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• REOs Short Circuited by Short Sales May 27, 2012
  In New York last week, I got the chance to sit down with Fred Katayama of Reuters to discuss the foreclosure numbers, which show that bank repossessions (REOs) dropped to a 49-month low in April. Source:REOs Short Circuited by Short Sales Related posts: Rejected Short Sale Offer – Common Reason That Short Sales Often Don't Close Nowadays, people [...] R […]
• Mortgage Inquiries Slide Ahead of Holiday May 27, 2012
  Fewer pricing inquiries were pulled by mortgage loan originators ahead of the Memorial Day weekend despite new record-low interest rates. But home purchase financing and government-insured activity held steady. A 6 percent decline in new activity from last week left the U.S. Mortgage Market Index from Mortech Inc. and Mortgage Daily for the week ended May [. […]
• Understanding Reverse Mortgage Insurance Premiums: Is Insurance Really Necessary? May 27, 2012
  Seniors who take advantage of the reverse mortgage programs offered by the Department of Housing and Urban Development (HUD) will be expected to pay two distinct mortgage insurance premiums. The first will be an upfront mortgage insurance premium, or MIP, that is collected by the Federal Housing Administration (FHA) immediately after the loan is closed. [... […]
• Mortgage Broker Processing Advice – Why Hiring Independent External Firms Is Recommended May 27, 2012
  Mortgage brokers are very essential players in any housing industry. There are several brokers in the US housing industry. Source:Mortgage Broker Processing Advice – Why Hiring Independent External Firms Is Recommended Related posts: What Does an Independent Mortgage Broker Do? Even during this credit crunch time and the so called... Independent Mortgage Adv […]
• Will Principal Write-Offs Increase Foreclosure Discounts? May 26, 2012
  There’s a new plan floating around in Washington to end the foreclosure crisis. The thought is that we can keep more people in their homes if we reduce the size of their mortgage debt. Source:Will Principal Write-Offs Increase Foreclosure Discounts? Related posts: Why Lenders Have Begun To Accept Foreclosure Write-Offs The term “cramdown” used to be a [...] […]
• New Business Tumbles at Freddie May 26, 2012
  New business sank to the lowest level since last summer at the Federal Home Loan Mortgage Corp., and the book of business has fallen by more than $100 billion during the past year. While there was no change in the rate of residential delinquency, performance on apartment loans deteriorated. The McLean, Va.-based company reported that purchases [...] Related […]
• NovaStar Distances Itself from Subprime Era May 26, 2012
  With a new name in hand, NovaStar Financial Inc. is closing the book on its subprime mortgage past. The Kansas City, Mo.-based company disclosed in January 2008 plans to eliminate most of its staff and discontinue retail and wholesale mortgage originations in a move intended to preserve cash and reduce debt. All of its lending licenses were [...] Related pos […]
• How to Pay Off Your Mortgage Early May 26, 2012
  First things first: should we pay our mortgage off early? The answer in most cases is yes. Unless you’re earning a higher return on your investments than your mortgage rate, or your income is so inconsistent you need to keep your investments liquid, then yes, it is advisable you make all effort to pay your [...] Related posts: 7 Steps to Pay Off Your Mortgag […]
• MBS RECAP: Uneventful Session, MARKETS CLOSED MONDAY May 25, 2012
  Posted To: MBS CommentaryMBS Live : MBS Afternoon Market Summary There's little to report outside the two words in the title. Today truly was an "uneventful session." Bond markets might have been at more risk had it not been for the news out of Spain that Catalonia (or Catalunya for you MotoGP fans) needs help from the Spanish government to ma […]
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• Short Sale Tax Tip: Mortgage Forgiveness Taxable in 2013 May 25, 2012
  After a bank forgives your mortgage debt in a short sale, your tax problems may not be over. Source:Short Sale Tax Tip: Mortgage Forgiveness Taxable in 2013 Related posts: Video Search Tip: How to Find Short Sale Deals on RealtyTrac With more than 800,000 properties in the foreclosure process, matched... Rejected Short Sale Offer – Common Reason That Short [ […]