Category Archives: Risky Lending

Hot Potato

Posted on August 20, 2010 by grim

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 →

Posted in Housing Bubble, National Real Estate, Risky Lending | 182 Comments

6.67% of mortgage holders late in Q2

Posted on August 17, 2010 by grim

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 →

Posted in Economics, Foreclosures, National Real Estate, New Jersey Real Estate, Risky Lending | 96 Comments

Fannie reform unlikely as housing dips again

Posted on August 16, 2010 by grim

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 →

Posted in Economics, National Real Estate, Risky Lending | 116 Comments

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

Posted on June 25, 2010 by grim

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 →

Posted in Housing Bubble, National Real Estate, Risky Lending | 221 Comments

Government plan to plug Gulf leak with bad mortgages fails

Posted on June 18, 2010 by grim

From CNN/Money: 75% of modified home loans will redefault Most borrowers who have had their mortgages modified through a government-sponsored program will redefault within 12 months, according to a report released Wednesday. Between 65% and 75% of loans that are … Continue reading →

Posted in National Real Estate, Risky Lending | 131 Comments

BoA moves towards short sales

Posted on June 9, 2010 by grim

From HousingWire: Bank of America Puts Short Sales Ahead of REO Bank of America, one of the largest lenders in the U.S., has instituted a policy of liquidating as many assets saddled with defaulted loans as possible before repossession, said … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 236 Comments

Free rent!

Posted on June 1, 2010 by grim

From the NYT: Owners Stop Paying Mortgages, and Stop Fretting For Alex Pemberton and Susan Reboyras, foreclosure is becoming a way of life — something they did not want but are in no hurry to get out of. Foreclosure has … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 353 Comments

Jumbos Near 10% Delinquency Nationally, NJ Jumbos 3rd Worst

Posted on February 9, 2010 by grim

From HousingWire: Fitch Says Prime Jumbo RMBS Near 10% Delinquent The performance of US prime jumbo loan performance within residential mortgage-backed securities (RMBS) slipped again in January as serious delinquencies (60+ days past due) rose for the 32nd consecutive month … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 304 Comments

FHA to tighten lending standards. As FHA goes, so goes the market.

Posted on January 20, 2010 by grim

From the WSJ: FHA to Lift Mortgage Insurance Fees The Federal Housing Administration will announce more-stringent lending requirements and higher borrower fees on Wednesday to cushion against rising defaults and stave off the need for a taxpayer bailout of the … Continue reading →

Posted in National Real Estate, Risky Lending | 270 Comments

Mortgage Modification Program A Failure

Posted on January 18, 2010 by grim

From Bloomberg: Loan Modification Recipients Fall Short, Drop Out About 25 percent of homeowners who received trial loan modifications through President Barack Obama’s main foreclosure prevention plan are failing to keep up with their new reduced payments, the Treasury Department … Continue reading →

Posted in Economics, National Real Estate, Politics, Risky Lending | 169 Comments

Edison NJ Mortgage Lender Subpoenaed By HUD

Posted on January 12, 2010 by grim

Edison-based lender Security Atlantic Mortgage was subpoenaed by the HUD Office of the Inspector General today. Security Atlantic and 14 other lenders nationwide are being investigated by the U.S. Department of Housing and Urban Development for having significantly high default … Continue reading →

Posted in New Jersey Real Estate, Risky Lending | 169 Comments

“I don’t see (subprime mortgage market troubles) imposing a serious problem. I think it’s going to be largely contained” – Paulson 2007

Posted on January 4, 2010 by grim

From Bloomberg: Housing Animal Spirits to Be Banished by Prime Foreclosures Homeowners with the best credit are the next big risk for the U.S. housing market. An increase in mortgage defaults among prime borrowers in 2009 is likely to accelerate … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 68 Comments

Mortgage delinquencies still rising

Posted on December 29, 2009 by grim

From Reuters: Fannie mortgage holdings sink, delinquencies leap Fannie Mae’s gross mortgage portfolio shrank sharply in November while the delinquency rate on single-family loans it guarantees leaped in October, the government-controlled U.S. home funding company said on Monday. The company … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 288 Comments

Jersey bucks the trend

Posted on December 20, 2009 by grim

From the Courier News: New Jersey real estate trends don’t mirror national patterns As the real estate market seems to be stabilizing nationally and the number of foreclosed homes across the country fell for the fourth straight month, according to … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate, Risky Lending | 268 Comments

President Obama is going to pay your mortgage! (Taxpayers really, but who is counting?)

Posted on November 29, 2009 by grim

From the NYT: U.S. Will Push Mortgage Firms to Reduce More Loan Payments The Obama administration on Monday plans to announce a campaign to pressure mortgage companies to reduce payments for many more troubled homeowners, as evidence mounts that a … Continue reading →

Posted in Economics, National Real Estate, Politics, Risky Lending | 107 Comments