Category Archives: Risky Lending

Happy days are here again!

Posted on May 27, 2011 by grim
Posted in Housing Bubble, New Jersey Real Estate, Risky Lending | 147 Comments

From the Record: “Liar loans” still available, but not for everybody Stated-income mortgage loans, which do not require borrowers to verify their income, came to be known as “liar loans” during the subprime lending bust when many of the loans … Continue reading →

Strategic defaults on the decline

Posted on May 17, 2011 by grim
Posted in Housing Bubble, National Real Estate, Risky Lending | 143 Comments

From HousingWire: Signs show strategic default on the decline The trend of borrowers choosing to default on their mortgage when they otherwise might have been able to afford payments is on the decline, JPMorgan Chase (JPM: 42.88 0.00%) analysts said … Continue reading →

As the market changes, so do the scams

Posted on May 10, 2011 by grim
Posted in National Real Estate, Risky Lending | 107 Comments

From the Philly Inquirer: ‘Flopping’ – a new type of scam in the housing market Although reports of mortgage fraud nationally fell 41 percent in 2010 from 2009, the continuing downturn in the housing market has fostered new ways of … Continue reading →

Squatter Rent???

Posted on May 6, 2011 by grim
Posted in Employment, Foreclosures, National Real Estate, Risky Lending | 112 Comments

From Bloomberg: ‘Squatter Rent’ May Boost Spending as U.S. Mortgage Holders Bail Melissa White and her husband stopped paying their mortgage in May 2008 after it reset to $3,200 a month, more than double the original rate. That gave them … Continue reading →

Best borrowers take the biggest hits

Posted on April 24, 2011 by grim
Posted in Foreclosures, National Real Estate, Risky Lending | 140 Comments

From the NYT: Fallout From a Poor Credit Score IF you want to see how quickly you can ruin a great credit score, just skip a mortgage payment. … Missed mortgage payments, serious loan delinquencies, loan modifications, short sales, foreclosures … Continue reading →

Mortgage delinquencies fall – Jersey near top

Posted on April 20, 2011 by grim
Posted in Foreclosures, National Real Estate, Risky Lending | 214 Comments

From HousingWire: National delinquency rate drops again in March: LPS The national delinquency rate continued to fall in March, according to the “First Look” report from Lender Processing Services, down to 7.8%. The report provides month-end mortgage performance statistics from … Continue reading →

Calls to scrap failed HAMP program grow louder

Posted on January 27, 2011 by grim
Posted in Foreclosures, National Real Estate, Politics, Risky Lending | 161 Comments

From USA Today: Inspector general: Mortgage modification program a ‘failure’ A mortgage modification program aimed at saving homeowners from foreclosure has failed because regulators are “afraid to rein in or impose penalties on the mortgage servicers” whose record “has been … Continue reading →

HAMP FAIL

Posted on December 14, 2010 by grim
Posted in Foreclosures, Housing Bubble, National Real Estate, Risky Lending | 139 Comments

From Bloomberg: U.S. Foreclosure Prevention Program to Fall Short, Watchdog Panel Finds A U.S. Treasury program aimed at preventing 3 million foreclosures is likely to fulfill less than a third of its goal, a congressional watchdog reported. The Treasury’s homeowner … Continue reading →

A “significant and growing shadow inventory that is likely to persist for some time”

Posted on November 22, 2010 by grim
Posted in Economics, Foreclosures, National Real Estate, Risky Lending | 143 Comments

From Inman: Report: 8 months of ‘shadow inventory’ The “shadow inventory” of homes likely to be repossessed by lenders or already in their real estate owned (REO) inventory but not yet on the market reached 2.1 million units in August, … Continue reading →

Do tighter lending standards make sense, or not?

Posted on November 17, 2010 by grim
Posted in Economics, Housing Bubble, National Real Estate, Risky Lending | 125 Comments

From Bloomberg: Home Ownership Gets Harder for Americans as Lenders Restrict FHA Mortgages Home ownership may be falling out of reach for more Americans as lenders toughen their standards for Federal Housing Administration-insured loans beyond what the agency itself requires. … Continue reading →

533 Days…

Posted on November 2, 2010 by grim
Posted in Foreclosures, New Jersey Real Estate, Risky Lending | 164 Comments

From Lender Processing Service: LPS Mortgage Monitor – October 2010 Mortgage Performance Observations

A different kind of stimulus

Posted on November 1, 2010 by grim
Posted in Housing Bubble, National Real Estate, Risky Lending | 154 Comments

From the WSJ: The Stealth Stimulus of Defaulters Living for Free The mortgage-foreclosure mess could prove expensive for banks and investors. But in some states, it will also prolong an unintended economic stimulus: free housing for millions of defaulters. Across … Continue reading →

With a 50% redefault rate, does HAMP even make sense?

Posted on October 28, 2010 by grim
Posted in Foreclosures, National Real Estate, Risky Lending | 160 Comments

From HousingWire: COP: Half of HAMP permanent mortgage mods will redefault Half of the so far nearly 500,000 permanent modifications completed by servicers participating in the Home Affordable Modification Program will redefault, Sen. Ted Kaufman (D-Del.), chairman of the Congressional … Continue reading →

Taking it back

Posted on October 20, 2010 by grim
Posted in Foreclosures, National Real Estate, Risky Lending | 166 Comments

From CNBC: Foreclosed Homeowners Break Into Former Home There’s been a lot of funny business in the mortgage industry. It’s getting less funny by the minute. Danielle and Jim Earl admit they skipped mortgage payments, filed for bankruptcy, and lost … Continue reading →

JPM: Delinquent borrowers are just trying to stall foreclosures

Posted on October 16, 2010 by grim
Posted in Foreclosures, National Real Estate, Risky Lending | 133 Comments

From HousingWire: JPM: Robo-signing now borrower strategy to avoid foreclosure One of the largest investment banks at the center of the robo-signing scandal is claiming that distressed borrowers are using the allegations as a stall tactic to prevent losing their … Continue reading →