mortgage meltdown: What Caused This Credit Crisis? - 08/19/08 08:02 PM
Is it the fact that we are a generation that has to have everything right now! These are comments I'm used to hearing. " I live for today" " I'm keep up with the Jone's" "I'll worry about retirement later"
The Baby Boomer generation has a lot to teach us. Forexample; that … (2 comments)
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mortgage meltdown: Flipping Out For Real??? - 08/14/08 11:23 AM
Please, Please tell me there is someone else out there as strangely addicted to Bravo's "Flipping Out" as I am. While watching the reunion special a few nights ago I started to wonder how much of this is real. Is this guy really as psychotic as he is being portrayed? If … (0 comments)
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mortgage meltdown: The Mortgage Meltdown Continues.. - 08/10/08 08:56 PM
As short sales and ROE's (bank owned properties) begin to flood the market here in Santa Clarita, California and across the nation, I'm beginning to see fewer and fewer traditional home sales.
Recently I read an article by Reuters that the delinquencies of prime mortgages originated in 2007 are outpacing those made in … (0 comments)
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mortgage meltdown: Sharing Is Caring :) - 07/31/08 07:19 PM
Hello,
Thought this would be worth sharing, it comes from a very experienced FHA Mortgage Broker. Hope this helps.
Summary of the "Housing and Economic Recovery Act of 2008"
A. Summary of the "Federal Housing Finance Regulatory Reform Act of 2008
This legislation strengthens and modernizes the regulation of … (3 comments)
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mortgage meltdown: Top Five Cities Surviving The Mortgage Meltdown - 07/30/08 07:13 AM
LUBBOCK, Texas
The birth place of Buddy Holly has an unemployment rate of 3.3%. “Not as many lenders were putting people in homes they could not afford and the local economy has been stable,” says Cade Fowler, association executive for the Lubbock Association of Realtors. Texas Tech University and Lubbock Lake … (0 comments)
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mortgage meltdown: Mortgage Info Realtor's Can Share.... - 07/26/08 01:46 PM
… (0 comments)
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mortgage meltdown: Staring Into A Very Deep Hole - Can The Government Allow Fannie Mae or Freddie Mac To Go Belly Up? - 07/16/08 05:02 PM
Last Friday morning I turned on CNBC to watch the business news and the coverage was centered on the crisis at Fannie Mae and Freddie Mac. As I sat there listening to the talking heads discussing the possibility of Fannie Mae and Freddie Mac going belly up, my own belly was … (23 comments)
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mortgage meltdown: How Top Producers Earn Higher Commissions With Less Clients In a Bad Economy! - 07/14/08 10:41 AM
Many real estate agents, loan officers, and other real estate industry professionals are all experiencing the same thing. They are working much harder for a lot less money, and this is tremendously affecting their ability to plan for retirement. The reason is simple: Commoditization. If you sell anything in today's world … (0 comments)
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mortgage meltdown: Does Fannie Mae and Freddie Mac's Insolvency Spell Financial Doomsday? - 07/14/08 10:29 AM
I was reading an interesting article from Agora Financial which is spelled out in their "Rude Awakening". One part caught my eye as they discussed what is currently taking place in the dual FM liquidity crisis, as presented by Dan Denning, editor of the Australian Daily Reckoning.
Dan talks about Ben … (1 comments)
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mortgage meltdown: Sometimes saying no is the best response - 07/12/08 03:40 PM
Jackson stood at the side of the bed this morning with one though on his mind. "Candy," he uttered proudly and with a broad grin.
The way he said it, with a lengthened first syllable that sounded more like a nasally "Ken" followed by the shortest possible "dee" cracked me up. … (1 comments)
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mortgage meltdown: Lemons or Lemonade - 07/10/08 02:44 PM
Recently I was reading a blog from someone who was a mortgage broker. The blog actually made me depressed, as he was thinking about getting out of the mortgage business due to all of the changes.
