Posts Tagged ‘lender’Are Housing Fundamentals Still Deteriorating?This post first appeared on Minyanville. There’s a good amount of buzz surrounding the Wall Street Journal’s piece on the staggering number of homeowners underwater on their mortgages. This, on the same day the Case-Shiller Home Price Index posted its fourth consecutive month-over-month increase. Mixed signals? Possibly. But in reality, these two seemingly disparate data [...] Homebuyers Crash Into Appraisal RoadblockBy ANDREW JEFFERY This post first appeared on Minyanville. Mortgage guidelines have become increasingly strict — not to mention regimented — as the private secondary-mortgage market has all but disappeared in the past 24 months. But according to the Wall Street Journal, appraisals are increasingly becoming one of the biggest hurdles for new purchase and [...] The Mortgage Rescue Plan: Will It Work?By ANDREW JEFFERY This post first appeared on Minyanville. The answer? An emphatic no. This is simply the latest example of legal plunder perpetrated by the federal government against law-abiding, tax-paying citizens. The Obama administration’s scheme to help troubled borrowers centers on subsidizing interest payments, which would help borrowers make ends meet without angering those [...] Foreclosures Sting Even Best BuildersBy ANDREW JEFFERY This post first appeared on Minyanville. Foreclosure: It’s not just for those “subprime” people anymore. Besieged by collapsing home prices and frightened banks scrounging for cash, even the real-estate industry’s brightest stars are finding there’s no place to hide. According to the New York Times, small and mid-size homebuilders who thrived during [...] Keepin’ It Real Estate: Do Loan Modifications Work?By ANDREW JEFFERY This post first appeared on Minyanville. With millions of homeowners falling behind on their monthly payments, one in 6 underwater, and countless more struggling to keep up, politicians and banks alike are jumping on the loan modification bandwagon. A modification – or “mod,” as it’s known in the industry — is simply the [...] Gas Prices Effects On the HomeThis post first appeared on Minyanville. I came upon an interesting report out from Deutsche Bank on the effect high gas prices are having on home prices. Below are some highlights: Gas prices are up 167% in the last five years, 32% in the last year. Monthly gas expenditure is up to $519 in June [...] New Mortgages … Rule!Below are some details on the Fed’s proposed new mortgage rules courtesy of Briefing.com: New final mortgage rules ban prepayment penalties if payment can rise in first 4 years. New rules create category of ‘higher-priced mortgages’ including virtually all subprime loans. Lenders must verify repayment ability from income, non-home assets for higher-priced mortgages. Lenders must [...] |