Jay Beckingham's (jayb) Blog

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Mortgage and Lending - Bank of England Mortgage - 385907

ARCHIVED BLOG POSTS

2008 

The guidelines for new home equity lines don't bear any striking resemblance to what we have seen in the recent past, and the guidelines for the existing lines are changing as fast as you can say ouch! I must say though this looks like prudent behavior to me.New equity lines are going to have som...
02/26/2008
I don't know about you, but it seems all I keep seeing are articles about doom and gloom. There's foreclosures, a lack of sales, credit crisis, subprime problems, and so on, and son on, and so on. There is just absolutely nothing positive going on in the marketplace today.I have a suprise for you...
02/25/2008
I was reading an article online this morning about subprime loans that were defaulting before the rates reset. They quoted analyst Michael Youngblood of Freidman, Billings, and Ramsey as being shocked by this fact. I guess we were to believe that Friedman, and whomever were some sort of experts i...
02/19/2008
While the Presidential candidates and the Congress are throwing around bailout plans like there's no tomorrow, there's a problem for many homeowners, which they can't fix. The real problem is;I don't make enough money!These homeowners fall into many different categories, but let's just check out ...
02/17/2008
Well, are they?Don't know yet.BUT:There appears to already be some resistance to Fannie's and Freddie's increases, feel free to read "Fannie & Freddie Get the Cold Shoulder."Larger FHA loans with low or no out of pocket investment may not be saleable, even with the FHA insurance. Investors have b...
02/16/2008
Fannie & Freddie's loan limits are increasing!This should help! Yea!Hold on for just a minute now. Things may not be quite that rosy.CNNMoney.com reports that the Securities Industry and Financial Markets Association said that the larger loans, above the previous $417,000, will not be allowed on ...
02/16/2008
I was reading an article this morning by Les Christie of CNNMoney.com entitled, "Hope Now: When loan workouts don't work out." I think the article points out the naivete' of the writer in that it appears for some reason the writer felt that more/most of the workouts should work.Why would someone ...
02/14/2008
I have never seen this phenomenon as prevalent in the marketplace as it is today. Many homeowners are just packin' it in and abandoning their property.WOW!From my point of view we have two distinct categoies.We have the homeowners, and we have the houseowners, those who bought houses for investme...
02/09/2008
I was reading an article about how few people could actually take advantage of the current low rates. And it appeared that the emphasis was on the new, more restrictive quidelines. Actually, I couldn't disagree more!I'm not sure how all/most loan officers dealt with their subprime clients, but in...
02/08/2008
For comperable loans,  within FHA loan limits, the FHA advantage in regards to rates, quidelines, and attitudes is overwhelming.Check this out!Rates;Since fannie/freddie, and essentially all conforming lenders, have gone to the tiered pricing the FHA rates for scores between 620 and 679 look bett...
02/08/2008
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Jay Beckingham

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