Blowing the Lid Off the Mortgage Industry
From the category archives:
If you’re new here, you may want to subscribe to my RSS feed. Thanks for visiting!“Commercial Real Estate lending conditions will likely deteriorate further after a sharp drop in the first quarter of 2009, creating both new opportunities and challenges for community banks,” said Chris Nichols, CEO of Banc Investment Group the capital markets [...]
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“Fair housing advocates have been warning the federal government for a decade, to no avail, about the damage that abusive lending would bring,” said Shanna L. Smith, President and CEO of the National Fair Housing Alliance (NFHA). “For too long, HUD and the Justice Department have stood by while people and neighborhoods of color have [...]
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Is your state unfriendly towards homeowners? Probably. Further, most states are particularly unfriendly towards homeowners being foreclosed upon.
A new report from the National Consumer Law Center (NCLC) reveals that three out of five states allow for so-called fast-track foreclosures without any court oversight. In addition, the report, titled “Foreclosing A Dream: State Laws Deprive [...]
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The military in Iraq wasn’t the only thing surging in 2008. Mortgage fraud also reached a new high last year, according to the FraudBlogger Index. Federal investigators have identified an increase in frauds and schemes in the real estate business as well.
Mortgage fraud activity that might have otherwise gone undetected was uncovered as falling home [...]
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Guest post from: Constantine von Hoffman, a veteran business journalist who writes the blog CollateralDamage.biz, a humorous look at marketing, business and his dog.
Once upon a time the US actually had a law in place that would have at least hindered the current mess. Not surprisingly, that legislation ? the Glass-Steagall Act ? came out [...]
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Today Blown Mortgage is doing another sponsored review for Nationwide Loan Processing, a contract, outsourced processing company for brokers and lenders who don’t want to keep loan processing departments in-house. I’m excited to write this review for Nationwide Loan Processing for two main reasons: 1. I’m a big believe in contract processing and 2. I’m [...]
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Thanks to reader Frank for sending this brief FAQ about the Federal Housing Administration’s Modernization bill and the Federal Stimulus Bill that was just passed. With all of the confusion around the changes proposed to FHA loan limits as well as the new conforming loan limits that will be in effect as a result of [...]
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With permission, I’ve done some number crunching on an actual deal that actually closed. These borrowers were not risky, AAA+ borrowers, low LTV on great house here in central Ohio. Over the summer, they chose to refinance. Since they were strong borrowers, the loan was clear to close before locking. We chose to close their [...]
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I just got this e-mailed to me. I wish I could be as confident as they are. What do you think?
Also, what do you think the “incorporating critical policy assumptions” means?
“NAHB’s housing forecast (incorporating critical policy assumptions) shows systematic improvements in home sales by the second quarter of 2008, improvement in [...]
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I just got the following e-mailed to me from one of the local title companies…..
Governor Granholm Signs Bipartisan Professionalism Package
Without any fanfare, Governor Granholm has signed the bipartisan Professionalism package (also know as “the bad builders bills) into law. Senate bills 450, 451, 452, and 453 (now Public Acts 155, 156, 157 and 158 of [...]
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