Policy makes take aim at inflated appraisals

By Les Christie CNNMoney.com NEW YORK (CNNMoney.com) ... was that appraisers, pressured by loan officers and mortgage brokers, kept hyping home values. Not only did homebuyers wind up paying more, but the exotic mortgage products they needed to finance [more...]

Date: 2009-01-14 11:38:44

Blog posts (7) | Videos (47)
 

Grand Mal (from 9-8-2008)

The Feds have seized Fannie Mae and Freddie Mac. Now I’m no financial or economics expert; ... of a car, but I do know that I don’t want my tax dollars paying for someone else’s home. The Turbos ... mortgage broker try to sell us a “teaser rate” loan. We said “NO” — and rented and saved. However [more...]

Date: 2008-12-06 14:05:59

The Debt-to-Income Ratio: How Much House Can You Afford?

Housing is the largest expense in the budget of most families. But how much is too much to spend on shelter? ... of her grandfather’s home. The loan that made up the difference, with closing costs, broker’s fee, taxes ... my compassion. Ms. Natale (who has three children) took out a housing loan that left her just $100 [more...]

Date: 2008-11-11 13:00:08

FHA Streamline Refinance – What You Need To Know

September 20, 2009 | By Joe Peters In Finance | Among the many options available to existing homeowners is the FHA streamline program, which is available in all states, including Utah. These types of loans are available by consulting with your local mortgage broker to best deal with your particular home financial details. [more...]

Date: 2009-09-21 01:21:20

Mr Mortgage Loan Mod Survey - I Would Appreciate Your Assistance

I need a favor from all of my mortgage broker and home owner friends out there ... done the right way.  I have swung completely over to this side of the fence as regulators, law makers ... is fully re-underwritten using present income and debt levels, prudent 28/36 debt-to-income ratios [more...]

Date: 2009-01-03 16:03:10

Chase pulls out of Wholesale Lending with Mortgage Brokers

I just received this memo from Chase: “Home lending remains an integral part of our firm’s overall financial strategy, and as such, ... -originated loans acquired from Correspondent lenders. Our new strategic direction is supported ... decision, we will no longer accept any new locks and registrations from or purchase any loans [more...]

Date: 2009-01-13 20:24:21

Mortgage rates slide under 5%

Rates on 30-year fixed-rate loans fell across the country for the week ended Thursday to an average of 4 ... Altman, a partner with WestCal Mortgage Corp. in Orange, said homebuyers with good credit and a 20% down ... brokers; could lay off 100 Bad bank assets must be dealt with, Fed chief says O.C. distressed homes [more...]

Date: 2009-01-15 22:02:07

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