Category Archives: Risky Lending

Is 20% even possible anymore?

Posted on June 16, 2015 by grim

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 | 158 Comments

9 years of foreclosure inventory in NJ

Posted on June 11, 2015 by grim

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 | 126 Comments

Clinton did it…

Posted on June 10, 2015 by grim

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?

Posted on April 9, 2015 by grim

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 | 58 Comments

What subprime crisis?

Posted on February 23, 2015 by grim

From the WSJ: Lenders Step Up Financing to Subprime Borrowers Loans to consumers with low credit scores have reached the highest level since the start of the financial crisis, driven by a boom in car lending and a new crop … Continue reading →

Posted in Mortgages, National Real Estate, Risky Lending | 99 Comments

The light at the end of the tunnel is a train…

Posted on February 13, 2015 by grim

From the Star Ledger: N.J. foreclosure rate among highest in nation, but dip may signal ‘light at end of tunnel’ Foreclosures activity in New Jersey fell last month, according to a new report, but the state’s foreclosure rate still remains … Continue reading →

Posted in Foreclosures, New Jersey Real Estate, Politics, Risky Lending | 74 Comments

Mistakes? So what! Fuggedaboudit!

Posted on February 12, 2015 by grim

From the WSJ: FHA Looks to Ease Banks’ Worry on Mortgage Mistakes A U.S. housing regulator is considering limiting one of the most powerful tools federal attorneys have to punish banks for making mistakes in mortgage lending, a move the … Continue reading →

Posted in Mortgages, Politics, Risky Lending | 100 Comments

Foreclosures drop – But not so much in Jersey

Posted on February 11, 2015 by grim

From HousingWire: CoreLogic: Foreclosures down 13.7% year-over-year There were 39,000 completed foreclosures nationwide in December 2014, a drop from 46,000 last year, marking a year-over-year decline of 13.7% and a fall of 66% from the pear of completed foreclosures in … Continue reading →

Posted in Foreclosures, New Jersey Real Estate, Risky Lending | 115 Comments

Sound familiar?

Posted on January 8, 2015 by grim

From Bloomberg: Obama to Cut FHA Mortgage Insurance Premiums to Boost Homeownership In an effort to expand homeownership among lower-income buyers, President Barack Obama plans to cut mortgage-insurance premiums charged by a government agency. The annual fees the Federal Housing … Continue reading →

Posted in Mortgages, Politics, Risky Lending | 227 Comments

Delinquency rates continue to decline

Posted on December 16, 2014 by grim

From NMP: Mortgage Delinquency Rates Continue to Shrink The total balance of seriously delinquent first mortgages–defined as 90 days past due or in foreclosure–was $198.8 billion in November, a decrease of more than 29.8 percent year-over-year and the lowest level … Continue reading →

Posted in Economics, Housing Recovery, Mortgages, Risky Lending | 113 Comments

What’s a little fraud between friends

Posted on December 12, 2014 by grim

From the NYT: Falsified Mortgage Applications on the Rise Falsified applications are now the most common type of mortgage fraud, their incidence having risen steadily for the last three years, according to LexisNexis Risk Solutions’ annual mortgage fraud report. The … Continue reading →

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

3% is back

Posted on December 10, 2014 by grim

From MarketWatch: Feds hope 3%-down-mortgages will boost struggling housing market After announcing plans in October to boost lending for first-time and middle class borrowers by reducing down payment requirements, Fannie Mae and Freddie Mac this week detailed guidelines to banks … Continue reading →

Posted in Mortgages, Politics, Risky Lending | 115 Comments

I really need you to hit this number

Posted on December 2, 2014 by grim

From the WSJ: Dodgy Home Appraisals Are Making a Comeback Home appraisers are inflating the values of some properties they assess, often at the behest of loan officers and real-estate agents, in what industry executives say is a return to … Continue reading →

Posted in Mortgages, National Real Estate, Risky Lending | 138 Comments

Merry Christmas from Freddie and Fannie

Posted on November 29, 2014 by grim

From the WSJ: Mortgage Lenders Set to Relax Standards Some of the largest U.S. mortgage lenders are preparing to further ease standards for borrowers after the release of new guidelines this month from mortgage giants Fannie Mae and Freddie Mac … Continue reading →

Posted in Mortgages, National Real Estate, Risky Lending | 52 Comments

What? You didn’t actually think lending standards were going to stay this tight? Did you?

Posted on November 5, 2014 by grim

From HousingWire: Why GSE support of low-down payment mortgage is not bad Not everyone in the industry is on board with the Federal Housing Finance Agency’s recent move to encourage lenders to issue mortgages with down payments as low as … Continue reading →

Posted in Mortgages, Risky Lending | 149 Comments