I know when I started losing mortgage business, I simply decided to look into … (4 comments)
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mortgage meltdown: Subprime Mortgage Meltdown Leaves Borrowers Facing Crisis - 07/07/08 11:08 PM
Subprime Mortgage Meltdown Leaves Borrowers Facing Crisis
With credit requirements tightening, borrowers have fewer choices in mortgage loans
Sacramento, CA, July 7, 2008-As record numbers of foreclosures pervade the subprime market, lenders are becoming more and more anxious, and as a result, they're tightening their mortgage loan guidelines. These more … (0 comments)
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mortgage meltdown: Subprime Mortgage Meltdown Leaves Borrowers Facing Crisis - 07/07/08 11:04 PM
Subprime Mortgage Meltdown Leaves Borrowers Facing Crisis
With credit requirements tightening, borrowers have fewer choices in mortgage loans
Sacramento, CA, July 7, 2008-As record numbers of foreclosures pervade the subprime market, lenders are becoming more and more anxious, and as a result, they're tightening their mortgage loan guidelines. These more … (1 comments)
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mortgage meltdown: Just Because the Market Stinks Doesn't Mean You Have to! - 07/04/08 05:14 PM
Take CHARGE of those things which influence your thinking, behaviors and actions. Associate with like-minded, successful, and responsible people. They can make a significant difference in not only how you think about money, real estate and wealth, but the association you develop will bring to you more opportunities for finding deals, … (3 comments)
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mortgage meltdown: Dow Headed Towards 10,000 - Why We Have To Play The Blame Game - 06/27/08 11:06 AM
On January 2, 2008 I posted, "Predictions for 2008" where I predicted that Broker Byrant would still be getting 40% of his posts featured here on AR and that sometime during 2008 that the Dow Jones Industrial Average would close at or below 10,000.
I appear to be on track for … (9 comments)
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mortgage meltdown: State of the Nation's Housing 2008: Harvard University Report - 06/27/08 07:21 AM
The Joint Center for Housing Studies of Harvard University recently released its "State of the Nation's Housing" report for 2008. This report offers valuable insight into the complex and challenging nature of the current real estate market.
Included in this report is an overview of the "mortgage meltdown" -- its origins and impact on the … (0 comments)
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mortgage meltdown: Attention Real Estate Investors....... - 06/26/08 01:32 AM
NOW THAT THE RESIDENTIAL REAL ESTATE MARKET "MELTDOWN" HAS BEGUN, WHAT ARE YOU GOING TO DO?
You need to develop an exit strategy for leaving the residential market and turn all those negative cash flow properties into positive cash flow properties. Having the exit strategy is essential and we have it...
… (0 comments)
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mortgage meltdown: Here comes the windfall - 06/22/08 06:29 PM
Over the past couple of years there has been a lot of speculation as to who was responsible for the mortgage meltdown. Was it the appraisers for over estimating the value on properties in order to make a mortgage broker happy? How about the Realtors and mortgage brokers who pushed higher … (6 comments)
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mortgage meltdown: Are credit scores important? - 06/20/08 12:55 PM
Credit Scores - Important?
More than ever!
"What is the credit score?" That is one of the first questions I ask my Loan Officers when they bring a file for me to review. Why you ask? Because it is ALL about the credit scores, in fact it is all about the … (8 comments)
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mortgage meltdown: Bear Sterns Mortgage Fraud Arrests - 06/19/08 11:36 AM
The heads may be starting to roll as a result of mortgage fraud probes. Generally the fraud arrests are focused on the local broker or appraiser. With this new development that was anticipated in the internet news yesterday, and just now announced.
I read the announcement in MSN.com .
This has more … (5 comments)
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mortgage meltdown: Waiting to make that home purchase until the market hits rock bottom? - 06/17/08 11:10 AM
When I think back on all the missed opportunities that I have had in my life, I always think why I didn't act and how things might have been different if I had. If I has purchased Google as an IPO, I'd be incredibly wealthy. At $100, I'd still be very content. $200, … (0 comments)
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mortgage meltdown: The next shoe to drop - 06/13/08 11:04 AM
As home prices continue to fall and REO inventories rise, greater pressure will be on homeowners to walk away from over encumbered property. The next shoe to drop will be "A" paper borrowers that will be pressured to walk away from loans that can not be refinanced and homes that can't … (5 comments)
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mortgage meltdown: Foreclosure Phoneathons Popping Up Nationwide To Combat Mortgage Meltdown - 06/04/08 05:01 PM
The foreclosure epidemic continues to sweep across the United States in a rapid fashion as prices on homes are being forced downward 9.72% as a national average. Fannie Mae offices in Virginia opened a foreclosure call center today, and by 10am, they received over 270 calls. Kexington KY, Denver, CO, Phoenix, … (0 comments)
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mortgage meltdown: Mortgage Meltdown Has Banks and One Major Home Builder Looking For Answers - 06/03/08 11:52 AM
It is no surprise that the banking sector is feeling the pinch right now, amidst a massive nationwide credit crunch, among thousands of new monthly foreclosures and credit card defaults. Standard and Poor recently has downgraded the entire banking sector because of their massive writedowns against credit losses for mortgages and … (0 comments)
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mortgage meltdown: NAR SHould Ban Short Sales - 06/02/08 01:38 PM
***************************************************
Update.....Due to the responce on this post, have contacted our local board and told them I will be forwarding these replys on for their consideration. Comments with solutions would be appreciated..Thanks
***********************************************
What if we just quit....Yes, If we just QUIT..Just QUIT doing short sales...
