Mortgage Guide - Information, News and Tips
Important things to know before getting a refinance or Home Equity Loan
Thursday, March 08, 2007
First thing, make sure that the loan will save you money in the long run, and more importantly, make sure you can afford the new loan payments.Every refinance loan is different, so make sure the terms will be manageable for you.Home equity loans also vary, so we advise you to evaluate all available options before making a final decision.Introductory rates may be misleading so be on the lookout
Plans of Mortgage Lenders are mainly divided in two groups
Wednesday, February 07, 2007
The repayment mortgage is a simple concept. The borrower makes regular monthly payments over a period of time comprising capital and interest so that at the end of the term the mortgage is paid off.Main advantages of a repayment mortgage:It’s simple to understand.The borrower sees that the amount borrowed is being reduced and assured.The Interest only Mortgage, with this mortgage the borrower
Reverse Mortgages
Friday, January 26, 2007
When pursuing a plan of reverse mortgage we suggest that you seek legal counsel, because, although it gives you a life estate the right to live in that home until death, there are restrictions as well as other disadvantages that might outweigh the benefits for some people. A reverse mortgage is a type of home equity loan that allows you to convert. Some of the equity in your home into cash
Home Mortgages Refinancing
Thursday, January 25, 2007
Are you considering refinancing your home mortgage loan? Here are some tips when it comes to refinancing your home mortgage loan:There a few types of loans: Fixed interest rate loans and adjustable rate loans. A fixed rate mortgage loan is a fixed rate of ten to fifty years and the payments are based on a fixed interest rate. Adjustable rate mortgages are based on an index and the interest
Money Depot - Mortgage Services, Loans, Refinancing, Home Equity Loans
Mortgage-Refinance Articles from EzineArticles.com
The Best Home Mortgage Deals Can Be Found
Fri, 30 Jul 2010 19:55:18 -0500
Looking to find the best home mortgage deals? You are in for a good treat, because soon, you will discover the self same methods I use to help people find the best home mortgage deals, and save thousands in the process!
You Can Save Thousands With A Home Mortgage
Fri, 30 Jul 2010 19:07:33 -0500
Do you want to literally save thousand with a new mortgage? Realize that it is fully possible, and as you read this short article, you will soon discover the information you need, to be able to get the best, and fast!
Finding A Home Mortgage Broker To Save Both Time And Money
Fri, 30 Jul 2010 19:06:35 -0500
Do you want to buy a home? Getting a mortgage is an essential step, but finding the right solution can take a lot of time. Is there are way to save time? Yes, it comes in the form of home mortgage brokers. And in this article, we will look at how a home mortgage broker can save both time and money.
Finding The Latest Home Mortgage Deals
Fri, 30 Jul 2010 19:05:37 -0500
Do you want to find the latest home mortgage deals? There are options, and you can find them with some research. In this article, we will look at ways you can find the latest home mortgage deals, and what to look for, to make sure that you get the best finance to buy a home!
Home Refinance - An Intelligent Step Towards Prosperity
Fri, 30 Jul 2010 15:44:04 -0500
With the increase in property prices and the tough economic situations in Texas, refinancing houses is becoming the only viable option for many people of Texas to pay off the existing loan. It is seen as an opportunity to finance the existing loan by getting a new one. This might appear as a foolish solution to many but in fact this can open the doors of prosperity and success for anyone.
Snatch a House Easily
Fri, 30 Jul 2010 15:39:27 -0500
Florida is a place of dreams; tangerine fields, Disney World, beaches, beautiful blue skies and a location that is prime for going on vacation. Florida is a great place to settle down with your loved one, have kids, and raise them in a dream land. Yes, Florida is probably the place you would want to live in, but getting a Florida mortgage is extremely tricky.
A Guide on Mortgage Rates For New Homebuyers
Fri, 30 Jul 2010 15:20:16 -0500
Buying your own home is one of the best decisions in your life. Like most buyers, you will need to get a mortgage to purchase the property. That is why it is crucial to know the current interest rates in order to find the best deal in the market.
How the Government Can Help With Your Mortgage
Fri, 30 Jul 2010 15:07:44 -0500
In these uncertain times having your home foreclosed is probably the scariest thought in everybody's minds. Because of a couple of missed mortgage payments homeowners are now faced with foreclosure.
Find Home Mortgage Deals
Fri, 30 Jul 2010 15:07:26 -0500
Finding the home mortgage deals can result in saving thousands. You can save a lot of money with the aid of this article, so let us begin and find the best home mortgage deals.
Reverse Mortgage - The Payments
Fri, 30 Jul 2010 15:04:36 -0500
If you are like most seniors today, you are finding it more difficult to live on a fixed income when the cost of living is anything but fixed. Energy, gasoline, medical costs, food, rising taxes - all these increases are robbing your retirement of its' value. Nationally most seniors obtain Reverse Mortgage to get rid of their mortgage payment.
Compare Home Mortgage Quotes And Get The Best Home Mortgage Deals!
Fri, 30 Jul 2010 14:58:33 -0500
Do you want the current best home mortgage deals? It is fully possible, and when you compare home mortgage quotes, you can be sure to find the best options.
Home Loan Mortgage Quote
Fri, 30 Jul 2010 14:56:08 -0500
The best thing you can do to get the best home mortgage, is to go through and do effective research to find the best home loan mortgage quotes. In this article, you will soon discover the information you need, to be able to get the best!
Why Should You Refinance Your Mortgage?
Fri, 30 Jul 2010 14:03:20 -0500
In these hard times where the economy is really not at its best, foreclosure is a grim reality. Foreclosure means that you will be left without a home and its get worse if you actually have a family.
