Tag Archives: conventional loans

The Mortgage Securitization Market Is Dead

There’s no demand to buy stocks or bonds backed up by American mortgages. As long as the mortgage securitization market remains moribund, lenders won’t have money to lend for mortgages. Currently Fannie and Freddie back up 95% of new mortgage … Continue reading

Posted in Banks, mortgage | Tagged , , , , , | Comments Off on The Mortgage Securitization Market Is Dead

The VA Streamline

A guest post by Robert from VAloansguidelines.com: With interest rates hovering near record levels, thousands of veterans and their families are taking advantage of refinancing options provided by the Veterans Administration. Even veterans who purchased their home with a conventional … Continue reading

Posted in mortgage | Tagged , , , , , | Comments Off on The VA Streamline

An $8.7 Billion Settlement With Countrywide

From Suntimes.com: Illinois Attorney General Lisa Madigan’s office helped resolve a lawsuit that alleged Countrywide put people into loans, mostly subprime loans, that the would-be homeowners could not afford. HERE’S WHY: Wall Street figured out it could lap up cash … Continue reading

Posted in Countrywide | Tagged , , , , , | Comments Off on An $8.7 Billion Settlement With Countrywide

Mortgage Insurance Returns

From Housing Wire: It’s this simple: when a mortgage exceeds 80 percent of a home’s value, the GSEs are required by charter to have credit support on the portion of the loan above 80 percent in the form of mortgage … Continue reading

Posted in pmi | Tagged , , , , , | Comments Off on Mortgage Insurance Returns

Refinance Rescue

From the IHT: Today, President Bush and Democrats in Congress are all counting on the FHA to lead the national effort to rescue homeowners at risk of foreclosure. And Montgomery, a long-time Bush loyalist who came to this job with … Continue reading

Posted in Refinance | Tagged , , , , , , , , , , , , , , , , , , , | Comments Off on Refinance Rescue

Refinance & American Home Ownership

Howard Cincotta writes: Subprime mortgages are high-rate loans for borrowers who cannot qualify for lower-interest conventional loans. During the housing boom of recent years, mortgages were sold as securities. Dreams and Homes Homeownership soared after World War II as a … Continue reading

Posted in Refinance | Tagged , , , , , , , , , , , , , , , , , , , | Comments Off on Refinance & American Home Ownership

Federal Mortgage Rescue Plan Puny

From the New York Times: WASHINGTON — Fewer than 2,000 homeowners at risk of foreclosure have been helped by a Federal Housing Administration program that President Bush promised would help homeowners who had fallen behind on their mortgage payments, federal … Continue reading

Posted in Politics | Tagged , , , , , , , , , , , , , , , , , , , | Comments Off on Federal Mortgage Rescue Plan Puny

What Is Subprime Lending?

From wikipedia: In general, subprime lending (also known as B-paper, near-prime, or second chance lending) is lending at a higher rate than the prime rate. However, in US mortgage lending specifically, the term "subprime" simply refers to loans that do … Continue reading

Posted in Subprime | Tagged , , , , , , , , , , , , , , , , , , , | Comments Off on What Is Subprime Lending?

Refinance: What Good Are All These Rescue Packages?

The House passed two such bills. The Senate is likely to pass one of its own. What’s the use of them? There’s a ton of free market criticism of Barney Frank’s bill. The WSJ blasted in this week. All these … Continue reading

Posted in Politics | Tagged , , , , , , , , , , , , , , , , , , , | Comments Off on Refinance: What Good Are All These Rescue Packages?

What Is Subprime Lending?

Wikipedia’s entry says that subprime lending is also known as second chance lending, near-prime and B-paper. It means lending at a higher interest rate than the prime rate. Only prime borrowers — those with the best credit scores — get … Continue reading

Posted in Subprime | Tagged , , , , , , , , , , , , , , , , , , , , , , | Comments Off on What Is Subprime Lending?