Tag Archives: downpayment

Have You Heard About The 5 Percent Retention Rule?

Bankers are warning of bankruptcy if this new law is enforced. What’s going on here? One of the major reasons for the housing crash was that people selling mortgage loans had little incentive to see that such loans were repaid … Continue reading

Posted in Banks, Foreclosure, mortgage, Politics | Tagged , , , , , | Comments Off on Have You Heard About The 5 Percent Retention Rule?

Who Makes The Rules?

Julie Garton-Good writes in her 2008 book "All About Mortgages": "A lender who wants to sell loans into the secondary mortgage market has one set of rules. If those borrowers require PMI, there’s another set of rules. In addition, local … Continue reading

Posted in Books, mortgage, pmi | Tagged , , , , , , , , | Comments Off on Who Makes The Rules?

Developers Desperation In Tough Mortgage Times

From the Independent of London: BM Solutions last week reduced its maximum loan to value (LTV) from 85 to 75 per cent of the selling price of new-build apartments, while Scarborough building society went a step further, insisting on a … Continue reading

Posted in Britain | Tagged , , , , , , , , , , , , , , , , , , , | Comments Off on Developers Desperation In Tough Mortgage Times

Is There A Good Side To Dropping Home Prices?

My Shabbats used to be ruined by sitting at someone’s table and listening to them moan about the high price of Pico/Robertson real estate and how they had to sell off their first-born child to make their downpayment. Just imagine … Continue reading

Posted in Appraisals | Tagged , , , , , , , , , , , , , , , , , , , | Comments Off on Is There A Good Side To Dropping Home Prices?

Refinance Mortgage Demand

CHICAGO (Reuters) – A new policy on mortgage down payment requirements from Fannie Mae (FNM.N: Quote, Profile, Research) is "sound," and could help unleash pent-up demand, James Lockhart, director of the Office of Federal Housing Enterprise, said on Friday. "There … Continue reading

Posted in Refinance | Tagged , , , , , , , , , , , , , , , , | Comments Off on Refinance Mortgage Demand

Charlotte Bank Burned By CA’s Real Estate Turndown

Two years ago, Wachovia was boasting about its move into California’s real estate market. Now the Charlotte-based bank is tightening its lending practices (effective April 26). It’s been burned by the subprime crisis. What’s the truth? Will Wachovia survive in … Continue reading

Posted in Bad Credit, Bankruptcy | Tagged , , , , , , , , , , , , , , , , , , , | Comments Off on Charlotte Bank Burned By CA’s Real Estate Turndown