Real estate blog entries tagged with neg am loans

Blog entries tagged with "neg am loans":

neg am loans: SubPrime Crisis Really a Stated Income Crisis - 01/21/08 01:01 PM

Income Overstated
According to the Mortgage Asset Research Institute in Virginia, (which investigates lending fraud) Stated-income loans made in the past few years have incomes very exaggerated.
The institute said one of its customers checked 100 stated-income loans against tax documents and found that nine in 10 of them overstated income by … (2 comments)

neg am loans: Pick a Pay - Understanding the Recast - 10/08/07 01:55 PM

Over the weekend my friend in Florida, Bryant Tutas posed a question about a particular loan product offered by his Wachovia Rep. It was called the "Pick - a- Pay".
Out here on the west coast we know the P-A-P well. It's nothing new. It has been a staple of … (14 comments)

neg am loans: What You Don't Know Can Hurt You! - 09/25/07 12:48 PM

It would be a dramatic understatement to say that the mortgage industry has changed over the past year. Yet in spite of the changes there are still people out there living in the "glory days" of the refinance boom and have yet to truly learn their lesson. The media has provided … (9 comments)

neg am loans: The Assured Arm, a new alternative to the traditional option arm - 02/11/07 07:02 AM

A new alternative to the option arm program is being called an Assured Arm. An Assured Arm offers the stability of a 5 year fixed ARM combined with 4 monthly payment options, including a low minimum payment option with deferred interest. This minimum payment rate is typically the note rate minus … (1 comments)

neg am loans: Deferred Interest Mortgages: Investing the Money Saved from a Negative Amortization Payment Can Make You Money - 09/07/06 04:48 PM

Negative amortization loans go by many names depending on the lender you are using. Some of the common names are, deferred interest loans, payment option ARMs, Choice Option arms (adjustable rate mortgages), They all boil down to the same thing, they are loans with interest rates based on MTA, COFI and … (0 comments)