mortgage lender: Banks in Real Estate
- 10/01/08 02:09 AM
It simply amazes me that with all the problem loans that are made in the banking industry, that the banks can't understand why we as Realtors don't want them selling real estate. With all of the recent bank failures and then wanting us to help them clean up their mess, it is absurd that they are still insisting that they be able to sell real estate. If you want to know how many lending institutions have folded, just check out www.mortgageimplosion.com. I commend our fellow Republicans (and some Democrats) for not wanting to hand over are hard earned money ($700 billion … (1 comments)
mortgage lender: Government Bailout?
- 10/01/08 01:50 AM
With the $700 billion proposed bail out for Wall Street, I am amazed at the arrogance of some of the top officials in congress who think that this is suppose to help the average American. It is like letting the fox in the hen house, again. The banks who made these loans and the investors who bought these portfolios are the ones who need to be raising the capital to stay afloat. If I get overloaded in debt, I don't see any government program to help me out. No, I have to get a second job and pay my debt down … (4 comments)
mortgage lender: Freddie Mac / Fannie Mae Takeover
- 09/10/08 04:17 AM
As you no doubt heard over the weekend, the federal government announced the takeover of Fannie Mae and Freddie Mac, the two companies that currently guarantee roughly 70% of all new U.S. home loans.This historic step should help stabilize and restore confidence in the U.S. mortgage markets and the overall economy, which also is good news for the Charlotte NC housing market and new home builders. The government’s action also helps to re-establish Fannie and Freddie as federally chartered financial institutions working for the American people.I am encouraged by the possibility that the takeover may drive down mortgage rates and create … (1 comments)
mortgage lender: New Credit Scoring Models
- 09/08/08 02:28 AM
I have recently learned in the last few weeks that Equifax, Trans Union and Experian have changed their scoring models for mortgage lenders new criteria. Needless to say this was to be expected since the melt down of the sub prime market and all the foreclosures across the country. Since this has happened, many peoples scores have dropped though nothing has changed on their part. They still pay their bills on time and not had any late payments, but their score has dropped by as much as 50 points. Part of this change has been due to the amount of available … (1 comments)
It simply amazes me that with all the problem loans that are made in the banking industry, that the banks can't understand why we as Realtors don't want them selling real estate. With all of the recent bank failures and then wanting us to help them clean up their mess, it is absurd that they are still insisting that they be able to sell real estate. If you want to know how many lending institutions have folded, just check out www.mortgageimplosion.com.;)
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