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Mortgage Refinancing Help: Agencies and Vendors
“Carefully review the estimated closing costs. If you decide to lock in the rate, the lender will send you a "good faith estimate" of your closing costs within three days. Go over the numbers carefully, and compare them to the ones that appear on the final settlement statement (the HUD-1) from your previous mortgage.
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Mortgage Refinancing Help
: Business: Financial Services: Banking Services: Credit Unions
: Agencies and Vendors (11)
 Give yourself plenty of time to close. With most refinancings, your file is turned over to a closing or title company, which dictates the closing details. Like the lenders themselves, these firms are swamped when interest rates are low. Moreover, appraisers get backed up and can be difficult to schedule. So don't expect the closing to happen as quickly as anyone promises.
 CUSA Technologies »
Provider of credit union management systems and financial services.
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 Infonancial Software, Inc »
Software, hardware, support and maintenance for credit unions
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 Co-op Financial Services »
Credit union owned EFT network and processor. Full-service payments delivery network.
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 Covera Card Solutions »
Provides electronic transaction processing options to credit unions through flexible credit, debit, and ATM programs.
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 CUMIS Group »
Financial services provider to Canadian credit unions, caisses populaires, other financial co-operatives and their members. Offerings include insurance, investment and mortgage instruments.
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 Filene Research Institute »
Examines the future of credit unions and consumer finance and analyzes managerial problems, public policy questions, and consumer needs.
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 CommonBond Communications »
Provides products and services to credit unions throughout North America.
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 Callahan & Associates »
Provides software, publications, webinars, and research.
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 Lenders Technology, Inc »
Risk management solutions in consumer lending and mortgage banking environments for credit unions.
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 D. Hilton Associates, Inc. »
Provides consultation and integrated solutions to the credit union industry featuring market research, human resources, recruiting, community charters, operations and organization.
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 AHO Consulting »
Provider of educational and consulting services to credit unions, leagues, and CUNA and Affiliates. Offerings include consulting services and strategic planning software tools.
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 Carefully review the estimated closing costs. If you decide to lock in the rate, the lender will send you a "good faith estimate" of your closing costs within three days. Go over the numbers carefully, and compare them to the ones that appear on the final settlement statement (the HUD-1) from your previous mortgage.
If you have a mortgage, you should keep an eye on rates-especially if you have an adjustable rate mortgage. Getting locked in at a lower, fixed rate can save you hundreds, possibly even thousands, of dollars over the life of your loan.
If you want to make sure the interest rate your lender offers you is the rate you get when you close the loan, ask about a mortgage lock-in (also called a rate lock or rate commitment). Any lock-in promise should be in writing. Make sure your lender explains any costs or obligations before you sign.
If you are refinancing from one ARM to another, check the initial rate and the fully-indexed rate. Also ask about the rate adjustments you might face over the term of the loan.
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