How Much Are You Really Paying For With Your Monthly Mortgage Payments?
Fri, 30 Jul 2010 14:02:28 -0500
If you're like most homeowners, you have a mortgage that is paid in terms of a monthly plan. You know that you can afford to pay the monthly fees and you think that they're quite reasonable; what you likely don't know is the total amount you really end up paying after you finished making the monthly payments for your mortgage. As an example, assume that you bought a house and the initial principal for the mortgage you took on is $250,000.00 payable for 30 years.
Things to Know When Applying For Your First Mortgage
Fri, 30 Jul 2010 14:01:57 -0500
Are you a first-timer trying to apply for your first mortgage? Are you sure that you are prepared, financially, for this major obligation? If you are quite unsure that you have the requirements in applying for a loan here are some pointers so you can be a bit more knowledgeable when it comes to mortgages.
Refinance your home and lower your monthly mortgage payments or reduce the time it takes to pay off your loan.
Bankrate.com: Home equity Headlines
Home equity can be used to buy car
Fri, 31 Jul 2009 05:00:00 GMT
Home equity products can be used to fund a car purchase. But there are risks for the homeowner.
Interest Rate Roundup
Thu, 30 Jul 2009 05:00:00 GMT
Here are the latest interest rates and commentary on five common consumer banking products from Bankrate.com's weekly national survey of large banks and thrifts.
Interest Rate Roundup
Thu, 23 Jul 2009 05:00:00 GMT
Here are the latest interest rates and commentary on five common consumer banking products from Bankrate.com's weekly national survey of large banks and thrifts.
Fixed-rate loan can cut risk
Tue, 21 Jul 2009 05:00:00 GMT
With interest rates likely to rise, locking into a fixed-rate loan may make sense right now.
Interest Rate Roundup
Thu, 16 Jul 2009 05:00:00 GMT
Here are the latest interest rates and commentary on five common consumer banking products from Bankrate.com's weekly national survey of large banks and thrifts.
Home Equity Loans - Home Equity Line of Credit
Loans Articles from EzineArticles.com
How to Read a Loan Document
Fri, 30 Jul 2010 21:24:10 -0500
While going through the document, look out for the promissory note. This section mentions the amount of principal and interest, due dates for payment and the conditions under which the bank can declare you a defaulter. Apart from non-payment of the loan there may be several other reasons that may be considered cause for default.
Bad Credit Loans - Quick Financial Cure For Your Poor Credit
Fri, 30 Jul 2010 21:07:07 -0500
Bad credit loans offer easy finance to a person with poor credit status who has been denied fund aid from elsewhere. Make use of the money the way you like, be it personal or professional. Hurry, go online now!
Logbook Loans - Quick Finance Against Your Vehicle
Fri, 30 Jul 2010 20:41:42 -0500
Logbook loans are available against logbook of your vehicle. These are secured loans and you must have a vehicle to avail them.
Wedding Loans For People With Bad Credit - Plan an Exclusive Wedding
Fri, 30 Jul 2010 17:44:56 -0500
Thinking to give some big surprise to your other half by doing something special in your wedding day, then forget the poor credit report and apply for this financial help. Wedding loans for people with bad credit provide extra cash support to people who contain imperfect credit history due to their past mistakes.
Bad Credit Secured Loans - Improve Your Credit Score Easily
Fri, 30 Jul 2010 17:07:26 -0500
Bad credit secured loans are offered to individuals suffering with poor credit. These loans are available on affordable rates and anyone can apply for it.
ICICI Bank NRI Home Loans Interest Rates
Fri, 30 Jul 2010 16:30:16 -0500
ICICI Bank provides home loans to Non-Residential Indians also. ICICI Bank NRI Home loans have lots of advantages. Eligibility criteria for applying loan include age, income and residential status. The minimum age required is 21 years. There are two categories of applicants. Self employed applicants and salaried applicants have different and separate rules.
Arranging Your Car Finance
Fri, 30 Jul 2010 15:53:14 -0500
You need a new car and may be wondering where to arrange the car finance for your purchase. Available sources.
Options For Car Loans
Fri, 30 Jul 2010 15:40:46 -0500
If you are looking for car loans than there are a number of options that could be open to you. One of these may be to try an online car finance broker to help you find the most appropriate loan for your own circumstances out of the numerous car loans that may be available on the market.
How to Benefit From Loan Modification Programs
Fri, 30 Jul 2010 14:52:54 -0500
Loans have made or break both individuals and businesses, most of the times they are helpful, but at times they can turn into an agonizing financial burden that destroys the peace of mind, of both lenders and borrowers. Generally, it is the borrower who suffers the most.
Unsecured Bad Credit Loans - Some Key Questions About This Loan
Fri, 30 Jul 2010 14:45:14 -0500
What are unsecured bad credit loans? It is a loan that is made for the people out there, that have bad credit. It is also a loan, where you do not need collateral to secure it.
Subprime Semi Truck Financing - Easy Way to Get Cash For Bad Creditors
Fri, 30 Jul 2010 14:45:12 -0500
Subprime semi truck financing offer the opportunity to buy the commercial vehicle with no burden. This facility provides the cash to poor credit holders at very minimum paper work because of the online presence.
Why It's Easy to Get Payday Loans
Fri, 30 Jul 2010 13:32:20 -0500
With this recession under our belts we are affected financially more than ever before. The world really has come to a problem status with many across the world even losing their jobs. If you're one of those people you may have though about Payday loans.
What You Might Need to Know About a Lending Tree Loan
Fri, 30 Jul 2010 13:30:26 -0500
Many people have heard of Lending Tree but aren't completely sure of what it really is. It offers a service of connecting those that seek loans to those that give loans.
