5 Articles match "New York","Originate","Origination"

• The Best from RealtyTrac

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• New York Versus Freddie Mac: Round One
  
  New York Versus Freddie Mac: Round One By Peter G. Miller     It’s fight time in New York. 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. This is a big deal because if New York lenders can’t sell mortgages to buyers such as Freddie Mac, they simply won’t make such loans. You can guess what happens next:
  www.realtytrac.com - Tuesday, February 3, 2009
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• Study Forecasts Rising Subprime Foreclosures
  
  A new study released yesterday by the Center for Responsible Lending projects that one out of five subprime mortgages originated in the past two years will end in foreclosure, costing homeowners as much as $164 billion. “This rate is nearly double the projected rate of subprime loans made in 2002, and it exceeds the worst foreclosure experience in the modern mortgage market, which occurred during the “Oil Patch” disaster of the 1980s. It warns cities in California, Nevada, New Jersey, New York and Michigan, as well as the greater Washington, D.C. The study, which cites RealtyTrac numbers as one of its sources, looked at subprime foreclosure rates from 1998 through 2006 and closely ties those rates to house price appreciation.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Home Prices Fall Deeper Into the Abyss
  
  Home prices in its original composite 10 metro areas fell to a new record low, down 16.9 Washington, Los Angeles, New York and Miami are highlighted in a S&P press release as the best performing markets overall since January 2000. Homeowners across the country may be feeling a bit like Mel Brooks’ character from his movie “High Anxiety” now that Standard and Poor’s has released its May numbers for the S&P/Case-Shiller Home Price Indices . In the movie, Brooks’ character nervously sweats every time he even thinks about getting
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• No Mortgage Meltdown For These Banks
  
  Hudson has deposits of $49 billion, a network of 125 branches in New Jersey, New York and Connecticut and just 1,350 employees — a fraction of the workforce one would find with banks of similar size. As one example, Hermance says that of 50,000 New Jersey mortgages his bank bought back just two properties during a recent 12-month period. Hudson No Mortgage Meltdown For These Banks By Peter G. Miller     The news from Wall Street in recent weeks has not been good, especially in the world of mortgages.
  www.realtytrac.com - Tuesday, February 3, 2009
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• Don't Dump Investors
  
  See: From the New Deal, a Way Out of a Mess, The New York Times, Feb. They would not make such loans if they produced ongoing losses, and they surely would not originate such mortgages without proper underwriting and appraisals. Don’t Dump Investors By Peter G. Miller    When it comes to bailing out giant banks, huge companies and massive stock brokerages theres no shortage of government interest and activity.
  www.realtytrac.com - Tuesday, February 3, 2009
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