hard money loan: mortgage crisis: bad phase of the bottoming of the real estate - 02/26/08 01:16 AM
Correction Appended An investigation into the mortgage crisis by New York State prosecutors is now focusing on whether Wall Street banks withheld crucial information about the risks posed by investments linked to subprime loans. Reports commissioned by the banks raised red flags about high-risk loans known as exceptions, which failed to meet even … (0 comments)
hard money loan: loan originators how much you made last year - 09/02/07 03:35 PM
How much did you make last year? (That was a rhetorical question.) The president of Countrywide earned $48 million, the president of Freddie Mac $15 million, WAMU $8 million, Indy Mac $4 million. According to Goldman Sachs and Wells Fargo, jobless subprime mortgage lenders are looking for employment in the booming market … (3 comments)
hard money loan: Facing Foreclosure in California?...Call for help - 08/26/07 07:12 PM
Facing Foreclosure in California?...Call for help Kandola Mortgage Services launched a Foreclosure Hotline this week. It's purpose is to assist people who are delinquent on the mortgages. Counselors will act as intermediaries between homeowners and lenders, to work out a game plan, help organize finances, avoid scams, reduce potential liability and … (0 comments)
hard money loan: lender rumour/ lender crisis - 08/19/07 02:04 AM
Countrywide said that "disruptions in credit and secondary mortgage markets pose a risk to the company and could hurt its financial condition in the short-term". CW made the disclosure in a filing with the Securities and Exchange Commission, supplementing other "risk factors" the company had outlined in its annual report. Payments were … (0 comments)
hard money loan: meltdown lenders: higher standard guidelines - 08/19/07 02:00 AM
RFC changed their Jumbo A, Expanded Criteria, and Payment Option pricing adjustments. WAMU ceased doing any low-doc transactions whatsoever with FICO's less than 680 and LTV's greater than 65%. MortgageIT discontinued their No Ratio, No Doc, and SISA loans for several of their products. Greenpoint stopped taking locks entirely on their Alt-A Fixed and … (0 comments)
hard money loan: arm to blow out ! foreclosure to come out .. every where. - 08/05/07 04:17 AM
Who were the big originators in the first quarter of 2007? Countrywide did $115 billion, Wells did $68 billion, and Citi was third with $55 billion. (So yes, Countrywide did almost as much as Wells and Citi combined for January through March.) Industry-wide the first quarter of 2007 was down about … (0 comments)
hard money loan: terms of hard money loans - 05/06/07 03:59 AM
Here are terms of a HARD MONEY LOAN.Interest rates vary between 8.50%* and 15.00%*, depending on the investor, borrower qualifications, loan amount and purpose, property type, location, lien position, term, prepay period (if any) and any applicable state law; Terms vary between 6 months and 20 years, mostly interest-only (some … (0 comments)
hard money loan: when do we use hard money loan - 05/06/07 03:56 AM
HARD MONEY is really good if used wisely !Purchase real estate - with a sufficient down payment (25% or more), you can secure a new 1st mortgage with a hard money loan. Refinance a loan - hard money loans to obtain cash from equity, pay off a balloon mortgage, refinance a … (0 comments)
hard money loan: what is a hard money loan ? - 05/06/07 03:54 AM
Hard Money loans is an effective way of getting fast money with almost no documentation. Hard money loans are collateral-based real estate loans made by private investors instead of banks. These loans fill a need for funding when banks won't lend for any reason, there are credit problems, or there isn't time … (3 comments)
hard money loan: who would reign the sub prime market, is it the big financial institution - 04/09/07 12:56 AM
We have lost a big sub prime lenders like Century, Ownit-It, owned and managed by the best in the mortgage industry. Is the congress trying to tie up a secret merge by a big financial institution like Goldman Sachs, Merril Lynch, Bear Stearns, Citi Group to bail-out this company, and … (0 comments)
hard money loan: FAST foreclosure looming in Las Vegas, NV - 04/07/07 06:07 AM
A recent data came out that in Las vegas, NV over 240 houses are going to foreclosure everyday ! That is really an alarming rate, especially for the city which has churned over 50% appreciation for the past 2 years. The potential movement of the foreclosure is really preity alarming, … (3 comments)
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