Tag Archives: Lending

Prospective FHA borrowers, you have one month remaining…

…before the higher mortgage insurance premiums kick in. I’ve been alerted by multiple lenders this week regarding the new FHA mortgage insurance premiums set to become effective April 1. For loans under $625,000 FHA will increase its annual mortgage insurance … Continue reading

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Lending standards to remain tight

According to yesterday’s Bloomberg.com article, “U.S. banks tightened standards on all types of loans in the second quarter and said they expect to maintain strict criteria on lending until at least the second half of 2010.” About 35 percent of … Continue reading

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Now May Not the Time to Buy

Unless you’re a professional foreclosure investor, on a company relocation package, too rich to care, or desperate to get away from a bad landlord situation with plans to live in a purchased property for the next 7-10 years, now may … Continue reading

Posted in Agent Insights, Lending, Market Trends, Market Trends | Tagged , , , | 93 Comments

Under the Kimono: The End of Wall Street

This is a stellar Friday afternoon read, with many thanks to Incline Jim for forwarding the link. It’s a behind-the-scenes look at how our financial castle crumbled, some ordinary folks who saw it coming, and stories of those clever enough … Continue reading

Posted in General, Lending | Tagged , | 24 Comments

“1929 was for pussies…”

Or so said Jon Stewart this evening during his commentary on what I like to call Behemoth Black Monday. Surprisingly, today the House of Representatives failed to pass the biggest bailout in US history. Perhaps because a large percentage of … Continue reading

Posted in Agent Insights, General, News | Tagged , , , | 55 Comments

What Happens Now With Fannie and Freddie?

The following post is from Stephanie Hanna, a lender we work with. It provides an inside the lending industry view on the latest government actions to save Fannie and Freddie. It’s official. On Sunday, Treasury Secretary Paulson placed Fannie Mae … Continue reading

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Strange Call from American Home Mortgage…

…Or at least their loan servicing center in India, because I think that’s all that’s left of the company. They called today wanting to know if we could make our mortgage payment early. When the hubby asked if they were … Continue reading

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GMAC Mortgage Death Watch

Bloomberg announced today that GMAC Mortgage is closing 200 offices and dismissing 5000 employees. This just keeps getting worse and worse. Where are they going to get $10 billion to avoid failing in the next two quarters? Oh yeah, that’s … Continue reading

Posted in General, Lending | Tagged , , | 5 Comments