Category Archives: Risky Lending

Dems seek HARP expansion

Posted on September 11, 2012 by grim

From HousingWire: Senators bargain on HARP expansion Senate Democrats reintroduced a bill to expand refinancing for an estimated 13.5 million Fannie Mae and Freddie Mac mortgage borrowers. Sens. Robert Menendez, D-N.J., and Barbara Boxer, D-Calif., will keep the origination cut-off … Continue reading →

Posted in Foreclosures, Mortgages, Politics, Risky Lending | 99 Comments

That was quick

Posted on June 18, 2012 by grim

From HousingWire: Rancho Financial brings back stated-income mortgages Preparing for the return of the jumbo lending market and the days when Fannie Mae and Freddie Mac are no longer mortgage finance behemoths, Rancho Financial is wading back into offering stated-income … Continue reading →

Posted in Mortgages, Risky Lending | 77 Comments

No Borrower Left Behind

Posted on June 4, 2012 by grim

From American Banker: HARP Refis Skyrocket in 1Q HARP 2.0, the expanded GSE refinancing program unveiled late last year, kicked into full speed during the first quarter with volumes doubling to 180,000 units compared to the prior period. The program … Continue reading →

Posted in Mortgages, National Real Estate, Risky Lending | 121 Comments

How low can it go?

Posted on June 2, 2012 by grim

From CNN/Money: Mortgage rates keep plunging: 15-year dips below 3% Mortgage rates continued to plunge to new lows this week, with interest rates on the 15-year fixed rate mortgage dipping below 3% for the first time on record. The 30-year … Continue reading →

Posted in Economics, Mortgages, Risky Lending | 216 Comments

Risky loans bite Jersey banks

Posted on April 14, 2012 by grim

From the Record: North Jersey banks repossessed more properties In banking, OREO is not a cookie, and there’s no sugary frosting in the middle. It’s an acronym for one of the industry’s most unpleasant statistics, Other Real Estate Owned, which … Continue reading →

Posted in Economics, Foreclosures, Risky Lending | 41 Comments

How the Fed learned to stop worrying and love bad loans

Posted on April 11, 2012 by grim

From the Wall Street Journal: Jersey Rejuvenation Story About six years ago, Newark, N.J., seemed to be winning its long struggle to emerge from decades of urban decay, and one of the symbols of that was the opening of Eleven80, … Continue reading →

Posted in Foreclosures, New Development, New Jersey Real Estate, Risky Lending | 145 Comments

Forclosure activity ticks higher as lenders resume resposessions

Posted on March 7, 2012 by grim

From Reuters: Foreclosure starts jump 28 percent in January : LPS Starts on U.S. home foreclosures shot up 28 percent in January, data provider Lender Processing Services (LPS.N) said on Tuesday in a report that suggested paper backlogs that had … Continue reading →

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

Do you have an FHA originated before June, 2009?

Posted on March 6, 2012 by grim

You are in luck. From the WSJ: White House Cuts Refinance Fees The U.S. government will cut fees on federally insured mortgages that have prevented some borrowers from refinancing their home loans at ultra-low interest rates, the latest in a … Continue reading →

Posted in Mortgages, Politics, Risky Lending | 24 Comments

Seller’s Market Buyer’s Market Renters Market! (and a squatter’s market too)

Posted on February 24, 2012 by grim

A Two-Parter from Bloomberg (Hat tip Chi!): Why Renters Rule U.S. Housing Market (Part 1): A. Gary Shilling The collapse in housing and the 33 percent plunge in house prices since 2006 are favoring renting over homeownership. This trend will … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, Politics, Risky Lending | 164 Comments

Can’t wait to hear about how NJ spends the settlement

Posted on February 13, 2012 by grim

From Bloomberg: Foreclosure Deal May Help States Prop Up Budgets, Raze Houses Wisconsin plans to use part of its $140 million share of the national foreclosure settlement to fill a budget hole. Missouri would devote $40 million for education. Ohio … Continue reading →

Posted in Foreclosures, Housing Recovery, Risky Lending | 137 Comments

What’s our cut of the settlement?

Posted on February 9, 2012 by grim

From the Daily Record: NJ gets $837.7M in nationwide mortgage and foreclosure settlement New Jersey’s share of the $25 billion mortgage settlement announced Thursday is expected to bring financial relief to at least some of the state’s homeowners who are … Continue reading →

Posted in Housing Recovery, New Jersey Real Estate, Politics, Risky Lending | 117 Comments

Thursday Morning Grim

Posted on February 9, 2012 by grim

From CNBC (via Business Insider): New York Housing Market Could Still Collapse: Analyst There’s been a lot of talk recently about home prices reaching a bottom. Most notably, Bill McBride at Calculated Risk — perhaps the most respected housing market … Continue reading →

Posted in Foreclosures, Housing Bubble, New Jersey Real Estate, Risky Lending | 172 Comments

Foreclosure settlement to finally be reached today?

Posted on February 6, 2012 by grim

From Bloomberg: Foreclosure Deal Deadline Arrives as States Must Choose Whether to Sign On States that balked at bank liability releases in a proposed $25 billion nationwide settlement over foreclosure practices must decide by today whether its mortgage relief and … Continue reading →

Posted in Foreclosures, Mortgages, National Real Estate, Risky Lending | 106 Comments

Why do we keep believing we can fix housing?

Posted on January 23, 2012 by grim

From the WSJ: Economists See Ways to Aid Housing Market he underpinnings of a housing recovery are hiding in plain sight: sharp price declines, low mortgage rates and rising rents have made owning more affordable than renting in a growing … Continue reading →

Posted in Economics, Foreclosures, Housing Bubble, Housing Recovery, National Real Estate, Risky Lending | 155 Comments

Housing Bailout #307b – “Sacrifice for the greater good”

Posted on January 5, 2012 by grim

From HousingWire: Bernanke calls for nationwide REO rental program The government should consider helping the nation’s vacant, unsold stock of foreclosed properties by supporting initiatives to occupy. Federal Reserve Chairman Ben Bernanke believes that one aspect should be a government … Continue reading →

Posted in Economics, Foreclosures, National Real Estate, Risky Lending | 222 Comments