Tag Archives: mortgage industry

Fannie Mae Wants $4.6 Billion

President Obama’s plan to allow underwater homeowners to refinance their mortgages is only going to further drain government resources to prop up the housing industry. Over the next three years, Congress will be expected to pony up another $100 billion … Continue reading

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Tightened Credit Crimps Mortgages

As the federal government reduces its role in the mortgage industry, mortgages are going to become even more expensive and difficult to get. This pullback by Fannie and Freddie in the size of mortgage loans they will buy will make … Continue reading

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Does The Mortgage Industry Lie With Statistics?

A new rule in the Dodd-Frank bill requires that banks that want to sell their mortgages must retain five percent of such mortgages. Just to insure that originators of mortgage loans keep a skin in the game. This seems eminently … Continue reading

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The Next Housing Crash

We are just one point from the worst point ever in the mortgage industry from two years ago. The average time it takes for a bank to sell a foreclosed home is now 27 months. The average was 12 months. … Continue reading

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One San Jose Mortgage Firm Thriving In Chaos

Most parts of the mortgage industry have been hit hard by the housing downturn, but some are picking their spots, hiring and growing profits. Report: Dodging the debris unleashed by a shattered housing market, RPM Mortgage powered to its most … Continue reading

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Mortgage Brokers Unhappy With Mortgage Loan Reforms

Mortgage brokers got much of the bad press for our housing downturn. They were accused of selling mortgage loans to people with poor prospects of repayment. Mortgage brokers don’t have a skin in the game of mortgage lending. They get … Continue reading

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Wells Fargo Wants Stricter Mortgage Rules

Most businesses do not want to be regulated. Banks are no exception. All of the big banks are opposed to stricter mortgage rules. But Wells Fargo has broken with its peers. Congress passed in 2010 a massive overhaul of financial … Continue reading

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How About Some Concrete Goals For Feds Plan To Reduce Foreclosures?

Millions of homeowners have been foreclosed on for lack of mortgage payments. Millions of more homeowners are underwater on their loans. There is no prospect for an uptick in home prices for at least three years. A congressional watchdog is … Continue reading

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Mortgages Are All In The Details

What’s keeping the federal government’s massive efforts to reduce foreclosure from helping more homeowners verging on default? Often the problem is a lender losing some of the necessary paperwork. Lenders have to wait for three-month trials of HARP before they … Continue reading

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Mortgage Rates Drop Below 5%

These are the lowest rates we’ve seen since May and should inspire a flood of refinances. You can find lenders advertising their low rates all over the internet, television and newspapers. Heather Best writes for Subprime Blogger: These are all … Continue reading

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