For one … (208 comments)
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mortgage meltdown: Changes In The Business, The Rules, The Players - 05/23/08 09:45 PM
I see many things are changing.
Be careful of the banks, what will happen when they cannot balance thier sheets any more.
When banks MUST start dumping the foreclosures....when the FED can't cover....
Who will the banks turn to when the FED Can't cover...Who will the FED turn to when it … (5 comments)
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mortgage meltdown: FHA Bill Passes Senate Vote 19-2 - 05/21/08 01:33 PM
An answer to the foreclosure epidemic made some serious headway on Tuesday, as the Senate banking committee voted 19-2 in favor of the FHA bailout program which is proposed to lend $300 billion dollars from the FHA over the next five years, mainly for people that are underwater on their mortgage. … (2 comments)
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mortgage meltdown: Austin Mortgage and Real Estate conditions - 05/20/08 04:39 PM
I just wanted to give you a few points about the current market conditions here in Austin. First, we are not growing as fast as we were a few years ago but we are not a declining market either. In fact Austin was just rated one of the top cities in … (1 comments)
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mortgage meltdown: FHA Bailout Program Voted On Today By Senate Banking Committee - 05/15/08 11:40 AM
Today the Senate Housing Committee will be voting on a final version of the FHA Bailout program that will prevent 500,000 foreclosures, and fund over $300 Billion in new loans over the next five years. The plan is designed to help homeowners who are upside down on their mortgage, allowing them … (1 comments)
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mortgage meltdown: Foreclosure Epidemic Causing Homeowners To Burn Their Houses Down - 05/13/08 08:10 AM
Foreclosures across the country are continuing to rise, as Congress is continuing to find ways to continue the mortgage meltdown. Thousands of foreclosures pop up every month across the United States, however there is even a far worse trend appearing to rear its ugly head. Just in the past few weeks, … (1 comments)
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mortgage meltdown: A Picture Worth a Thousand Words: Reprise - 05/12/08 05:00 PM
I just thought it might be interesting to look at a post I had placed on AR almost a year and a half ago, back on December 21, 2006. At that time it was just good for a laugh, as we were enjoying the high times of a booming market. In … (0 comments)
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mortgage meltdown: Fannie Mae Chalks UP 3rd Quarterly Loss of 2.2 Billion...However Remains Optimistic - 05/06/08 05:02 PM
Mortgage financing giant Fannie Mae posted its 3rd straight quarterly loss today of 2.2 billion dollars, mainly because of fair market value losses in residential housing across the United State. Fannie Mae also reduced its quarterly dividend by .25 cents, which will free up $390 million for the company annually. CEO … (0 comments)
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mortgage meltdown: Countrywide Home Loans Downgraded To "Junk" Credit Rating By Wall Street Analysts - 05/05/08 01:32 PM
Countrywide home loans got downgraded on Friday to a credit rating of "junk" by wall street analysts. Bank of America recently agreed to buy into Countrywide stock, and help them reorganize debt not to exceed $25 billion. The reality however, is that Bank Of America will be holding the portfolio of … (3 comments)
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mortgage meltdown: Foreclosure Containment Postive With Proposed "Short Pay" FHA Loan - 05/02/08 06:05 PM
On Thursday the House Committee approved a new method of handing the foreclosure crisis, entitled "short-pay" loans. This will enable the homeowner to negotiate a payoff with their current lender to accept less then what is owed. The government sponsering entity on this is the Federal Housing Adminstration (FHA), and will … (1 comments)
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mortgage meltdown: Mortgage Interest Rates Slide Down As Loan Programs Become Harder To Qualify For - 04/22/08 01:29 PM
Since late 2006, over 250 banks have went out of business due to the subprime meltdown, and inability to sell their wholesale mortgage notes to wall street investors. Add in defaults, foreclosures, and forebearances, and banks continue to feel the hurt, with having to service these mortgage notes. But a 30 … (0 comments)
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mortgage meltdown: Fannie and Freddie S&P Report - 04/21/08 04:49 PM
Freddie Mac(FRE) and Fannie Mae(FNM) were recently the target of a Standard & Poor analysis report which painted a somewhat grim picture. The report, headed by analyst Victoria Wagner, indicates that FNM and FRE are both facing a possible hit from the mortgage meltdown. The report was recently released as FNM … (0 comments)
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mortgage meltdown: Do you know a Mortgage Mutant? - 04/21/08 11:51 AM
… (0 comments)
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mortgage meltdown: S & L Crisis vs. Mortgage Meltdown: What Happened? - 04/13/08 12:08 PM
Some of us remember the "the savings and loan crisis" of 1989 that swept across the country. Today we are experiencing a similar crisis, known as the "mortgage meltdown." How do these two events compare?