Instant Collection of Loans at Your Home
Fri, 30 Jul 2010 10:12:11 -0500
What if every facility comes to your doorstep? Think when you do not have to go anywhere to get your desired service. It can be true for few products or services that you can get them directly at your home. But have you ever thought about the loans that you can get at your home?
Emergency Military Loan
Fri, 30 Jul 2010 07:33:54 -0500
The loans which are giving to the military personnel to help them in their financial problems are called Emergency military loan. These loans are actually available for those personnel who want to solve their small financial problems. Many financial companies and banks are providing these loans to the military personnel, so they can easily cope up with their problems. These loans can be secured by anyone who is able to pay it back after some time or on regular basis. The pay back system may differ, some banks and companies want their money back month by month and others may give you alternate months to pay it back. These things are actually decided in the agreement, which is signed during the process of taking loan.
Mortgage News Daily - Mortgage and Real Estate News
MORTGAGE RATES: Best Lock/Float Advice MND Can Offer
Fri, 30 Jul 2010 20:44:00 GMT
Posted To: Mortgage Rate Watch I think it's safe to say that, consistently for the last 30 to 45 days, at least one lender (regional, major, or independent) has offered below market "record low" mortgage rates. Investor demand is consistently healthy for agency MBS, such that their prices are hitting new record highs on a daily basis. No lender faces a shortage of funding, nothing seems to be able to distract mortgage rates from rallying! This situation has forced us to refocus our attention on the competitiveness of the primary mortgage market, instead of closely monitoring every move in the secondary mortgage market (MBS). Here's how I would play it.... The "best executed" lock/float strategy comes down to finding an originator who knows the loan market, studies underwriting guidelines, and...(read more)
USDA Rural Housing Bill Passes; Low-Income Rental Legislation Advances
Fri, 30 Jul 2010 16:23:00 GMT
Posted To: MND NewsWire One government housing program that had run out of funds months ago was revived by Congress yesterday, and another bill targeted at low-income rental housing moved a step closer to approval. The Senate yesterday passed HR 4899 to reestablish the popular U.S. Department of Agriculture Single-Family Housing Guaranteed Loan Program (Section 502 Housing) as a self-sustaining program. Also, the House Financial Services Committee approved H.R.4868 , the Housing Preservation and Tenant Protection Act of 2010 which aims to stem the loss of affordable rental housing units and prevent the displacement of low-income tenants. The Rural Housing program had run through its $13.1 billion funding by early this year and many buyers hoping to finance home purchases using Homebuyer Tax Credits were unable to...(read more)
MBS Lower and Wider. Reprices Reported. Buyers Lurking
Fri, 30 Jul 2010 15:10:00 GMT
Posted To: MBS Commentary Rate sheet influential mortgage-backs are experiencing some localized weakness as stocks rally and swaps spreads widen. Nominally, yield spreads have been wider all morning but price levels were still pushing new records because Treasuries were catching a bid, but the poo hit the fan a few minutes ago and prices plummeted. We're still in the green though...just off the session highs. The September FNCL 4.0 is +0-03 at 101+30. The FNCL 4.5 is UNCH at 104-02. The secondary market current coupon is -1.6bps at 3.679. Yield spreads are at the wides of the week. After much rallying, agency MBS appear exhausted, but I doubt this will last long. Buyers have consistently jumped on any sign of weakness...unfortunately I've already seen a few reprices for the worse....(read more)
Evolving Loan Officer Agreements: Mandatory Reserves and Good File Delivery
Fri, 30 Jul 2010 15:05:33 GMT
Posted To: The Garrett Watts Report After visiting over 100 shops in the past 3 years, we haven't really seen anything “new under the sun” in terms of loan officer agreements. Sometimes I think all contractual documents used by mortgage bankers originated from the same source. But more recently we've come across a few approaches that might eventually be considered the basis for new loan officer agreement practices. I’m not necessarily promoting these ideas, but they are worth discussing. The two additions are: (1) Mandatory reserves for future losses as a result of repurchase loan issues or early pay offs and (2) Good File Delivery Standards and Criteria when submitting loans to processing. Let’s dig a little deeper into these additions... Mandatory Reserves : Most agreements have clauses that...(read more)
Rapid Refinance Program: Don't Bet On It
Fri, 30 Jul 2010 13:35:00 GMT
Posted To: Pipeline Press The economy is so bad, I bought a toaster oven and my free gift with purchase was a bank...If the bank returns your check marked "Insufficient Funds," you call them and ask if they meant you or them...Angelina Jolie adopted a child from America...My cousin had an exorcism but couldn't afford to pay for it, and they re-possessed her..When Bill and Hillary travel together, they now have to share a room. The economy is indeed slow, generally speaking. So slow that conjecture is being openly discussed regarding yet another massive government-sponsored refinance/modification plan . I ignored them for a day or two, but figured I'd mention it anyway. Morgan Stanley put out a research piece suggesting a "change" to mortgage refinancing requirements: "The Fed and market...(read more)
The Day Ahead: Q2 GDP, Consumer Sentiment, Stocks Testing Support
Fri, 30 Jul 2010 12:29:00 GMT
