Category Archives: Risky Lending

More homeowners learn to swim, seriously delinquencies continue to fall

Posted on October 23, 2014 by grim

From MarketWatch: 15% of homes still seriously underwater According to a report released Thursday by RealtyTrac, 15% of U.S. properties (representing 8.1 million properties) with a mortgage are seriously underwater — meaning the homeowner owes at least 25% more than … Continue reading →

Posted in Economics, Housing Recovery, Mortgages, National Real Estate, Risky Lending | 117 Comments

Come and get it!

Posted on October 9, 2014 by grim

From HousingWire: Credit nation? HELOCs up 20.6% year-over-year A total of 797,865 home equity lines of credit were originated nationwide, up 20.6% from a year ago and the highest level since the 12 months ending June 2009, according to RealtyTrac. … Continue reading →

Posted in Mortgages, Risky Lending | 72 Comments

Heloc reset shocks not quite so shocking

Posted on September 2, 2014 by grim

From HousingWire: 2.5 million borrowers face imminent payment shock At least 2.5 million borrowers will face an average increase of $250 per month on their monthly mortgage payment due to the imminent reset in home equity lines of credit over … Continue reading →

Posted in Economics, Mortgages, National Real Estate, Risky Lending | 108 Comments

Don’t blame it on the Boomers, blame it on Gen X

Posted on August 26, 2014 by grim

From HousingWire: Generation X housing woes impact entire mortgage market Generation X, people 35 to 49, got hit the hardest by the financial crisis and as a negative side effect are now prohibiting the rest of the market from making … Continue reading →

Posted in Demographics, Economics, Employment, Housing Recovery, Risky Lending | 103 Comments

Distressed sales continue decline in June

Posted on August 21, 2014 by grim

From CoreLogic: Distressed Sales Accounted for Just 11 Percent of Total Home Sales in June Distressed sales (REO and short sales) accounted for 11.4 percent of total home sales in June, the lowest share since December 2007 and a strong … Continue reading →

Posted in Economics, Housing Recovery, Risky Lending | 136 Comments

HELOC resets not so scary

Posted on August 9, 2014 by grim

From the NYT: Dealing With Home-Equity Resets New research from TransUnion, a credit information service, suggests that the payment shock expected to hit millions of consumers with home equity lines over the next few years may not pose as much … Continue reading →

Posted in Economics, Mortgages, Risky Lending | 30 Comments

Oh boy, this won’t end well

Posted on August 3, 2014 by grim

From Housingwire: New York now allows shared appreciation mortgage modifications Underwater homeowners in New York state are now eligible for an additional form of mortgage modification intended to help more of them keep their homes, in a development quietly passed … Continue reading →

Posted in Foreclosures, Mortgages, Risky Lending | 28 Comments

Screw you FHA

Posted on July 22, 2014 by grim

From Housingwire: JPMorgan’s Dimon threatens to quit FHA loans JPMorgan Chase’s (JPM) CEO says his bank is considering getting out of the FHA mortgage origination business altogether. Notably, with the second quarter’s 66% year-over-year plunge in originations reported last week, … Continue reading →

Posted in Mortgages, Politics, Risky Lending | 124 Comments

Affording the unaffordable – HAMP fails again

Posted on March 11, 2014 by grim

Calling HAMP the flagship program is a bit of a joke since it’s been a failure since day 1. From the Washington Post: With clock ticking on mortgage relief, homeowners wonder what’s ahead Five years after the federal government bailed … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, Risky Lending | 57 Comments

Subprime 2.0

Posted on March 4, 2014 by grim

From the Huffington Post: Wall Street Has Found Its Latest Dangerous Financial Product, Activists Warn Housing and consumer activists warn that Wall Street is about to crash the housing market — again. The activists said they are particularly concerned about … Continue reading →

Posted in Housing Bubble, Risky Lending | 59 Comments

Mortgage performance continues to improve

Posted on November 23, 2013 by grim

From the NYT: Delinquency Rates on the Decline As the economy improves, the number of borrowers who are seriously behind on their mortgage payments continues to decline. The enhanced outlook is such that even those in delinquency are feeling more … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, Risky Lending | 68 Comments

No more love for bad loans

Posted on November 14, 2013 by grim

From Bloomberg: HUD Said to Fail in Bid to Sell $450 Million of FHA Mortgages The U.S. Department of Housing and Urban Development for the first time failed to sell some of the soured mortgages it’s auctioning off in the … Continue reading →

Posted in Economics, Foreclosures, Mortgages, Risky Lending | 106 Comments

People who can’t afford homes want homes

Posted on November 1, 2013 by grim

From HousingWire: A nation of renters? Not so, delinquent borrowers say. Report after report suggests that Americans have become wary of homeownership and prefer the lack of commitment that often accompanies renting. These reports leave readers with the distinct impression … Continue reading →

Posted in Economics, Employment, Housing Recovery, Risky Lending | 135 Comments

Foreclosure Schmoreclosure

Posted on October 18, 2013 by grim

From the WSJ: Foreclosure Haunts Next Home Purchase Jumbo borrowers who went into foreclosure a few years ago are learning the hard way: You can’t go home again. Affluent home buyers attempting to get back into real estate after defaulting … Continue reading →

Posted in Foreclosures, Housing Recovery, Risky Lending | 79 Comments

Even the mortgage companies didn’t expect them to pay

Posted on September 26, 2013 by grim

From HousingWire: FHFA watchdog sounds alarm on $4.6B loss Mortgage giant Freddie Mac failed to refer nearly 58,000 foreclosed homeowners who owed $4.6 billion on their guaranteed loans, thereby neglecting its chance to seize properties from those who defaulted on … Continue reading →

Posted in Economics, Foreclosures, National Real Estate, Risky Lending | 72 Comments