{"id":10348,"date":"2022-11-24T10:03:28","date_gmt":"2022-11-24T10:03:28","guid":{"rendered":"https:\/\/loans.tiida-nissan.ru\/?p=10348"},"modified":"2022-12-08T18:42:08","modified_gmt":"2022-12-08T18:42:08","slug":"nationstar-mortgage-vs-quicken-loans-comparison-of","status":"publish","type":"post","link":"https:\/\/loans.tiida-nissan.ru\/nationstar-mortgage-vs-quicken-loans-comparison-of.html","title":{"rendered":"Nationstar Mortgage vs. Quicken loans: comparison of online mortgage providers (NSM)"},"content":{"rendered":"
With mortgage rates below 4% for a 30-year term and 3% for a 15-year term, as of April 2016, many homeowners could save thousands of dollars in interest by refinancing their mortgages into new ones with better rates. The potential savings are even greater for borrowers with adjustable-rate mortgages (ARMs) or balloon loans. Most analysts predict that mortgage rates will continue to rise rather than increase in the coming years, making early 2016 the ideal time to secure a fixed-rate mortgage at a historically low rate.<\/p>\n
Refinancing with an online lender eliminates many challenges that once accompanied the mortgage process. No need to set aside time to meet with a banker or lender in person during their office hours. You can obtain most of the necessary documents, such as z. B. Your income verification and credit report, send by email, without the need for a printer or fax machine. Best of all, online lender websites are open 24 hours a day, seven days a week. You can complete initial applications, review your paperwork, schedule your home appraisal, and complete other necessary tasks at your convenience and on your own schedule.<\/p>\n
An Internet search for online mortgage lenders will likely bring up two specific companies: Nationstar Mortgage Holdings Inc. (NYSE: NSM NSMNationstar Mortgage Holdings Inc18. 02-4. 76% Created with Highstock 4. 2. 6 ) and Quicken Loans. Both companies are major players in the industry and maintain extensive portfolios of hundreds of billions of dollars in loans. However, the two companies are not the same, as a thorough review of their history and reputation will show.<\/p>\n
Nationstar was founded in 1994 as part of Fortress Investment Group, a New York-based asset management firm that focuses on hedge funds and private equity. In the early 2000s, Nationstar had become a major player in the burgeoning subprime mortgage industry. The company enjoyed the fruits of the housing bubble until 2007, when the subprime crisis hit. In November 2007, it made headlines when it suspended mortgage origination to focus on its existing servicing portfolio, much of which was in default or underwater. Its loan balances exceeded its underlying assets.<\/p>\n
Unlike many of its subprime competitors like New Century and Countrywide, Nationstar managed to emerge from the wreckage, albeit with some bumps and bruises. A series of promising acquisitions, including Green Light Financial Services in 2013 and Real Estate Digital in 2014, have put the company back on track for growth.As of 2016, the company managed a servicing portfolio of more than $400 billion and placed it among the top five lenders nationwide.<\/p>\n
Nationstar has a penchant for riskier loans and lower credit borrowers. Its reputation on the Internet is lackluster. As of 2016, the company has an "F" rating with the Better Business Bureau with 57 unresolved complaints. Some of these complaints imply predatory lending practices, and many others accuse the company of improperly managing customer trust accounts.<\/p>\n
Quicken Loans was founded in 1985 and grew since 2016 to become the second largest retail mortgage lender in the United States. The company is the largest online mortgage lender in the U.S. This is the area the company has been focusing on, especially since November 2015 when it launched its Rocket Mortgage, a platform that allows customers to complete the entire mortgage process online or via smartphone without having to speak to a sales representative.<\/p>\n
While Quicken offers loans for certain nontraditional borrowers, such as those with credit problems or inconsistent income, the focus is on traditional mortgages, which are eligible for Fannie Mae. As a result, the company's challenges during the 2007-2009 crisis were significantly smaller and less severe than Nationstar's. Quicken's biggest problem during the crisis was getting loans from banks and hedge funds. The company dominated the 2010s, with its servicing portfolio growing to nearly $200 billion. The company enjoys a good reputation on the Internet, which is confirmed by the A-Plus rating of Better Business Bureau. In 2015, J. D. Power Quicken ranked number one for customer satisfaction.<\/p>\n","protected":false},"excerpt":{"rendered":"
With mortgage rates below 4% for a 30-year term and 3% for a 15-year term, as of April 2016, many<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n