Category Archives: Risky Lending

Squatter Rent???

Posted on May 6, 2011 by grim

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 →

Posted in Employment, Foreclosures, National Real Estate, Risky Lending | 115 Comments

Best borrowers take the biggest hits

Posted on April 24, 2011 by grim

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 →

Posted in Foreclosures, National Real Estate, Risky Lending | 140 Comments

Mortgage delinquencies fall – Jersey near top

Posted on April 20, 2011 by grim

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 →

Posted in Foreclosures, National Real Estate, Risky Lending | 221 Comments

Calls to scrap failed HAMP program grow louder

Posted on January 27, 2011 by grim

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 →

Posted in Foreclosures, National Real Estate, Politics, Risky Lending | 161 Comments

HAMP FAIL

Posted on December 14, 2010 by grim

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 →

Posted in Foreclosures, Housing Bubble, National Real Estate, Risky Lending | 142 Comments

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

Posted on November 22, 2010 by grim

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 →

Posted in Economics, Foreclosures, National Real Estate, Risky Lending | 145 Comments

Do tighter lending standards make sense, or not?

Posted on November 17, 2010 by grim

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 →

Posted in Economics, Housing Bubble, National Real Estate, Risky Lending | 129 Comments

533 Days…

Posted on November 2, 2010 by grim

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

Posted in Foreclosures, New Jersey Real Estate, Risky Lending | 166 Comments

A different kind of stimulus

Posted on November 1, 2010 by grim

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 →

Posted in Housing Bubble, National Real Estate, Risky Lending | 154 Comments

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

Posted on October 28, 2010 by grim

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 →

Posted in Foreclosures, National Real Estate, Risky Lending | 160 Comments

Taking it back

Posted on October 20, 2010 by grim

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 →

Posted in Foreclosures, National Real Estate, Risky Lending | 168 Comments

JPM: Delinquent borrowers are just trying to stall foreclosures

Posted on October 16, 2010 by grim

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 →

Posted in Foreclosures, National Real Estate, Risky Lending | 134 Comments

So much for “innovation” in lending

Posted on October 12, 2010 by grim

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 →

Posted in Housing Bubble, National Real Estate, Risky Lending | 162 Comments

So who owns the house?

Posted on October 11, 2010 by grim

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 →

Posted in Foreclosures, National Real Estate, Risky Lending | 119 Comments

Back to reality?

Posted on October 8, 2010 by grim

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 →

Posted in Economics, New Jersey Real Estate, Risky Lending | 373 Comments