First, what caused the Savings and Loan crisis of 1989? This situation had its roots in … (2 comments)
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mortgage meltdown: Five cities that survive the mortgage meltdown - 04/09/08 11:55 AM
Thestreet .com - website of Jim Cramer and a wonderul articles on the five cities
WAY TO GO TUSCALOOSA
Tuscaloosa, Ala.
The University of Alabama and NorthRiver Yacht Club call this place home. A foreclosure rate of one out of 30,308 demonstrates this local's ability to survive the subprime mess. The unemployment rate is … (2 comments)
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mortgage meltdown: Loan Documents - 04/02/08 05:50 PM
Will our loan packets in the years to come take more trees than the lumber required to build the house? With legislators getting involved in the mortgage problem, we will get more regulations in the years to come. For all you mortgage bankers, what would you like your legislators to do in … (2 comments)
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mortgage meltdown: STEP BACK OBSERVATIONS - FOREST FROM THE TREES - A RAMBLE - 03/28/08 08:56 PM
What a week!
Mortgage foreclosure White Knights targeted by the Florida Attorney General (no surprise there - just why did it take so long?!!!)
CNN special report on the Mortgage Meltdown and it being second only to the Great Depression.
Record foreclosures expected to continue to break records through 2008 and into 2009.
But heck … (0 comments)
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mortgage meltdown: Who IS Responsible for the Subprime Meltdown? I'm to blame! - 03/28/08 04:40 PM
When the financial world starts going south it is human nature to to start pointing fingers and it is always the easiest route to start at the bottom of the totem pole so to speak. To some degree, as many people have come to believe, Mortgage Brokers are responsible but I would … (3 comments)
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mortgage meltdown: California is first to forgive mortgage debt - 03/25/08 12:07 PM
The California Senate has approved a bill which would give homeowners that have had part of their mortgage debt forgiven by their mortgage lenders a tax break. They will not have to pay income tax on the amount that was forgiven by their mortgage lender. This would apply to homeowners that … (0 comments)
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mortgage meltdown: PMI companies pulling the plug on some areas? - 03/21/08 10:24 AM
PMI insurance companies, whose backing is required for borrowers that don't have the traditional 20% down payment requirement, have already cut off 25% of nation's zipcodes. They are refusing to insure home loans in a wide variety of areas. See if your area is listed below for areas that are blackballed on … (18 comments)
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mortgage meltdown: Should You Take Cover or Look For Deals?? - 03/17/08 10:25 AM
The Overseas Markets are going crazy. The mortgage backed securities are being dumped, and no takers are in sight. Bear Stearns, is experiencing an old fashioned Run On The Bank...and there is no cash left, just a few billion dollars worth of now devalued securities that can't be used as collateral … (6 comments)
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mortgage meltdown: Tent cities spring up in LA - 03/17/08 08:57 AM
Just another sign of our struggling economy and the mortgage meltdown. I haven't seen any of these reports on the US nightly news. This news report is from the BBC. I'm going to make sure I tivo the British Broadcasting Channel news program so I can see what's really happening in … (4 comments)
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mortgage meltdown: I have a platform: Your Comments Please - 03/16/08 10:47 AM
This past week I've been interviewed on several metropolitan radio talk shows due, in part, to the national release of my new book, Fight Foreclosure! Tomorrow, I'll have a TV segment on FOX Business News. I'd like to use this opportunity not only to express my outrage and fustration, but to offer … (3 comments)
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mortgage meltdown: Housing Bubble... What's the trouble? (video) - 03/11/08 11:33 AM
Pretty good explanation about some of the things that happened to create our current market.
… (1 comments)
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mortgage meltdown: Citi Home Equity cuts ltv's in declining markets - 03/01/08 01:12 PM
On March 3rd, Citi Home Equity will cut their ltv's from 90% to 85% in areas deemed to be in a declining market. Chase is already tapped at 75%. Crazy, these guys were lending up to 100% ltv 6 months ago.
