subprime: FHASecure: The Solution to Foreclosure? - 08/31/07 05:33 PM
President Bush today announced FHASecure, a new FHA refinance program designed to help trouble homeowners keep their homes. The new program should provide an option for at least some of those people headed into foreclosure due to interest rate resets and skyrocketing mortgage payments. Who will benefit? Hard to say … (2 comments)
subprime: “Check Your Appraisal” - 08/24/07 10:19 PM
….was the heading on yesterday’s email from Wells Fargo Wholesale. This is a heads-up to Realtors and home buyers… Fast Rewind In mid July, FannieMae issued Announcement 07–11, entitled Collateral Valuation Practices and Declining Markets. Here are several key points from the memo: FannieMae’s Desktop Underwriter (DU) Version 5.7 released July … (37 comments)
subprime: Words of Wisdom from a Mortgage Veteran - 08/20/07 02:39 PM
These words of wisdom came in the form of a Monday morning email from fellow loan officer and mortgage broker Dave Ryland. Dave was a seasoned professional when I got into the business 18 years ago. Through good and bad markets, Dave has lived and demonstrated the kind of integrity & professionalism that … (3 comments)
subprime: Wells Fargo Slashes More Subprime Jobs, Heads for the Exits - 03/22/07 12:15 AM
This news hit yesterday in the Associated Press: Wells Fargo cuts 500 jobs in mortgage unit Tougher standards means bank will be handling fewer subprime loans Updated: 12:13 p.m. PT March 20, 2007 SAN FRANCISCO - Wells Fargo & Co. is eliminating more than 500 jobs in a division that … (4 comments)
subprime: HSBC Announces Pull Back on ALT A 100% Financing - 03/21/07 02:11 PM
…more 100% financing evaporates, this time from HSBC and affecting what we call ALT A.-not “A paper”, but not quite subprime either. Keep an eye on your 100% financing, even if it is already approved. If your lock expires before you can close, you may be without a loan. … (0 comments)
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President Bush today announced FHASecure, a new FHA refinance program designed to help trouble homeowners keep their homes. The new program should provide an option for at least some of those people headed into foreclosure due to interest rate resets and skyrocketing mortgage payments. 
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