Category Archives: Applications

Mortgage Applications Fall 11%

They keep dropping despite interest rates near zero. The refinance boom has gone bust. What further tricks might the Fed have up its sleave? I suspect they’re running out of money and interventionist steam. The LAT says: “Although rates remain … Continue reading

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Mortgage Applications Drop Again

Despite massive government intervention to subsidize the buying of homes with generous tax credits, applications for mortgages keep dropping. This now includes refinance applications. All this comes while interest rates are at near record lows. It seems that despite large … Continue reading

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New Regulations To Promote More Accurate Lending Risk

Credit rating agencies were spectacularly wrong in the past few years when they tried to assess the worth of mortgage-backed securities. When thousands of home owners can no longer afford to send in their monthly mortgage payments, all the fancy … Continue reading

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LAT Astounded By B of A’s Refusal To Refinance

LAT consumer correspondent David Lazarus claims the housing crisis was caused by banks eagerness to loan money. Now they’ve turned skinflint. Well, banks were burned. They were forced by politicians and regulators to lend to a lot of people, particularly … Continue reading

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Mortgage Applications Fall Despite Low Interest Rates

We have the lowest mortgage interest rates in four months, yet there’s been a fall in mortgage applications. The housing market appears nowhere ready to recover from its three-year decline. Banks own thousands of homes they’ve foreclosed on that they … Continue reading

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Obama’s HARP For Distressed Borrowers

This program is aimed at borrowers who have not missed a mortgage payment. It is different from earlier government programs aimed at those who were late on their payments. Those plans offered mortgage modification so people could have lower monthly … Continue reading

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Mortgage Loan Rates Fall

Mortgage applications are down too. This is the first time since July that loan requests dropped for the first time six weeks. The housing market has apparently stabilized after three years of plunging prices. This was the steepest plunge since … Continue reading

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Paperwork Avalanche Overwhelms Refinance Applications

Politicians talk a lot about plans to modify mortgages so fewer people default, but these plans depend on so much paperwork, that few people are having success with them. The Obama administration came up with a $75 billion program to … Continue reading

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Refinance Applications Slump

The great refinance boom of 2009 may be over. Apps are down 8%. Rates are edging lower. Reuters says: U.S. mortgage application demand slid to the lowest level since mid-March, driven by a drop in requests to refinance loans even … Continue reading

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‘American Mortgage’ By Trevor Rhodes, CEO of AmerUSA

This is a solid new book from McGraw-Hill. I particularly liked the section on the top five borrower blunders: * Applying for more credit while waiting for your mortgage to close * Stopping payment to your current lender while you … Continue reading

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