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6 Articles match "New York","Points","Sales"
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The Latest from RealtyTrac
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Long-Term Solution for Fannie and Freddie Dilemma
If Fannie Mae and Freddie Mac collapse the result would be the wholesale destruction of the national mortgage system; a virtual halt to home sales because few local mortgages would be available; soaring interest rates because few loans would be available and a level of losses throughout the economy unseen since the Great Depression. The huge problems at Fannie Mae and Freddie Mac were supposed to be resolved with new management and revamped accounting, but no resolution could revolve a basic issue: Private mortgage buyers are always at a disadvantage when competing against Fannie Mae
www.realtytrac.com
- Tuesday, February 3, 2009
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
High-End Foreclosures Rising Among Top Tier Homes
High-End Foreclosures Rising Among Top Tier Homes By Octavio Nuiry, RealtyTrac Staff Writer Until now, the foreclosure crisis was confined to a narrow niche of middle-class urban communities and outer-rim new housing developments where first-time homeowners and real estate speculators benefited briefly from favorable financing. said there will be more troubles for upscale flippers, high-end prime borrowers, developers and lenders. “Upscale foreclosures are a growing trend,” said McCabe, pointing to the overflow of some 30,000 unsold
www.realtytrac.com
- Tuesday, February 3, 2009
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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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Bank-Repossession Beat Continues in March
And for the second month in a row, the number of bank repossessions, or REOs, was up more than 100 percent year over year. The implication: while significantly more homeowners are falling into foreclosure, there is an even bigger increase in the number of homeowners already in the process who are losing their homes to foreclosure — whether through the typical foreclosure sale mechanism or whether by pre-empting the public foreclosure sale through what is called a deed in lieu of foreclosure. The year-over-year increase in bank repossessions was even more dramatic in some
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Rate Cut, Real GDP Are Some Positive News
One day after President Bush pointed the finger at Congress and told the American public to blame lawmakers for all of their recent financial woes, an inkling of actual positive news came out of Washington Wednesday with two announcements from government agencies. In the first, and the more closely watched of the two, the Federal Reserve took a much anticipated move to lessen the pressure on the nation’s economy by lowering the federal funds rate another 25 basis points to 2 percent (that’s a long way down from the 5.25 percent the Fed started with when it cut the first 50 basis points off in Sept.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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High-End Foreclosures Rising Among Top Tier Homes
High-End Foreclosures Rising Among Top Tier Homes By Octavio Nuiry, RealtyTrac Staff Writer Until now, the foreclosure crisis was confined to a narrow niche of middle-class urban communities and outer-rim new housing developments where first-time homeowners and real estate speculators benefited briefly from favorable financing. said there will be more troubles for upscale flippers, high-end prime borrowers, developers and lenders. “Upscale foreclosures are a growing trend,” said McCabe, pointing to the overflow of some 30,000 unsold
www.realtytrac.com
- Tuesday, February 3, 2009
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As Foreclosures Mount, Candidates React to the Credit Crisis
Clinton also wants the government to impose new disclosure requirements on mortgage brokers and curb their ability to dictate lending terms. “We need to act now with smart, practical solutions to strengthen our housing and mortgage markets,” Clinton told The Associated Press. “We That does not require statutory language or new laws.” Dodd also pointed out that many brokers give clients the false impression they’re working on their behalf. “Brokers With mortgage foreclosures at historic highs, Democrats and Republicans are fighting over a political issue that could have major implications in the 2008 presidential campaign.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Long-Term Solution for Fannie and Freddie Dilemma
If Fannie Mae and Freddie Mac collapse the result would be the wholesale destruction of the national mortgage system; a virtual halt to home sales because few local mortgages would be available; soaring interest rates because few loans would be available and a level of losses throughout the economy unseen since the Great Depression. The huge problems at Fannie Mae and Freddie Mac were supposed to be resolved with new management and revamped accounting, but no resolution could revolve a basic issue: Private mortgage buyers are always at a disadvantage when competing against Fannie Mae
www.realtytrac.com
- Tuesday, February 3, 2009
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