Wells Fargo Mortgages: Niche Financial Services

2007-03-08 10:33:40

( Financial )



SOCIETY OF LENDERS

Because our society is propelled by an intricate system of lendings and borrowings, it is no surprise that the lending industry is a very big business. With so many banks and lending institutions crowding the market, all peddling their financial products and services, it can really be a daunting task to make a selection.

When you are about to make a choice as to what lending company to go with, the main consideration is the type of financial product or service that you need. For instance, some banks are known for their mortgage services like Wells Fargo mortgages and Bank of America mortgages.

EXAMPLES OF NICHE SERVICES

Wells Fargo mortgages have been in the business for quite some time now, backed by the company’s long history as a leading financial services provider. Also famous for its student loan services, the longevity and popularity of Wells Fargo mortgages speaks well of its status as a mortgage provider.

Bank of America is equally established as a mortgage provider as well. A Bank of America mortgage is different because of the HIBOR or Hong Kong Inter-Bank Offered Rate. A HIBOR mortgage is a loan where the interest rates changes on a daily basis.

To protect your loan from high interest movement a Bank of America mortgage has a cap on how high the interest rates can go regardless of the HIBOR trend. A Bank of America mortgage only follows the HIBOR downtrend. Hence, a Bank of America mortgage can take better advantage of low interest rates movement.

Another company with long-standing reputation in the market is American General. Their financial servicing arm is called American General financing. There are several types of American General Loans that you can avail of, but their main product line is real estate secured loans like home equity line of credit and cash back loans.

If you are planning to sell your existing mortgage, American General financing may also have the right service for you. American General financing also offers partial mortgage purchase and full mortgage purchase programs which caters to those looking to sell their existing mortgage for some reason or another.


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