DebtFreeDave
GetPrequalified.com
DebtFreePartners.com Set up your own MMA and save $3483
… (2 comments)
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mortgage meltdown: ING cut my deal - 02/29/08 03:22 PM
I had a 1.1 million dollar loan with ING the cut my appraisal and dropped my loan amount to $930,000. This is the second time I have been nailed there. I had a 2.5 million dollar appraisal that got cut to 1.5 million. I'm curious if anyone else is running into … (2 comments)
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mortgage meltdown: Horay for the Slowdown!!! - 02/26/08 03:17 PM
For the last six months, all I have heard are doom and gloom reports on how bad the real estate market is. Homes not selling, buyers not buying, everyone going into foreclosure, and the world is ending as we know it. Well after I got over my pity party and realized … (6 comments)
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mortgage meltdown: The joys of remodeling! - 02/21/08 10:31 AM
My house is no longer my home - it's a construction zone! On the first day of remodeling they broke up the ugly white ceramic tile in my hallway and hauled it away. What a mess - I couldn't see my husband or daughter for the grey dust cloud that hovered … (0 comments)
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mortgage meltdown: Mortgage Market Meltdown explained - 02/20/08 01:00 PM
As a follow up to my previous post had to share this after I viewed it today for the first time after a Realtor friend of mine forwarded.
The powerpoint attachment is the funniest explanation of the mortgage meltdown to date.
WARNING: STRONG LANGUAGE USED IN PRESENTATION
… (4 comments)
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mortgage meltdown: 2008: The Year of the Appropriate Mortgage - A Closer Look - 02/18/08 02:16 PM
2008:
The Year Of The Appropriate Mortgage:
A Closer Look
As I last wrote, 2008 is a new year with lots of new resolutions on the horizon. Aside from the personal goals we have all set individually, our government and economic ambassadors have hefty goals to meet as well.
For one, they must salvage and … (2 comments)
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mortgage meltdown: Ask The Underwriter: Finger Pointing - 02/14/08 06:22 AM
Today's underwriting subject is Finger Pointing. I know most of you are asking "What mortgage product is that? I've never seen or heard of that condition? Do you mean when the Underwriter is finger pointing?"
I had a few good underwriting questions I wanted to share with you guys this week. … (3 comments)
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mortgage meltdown: President Bush Signs Stimulus Bill to Increase Mortgage Limits- 2/12/08 - 02/13/08 12:38 AM
The Mortgage Meltdown- spells savings for many. We have all seen it on the news and read about it in just about any newspaper you pick up. It is "The Mortgage Meltdown" and unless you have been living under a rock you know it is ever present in today's financial world.
By … (4 comments)
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mortgage meltdown: Mortgage Meltdown - Loan Officer's the one to Blame? - 02/05/08 10:56 PM
I am tired of mortgage brokers being thrown under the bus and catching most of the blame for this housing and mortgage crises. It's very easy to point a finger at us because we don't have the voice that these huge banks have.
We weren't the ones to create these loan … (5 comments)
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mortgage meltdown: Mortgage Market Report for Tuesday January 29th, 2008 - 01/29/08 11:03 AM
Mortgage Market Report for Tuesday January 29, 2008
The past several trading days, the Mortgage Bonds have been most volatile. The Fed's decision is due tomorrow. Consumers Confidence was reported stronger than expectations raises some concerns for those policymakers at the two day Fed meeting.
The Fed's interest rate decision and Policy Statement will … (1 comments)
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mortgage meltdown: 60 Minutes story with Steve Croft on January 27,2008 - 01/28/08 12:12 AM
Good story, overall, I thought, but lacking in this regard.
1) He should have asked the homeowners if they received cash back when they bought. 2) He should have asked if they should get tax forgiveness. If their house goes down in value, it is no cash out of their pocket. The … (0 comments)
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mortgage meltdown: Interest only mortgages are not bad for everyone! - 01/20/08 10:54 PM
I see a lot of negative press regarding Interest Only mortgages. People talk about them like they are the plague. Most feel that if you took an interest only loan that you are inevitably in trouble and shouldn't have bought a house in the first place.
In some cases, they are right. There … (1 comments)
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mortgage meltdown: Countrywide & Mozilo - Should we go back to Western day hangings ??? - 01/18/08 11:27 AM
I know many of us are probably sick of reading about Countrywide and Angelo Mozilo, but let's take a look behind the scenes. Many of us know that Bank of America will buy Countrywide for 4 Billion dollars, that's if everything goes through. Matt Heaton talks about a break up … (49 comments)
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mortgage meltdown: Mortgage Market Report for Friday January 18, 2008 - 01/18/08 11:19 AM
Mortgage Market Report for Friday January 18, 2008
President Bush announced the principles of his economic stimulus package to avoid a recession. The stock market that had been up over 150 points shortly before the speech went negative shortly after the speech. No details have been outlined. Once the details of the … (1 comments)
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mortgage meltdown: Are you a Consultant or an Order Taker? The number one reason for the sub-prime mortgage meltdown. - 01/17/08 02:11 PM
Do you have what it takes to give your clients the best possible service or are you doing just what they tell you to do? A Consultant is defined as: "A person who gives professional or expert advice." by Dictionary.com. Are you giving professional or expert advice?
