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While the essential elements of shopping for a mortgage are the same for a purchase or refinance , the refinancing process usually starts with a decision to either improve your cash flow or change your debt profile, says Russ Anderson, a centralized sales executive with Bank of America in Los Angeles. He says you should determine your goal for refinancing before you meet with a mortgage professional.Once you've decided whether you want to reduce your mortgage payments or pay off your loan faster, you can begin shopping for a lender and a loan."The average consumer shops for a refinance like they're shopping for a flat-screen TV," says Barry Habib, chief market strategist for Residential Finance Corp. in Columbus, Ohio. Everyone's price conscious, he says, but not everyone does their homework to determine which product best suits their short and long-term goals.6 steps to refinance shoppingNo. 1: Start online. Deborah Ames Naylor, executive vice president of Pentagon Federal Credit Unio...
J.P. Morgan Chase (NYSE:JPM) kicked off earnings season in the financial industry with a stronger-than-expected 33% leap in first-quarter profits on Friday thanks to...
J.P. Morgan Chase & Co. (JPM) reported a rise in first-quarter profit as declining reserves for loan losses helped overcome shrinking revenue and weakness in the ban...
Wells Fargo & Co.'s (WFC) first-quarter profit jumped 22%, topping Street estimates, as the San Francisco bank reported stronger credit and controlled expenses, alth...
Traveling abroad? Don't get hit by high international ATM fees. Every time you perform an ATM transaction, you're liable to incur a fee upwards of $5.00 a pop. That ...
Bank fees and low interest rates are pushing customers to look for alternative ways of banking, but is going "bank-free" the answer?To determine if your world can do...
As the economy slowly ticks up, banks both large and small are jumping back into the small business credit markets.
First Niagara Financial Group Inc. (FNFG) is searching for a new chief executive who will increase growth at the Buffalo, N.Y., bank with few acquisitions.The move c...
First Niagara Financial Group Inc. (FNFG) is searching for a new chief executive who will increase growth at the Buffalo bank with few acquisitions.The move came aft...
Some banks have been buying longer-term bonds to boost profits in a low-interest rate environment, sparking fears their profits will be squeezed when the Federal Res...
March is Women’s History Month, a good time to assess just how far women have come as small business owners.
The world's largest banks are making progress to meet stricter capital rules aimed at ensuring they can ride out a financial crisis, the Basel Committee for Banking ...
When it comes time to pick a bank, choose wisely. The one you select could give you more than good savings account rates; it could also lead to less stress and an im...
A deepening recession and banking stress tests could find Italy's mid-sized lenders short of billions of euros, putting the state on the hook for a new wave of cash ...
In 2012, credit unions and alternative lenders were the story in small business lending. In recent months, this has changed.
Debt is often associated with poor planning or being in financial straits. But for a small business, there are times when it's smart to use debt as a financing optio...
Ronald Kruszewski, the chief executive of brokerage firm Stifel Financial Corp , received $6.99 million in cash and stock awards in 2012, according to the St. Louis-...
Almost eight of ten business owners surveyed by Manta were ‘optimistic’ about their prospects in Q2.
Small-business owners in the U.S. disagreed on the state of the economy in 2013, though slightly more thought the economy was recovering rather than contracting, an ...
Wells Fargo & Co. (WFC) saw its first-quarter profit jump 22%, even as its dominant mortgage business is seeing signs of fading and lending profitability is on the w...
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