loans: Another big wholesale lender bites the dust. Will we have any left?
- 08/06/09 04:21 PM
Anyone want to start playing ‘Another One Bites the Dust’ It came across my desk this morning that Taylor, Bean & Whitaker Mortgage Company, one of the major players in residential home mortgages has bit the dust. Apparently FHA has barred them from doing loans for them, and that was the rock to the side of the head that brought this Goliath down. Taylor, Bean & Whitaker Mortgage Corp., one of the largest independent home-loan providers, closed its mortgage-lending operation Wednesday, an event that further consolidates an industry increasingly dominated by a few big banks. The failure of the privately held … (7 comments)
Fannie Mae Suspends Foreclosure Sales Pending Administration Announcement WASHINGTON, DC -- Fannie Mae (FNM/NYSE) today announced it is suspending all foreclosure sales and evictions of occupied properties through March 6 in anticipation of the Administration's national foreclosure prevention and loan modification program. The company had previously put in place a suspension of foreclosure sales through January and had previously suspended all evictions through the end of February. In addition, the company adopted a national Real Estate Owned (REO) Rental Policy that allows renters in Fannie Mae-owned foreclosed properties to remain … (0 comments)
loans: Are there any 100% financing solutions left for Snohomish County?
- 07/12/08 01:51 AM
With lender after lender closing their doors and loan programs being shut down one after another the options for fiancing a home are looking bleak. Loan programs that once allowed people with little savings to purchase a home have been virtually eliminated, which has put many of my clients in Snohomish county (and just about everywhere) in a real bind. But there are still options! Gone are the days of 80/20 loans, 100% stated loans, or reduced documentation loans. We are now back in the realm of Government subsidized loans. FHA loans are making a strong come back and along with … (0 comments)
loans: Home Loan Rates and the Fed Funds Rate
- 06/04/08 04:30 PM
How are home loan rates determined? A common question I have heard from my clients over the last few months is if a drop in the Fed rate will lower the home loan interest rates. The short answer is no. In my experience, home loan rates actually tend to fall prior to a Fed rate cut and rise after it is announced. That leaves the question of exactly what affects the interest rates on consumer home loans. The answer is no where near straight forward. The Home Loan Process When we start to look at loan rates, we need to understand … (0 comments)
loans: What is killing my buyers lately!
- 03/21/08 01:25 AM
Nationwide the housing market is in the toilet. That is just a fact of life, but in the Lynnwood and Everett area and really most of the greater Seattle region. Things are still moving along. Granted they aren't moving at the frantic pace of two years ago, but there are still buyers out there looking for homes. Now if we just had loans to give them things would be fine. Currently I'm working with several clients that have good credit, and as is typical these days, enough money to cover their closing costs but not a lot left over for down payment. … (0 comments)
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Anyone want to start playing ‘Another One Bites the Dust’ It came across my desk this morning that Taylor, Bean & Whitaker Mortgage Company, one of the major players in residential home mortgages has bit the dust. Apparently FHA has barred them from doing loans for them, and that was the rock to the side of the head that brought this Goliath down.
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