Posted To: MBS Commentary A busy day awaits the markets as investors get their first look at second-quarter GDP. Also in the store is the influential Chicago Business Barometer which gives an update on how the economy is recovering in the midwest, plus a consumer sentiment index for the nation at large. While investors wait for the GDP report, headlines are focusing on an IMF report which said the U.S. financial system may need $76 billion in fresh capital to recover. “The findings, released today as part of a broader IMF report on the U.S. financial system, suggested that while the nation’s banking system is stable, it remains vulnerable,” reports Bloomberg News. “Home prices, commercial real estate loans and economic growth have the potential to cause shocks that could expose banks to more...(read more)
Treasury Auctions Done. Bonds Cautiously Resilient as Stocks Repeat History
Thu, 29 Jul 2010 17:09:00 GMT
Posted To: MBS Commentary Treasury just sold $29 billion 7s to a group of uninterested buyers... Auction demand as measured by the bid to cover ratio was below average. 2.78 bids were submitted for every 1 accepted by Treasury. Compare that to the ten auction average of 2.81 and the five auction average of 2.86. 25.6% of the issue was awarded at the high yield of 2.394%. This was 2.1bps above the 1pm "when issued" bid, a sign that buyers were looking to pay a little less than they did. Primary dealers took down a much greater award than usual, which explains why the high yield tailed. 48.8% of the issue and 25.1% of what they bid on. Both metrics are above average. This is not indicative of strong buyside demand. Directs were awarded 8.9% of the competitive bid. That makes them 0 for 3 this week. Indirects...(read more)
Fannie Mae Preps Investors for Reform. Book of Business Reflects Tight Credit Conditions
Thu, 29 Jul 2010 16:31:37 GMT
Posted To: MND NewsWire In the wake of the passage of Wall Street Reform, which many opponents have criticized Capitol Hill for failing to deal with the future of Fannie Mae and Freddie Mac, the Obama Administration is beginning to present the broad outlines of how the future of the GSEs will be determined. In a letter released Tuesday , David H. Stevens, acting commisioner of the FHA, said that the question of reforming the GSEs is "not if, but when." The Obama administration, he said, has made it clear from the beginning that the current structure of the government's role in the housing finance market is unsustainable and unacceptable, but winding down Freddie and Fannie abruptly would destabilize an already fragile housing industry and put the loans already on the books of these institutions at even...(read more)
Are HECM Regulators Acting Unethically Toward the Reverse Mortgage Program?
Thu, 29 Jul 2010 16:06:00 GMT
Posted To: Community Commentary I recently spoke on two interesting panels at the American Conference Institute’s two day symposium on Reverse Mortgages. The conference was held at the famed Helmsley Park Lane Hotel in the heart of Manhattan. The conference attracted a virtual who’s who in the mortgage and reverse mortgage industry. The speakers and the attendees formed an eclectic group which ranged from major law firms, title companies, quality control experts, compliance examiners, HECM counseling experts and state and federal regulators and various enforcement agencies. There was a genuine desire to understand the program so that enacted policy could be effective. On the first day of speaking, I was joined by Dave Adkins, OTS, Matthew Yoon, Esq. and Arthur Axelson, Esq. I pointed out that HERA could prevent...(read more)
Final Ruling Issued on SAFE Act; Underwriting Guideline Overlays, Adverse Market Fees and Steep LLPAs; CMBS Sales; California State of Emergency;
Thu, 29 Jul 2010 13:51:14 GMT
Posted To: Pipeline Press On a non-mortgage note, my son asked me, "At what age is it ok to tell a highway that it is adopted? At some point the highway will realize that it doesn't look like the Kiwanis's Club." I would have told him to "keep his day job", except he doesn't have one as he prepares for college. Lots of folks don't have jobs, as re-emphasized by this morning's Initial Jobless Claims number. One industry veteran told me, "The weekly number is just catnip for those who think the economy is limping along," and this morning's numbers came in down 11,000 to 457,000, but continuing claims climbed. Employment is still a huge issue for the economy, but the unemployment situation is certainly helping to keep rates low. We are not done with implementing the...(read more)
Vacancy Rate Near Historic High. America Has a "Home Problem"
Thu, 29 Jul 2010 13:33:00 GMT
Posted To: MND NewsWire As we have pointed out over the last few weeks , America has a homelessness problem; over a million individuals and families are temporarily or chronically homeless. While the statistics don't fully address this aspect, there is at least anecdotal indication that some of these people are in shelters or on the street because their own home or one they were renting was foreclosed. There is also purely anecdotal information that a lot more homeowners are hanging on by their fingernails; savings and unemployment exhausted, legal remedies gone, as lenders churn through a backlog of pending foreclosures and subsequent evictions. In other words, the problem could well get worse. It is also clear that the country is deep into what we are going to abuse poetic license to call a "home problem...(read more)
The Day Ahead: Moody's Questions U.S. Credit Rating. Bonds Shrug Off News
Thu, 29 Jul 2010 12:30:00 GMT
Posted To: MBS Commentary Equity futures are trading higher this morning despite word from Moody’s that it would have to question America’s triple-A credit rating unless it provides a credible plan to tackle its growing deficit. Steve Hess , a top sovereign debt analyst at Moody’s, said the U.S. appears to have “no plan” to reduce the deficit. “Can the United States do it is the big question right now and we are not sure either way,” he told Dow Jones Newswires. “We will wait and see what happens in the next couple of years on this front.” Meanwhile, economic confidence in Europe rose for a second straight month to its highest level in more than two years. The July index rose 1.3 points to 101.3. Economists at BMO said the populace may be “heartened by the...(read more)
Can Mortgage Rates Go Any Lower?
