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Holt (NJ12) - Congressional Record Statement - Mortgage Reform and Anti-Predatory Lending A... - 0 views

  • One of the most prevalent abuses by subprime loan originators has been the practice in which they steer prospective borrowers towards loans that will provide originators with the highest near-term payoff, sometimes through fees the broker or loan officer collects by directing borrowers towards those loans.  The Mortgage Reform and Anti-Predatory Lending Act would prohibit mortgage brokers and bank officers from directing borrowers towards loans that will ultimately become more expensive than they can afford, and would mandate that lenders only issue loans that the borrowers can repay.  In addition, it will require loan originators to disclose to borrowers any compensation they receive in connection with the mortgage transaction.   
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House Bill Encourages Increased Warehouse Lending - 0 views

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    21st Century FHA Housing Act
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Existing-Home Sales Show Strong Gain - Originator Times - 0 views

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    Existing-home sales rose unexpectedly while inventory declined, led by a surge of sales in the West, according to the National Association of Realtors®.
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My List: A Collection on "Home Loans/Mortgage" (mortgage,loans,equity,financial,home) | Dii... - 0 views

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State Mortgage Reform Bill Offers Hope For Homeowners -- Courant.com - 0 views

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    Describes new mortgage reform and bailout bill passes wednesday august 12th,2009.
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Appraisers with Revoked Licenses Still Profit in Real Estate Industry - 0 views

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    appraisal fraud
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Media: News Releases > Fannie Mae Implementing New Loan-to-Value Ceiling for Home Affordabl... - 0 views

  • Home Affordable Refinance Program
  • Previously, HARP allowed for refinancing of Fannie Mae loans with LTVs up to 105 percent. With the expansion, loans with LTVs above 105 percent and up to 125 percent will be eligible for refinancing through the company's Refi Plus™ manual underwriting option.
  • In conjunction with the LTV eligibility expansion, Fannie Mae will offer a special .50 percent reduction in the loan-level price adjustment charged for loans with LTVs above 105 percent and loan terms of 20 and 25 years. The reduction is intended to incent borrowers to select shorter terms and build positive equity in their homes sooner than with a typical 30-year mortgage.
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    Previously, HARP allowed for refinancing of Fannie Mae loans with LTVs up to 105 percent. With the expansion, loans with LTVs above 105 percent and up to 125 percent will be eligible for refinancing through the company's Refi Plus™ manual underwriting option.
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Financial Crisis News Center: July 2009 Loan Officer Survey Released - 0 views

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    July 2009 Senior Loan Officer Opinion Survey on Bank Lending Practices
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News N Economics: Lending standards tight according to global loan officer surveys - 0 views

  • Global lending standards are tight; and why shouldn't they be when the unemployment rate is surging in most G7 economies?
  • The Federal Reserve Bank's senior loan officer survey shows that lending remains at record-tight levels across all loan types: commercial and industrial (C&I), consumer, and mortgage. Please see this post for an in-depth discussion of lending.
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    Global lending standards are tight; and why shouldn't they be when the unemployment rate is surging in most G7 economies?
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Home prices up during 2nd quarter - 0 views

  • The S&P/Case-Shiller national index, which covers the entire country, including urban, suburban and rural areas, was up 2.9 percent for the three months that ended June 30, compared with the three months that ended March 31.


    It was the first quarter-to-quarter growth in three years.

  • Yale economics Professor Robert Shiller
  • We have seen rebounds before that fizzled. ... It really is too soon to call this a turning point. It looks like that downturn we've established for three years is still the prominent factor."
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  • S&P/Case-Shiller also measures home prices in 20 major metropolitan areas on a monthly basis (the broader national index is released quarterly). Its 20-city index was up 1.4 percent in June compared with May, and up 0.5 percent in May over April - the first incidence of two consecutive monthly gains in more than three years. Eighteen of the 20 markets, including San Francisco, experienced monthly price gains.
  • The government's $8,000 tax credit for first-time home buyers, which many analysts credit with juicing home purchases, will expire Nov. 30, unless Congress extends it. "If it's the reason that housing is getting a boost, then we'll see some payback when the credit goes away," said Patrick Newport, U.S. economist with IGH Global Insight.
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