Monthly Archives: July 2011

Further Regulation On Mortgage Lending

Should banks have to determine whether or not people can repay their mortgage loans? That’s a requirement in the Dodd-Frank financial regulation bill. That sounds silly to me. Banks that make mortgage loans that are not repaid are soon going … Continue reading

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What Are Good And Bad Reasons For Buying A Home Now?

Good reasons include declining home prices over the past four years and near-record-low mortgage interest rates. Bad reasons include that home prices are likely to decline further in the next year. So why not just wait to get a better … Continue reading

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What Would A Free Market Fix Look Like For Housing Market?

This op/ed in today’s Los Angeles Times runs down all of the major ways the federal government has intervened in the housing market over the past four years. Each of these interventions has only made the situation worse. So this … Continue reading

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Cutting The Mortgage Interest Deduction To Reduce The Federal Government Debt

Among the proposals to raise tax revenues is the elimination of the mortgage interest deduction. On the face of it, this deduction seems unfair. Interest rates on student loans or credit cards or car loans are not deductible. What’s so … Continue reading

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Mortgage Rates Flat

Despite all the hubbub about the approaching Aug. 2nd deadline to raise the federal government debt ceiling, financial markets have stayed stable. Failure to raise the debt ceiling was expected to raise mortgage interest rates by nearly a percentage point. … Continue reading

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Wells Fargo Offers Free Mortgage Seminars To Those Struggling With Their Payments

When a lender forecloses on a home, he typically takes a $40,000 loss. So lenders don’t like to do this. They’d much prefer that you make your mortgage payments. If you’re having trouble making your payments, some lenders are getting … Continue reading

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MERS Reduces Its Role In Mortgages

MERS has come under a lot of criticism the past two years as banks have foreclosed on tens of thousands of homes when the exact ownership of those homes is not clear. Who owns a mortgage after it has been … Continue reading

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Mortgage Loans Remain A Threat To Bank Stability

The Justice Department under Barack Obama is still pushing banks to extend loans to select minorities with bad credit. Banks are unique among businesses. They can’t invest their money as they see fit. Instead, they have to abide by the … Continue reading

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Will Mortgage Interest Rates Rise If The Federal Government Defaults Aug. 2?

This is a much talked about topic in the news media these days. What will be the repercussions of a federal government default on its debts? What happens if the president and the Congress are unable to agree on raising … Continue reading

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Latinos Fasted Growing Home Buying Population

The Obama administration’s Justice Department is reminding banks that they must keep lending to Latinos and other minorities. Why lending is regarded as a favor makes no sense. Businesses lend money to make money. If the odds are not favorable … Continue reading

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