Wed, 28 Jul 2010 20:16:00 GMT
Posted To: Mortgage Rate Watch Well, here we are on "hump day" and mortgage rates are still detached from the price fluctuations of the secondary mortgage market. Instead, the ups and downs of consumer borrowing costs continue to be driven primarily by the capacity constraints of major lenders, the market makers for mortgage rates. One misconception is record low mortgage rates have drawn out a hoard of "fence sitting" borrowers who are bustling with excitement to refinance. Yes, media coverage of record low mortgage rates has attracted attention from some homeowners, but the crowds just don't compare to the mini-frenzy we witnessed in early 2009. This tells us the capacity constraints of major lenders are not totally due to an increase in loan applications. With the larger lenders allocating newly...(read more)
Is There Life After the Mortgage Business?
Wed, 28 Jul 2010 19:33:38 GMT
Posted To: The Garrett Watts Report We all know the mortgage business can be extremely profitable at times. We also know it can be disastrous at other times. Regulators and law makers have created an environment that makes us feel like a pin ball, bouncing aimlessly from one bumper to another Regardless of all these issues, most mortgage lending professionals stay in the business too long and never retire. I recently had the opportunity to talk to an “old timer”. He is in his mid-70s and still looking for an opportunity to manage/operate a company again. While his previous companies were well run and profitable, I was perplexed as to why he wished to do it all over again at the age of 75, especially in this environment. I had the opportunity to chat with a younger mortgage banker who had already sold a company, made...(read more)
FHA Ready to Reduce Seller Concessions. HUD Invites Industry Comment Before Implementation
Wed, 28 Jul 2010 19:18:00 GMT
Posted To: MND NewsWire HUD is preparing to implement a few new policies that will no doubt affect your pipeline/loan application process. Last week, HUD and the FHA invited public comment on three of those policy changes, which are part of FHA's strategy to "strengthen their capital reserves". The proposed changes which are either tweaks to other recent revisions or have been telegraphed by FHA and HUD in earlier Congressional testimony, notices to lenders, or press releases will: Update the combination of credit and down payment requirements for new borrowers Reduce allowable seller concessions from six to three percent. Tighten underwriting standards for manually underwritten loans FHA has been scrambling to strengthen its financial situation since an audit late in 2009 showed that the capital ratio...(read more)
Beige Book: Mixed Reads on Economy. Housing Market Definitely "Sluggish"
Wed, 28 Jul 2010 18:24:00 GMT
Posted To: MND NewsWire The Federal Reserve has released the Beige Book The Beige Book is a compilation of anecdotal information and data on current economic conditions across the country. The findings are NOT THE VIEWS OF FEDERAL RESERVE OFFICIALS ...instead, each Federal Reserve bank interviews key business contacts, economists, market experts, and other sources in their specific district. This report is published eight times a year. They call it the Beige Book because its Beige . This edition was prepared at the Federal Reserve Bank of St.Louis and is based on information collected on or before July 19, 2010. Below is a summary of the findings and a few excerpts on bank lending and housing. I called attention to some of the more important observations. Economic activity has continued to increase, on balance, since...(read more)
MBS Prices Hit New Record High After 5-Year Note Auction
Wed, 28 Jul 2010 15:44:00 GMT
Posted To: MBS Commentary Mortgages are on a serious run... Front-month TBA levels set yet another new record high this morning and yield spreads continued to tighten vs. benchmarks (thx swaps!). While the street more than likely sees the current coupon in the +55/10s range, my weighting on the 4.0 has the current coupon closer to +68/10s. No matter how you slice it, mortgage valuations are rich, and everyone still wants to own agency MBS cash flows. READ WHY . It looked like we might see some directional movement yesterday, but that was a false alarm vols quickly deflated. After a few rounds of profit taking in the mid-morning hours, buyers quickly re-flooded the market, looking to take advantage of the slightest bit of weakness. In terms of origination flows, 4.50 coupons are still the most active 30yr paper. That...(read more)
Home Builder Rankings; Updates from HUD and Fannie Mae; Home Ownership Stats; FHA Sanctions;
Wed, 28 Jul 2010 15:25:04 GMT
Posted To: Pipeline Press Let me start off by saying that I do not believe the rumor that the International Olympic Committee has taken back skier Lindsey Vonn's gold medal, and instead awarded it to President Barack Obama, announcing that no one has ever gone downhill faster than he has. While we're talking about going downhill, here's one list on which you do not want to your name on.... The Federal Housing Administration's Mortgagee Review Board (MRB) announced dozens of administrative actions against FHA-approved lenders who failed to meet its requirements. This year alone, the MRB took nearly 1,500 administrative sanctions against lenders, including reprimands, probations, suspensions, withdrawals of approval, and civil money penalties. READ MORE On the positive side, the folks at HUD are presenting...(read more)
Refinance Demand Takes a Break While Purchase Apps Search for Bottom
Wed, 28 Jul 2010 13:25:00 GMT
Posted To: MND NewsWire The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 23, 2010. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a snapshot view of consumer demand for mortgage loans. In a low mortgage rate environment, a trend of increasing refinance applications implies consumers are seeking out a lower monthly payment. If consumers are able to reduce their monthly mortgage payment and increase disposable income through refinancing, it can be a positive for the economy as a whole (creates more consumer spending or allows debtors to pay down personal liabilities like credit cards). A falling trend of purchase...(read more)
The Day Ahead: Durable Goods, Beige Book, 5-Year Notes
Wed, 28 Jul 2010 12:26:43 GMT
