Jay Beckingham's (jayb) Blog

Mortgage and Lending - Bank of England Mortgage - 385907



For months I've been watching the national media bash lenders and brokers for their irresponsible behavior in offering "subprime" and "exotic" mortgages. The articles would go on about how the innocent borrowers were totally taken advantage of by the unscrupulous mortgage lenders, and their compa...
Webster'sabsurd  ridiculous If it wasn't so sad I'd die laughing. I also kept on thinking that the article must be satirical, but it's not.CNNMoney.com staff writer Les Christie recently wrote an article entitled "Good credit can't protect borrowers from bad loans." Maybe the real issue is can bo...
Have you ever seen pictures of someone grinning that just made you feel uneasy. Kinda like they looked like they were trying to smile, but just couldn't get there. Kinda like there was something maybe evil hidden behind the grin, or maybe you were being laughed at, and it was being suppressed.Tha...
We've been trying to keep it a secret, and we've been getting a lot of help from the national and local media, but the markets making a move in the Cape. Please, don't tell anyone.Our pending sales are up dramatically.Shhh!And,There's a remarkable pickup in the number of cash transactions. I'm a ...
I live and work in Cape Coral, which is part of Lee County. For months I've read about doom and gloom from the national and local media, although the local media is starting to come around, as they cannot ignore the market improvement. While we're not the largest city in Florida, we're certainly ...
Okay, if you want to find this type of information sometimes you have to dig for it. Hidden in the bowels of CNNfn Money.com is the data about the Fortune 500's biggest winners, meaning profit makers, for 2007.Now, there can't possibly be any banking type institutions, right?Well, not so fast. it...
It's got to be a no brainer! Closed sales are just that closed sales, and can be the only true indicator as to what's going on in your market.Well, not so fast!While we all know that not all pending sales will close, the information is fresh, and therefore is a better indicator of the health, or ...
My solution is composed of two parts; The first part is to ban any/all articles that even mention subprime loans or hint that they are mentioning subprime loans by any/all media sources. This ban will be for a minimum of 1 year, but may be extended. The thinking here is two fold;First: that by th...
It's an FHA market for those that qualify. Despite more restrictive guidelines, which the market feels necessary, FHA is THE way to go.If you have low/no downpayment needs;Well the courts ruled in Amerifund's favor and the downpayment assistance program is alive and well.Low credit scores;Well wh...
I'm sitting here with the FNMA "New Flow Business Pricing Requirements," announced on March 6th and effective June 1st, which essentially means that lenders will start adhering to these guidelines now.Frankly, as I review the charts I'm shaking my head in disbelief.First, is this just a necessary...

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