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43 Articles match "Lending","Market","Real Estate"
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The Latest from RealtyTrac
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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
Instead, what you see are lenders who merely stuck with tested, traditional lending concepts. not far from Manhattan, Hudson City Bancorp has a lending philosophy that dates back decades: You can get a dull, boring, mortgage from Hudson at a very low rate — but only if you put equity into the property. Unlike virtually every other mortgage lender, Hudson doesn’t make option ARMs, doesn’t sell loans in the secondary market and doesn’t offer credit cards. No Mortgage Meltdown For These Banks By Peter G. Miller The news
www.realtytrac.com
- Tuesday, February 3, 2009
New York Versus Freddie Mac: Round One
big chunk of the real estate market will close down. After all, if investors have something to lose they will surely insist on stronger lending practices and thus borrowers will get a better deal. This seems to make a lot of sense until you enter the real world. 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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Lending Standards Continue to Tighten
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. And six out of seven banks that originate subprime loans said they had tightened lending standards on those loans in the last three months. About 45 percent of loan officers from domestic banks said they expected their banks to tighten lending standards 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.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Defaults Drive Subprime Lending Restraint
Signs of self-imposed restraint on lending guidelines showed up this week in a somewhat surprising corner of the industry: the subprime market. Both of these loan types are common, especially in markets where rapid home price appreciation in the past five years has compensated for the default risk inherent with such loans. The push to lower defaults is driven by the asset-backed bond market , which packages and sells Reuters reported yesterday that Fremont Investment and Loan, the nations fifth-biggest originator of subprime loans last year, was able to lower its early default rate from nearly 6 percent in mid-2006 to 3 percent through measures that included cutting ties with about 8,000 brokers whose loans were identified as contributing to the lender’s high default rate Fremont also cut down on the number of so-called stated income loans, which allow borrowers to obtain a loan without proof of income, and reduced the number of 80-20 loans, in which borrowers simultaneously take out a first and second
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Wachovia Changes The Lending Game
Wachovia Changes The Lending Game By Peter G. By every measure Wachovia is an important part of the lending community, so when it does something new or different in the mortgage arena the impact can be significant. Efforts to perpetuate prepayment penalties in the face of harsh marketplace realities will now be impossible to defend.” Wall Street Pricing loans is a complex task and many factors impact value when loans are packaged and sold in the securities market. Miller With assets of more than $800 billion, Wachovia is the nation’s fourth-largest banking institution .
www.realtytrac.com
- Tuesday, February 3, 2009
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Bank-Owned Properties and REO Frequently Asked Questions - RealtyTrac
REO is an acronym for real estate owned and is industry jargon for foreclosure property repossessed by banks or lenders. Bank-owned properties are usually sold at below-market prices with great terms like low down payments and low interest rates... Locate below-market priced properties Where can I find REOs? Bank-Owned Properties and REO (FAQ) Search Properties | Free 7-Day Trial What is an REO? If a lender or bank is the highest bidder a foreclosure auction — or if no third party bids at the auction — the property reverts back to the
www.realtytrac.com
- Tuesday, February 3, 2009
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Subprime Market Sinking Further Into the Abyss
The latest developments in the subprime lending market should have the entire real estate industry up in arms (figuratively and literally). Now the problem has dug down to the very roots of the lending industry and is shaking loose some of the largest subprime lenders, who are now falling into the abyss. which was being courted for a buyout by Credit Suisse Group, is now being sold to Citadel Investment The problem has gone far beyond the $1 trillion worth of so-called “exotic” adjustable rate loans resetting in each of the next two years. Borrowers began feeling
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Local Market Perspective, Seattle, Wash.
Here are some things to keep in mind when considering a distressed property purchase: Foreclosures are the most problem prone and strenuous type for real estate purchase. On average, you need 10 percent market value in cash to reinvest in the property. Lending institutions are loosing billions of dollars, a few hundred dollars matters to them. You never get a perfect house. You get price per-square-foot.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Bernanke: Free Market Can Curb Foreclosures
Bernanke talked extensively about how he believes the Federal Reserve Board should respond to rising foreclosures — specifically in the subprime mortgage market. His conclusion came down in favor of the free market: "Credit market innovations have expanded opportunities for many households. Markets can overshoot, but, ultimately, market forces also work to rein in excesses. In remarks he made yesterday in Chicago, Federal Reserve Board Chairman Ben S. For some, the self-correcting pullback may seem too late and too severe.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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How to Buy HUD Home Foreclosures - RealtyTrac
HUD now has become the owner of the real estate. So it sells HUD home foreclosures through approved real estate brokers who advertise themselves as approved HUD brokers. These HUD-approved real estate professionals advertise their services in a number of places, including local newspapers and phone books. How Can I Buy HUD Home Foreclosures? Search Properties | Free 7-Day Trial Search nearly 650,000 Foreclosure and Government properties. More than 1 million total properties including For Sale by Owner, HUD Home Foreclosures,
www.realtytrac.com
- Tuesday, February 3, 2009
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Stumbling Subprimes Spell Opportunity
This bottom-line reality is forcing many lenders to tighten their lending requirements. 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 standards, coupled with stagnant home price appreciation, leaves many homeowners in default unable to refinance their way out of foreclosure. 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.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Cagan: Big Scary Numbers, Little Impact
Despite so many zeroes and commas in his numbers, however, Cagan assured industry professionals attending a recent meeting of the Real Estate Research Council of Southern California that those very long numbers will have little impact on the national economy, although they will pack quite a punch for the people most immediately affected by them – lenders, borrowers and investors. “This This will not break the economy or the lending industry,” Cagan said. “This At first glance, the numbers that Dr. Christopher Cagan works with on a daily basis look scary – especially when
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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