Category Archives: Risky Lending

Fed out of bullets?

Posted on September 29, 2011 by grim
Posted in Economics, Housing Recovery, Mortgages, National Real Estate, Risky Lending | 148 Comments

From HousingWire: Bernanke calls for more housing help from Washington Federal Reserve Chairman Ben Bernanke delivered a speech Tuesday afternoon on emerging market economies, but it was his remarks about the state of the still-ailing U.S. economy in a Q&A … Continue reading →

Screwed over a second time

Posted on September 12, 2011 by grim
Posted in Foreclosures, Housing Bubble, Risky Lending | 61 Comments

From the NY Post: $1T in sour notes It’s the flip side of foreclosure fraud: Not only is the city fireman in danger of losing his home, he also might wind up with smaller retirement checks because his pension invested … Continue reading →

“Feeling the pains of an old-fashioned recession”

Posted on August 29, 2011 by grim
Posted in Economics, New Jersey Real Estate, Risky Lending | 112 Comments

From the Record: Bad loans continue to rise for NJ banks Toxic loans held by New Jersey-based banks continued to climb in the second quarter even as bad loans at U.S. banks declined, according to new government data. The Federal … Continue reading →

Pleas to “hit the number” largely ignored

Posted on August 24, 2011 by grim
Posted in Economics, National Real Estate, New Jersey Real Estate, Risky Lending | 111 Comments

From Reuters: U.S. housing faces extra drag – low appraisals When Sean McGowan signed a contract to buy a New Jersey home in November, he didn’t expect he’d still be living with his parents nearly a year later. The deal … Continue reading →

Bye bye PMI

Posted on August 23, 2011 by grim
Posted in Housing Bubble, National Real Estate, Risky Lending | 120 Comments

From HousingWire: PMI Group units forced to stop writing new insurance The PMI Group’s market share “is going to be eaten up by competitors” in the aftermath of Arizona regulators placing the mortgage insurer under state supervision and curtailing the … Continue reading →

Armageddon Open Discussion

Posted on August 8, 2011 by grim
Posted in Economics, Risky Lending | 336 Comments

With all eyes on the market this morning, why bother posting something about real estate. Predictions for closing prices on the Dow, S&P, Gold and Oil are due in by noon.

Yearning for the days of easy money

Posted on June 25, 2011 by grim
Posted in National Real Estate, Risky Lending | 78 Comments

From the WSJ: Tighter Lending Crimps Housing The percentage of mortgage applications rejected by the nation’s largest lenders increased last year, spotlighting how banks’ cautious lending practices are hampering the nascent housing market recovery. In all, the nation’s 10 largest … Continue reading →

Will reduced loan limits kill the high-end?

Posted on June 2, 2011 by grim
Posted in Housing Bubble, National Real Estate, New Jersey Real Estate, Risky Lending | 128 Comments

From HousingWire: Lower loan limits deadline may not boost housing prices The Federal Housing Finance Agency is expected to reduce conforming loan limits on mortgages guaranteed by Fannie Mae and Freddie Mac this October. The hopeful anticipation is that demand … Continue reading →

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 →