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17 Articles match "Buying","Real Estate","Standards"
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The Latest from RealtyTrac
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Don't Dump Investors
The investor double-standard is hardly hidden. It appears everywhere and is never challenged, as if real estate investors are somehow disposable players in the foreclosure mess. Blinder, a professor of economics and public affairs at Princeton University and a former vice chairman of the Federal Reserve, could not be more clear: He suggests that the government should develop a federal program to buy out mortgages from lenders, just as it did during the Depression — to “refinance only owner-occupied residences. Don’t Dump Investors By Peter G. Miller
www.realtytrac.com
- Tuesday, February 3, 2009
The Government Goes After Loan Officers
That said, whats plain is that the SEC has opened a new front in the mortgage responsibility debate. Interstate Commerce At first it may seem odd that mortgages are a federal matter since loans are secured by real estate and nothing is more local than dirt. But both real estate and mortgages have been considered within the stream of interstate commerce for decades. The Government Goes After Loan Officers By Peter G. Miller One of the most galling aspects of the mortgage meltdown is the sense that folks who
www.realtytrac.com
- Tuesday, February 3, 2009
No Mortgage Meltdown For These Banks
number of lenders have maintained traditional underwriting standards and mortgage offerings. They thought long-term instead of quarterly; made sure their underwriting standards made sense and now show profits.” Which lenders? The result is that the company has small expenses and few bad loans so it costs Hudson about 20 cents to create an additional dollar of revenue versus the industry standard of roughly 61 cents. No Mortgage Meltdown For These Banks By Peter G. Miller The news from Wall Street in recent weeks has not
www.realtytrac.com
- Tuesday, February 3, 2009
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Lending Standards Continue to Tighten
The results of a new survey released today by the Federal Reserve confirms what many people looking to buy or refinance already know — it’s hard to get approved for a loan. branches and agencies of foreign banks, found that 75 percent of those banks had tightened lending standards for prime loans since the previous survey, in April. Standards were tightened even more for “nontraditional” The Fed’s July 2008 Senior Loan Officer Opinion Survey , which covered 52 domestic banks and 21 U.S. And six out of seven banks that originate subprime loans
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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As Home Prices Plummet, When Will You Buy?
Blitzer, Chairman of the Index Committee at Standard & Poor's, in a press release issued to announce the numbers. "Little Does this make it a good time to buy real estate? have access to credit have fat cash reserves aren't already over-exposed in real estate have a secure job or income stream expect to hold the property for at least two years" But be forewarned, prices are expected to fall further, Home prices in 20 of the nation's major metro areas in July were collectively down 16.3 percent from a year ago, according
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Stumbling Subprimes Spell Opportunity
The subprime mortgage industry is stumbling under a heavy burden of defaults, watching profits dwindle as lenders are forced to buy back loans that have turned sour. Wells Fargo, the biggest originator of subprime loans, according to National Mortgage News , announced this week that they would be cutting 320 jobs in their subprime mortgage division because of tighter lending standards. The tightened lending This bottom-line reality is forcing many lenders to tighten their lending requirements. It’s a downward spiral that threatens to suck down the entire housing market.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Subprime meltdown means jump in foreclosures
27, as Freddie Mac, one of the largest buyers of mortgages, tightened its lending standards and said it would no longer buy high-risk home mortgages that it deems to be highly vulnerable to foreclosure. If this scenario unfolds as predicted, mortgage lenders will look to real estate investors, home buyers and agents to bail them out. With the advent of Panic is spreading in the U.S. subprime mortgage market after the bankruptcy of at least 20 lenders in the last two months, triggering a mass liquidation of securities on Wall Street and an avalanche of foreclosure activity
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Don't Dump Investors
The investor double-standard is hardly hidden. It appears everywhere and is never challenged, as if real estate investors are somehow disposable players in the foreclosure mess. Blinder, a professor of economics and public affairs at Princeton University and a former vice chairman of the Federal Reserve, could not be more clear: He suggests that the government should develop a federal program to buy out mortgages from lenders, just as it did during the Depression — to “refinance only owner-occupied residences. Don’t Dump Investors By Peter G. Miller
www.realtytrac.com
- Tuesday, February 3, 2009
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Fannie Mae Toughens Foreclosure Guidelines
As one of the two main Government Sponsored Enterprises (GSEs) in this country — the other is Freddie Mac — Fannie announced new guidelines that will effect the loans it buys from lenders all over the country, securitizes and then sells to Wall Street investors. Effective June 1, 2008, Fannie will require a potential borrower’s credit history to be free from any foreclosure activity for five years before it will consider buying a mortgage taken out by that borrower. It was bound to happen. With government officials at the local, state and federal levels clamoring to clamp down
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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What's Causing the Credit Crunch?
Meanwhile, nervous lenders have responded by tightening their lending standards, making it more difficult and expensive for real estate investors and homeowners to borrow money, according to new survey conducted by the Federal Reserve in July. But the secondary market for mortgage-backed securities is essentially frozen, meaning that investors are unwilling to buy up mortgage debt at all. A lively debate is ensuing as to why the mortgage industry is unraveling and who’s to blame for the growing credit crunch that is sabotaging the housing industry. Wall Street analysts,
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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And the Hits' Just Keep On Coming!
All well known names in the world of finance, and all are now feeling the pinch due to an unstable real estate mortgage market and the lasting impacts the subprime mortgage crisis is having on their bottom lines. For Countrywide , the second quarter of the year was a real let down with the company drawing from an $11.5 Tightened lending guidelines Countrywide. Citigroup.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Economic Indicators: Image Is Everything
When it comes to purchasing real estate — either as a primary residence or as an investment — perception is everything. So it is with real estate. Four real estate industry related reports have already been released this week, and Wall Street has reacted. When reports of telltale economic indicators are released, if Wall Street perceives them as bad, the market takes an immediate tumble. But when the indicators reported come is as expected, the reaction is generally good and we see an uptick in market activity.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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New York Versus Freddie Mac: Round One
On one side is newly-passed state legislation which sets tough standards for subprime and “high cost” loans and on the other is Freddie Mac, which says it won’t buy such loans in the state after September 1st, the day the new law goes into effect. big chunk of the real estate market will close down. At New York Versus Freddie Mac: Round One By Peter G. Miller It’s fight time in New York.
www.realtytrac.com
- Tuesday, February 3, 2009
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