We all love the easy … (5 comments)
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mortgage meltdown: Mortgage Market Report for Wednesday January 16th, 2008 - 01/16/08 11:30 AM
Mortgage Market Report for Wednesday January 16, 2008
Consumer Price Index was reported a little higher than expectations. The closely watched year-over-year Core CPI was reported at 2.4%.
This puts additional pressure on the Fed not to relax interest rates at the next meeting January 30th Because their target is 1% to 2%. So … (0 comments)
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mortgage meltdown: Citigroup reports it first loss since 1998! The mortgage meltdown continues... - 01/15/08 11:07 AM
Citigroup looks to be taking a $18B hit on there latest write down.With the meltdown in the financial industry in full steam things are going to be interesting in the next year or two. I think we can expect more mergers and write downs as we continue to see who can … (0 comments)
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mortgage meltdown: Implode-O-Meter for Title Companies - 01/12/08 03:23 PM
Diane Cipa over at Radical Title Talk had a great idea to start a title company implode o meter similar to the mortgage implode o meter. I for one think this is a great idea. I am offering my assistance and anyone else who thinks it is a good idea might … (0 comments)
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mortgage meltdown: The Countrywide rumor mill, are they close to being done? - 01/10/08 11:03 AM
Countrywide has been in the news of late. The news doesn't appear to be good. The rumor on the street is that they are just days away from bankruptcy protection. The heat on this issue has been so intense that Countrywide has issued a formal statement on the matter:
“There is no … (4 comments)
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mortgage meltdown: You're Blaming Me For What? - 01/06/08 08:10 PM
You're Blaming Me For What? By Bill RobertsHere we go again. Another round of posts pointing fingers at somebody else for the current real estate market, what some like to call THE MORTGAGE MELTDOWN.Here are just a few of the latest posts:How Much Should Realtors Be Fined for Their Part in the … (23 comments)
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mortgage meltdown: National City Wholesale bites the dust - 01/05/08 02:14 PM
It was a sad day when the division for national city closed its secondary lending. I used to use them a lot. Now on the last day of 2007, National City announced that they will cease their first mortgage lending as well. I have to admit that this was suprising. I … (6 comments)
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mortgage meltdown: 12/27/2007 - 2007 Year In Review: The Mortgage Meltdown - 12/27/07 09:29 AM
It's clear to say that the meltdown that the sub-prime mortgage market caused to the U.S. economy and other national economies was one of the biggest financial stories of the year. At the beginning of the year not many people outside of the mortgage industry knew what a sub-prime mortgage was, … (0 comments)
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mortgage meltdown: Mortgage Market Report for Wednesday December 26th, 2007 - 12/26/07 09:31 AM
Mortgage Market Report for Wednesday December 26, 2007
Many Traders are taking this week off so there is lower volume of trades and any price moves are exaggerated. There are no economic reports to be released this week so bonds may take their direction from stocks. Stocks are taking a small breather … (3 comments)
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mortgage meltdown: Do you want that ultimate pill to relieve all mortgage related problems? - 12/20/07 07:43 AM
The ultimate pill to relieve the real estate and the mortgage problems doesn't exist. What's up with the media and all the negativity? Isn't that how they sell the news? What about the government that keeps coming out with solutions with several lenders making promises. Don't forget, we are in an … (11 comments)
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mortgage meltdown: 12/18/2007 - Fed Taking Steps To Clean Up Mortgage Lending Practices - 12/18/07 05:03 PM
Amid one of the worst US housing slumps in decades, the Fed is racing to tighten up the rules governing home loans. Some of the proposed rules are directed towards sub-prime mortgages which are responsible for the surge in home foreclosures.
Mortgage fraud has also played a big role in the decisions … (0 comments)
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mortgage meltdown: How big is it ? The Mortgage Melt Down in Comparison to other U.S. events - 12/13/07 11:10 AM
By Tom Townsend As the numbers continue to stack up in the never ending saga, it is interesting to be able to obtain a comparative analysis of just how big the entire U.S Mortgage crisis is ? Unless you you recall previous word events and add them into the mix you really … (2 comments)
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mortgage meltdown: Bush's Bogus "Rate Freeze" Plan - 12/11/07 12:43 PM
They don't have the answers, because they don't even know the right questions.
