Category Archives: Mortgages

HAMP v2

From Bloomberg: Fannie and Freddie Outline New Respite for Troubled Borrowers Distressed mortgage borrowers will get a new lifeline from Fannie Mae and Freddie Mac after a critical foreclosure-prevention program expires this month. The mortgage-finance giants on Wednesday outlined a … Continue reading

Posted in Foreclosures, Mortgages, National Real Estate | 90 Comments

Has the refi window finally closed?

From HousingWire: Refinance well drying up? Rising interest rates shrink pool of eligible borrowers, again Recent reports from various analysts, including this one from Kroll Bond Rating Agency, suggest that 2017 will see smaller mortgage origination volume than 2016, thanks … Continue reading

Posted in Mortgages, National Real Estate | 108 Comments

Fewer and fewer underwater owners

From National Mortgage News: Homeowner’s Equity Rises 11% from 2015 Levels: CoreLogic The amount of equity homeowners hold grew by $726 billion, or 10.8%, in the third quarter of 2016 versus the year before, according to data from CoreLogic. On … Continue reading

Posted in Economics, Housing Recovery, Mortgages, National Real Estate | 33 Comments

10 years later, conforming loan limits finally increase

A couple of days old, but it’s big news and I missed it. From HousingWire: FHFA increases conforming loan limits for first time since 2006 For the first time since the housing crisis, the Federal Housing Finance Agency is increasing … Continue reading

Posted in Mortgages, National Real Estate | 53 Comments

Time to increase loan limits? (Haven’t we heard this somewhere before?)

From the WSJ: Home Builders Say Federal Loan Limits Shut Out Many Buyers At the New Haven housing development in Ontario, Calif., Brookfield Residential is building 189 townhomes priced below $378,000. So far, the moderately priced homes have sold at … Continue reading

Posted in Mortgages, National Real Estate, New Development, Risky Lending | 190 Comments

Conforming loan limit holding back prices?

From HousingWire: Is it now time to finally raise conforming loan limits? The chances the Federal Housing Finance Agency will raise the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2017 is … Continue reading

Posted in Mortgages, National Real Estate, Risky Lending | 111 Comments

Welcome back old friend!

From the WSJ, Hat Tip Moose: Freddie Mac Starts Pilot Program With Looser Standards Mortgage-finance giant Freddie Mac and two nonbank lenders are loosening income and documentation requirements for mortgage applicants in a new pilot program. The changes announced Monday … Continue reading

Posted in Mortgages, National Real Estate, Risky Lending | 115 Comments

refinance … BOOM!

From National Mortgage News: Brexit Drives Mortgage Application Activity Surge: MBA Mortgage applications increased 14.2% from one week earlier as rates dropped in reaction to the Brexit vote, according to data from the Mortgage Bankers Association. The MBA’s Weekly Mortgage … Continue reading

Posted in Economics, Mortgages, National Real Estate | 61 Comments

Tan Man Walks

From Bloomberg: Countrywide’s Mozilo Off Hook as U.S. Said to Abandon Suit U.S. prosecutors have abandoned their case against Angelo Mozilo, a leader in selling the risky subprime mortgages that fueled the financial crisis, after a two-year quest to bring … Continue reading

Posted in Foreclosures, Mortgages, Risky Lending | 57 Comments

Hubler does somewhat better in the real-world market

From the Star Ledger: Notorious ‘subprime villain’ Howie Hubler unloading Rumson estate for $4.5M The former Morgan Stanley bond trader believed to have lost more money than any single trader in the history of Wall Street has put his Rumson … Continue reading

Posted in Housing Bubble, Mortgages, Risky Lending, Unrest | 103 Comments

Freddie and Fannie to reduce principal

From HousingWire: FHFA makes it official: Principal reduction is coming A day that many in the housing industry thought would never come is finally and actually here, as the Federal Housing Finance Agency is making official what was first reported … Continue reading

Posted in Foreclosures, Mortgages, Politics, Risky Lending | 112 Comments

More settlements … no guilt … no prosecution

From the Star Ledger: Goldman Sachs to pay $5 billion for its role in housing bubble Goldman Sachs has agreed to pay more than $5 billion to settle charges it sold mortgages it knew were likely to fail during the … Continue reading

Posted in Mortgages, Politics, Risky Lending, Unrest | 68 Comments

Negative equity improves … except for the low-end

From CNBC: How are millions still underwater as home prices rise? Fast-rising home prices brought 1.5 million borrowers up from underwater on their mortgages in 2015, but there are still twice as many drowning. In total, 3.2 million homeowners nationally … Continue reading

Posted in Housing Recovery, Mortgages, National Real Estate | 60 Comments

In 5 years, remember this one

From the NY Post (Hat tip Chi): Obama is setting us up for another housing crash We learned nothing from the last financial crisis. The housing market is set to collapse, again, and a key culprit, again, is artificial demand … Continue reading

Posted in Economics, Mortgages, National Real Estate, Politics, Risky Lending | 95 Comments

Welcome back our subprime overlords

From HousingWire: Bank of America now offers 3% down mortgages without mortgage insurance Bank of America unveiled a new affordable mortgage program that offers consumers the option of putting as little as 3% down and requires no mortgage insurance. The … Continue reading

Posted in Mortgages, National Real Estate, Risky Lending | 86 Comments