Tag Archives: new mortgage

The New Mortgage Refinance Program

Underwater homeowners with mortgage guaranteed by Fannie Mae and Freddie Mac will be able to refinance their loans under Obama’s new plan, saving themselves about a thousand dollars a year if they fill out all the paperwork correctly. Kathleen Pender … Continue reading

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Mortgage Lenders Avoid Risk

As a reaction to the profligate and reckless lending of the housing boom, since 2007 mortgage lending has been much more discriminate. “Discriminate” is a bad word to many people but I think it is a good word. I have … Continue reading

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Mortgage Lending Drops Sharply In Distressed Neighborhoods

The WSJ says: Banks understandably do not want to invest in neighborhoods that are going to pot. If homes all around are going into foreclosure, the neighborhood is blighted and banks are not interested in writing new mortgage loans there. … Continue reading

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Mortgage Interest Rates Are Not The Problem

The problem now is the overly restrictive, overly fastidious lending standards set forth by Fannie Mae and Freddie Mac. Fannie and Freddie have over-reacted to the housing crash of 2008, which revealed that lending standards were way too lax. Now … Continue reading

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What Kind Of Housing Market Disruptions Can We Expect From The Fannie Mae, Freddie Mac Downgrade?

Fannie and Freddie say their downgrade by Standard and Poors will disrupt the housing market. Currently, Fannie and Freddie buy about 90% of new mortgages issued. Freddie Mac has just asked for another $1.7 billion bailout. And they will get … Continue reading

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Banks Fight New Mortgage Loan Rules

I can’t get over this first paragraph from this New York Times’ news report: “The weight of the mortgage crisis fell heavily on lower-income and minority communities, where first-time home buyers often fell victim to the predatory lending practices that … Continue reading

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Five Reasons a Lender may Decline a Mortgage

Completing the complicated paperwork required to obtain a new mortgage for your dream home is a momentous and daunting task, only to receive that call when you are awaiting the decision from the financial institution and hearing that they declined … Continue reading

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CA’s Mortgage Fraud Strike Force

California’s Attorney General is eager to marshal all the weapons at her disposal to crack down on mortgage fraud. California has been particularly hard hit by mortgage scammers and by the housing crash. Subprime mortgages were particularly popular in California … Continue reading

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Two Prototypes For The New Mortgage Form

Most people get a little confused by the blizzard of paperwork that they have to deal with to get a mortgage. Lenders prey on this confusion. As lending is their business, they tend to know the mortgage game better than … Continue reading

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New Regulations Mean Most Folks Will Have A Harder Time Getting A Mortgage

Under Bill Clinton, standards for mortgage lending were dramatically cut to get more African-Americans into owning their own homes. The housing crash is a testimony to the wrongness of these decisions to slash standards. Now we have new regulation on … Continue reading

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