This guy says there are 5-6 million people who were or could be homeowners but are on the sidelines - the buy vs. rent equation isn't compelling enough. She says these potential buyers don't have the down payment and don't know about FHA, but she might be guessing. ...
Occasionally, the ivory-tower set comes up with these wacky ideas to have banks share risk with borrowers. Fannie and Freddie may not be interested just due to the complexity, but if a private bank gave it a run with a good marketing push, they might find an...
Last summer I met with an FBI agent to discuss a local realtor. I submitted 32 pages of conclusive evidence that implicated the realtor in committing 19 cases of short-sale fraud. Though the agent said he would pursue it, I never heard from the FBI again. Hat tip to...
Fannie Mae and Freddie Mac are too big, and changes are coming. Beginning on January 10th, the new QM rules take effect - limiting the debt-to-income ratios to 43%, and capping points and fees charged by lenders to 3% of the loan amount. Because lenders will be...
Thanks to daytrip for sending in this story on FHA reducing loan limits: http://www.latimes.com/business/money/la-fi-mo-fha-insurance-limits-20131207,0,3321748.story#axzz2moSfa0DJ As of Jan. 1, the limits for FHA-insured loans in the nation's most expensive areas will...
Hat tip to daytrip for sending in this article from the latimes.com alerting us to the expiring The Mortgage Debt Relief Act of 2007, wrapped around the free cheese in the recent JP Morgan settlement:...
We've heard all the hubbub about higher mortgage rates having a negative effect on the real estate market. But the non-taper has caused rates to come back a bit - we are now down around 4.375% for 30-year conforming rates. For those who had their heart set on having...
Hat tip to daytrip for sending this in from nytimes.com - an excerpt: The power of eminent domain has traditionally worked against homeowners, who can be forced to sell their property to make way for a new highway or shopping mall. But now the working-class city of...
Blackstone Group LP, the private-equity firm that has spent $5 billion on more than 30,000 distressed houses, is preparing to expand its bet on the housing recovery by lending to other landlords. The firm, which already owns more rental homes than any other investor,...
From bloomberg.com: http://www.bloomberg.com/news/2013-06-27/bank-of-america-said-to-send-property-reviews-to-india.html Bank of America Corp. opened a unit in India to review home-valuation reports as it seeks to rebuild share in U.S. mortgages at a lower cost, said...