Posted To: MBS Commentary Equity futures are flat this morning ahead of the durable goods report for June and the Federal Reserve’s Beige Book, a summary of regional economies across the country. Ninety minutes before the opening bell, Dow futures are trading 1 point higher at 10,495 and S&P 500 futures are up 0.25 points to 1111.25. The 2-year Treasury note is UNCH at 99-31 yielding 0.645%. The benchmark 10-year note is +0-04 at 103-29 yielding 3.036%. The 2s/10s curve is 2bps flatter at 239bps. The September Delivery FNCL 4.0 is +0-03 at 101-15. The FNCL 4.5 is +0-03 at 103-25. The secondary market current coupon is 1.2bps lower at 3.747%. Yield spreads are wider to start the session. Key Events Today: 7:00 ? The just-released weekly Mortgage Applications Index , a measure of mortgage loan application volume...(read more)
Mortgage Rates Still Immune to Rising Benchmark Yields
Tue, 27 Jul 2010 23:08:00 GMT
Posted To: Mortgage Rate Watch A much better than expected read on New Home Sales helped the stock market post strong gains yesterday. Typically, when stocks advance, their gains come at the expense of interest rates. While benchmark Treasury yields have risen over the last week, mortgage-backed securities have managed to retain their “flight to safety” bid. MBS prices are holding steady near record highs and mortgage rates are holding steady near record lows. A "flight to safety" occurs when investors are nervous about owning risky assets like stocks but do not want to miss out on earning returns on their funds, so they move their money into risk-free U.S Treasury debt and agency MBS to provide a safe-haven AND an investment return. To remind readers, as benchmark Treasury yields fall, prices of mortgage...(read more)
Dealers Prop 2-Year Auction Demand. Assessing Lender Reprice Potential
Tue, 27 Jul 2010 17:51:00 GMT
Posted To: MBS Commentary The Treasury just auctioned $38 billion 2-year notes . This auction amount is $2 billion less than the previous auction, $4 billion less than the May auction, and $6 billion less than the record $44 billion auction in April. The bid to cover ratio, a measure of auction demand, was 3.33 bids submitted for every one accepted by Treasury. This is above average but lower than the 2-year note auction in June. 88% of the issue was taken down at a high yield of 0.665%. While this is a new record low for the "high yield" at a 2-year note auction, it was still almost 1 basis point higher than the 1pm "When Issued" yield. Indicating buyside demand was lacking. Both direct and indirect bidders were awarded below average takedown percentages. Directs took 13.5% of the issue, below both...(read more)
FHA Penalizes Over 1,000 Lenders for Violating Regulatory Standards
Tue, 27 Jul 2010 17:47:34 GMT
Posted To: MND NewsWire The Federal Housing Administration's Mortgagee Review Board (MRB) has revealed a list of over one thousand lenders against whom it has taken action over the last several months for violations of the agency's program requirements. Infractions ranged from failing to notify the Department of Housing and Urban Development of changes in license status or office closures, improperly displaying FHA seals on company websites or advertising materials, and using non-employees to process loans, to failing to properly process or document credit, employment and appraisal information. The actions taken by the Board included permanent withdrawal of FHA lending authority, suspensions, and fines ranging into the high six digits. "Lenders should know by now that FHA will not tolerate fraudulent...(read more)
Buyback Risk Locks Some Borrowers Out of Refi Market; Jawboning on Fannie and Freddie; Anecdotes from the Trenches;
Tue, 27 Jul 2010 17:31:00 GMT
Posted To: Pipeline Press One patient came in and said, "Doctor, I have a serious memory problem." The doctor asked, "When did it start?" The man replied, "When did what start?" That line is short and to the point. Generally speaking, markets like news when it is short and to the point - borrowers are different than traders, who are different than investors, who are different than analysts, who are different than economists. So when the Fed Chairman uses the double adjective "unusually uncertain" to describe the economic outlook, one's opinion, and how one reacts to that quote from last week's testimony, will be different. There is no question that rates are great, and much better than many had forecast for this time of year. But if the Federal Reserve doesn't know...(read more)
Housing Finance Reform Now in Focus for Obama Administration
Tue, 27 Jul 2010 14:26:00 GMT
Posted To: MND NewsWire Much to the surprise of many pundits, the recently signed Financial Reform Bill did not outline guidelines for regulators to begin crafting the future of Fannie Mae, Freddie Mac, and Ginnie Mae. Although this was viewed as an oversight by most, it was the right move because it will allow our political and financial leadership to focus on FIXING THE BROKEN HOUSING FINANCE SYSTEM In April, Treasury outlined their "Housing Finance Reform" objectives . The administration's proposals will be designed to achieve four objectives. Mortgage credit should be available and distributed on an efficient basis to a wide range of borrowers. A well-functioning housing market should provide affordable housing options, both ownership and rental, for low and moderate-income households. Consumers...(read more)
Real-Estate Articles from EzineArticles.com
Getting the Best Real Estate Agent
Fri, 30 Jul 2010 21:36:36 -0500
Are you looking to find a new apartment? A great way to find an apartment with good deals is to hire an agent to help you find what you want. Agents can help you find deals you may not have found on your own.
Live Where You Work and Play
Fri, 30 Jul 2010 15:12:01 -0500
Spending your life in a car commuting to work or school is a giant waste of time. For some it is absolutely unavoidable, for others a move might make things more convenient. If at all possible live where you work and school and play.
Market Conditions in the Houston Area For June 2010
Fri, 30 Jul 2010 15:04:50 -0500
The Houston Association of Realtors (HAR) recently released the real estate sales figures for the Houston area. The results of HAR's report varied region-to-region, with some northeast Houston areas experiencing increased sales while others showed a decrease.
Lies, Damned Lies & Statistics
Fri, 30 Jul 2010 14:47:44 -0500
It's not always as easy as it seems, but it is absolutely essential for estate agents to have a clear, sound understanding of the things that impact on their local market. A good real estate agent needs to be able to counter balance the views of the "commentators" and be "a local expert"!
