Category Archives: Risky Lending

So it wasn’t subprime?

From Quartz: House flippers triggered the US housing market crash, not poor subprime borrowers The grim tale of America’s “subprime mortgage crisis” delivers one of those stinging moral slaps that Americans seem to favor in their histories. Poor people were … Continue reading

Posted in Foreclosures, Housing Bubble, National Real Estate, Risky Lending | 88 Comments

Smaller down payments gaining popularity

From CNBC: Homebuyers put less and less skin in the game, adding to the market’s overall risk It feels like deja vu in mortgage land all over again. Homebuyers are increasingly opting to put less money down when purchasing their … Continue reading

Posted in Housing Bubble, National Real Estate, Risky Lending | 77 Comments

Still #1

From HousingWire: Foreclosure filings see slight uptick in May The number of foreclosure filings increased slightly in May, but they are still down significantly from the year before, according to ATTOM Data Solutions. Foreclosure filings in May increased to a … Continue reading

Posted in Foreclosures, New Jersey Real Estate, Risky Lending | 9 Comments

How your tax dollars are spent to protect the wealthy

From Climate Central: How Rising Seas Drowned the Flood Insurance Program Long Beach Island is the largest and richest barrier island in New Jersey, an oasis of sprawling oceanfront retreats and second homes located midway down the state’s heavily developed … Continue reading

Posted in Politics, Risky Lending, Shore Real Estate | 22 Comments

Up or Down or Up or Down or Up or Down

From Marketwatch: Housing demand may keep market afloat, even if rates rise How will the housing market handle rising rates? Ever since the November election, when the unexpected Trump victory sent bond yields flying and mortgage rates following closely behind, … Continue reading

Posted in Demographics, Economics, National Real Estate, Politics, Risky Lending | 64 Comments

“Take a vacation on the house.”

From CNBC: Rising home values aren’t enough to shake consumers’ memories of the financial crisis Consumers still see value in buying and owning homes. Yet with memories of the recession still fresh in their minds, the recent lift in real … Continue reading

Posted in Housing Bubble, Mortgages, National Real Estate, Risky Lending | 85 Comments

As rates rise, FHA cuts premiums

From MarketWatch: After mortgage-rate spike, FHA to cut insurance premium The Federal Housing Administration will reduce the annual premium borrowers pay, in order to expand credit access to more Americans, the government announced Monday. Borrowers who close on an FHA … Continue reading

Posted in Mortgages, National Real Estate, Risky Lending | 73 Comments

Yeah, this again.

From the WSJ: House Flipping Makes a Comeback as Home Prices Rise House flipping, a potent symbol of the real-estate market’s excess in the run-up to the financial crisis, is once again becoming hot, fueled by a combination of skyrocketing … Continue reading

Posted in Housing Bubble, Mortgages, Risky Lending | 79 Comments

Time to lube the mortgage market

From Business Insider: It hasn’t been this hard to buy a house in America since the financial crisis Housing affordability in the US is at an eight-year low, according to Attom Data Solutions. The parent company of RealtyTrac released its … Continue reading

Posted in Mortgages, National Real Estate, Risky Lending | 101 Comments

Now lending standards go the other way

From the WSJ: U.S. Home Prices Soar, But Minorities and Young People Miss Out U.S. home values have jumped to records over the past four years, but some demographic groups have participated more in the rally than others. A study … Continue reading

Posted in Demographics, Economics, National Real Estate, Risky Lending | 28 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

Purchase Mortgages highest since 2007, Credit still tight

From HousingWire: Black Knight: Mortgage originations surge to highest level in three years The purchase market is booming, fueling the overall mortgage market and helping set the highest first-lien mortgage originations volume in a single quarter since the second quarter … Continue reading

Posted in National Real Estate, Risky Lending | 52 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