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After Your Loan Closes
The question often comes up, “What happens to my loan after it closes? “Independent mortgage banks” almost always sell the loan into the secondary markets. Think of Sovereign Lending Group (SLG) as a toy manufacturer: factories produce toys, sell them to stores, and...
No One Can Predict Interest Rates
We’re more than halfway through 2023 and not only have mortgage rates not gone down but have risen to levels that no one predicted. The supposed experts who have been predicting an economic slowdown or recession are wrong, once again. Sovereign Lending Group’s...
Letters from Buyers to Sellers
We can’t control interest rates, or the entire U.S. economy. Federal Reserve Chairman Jerome Powell, on the other hand, has much more to say about those, and he and Fed presidents are often in the spotlight during the weeks talking about the economy. But Sovereign...
Economic News & Our Borrowers
SLG’s focus is on mortgage products, pricing, and service. There are many moving parts that go into each one of those, and all of the news in recent weeks has been on the government and economy. What’s going on out there that impacts Sovereign Lending Group’s...
Sovereign Lending Group’s Borrowers Catch a Break
How would you like to pay a different price for two cheese enchiladas at your favorite local Mexican restaurant, depending on the table you sat at, or how much you weighed, or what kind of credit card you were going to pay with? Yes, some of that exists, but the vast...
Sovereign Lending Group is Watching the Economic Tumult
When rates go up, bond prices go down, and vice versa. People who own bonds may not care if the price is going down since they don’t have to sell them , but many institutions do, including banks who own them. And in this environment, where people are second-guessing...
Jobs Data: What Recession?
Sovereign Lending Group’s clients should know that the economy in the United States is driven by housing and by jobs, and we saw the employment data last week that turned heads. And bond market investors were left wondering what impact this data will have on the...
VA Loan: A Complete Guide
A VA loan is a type of mortgage loan available to veterans, service members, and eligible surviving spouses. It is a government-backed loan that is issued by private lenders but is guaranteed by the Department of Veterans Affairs (VA). The VA loan program was created...
The Debt Ceiling and Mortgage Rates
Sovereign Lending Group prides ourselves on our service, reputation, and product line up. But that doesn’t mean, of course, that we don’t keep our eye on offering competitive pricing, mortgage rates, and the economy in general. Overall mortgage rates were down last...
Where do Mortgage Rates Come From
Sovereign Lending Group’s borrowers often wonder how mortgage rates are derived, and how prices are determined. There are two basic sets of rate and price determinants that our clients should be aware of which may clear up some of the confusion. The first set of...