be wary of slick marketing telling you that rates have really tanked, they haven't. It's just slick advertising.

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GetPrequalified.com, Social Responsibility with your money

I will be acknowledging people out in the world making a difference. I did find a website that actually wants to help people with their finances. GetPrequalified.com is a financial education portal that wants to keep the average American out of financial trouble. Their articles paint the true picture of how money works and how to avoid the pitfalls of predatory lending.

If you have questions about money, go to GetPrequalified.com.