Let me start off by saying that I strongly oppose the proposed 5-year "rate freeze" plan that President George Bush has suggested to the American public in regards to subprime loans set to "readjust" to higher interests rates, with … (40 comments)
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mortgage meltdown: Mortgage & Real Estate problems of 2007!! - Does anyone have a solution?? - 12/11/07 11:56 AM
Problems! Problems! run away ..... With all of the negative real estate news, why not, right? We have seen the so-called subrpime meltdown in the beginning of 2007. We have seen housing slumps continue for the middle of 2006, into 2007, and about to continue into 2008. This summer, we saw … (20 comments)
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mortgage meltdown: Mortgage Market Report for Friday December 7th, 2007 - 12/07/07 11:01 AM
Mortgage Market Report for Friday December 7th 2007
A large drop in Bond prices came by way of the Jobs Report, which was a bit better than expectations. Adding more pressure was the closely watched Hourly Earnings number, which was above estimates and is the largest read in over two years. Bottom … (0 comments)
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mortgage meltdown: Take a Look Behind The Mortgage Meltdown Scene From an Industry Insider... - 12/06/07 09:43 PM
Satyajit Das, one of the world's leading experts on credit derivatives, is the author of a 4,200-page reference work on the subject, among a half-dozen other tomes. As a developer and marketer of the exotic instruments himself over the past 30 years, he seemed like the ideal industry insider to help … (0 comments)
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mortgage meltdown: Mortgage Meltdown or media hype - 11/29/07 05:43 PM
Ok, so we have all heard the constant reports on the news and everywhere else about the mortgage crisis and the housing slump. "This too shall pass." It won't be long before the media moves on to some other subject and then things will settle down. Things may be different, but … (3 comments)
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mortgage meltdown: Mortgage Meltdown? Vamos A La Playa! - 11/27/07 07:34 PM
Loudonville, New York
My much younger and hipper brother (I'm not much of a challenge there in the hipness department) turned me on to this YouTube phenom. According to my nephew in Westchester County, NY, the group is Italian, sang this in Spanish and ?? (translator wanted!), recorded it in Germany. and … (6 comments)
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mortgage meltdown: "BRIDGING THE GAP TO REAL ESTATE SUCCESS" - 11/26/07 09:43 PM
Bridging the Gap to Real Estate Success (vol 8/issue 4)
Ron Reed, The Mortgage Doc /Writer & PublisherBridging the Gap to Real Estate Success © 2007 All Rights Reserved
Reprinted:
Mortgage Meltdown 2007
Last week, I concluded saying that I would cover the subject "The 10 Commandments of Selling" in this weeks feature article. … (2 comments)
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mortgage meltdown: Podcast #13 with Kim Clay, Broker Associate of Star Crest Realty - 11/19/07 09:53 AM
Owen Raun with Online Mortgage Podcast interviews Kim Clay, Broker Associate of Star Crest Realty in Houston, Texas. Kim is on the front line of this year's Mortgage and Real Estate Foreclosure Crisis. Kim works with 6 banks in listing and selling their foreclosed properties. She shares experiences in dealing with … (0 comments)
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mortgage meltdown: The Truth About the Mortgage Meltdown??? - 11/16/07 03:24 PM
Yet again an inaccurate article has been written about the mortgage brokers role in the mortgage meltdown. This time it's a man by the name of Ralph Roberts who wrote an article for realtytimes. com.
It has to be one of the most offensive and innacurate articles about mortgage brokers I have … (3 comments)
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mortgage meltdown: What does Foreclosure really mean? - 11/15/07 10:12 AM
We all have heard the term foreclosure and I am sure that we are all about tired of it, It is a word that every home owner dreads to hear and I know that for most of them they do not wake up and decided to quit paying their mortgage. It … (4 comments)
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mortgage meltdown: Let's See if I've Got This Right Now... - 11/13/07 04:41 PM
I could be mistaken, but:
The current Secretary of the Treasury is advancing a SIV/commercial paper bank bailout that sounds suspiciously similar to the kinds of things Enron did that put several of their execs in jail and deep-sixed the company.Goldman Sachs has announced that- unlike every other bank on the planet- … (0 comments)
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mortgage meltdown: Blame Mortgage Brokers? - 11/08/07 06:34 PM
The main purpose of a mortgage broker is to give consumers options by shopping mortgage rates and programs to keep the larger banks and mortgage lenders competitive. So why is it that the government wants to blame these same mortgage brokers for the mortgage meltdown?
The reason why mortgage brokers are receiving … (0 comments)
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mortgage meltdown: Come on News Media - 11/08/07 10:52 AM
What on earth are we to believe? I just saw Cramer on the Today show lamenting the fact that it is so difficult to obtain a mortgage. While it is more difficult for borrowers with sketchy credit or high ratios to obtain a loan, it certainly is not impossible. We're still … (0 comments)
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mortgage meltdown: More News on HR 3915 - and a FAMB Call To Action - 11/07/07 03:15 PM
Sebastian Florida and Points North and West
According to MarketWatch the The House Financial Services Committee on Tuesday approved a bill (HR3915) that would "impose sweeping changes on the mortgage industry, including minimum standards for approving loans and some new liabilities on those who securitize risky mortgages. The bill passed on a 45-19 … (2 comments)
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mortgage meltdown: Happy Halloween, or Will It Be a "Tricky" One? - 10/30/07 11:13 PM
It is Halloween and today represents a day for ghosts, goblins, and ghouls to come out and scare everyone. But could there be something scarier lurking in the daylight?