How to Set Up Your Rental Property Video Marketing Program - 6 Elements of Successful Video Rentals
Fri, 30 Jul 2010 14:15:51 -0500
Video has gone big on the Internet. The stats are in on video for renting apartments and rental homes. If you aren't doing it, you are missing out on closing more rental and more secure revenue. So, let's get serious about what the elements of a successful video rental program are.
Real Estate Deals - Details
Fri, 30 Jul 2010 13:49:09 -0500
When it comes to real estate property details, most of the investors would be searching for several methods to sort out the deals without having to worry about credit and financial issues. All most all the transactions are subjected to real estate deals. Basically subject to real-estate deals are regarded as the best method to purchase or buy real estate properties through leaving existing mortgage of seller in its place.
Significance of Historic Properties in the Real Estate Sector
Fri, 30 Jul 2010 13:03:30 -0500
The historic properties have much significance in the field of real estate. If you are planning to buy such a property, there are a few things that you should know. The advantages associated with owning such a property makes the deal a good option for a large number of people.
Real Estate Buying - A Few Vital Documents
Fri, 30 Jul 2010 13:03:10 -0500
There are a few people who fail to produce documents on time while they are trying to buy a new home. This can result in a delay in the finalization of the deal. Going through this article would surely help you with on-time submission of documents.
Real Estate - Tips and Tricks
Fri, 30 Jul 2010 13:02:22 -0500
Irrespective of any kind of business investment, the first concern that would arise in mind of investor is safety of the investment. As a result of development in fast paced market, one can't be sure of better returns on his investment. On the other hand, an investment in real estate business is regarded as safe and profitable business at all times.
Is Real Estate Investment the Most Lucrative Investment Form Today?
Fri, 30 Jul 2010 13:00:19 -0500
Today investments in real-estate business is regarded as one the most profitable investments. But at the same time it's accompanied with equally bound financial risks, especially when an investor isn't well versed with prevailing trends of real-estate market. So in case if you are considering investing your money in real estate business, then it is essential to avoid most common costly mistakes.
Is Investing in Real Estate Business a Profitable Option?
Fri, 30 Jul 2010 12:56:26 -0500
When you start your business as an investor, it is better to search for bad or ugly houses which need lot of construction work. These houses can be purchased easily as they are available at affordable prices, though the investor will have to invest on improvement or maintenance of house at later stages. In case if investor thinks that he can handle the clean up, painting and renovation process then it would considerable amount of money in the end.
How To Make A No Credit No Cash Real Estate Deal
Fri, 30 Jul 2010 12:55:20 -0500
The main benefit of seeking help from a real estate is that, you do not have to worry about the financial matters as well as the credit ranking. If you are making an investment, you must have a look at the current real estate rates as well as the rates in the market.
How Important the Rooms Are in Property Value Assessment in Today's Real Estate Market?
Fri, 30 Jul 2010 12:45:11 -0500
The property value assessment is a crucial factor when it comes to ensuring maximum profit from real estate investments. There are several factors to be considered while assessing the value of a particular property. Let's have a look at how the available rooms become important here.
Where to Get Vital Real Estate Knowledge From?
Fri, 30 Jul 2010 12:44:11 -0500
A key factor for running a Real Estate business effectively is to have in depth knowledge of every aspect of the market. A thorough knowledge of the market trends, growths, developments and strategies that are being enforced in the market currently are referred to as market knowledge. A good real estate investor will have knowledge of the complete package and will keep updating on these parameters.
What Are Some of the Recent Trends in the Real Estate Sector?
Fri, 30 Jul 2010 12:43:18 -0500
The trends are important when it comes to effectively dealing with the real estate industry. It is necessary to find out about the recent advancements for surviving in the field. The 'Open Floor Plans' are an example of the recent developments in the sector of real estate.
Yahoo! Finance: Mortgage News
What to do with a reverse mortgage if you remarry (at MarketWatch)
Thu, 29 Jul 2010 22:01:00 GMT
If a couple takes out a reverse loan, but then one spouse dies and the survivor remarries, it's time to give the lender a call. Even though reverse mortgages are nonrecourse loans, there are reasons to consider refinancing into a new loan.
Fixed-rate mortgage rates drop for sixth week (at MarketWatch)
Thu, 29 Jul 2010 08:52:00 GMT
The interest rates charged on fixed-rate mortgages inch down to a sixth straight weekly record low, according to Freddie Mac’s latest survey of conforming mortgage rates.
Cash-in mortgage refinancings rise: Freddie Mac (at MarketWatch)
Wed, 28 Jul 2010 10:07:00 GMT
The portion of homeowners who brought money to the table for a cash-in refinance in the second quarter tied for the third-highest level since Freddie Mac started tracking refinancing trends in 1985, the housing agency said Wednesday.
A cash-in refinance can cut mortgage costs (at MarketWatch)
Sun, 25 Jul 2010 22:01:00 GMT
Cash-out refinancing gained popularity when home values were rising fast, and homeowners wanted to tap their home equity to put money in their wallet. Today, some borrowers are doing the reverse, bringing cash to the closing table when they refinance their home loan.
Foreclosures hit neighborhood home prices (at MarketWatch)
Fri, 23 Jul 2010 12:14:00 GMT
A foreclosure reduces the value of a home by an average 27% -- a much higher discount than occurs with other types of forced sales, according to a recent study that will be published in the American Economic Review.
Keep your home-equity line of credit from freezing (at MarketWatch)
Thu, 22 Jul 2010 22:01:00 GMT
For starters, as long as you are current on your payments, lenders cannot demand that you pay down your balance, even if you are fully drawn. All lenders have to abide by their contracts with borrowers, and home-equity lenders are no different.
