Category Archives: Risky Lending

GSE High-LTV Mortgages Vaporware?

From HousingWire: Black Knight: Consumers aren’t getting Fannie, Freddie 3% down mortgages For all the uproar that surrounded Fannie Mae and Freddie Mac introducing loan programs that allowed buyers to put down as little as 3% around this time last … Continue reading

Posted in Mortgages, National Real Estate, Risky Lending | 59 Comments

New tunnel? We can’t afford it.

From NJ Spotlight: HOW WILL CASH-STRAPPED NJ PAY ITS SHARE OF GATEWAY RAIL-TUNNEL PROJECT? Federal and state officials gave the plan to build a new rail tunnel under the Hudson River a major boost earlier this month when they announced … Continue reading

Posted in Economics, New Development, New Jersey Real Estate, Risky Lending | 76 Comments

The HELOC is back!

From the NYT: Cashing in on Home Equity Rising home prices are raising equity levels, and homeowners are cashing in on these gains. In the first three quarters of this year, the sales volume of single-family homes and condominiums reached … Continue reading

Posted in Economics, Employment, Housing Recovery, Risky Lending | 80 Comments

GSE Reform Dead

From HousingWire: GSE leadership no longer expecting reform The government-sponsored enterprises are getting back to their core mission, shaking the idea that a resolution to conservatorship is just around the corner and reshaping their business models to reduce risk to … Continue reading

Posted in Economics, Housing Recovery, Politics, Risky Lending | 81 Comments

The Subprime Myth

From PBS: The U.S. foreclosure crisis was not just a subprime event Many studies of the housing market collapse of the last decade, and the associated sharp rise in defaults and foreclosures, focus on the role of the subprime mortgage … Continue reading

Posted in Economics, Housing Bubble, Risky Lending | 64 Comments

Shocker – Not foreclosing on delinquent homes means high delinquencies

From the Star Ledger: N.J. has highest rate of distressed mortgages in nation, study shows A greater share of residential mortgages in New Jersey were distressed at the end of the second quarter of this year than any other state … Continue reading

Posted in Foreclosures, Politics, Risky Lending | 63 Comments

Mortgage delinquencies down 20% since last year

From HousingWire: TransUnion: Mortgage delinquency rates continue rapid decline The mortgage delinquency rate — the rate of borrowers 60 days or more delinquent on their mortgages — continued its rapid decline, falling to 2.72% in Q2 2015, according to TransUnion. … Continue reading

Posted in Foreclosures, Mortgages, Risky Lending | 69 Comments

Don’t you worry about those unintended consequences

From NJ Spotlight: REPORT: FORECLOSURES, EMPTY HOMES STILL DRAGGING DOWN NEWARK’S ECONOMY Baraka’s response – a plan for eminent-domain acquisition of inflated mortgages in two ‘model neighborhoods’ – may be needed citywide. A new report finds foreclosures and housing vacancies … Continue reading

Posted in Foreclosures, Housing Recovery, Mortgages, New Jersey Real Estate, Politics, Risky Lending | 145 Comments

In-depth look into NJ’s foreclosure situation

From the Record: Fuller impact of home foreclosure debacle hits N.J. The number of New Jersey home repossessions by lenders has soared in the past two years and is on track to increase again in 2015, in sharp divergence to … Continue reading

Posted in Foreclosures, New Jersey Real Estate, Risky Lending | 118 Comments

Subprime wasn’t the problem?

From Fortune: The subprime mortgage crisis wasn’t about subprime mortgages In the years following the financial crisis, a cottage industry arose that tried to explain just what happened to the American economy and the financial system. Early on in the … Continue reading

Posted in Foreclosures, Housing Bubble, Risky Lending | 70 Comments

Boomerangers

From the NYT: Mortgage Market on the Mend New research from TransUnion, the credit information service, predicts that some 1.5 million homeowners who were forced out of the mortgage market after the housing bust will have recovered sufficiently to re-enter … Continue reading

Posted in Foreclosures, Housing Recovery, Mortgages, National Real Estate, Risky Lending | 63 Comments

Is 20% even possible anymore?

From Bloomberg: Want a House? Good Luck With the Down Payment Saving for a down payment has long been a big challenge for anyone who wants to buy a home. And it got harder after the financial crisis, as lenders … Continue reading

Posted in Housing Recovery, Mortgages, Risky Lending | 146 Comments

9 years of foreclosure inventory in NJ

From Black Knight Mortgage Monitor Black Knight’s April Mortgage Monitor: 62 Percent of Seriously Delinquent Loans Have Undergone Home Retention Actions; Florida Sees Greatest Backlog Improvement This month, Black Knight examined the most recent data on home retention actions — … Continue reading

Posted in Foreclosures, Housing Recovery, New Jersey Real Estate, Risky Lending | 121 Comments

Clinton did it…

From the WSJ (Hat tip Moose): They Put a Face on the ’90s Homeownership Push. Then They Lost Their Home This month marks 20 years since President Bill Clinton unveiled his “National Homeownership Strategy,” a 100-point action plan that put … Continue reading

Posted in Foreclosures, Housing Bubble, National Real Estate, Politics, Risky Lending | 104 Comments

What stigma of foreclosure?

From WSJ: After Foreclosures, Home Buyers Are Back The housing industry is slowly seeing the return of buyers like Rick LeBlanc, who lost his Michigan home to foreclosure during the financial crisis but now qualifies for a mortgage again. Mr. … Continue reading

Posted in Foreclosures, Housing Recovery, Risky Lending | 56 Comments