There is certainly no shortage of scary stuff this year. Lead poisoned toys, fish and tea from China. Terrorist plots. The mortgage meltdown … (5 comments)
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mortgage meltdown: Do You Embrace the Hype or the Hope? - 10/28/07 08:01 PM
Sebastian, Florida
Anything out of context - statements, print, even images - can paint any picture the author wants.
The media wants us to feel we should be greatly concerned, that the real estate world is coming to an end, and that there is little or no future for recovery as lender … (7 comments)
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mortgage meltdown: GMAC Pulls Out? - 10/28/07 09:03 AM
GMAC apparently pulled out of Ohio and several other states this last week.
Our market is so bad they want nothing to do with new loans. Those already in underwriting will be closed according to one loan officer I spoke to. His local affiate office was dropped - with no advance notice.
Anybody have details or … (8 comments)
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mortgage meltdown: Don't Believe everything the News Media it Saying About the Mortgage Industry - 10/25/07 02:47 PM
There is ample money available for those looking for a Mortgage Loan
The Mortgage industry is continuing to experience unprecedented change and that is a good thing. Why?
1) Mortgage Lender and Brokers are exiting the business in record numbers which leaves the professionals available to help those searching … (1 comments)
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mortgage meltdown: I was ever Prepared - 10/24/07 04:31 PM
Well, I had two Realtors show up and I want to thank them both for being there as well as my co-sponmsoring title rep. She bought the pizza. I am a loyal title user. I try to stick with the same company all the time.
They said I did a good … (0 comments)
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mortgage meltdown: What caused the subprime meltdown? - 10/20/07 03:00 PM
After creating a market that allowed almost anyone to qualify for a loan the secondary market (mortgage investors) suddenly stopped buying loan types that didn't perform as predicted.
Investors also exercised their contractual right to force originators to buy back defaulting loans resulting in many loan originators going out of business.
Investors … (0 comments)
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mortgage meltdown: New Conforming Limits and Automated Underwriting - 10/18/07 09:41 PM
One of the major changes that has occurred in the mortgage lending industry during the past few years is the utilization of computers to underwrite mortgage loans. Hence the name - automated underwriting. The benefits of automated underwriting is significant - faster loan approvals, reduced closing costs, less documentation requirements, and … (2 comments)
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mortgage meltdown: The U.S. subprime housing crisis will not peak until 2009 - 10/11/07 12:35 AM
The U.S. subprime housing crisis will not peak until 2009 and total defaults could reach $150 billion, rating agency Standard and Poor's said on Tuesday, but robust emerging markets would help keep global growth strong.S&P expected the world economy to grow 3.6% in 2007 and 3.5% in 2008. The U.S. economy … (4 comments)
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mortgage meltdown: A Festival of Idiocy - 10/07/07 11:57 AM
Perhaps the song "Jingle Bells" should be retitled "Jingle Mail" if this bill can get thru the Senate and is signed by Dubya. When it passes, hundreds of thousands of homedebtors who own little more than call options on the homes they inhabit will simply either mail the keys to their … (2 comments)
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mortgage meltdown: This is why I blog!! (Please help me spread the word) - 10/04/07 01:53 PM
Something happened today that embodies the very reason why I blog. Back on August 13th, I wrote a post in my blog concerning the subprime mortgage crisis that discussed the involvement of several political figures in offering a solution to this problem. You can read the original story here: Subprime Mortgage Mess: … (18 comments)
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mortgage meltdown: Prime Time, But Not Sub-Prime : Why the so-called mortgage crisis shouldn't affect your desire or ability to buy a new home - 09/29/07 11:46 AM
Open any national news paper, web site, or business magazine and you're likely to find a story about how the real estate market is suffering and the mortgage industry is in crisis. "Suffering", "crisis", and "meltdown" are pretty sensational terms, and they certainly catch people's attention. That's the point when you're … (3 comments)
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mortgage meltdown: Decision One Mortgage – Sub-prime Mortgage Victim - 09/22/07 02:37 PM
According to sources within the industry Decision 1 Mortgage, a division of HSBC Finance, will no longer be accepting sub-prime mortgage loan applications through mortgage brokers in the U.S. If you have applied for a mortgage loan through Decision 1 Mortgage, your loan must close on or before September 28th, 2007.As … (0 comments)
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