The OFHEO stipulation below takes them out of most bubble ...A Mr Mortgage reader and one of the ‘good-guy’ brokers out there, Aaron Terreri of Blue Coast Home Loans in CA recently sent me this break down on what RMIC will now do. Online mortgage applications are quick. An online application form takes about four minutes of your time filling it up. Approval can then be given within 24 hours. This is a far cry from the several business days it usually takes for traditional mortgage applications to be approved. In this regard, online mortgages are less time-consuming and even initially paper-free.
