ARCHIVED BLOG POSTS
2010
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The Federal Deposit Insurance Corp. is developing a program to test whether cutting the mortgage balances of distressed borrowers who owe significantly more than their homes are worth is an effective method for saving homeowners from foreclosure. The program would be aimed at a growing population...
02/26/2010
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As a graph for your review is total non farm employment since the peak in housing permits. The most important take from this information is that although the "official" unemployment rate has declined we have less people employed you might ask if you quit looking for work and are no longer counte...
02/26/2010
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Historically the best leading indicator for the economy (and employment) has been housing. I've been writing about this for years. For a great summary paper, see Professor Leamer's presentation from the 2007 Jackson Hole Symposium: Housing and the Business CycleFor housing as a leading indicator,...
02/26/2010
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Below is the information I use to measure the overall strength and velocity of the market. The main reason this is such an effect tool is the relationship between buyers and sellers. Having tracked this for year this will show a change in direction very rapidly, if either buyers or sellers starts...
02/24/2010
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January 22, 2010 MORTGAGEE LETTER 2010-04 TO: ALL FHA-APPROVED MORTGAGEES ALL HUD-APPROVED HOUSING COUNSELING AGENCIES SUBJECT: Loss Mitigation for Imminent Default The Helping Families Save Their Home Act of 2009 expanded the authority to use FHA Loss Mitigation to assist defaulted FHA borrower...
02/24/2010
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SUBJECT: Increase in Upfront Premiums for FHA Mortgage Insurance Effective for FHA loans for which the case number is assigned on or after April 5, 2010, FHA will collect an upfront mortgage insurance premium of 2.25 percent. This policy change will increase premiums for purchase money and refin...
02/24/2010
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If you listen to NAR and the powers in Washington D.C. You have think that housing was well on the way to recovery and any day now we could dance in the street with happiness over all the easy home sales that are being completed. Wellllllllllllllllll if you look at the fresh of the presses new s...
02/24/2010
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MBA: Mortgage Purchase Applications at Lowest Level Since May 1997 by CalculatedRisk on 2/24/2010 08:12:00 AM The MBA reports: Mortgage Applications Decrease in Latest MBA Weekly Survey The Market Composite Index ... decreased 8.5 percent on a seasonally adjusted basis from one week earlier. ....
02/23/2010
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Treasury Looks to Mandate Foreclosure Abatements, Mortgage Mods Some of the highlights of the proposal: · Mandate a 30 day freeze on foreclosures until a delinquent borrower is evaluated and found ineligible for HAMP; · Once a borrower is in a mortgage mod program, "servicers must stop all fore...
02/23/2010
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Loan fees vary widely. One would expect these fees to vary and to depend on factors related to lenders' costs and risks, such as the loan amount, property value, the borrower's credit score, and on relevant features of the state regulatory environment. However, after controlling for these legiti...
02/23/2010
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