Category Archives: Risky Lending

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 →

So much for “innovation” in lending

Posted on October 12, 2010 by grim
Posted in Housing Bubble, National Real Estate, Risky Lending | 160 Comments

From HousingWire: Freddie Mac economist: Exotic mortgages meant steepest declines in area values In states where adjustable-rate or exotic mortgages were more prevalent than traditional loans, home values fell 39% on average, compared to a 5% decrease in more conservative … Continue reading →

So who owns the house?

Posted on October 11, 2010 by grim
Posted in Foreclosures, National Real Estate, Risky Lending | 115 Comments

From Bloomberg: Foreclosure Freeze May Sideline U.S. Homebuyers as Legal Worry Cuts Sales A halt in home foreclosures at the largest U.S. mortgage firms may sideline buyers worried about legal issues, further depressing sales at a time when distressed properties … Continue reading →

Back to reality?

Posted on October 8, 2010 by grim
Posted in Economics, New Jersey Real Estate, Risky Lending | 368 Comments

From the Press of Atlantic City: Mortgate rates hit new low as qualifying standards hit new high, so what’s a housing market to do? Mortgage rates this month have fallen to their lowest levels in recorded history, but local industry … Continue reading →

Hot Potato

Posted on August 20, 2010 by grim
Posted in Housing Bubble, National Real Estate, Risky Lending | 182 Comments

From Housingwire: Fitch: Big Four Banks Face $180bn in Buybacks from Fannie and Freddie Government sponsored enterprises (GSEs) Freddie Mac and Fannie Mae may exercise the right to force the big four banks, JP Morgan, Citigroup, Bank of America, and … Continue reading →

6.67% of mortgage holders late in Q2

Posted on August 17, 2010 by grim
Posted in Economics, Foreclosures, National Real Estate, New Jersey Real Estate, Risky Lending | 95 Comments

From Forbes: Late mortgage payments spike in 2Q vs year ago The rate at which U.S. homeowners fell behind on their mortgage payments remained stubbornly elevated in the second quarter. In the three months ended June 30, the number of … Continue reading →

Fannie reform unlikely as housing dips again

Posted on August 16, 2010 by grim
Posted in Economics, National Real Estate, Risky Lending | 115 Comments

From the WSJ: Housing Ills Cloud Debate on Fannie All year long, the Obama administration has defended its decision to postpone the debate over the fate of Fannie Mae and Freddie Mac by arguing that it first needed to put … Continue reading →

Here she comes. Watch out boy she’ll chew you up.

Posted on June 25, 2010 by grim
Posted in Housing Bubble, National Real Estate, Risky Lending | 222 Comments

From the NY Times: Analysts Question a Threat by Fannie Fannie Mae’s decision to begin punishing people who walk away from their unpaid mortgages could prove difficult to sell to the public and might be impossible to execute, housing and … Continue reading →