Bank reform brings mortgage aid for the unemployed (at MarketWatch)
Wed, 21 Jul 2010 22:01:00 GMT
More help is on the way for unemployed homeowners struggling to make their mortgage payments, thanks to funding tucked into the financial reform legislation signed by President Obama on Wednesday.
Pricing your home to sell in today's market (at MarketWatch)
Sun, 18 Jul 2010 22:30:00 GMT
With no federal tax credit to entice buyers, today’s home sellers have to get even more serious about making a deal.
Do you regret buying your home? Most people don't (at MarketWatch)
Fri, 16 Jul 2010 14:13:00 GMT
In a housing market like this, you’d expect a good deal of buyer’s remorse out there. But 90% of homeowners say they don’t regret buying their current home, according to a survey released this week by Bankrate.com.
Short sales get lender scrutiny for a reason (at MarketWatch)
Thu, 15 Jul 2010 22:01:00 GMT
Even if a buyer is ready and waiting, a lender still may decline a short sale, even if the homeowner is struggling to pay his mortgage. It all comes down to cold, hard math.
Mortgage applications to buy homes hit 14-year low (at MarketWatch)
Wed, 14 Jul 2010 05:00:00 GMT
The number of mortgage-loan applications for home purchases dropped to its lowest level in 14 years last week, the Mortgage Bankers Association said Wednesday.
Selling a condo? Better hope it's 'approved' (at MarketWatch)
Thu, 08 Jul 2010 22:01:00 GMT
A reader writes: I own an apartment in a condominium development that I am trying to sell. I have a potential buyer who wants to use an FHA loan because of its low down-payment requirements, but he says my project is not on FHA's "approved" list.
Mortgage rates hit new record lows (at MarketWatch)
Thu, 08 Jul 2010 11:10:00 GMT
The 30-year fixed-rate mortgage has hit a record low, ticking down to an average 4.57% in week ended July 8, compared with 4.58% in the prior week, the latest interest-rate data compiled by Freddie Mac indicate.
Home buyers win more time to claim tax credit (at MarketWatch)
Fri, 02 Jul 2010 09:08:00 GMT
President Barack Obama signed Friday morning a three-month extension on the deadline for home buyers to obtain a federal home-buyer tax credit of up to $8,000.
Complex questions on reverse mortgages (at MarketWatch)
Thu, 01 Jul 2010 22:01:00 GMT
An elderly couple own their home outright, and their adult children need cash. How would a reverse mortgage affect the couple's taxes, and their Medicare or Medicaid eligibility? Lew Sichelman offers some answers.
Record-low mortgage rates -- who cares? (at MarketWatch)
Thu, 01 Jul 2010 13:19:00 GMT
Mortgage rates recently hit record lows, boosting affordability for homes. If you even care.
Home buyers close to extended tax-credit deadline (at MarketWatch)
Thu, 01 Jul 2010 10:34:00 GMT
Home buyers are close to gaining more time to obtain a federal home-buyer tax credit of up to $8,000.
Freddie Mac: 30-year fixed-rate mortgage avg 4.58% (at MarketWatch)
Thu, 01 Jul 2010 08:38:00 GMT
The 30-year fixed-rate mortgage average falls to a record low of 4.58% for the week ending July 1, Freddie Mac reports.
New deadline for home-buyer credit nears approval (at MarketWatch)
Wed, 30 Jun 2010 13:33:00 GMT
Home buyers may soon win more time to get to the closing table to qualify for a federal home-buyer tax credit of up to $8,000.
Reverse mortgages now less costly (at MarketWatch)
Sun, 27 Jun 2010 22:01:00 GMT
Upfront fees on reverse mortgages have fallen substantially in recent months, giving homeowners interested in this product a new challenge: how to best compare offers to find the best one.
Home Equity on Google News
Reverse Mortgages Aren't Catching On - U.S. News & World Report (blog)
Fri, 30 Jul 2010 15:06:58 GMT+00:00
Americans Tap $8.3 Billion in Home Equity, Least in a Decade - Bloomberg
Wed, 28 Jul 2010 14:49:37 GMT+00:00
What's Money Anyway? Ask SILA.OB, BAC & CACB!! from Stock-PR.com - TMC Net
Sat, 31 Jul 2010 02:09:25 GMT+00:00
A new definition of wealth - Boston Globe
Fri, 30 Jul 2010 14:20:09 GMT+00:00
Interest Rate Roundup home equity - Bankrate.com
Thu, 29 Jul 2010 10:18:16 GMT+00:00
Mortgage Rates: Aimloan & Amerisave 30 Year Mortgage Rates at 4.25%, Quicken ... - MonitorBankRates.com
Sat, 31 Jul 2010 13:21:04 GMT+00:00
CORRECTING and REPLACING -- Louisiana Bancorp, Inc. Announces Earnings for the ... - MarketWatch (press release)
Fri, 30 Jul 2010 18:11:17 GMT+00:00
BofA Merrill to sell $92 mln reverse mortgage RMBS - Reuters
Wed, 28 Jul 2010 15:33:52 GMT+00:00
U.S. “Home Equity” Loans Revealing - Benzinga
Wed, 28 Jul 2010 19:53:05 GMT+00:00
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U.S. “Home Equity” Loans RevealingBenzingaA Bloomberg headline today read “Americans Tap $8.3 Billion in Home Equity, Least in a Decade”. This is indeed a very news-worthy figure. ... |
'Five Smart Reasons to Buy a Home Now' - PR Newswire (press release)
Thu, 29 Jul 2010 13:31:46 GMT+00:00
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