Spreading the truth. Empowering the people.
via nationalmortgagenews: Independent mortgage bankers lost the largest amount for originating a loan in the fourth quarter since this data has been tracked, as costs rose and volume dropped, according to … Read more
via housingwire: While it appears that the Federal Housing Administration may not be backing mortgages for Deferred Action for Childhood Arrivals recipients, Fannie Mae declared recently that it supports (and will continue to support) mortgages for DACA … Read more
via marketwatch: Cash-out refinancing fallout threatens home prices The 2004-07 bubble era in U.S. housing markets was a time of utter madness. Much has been written about it, but almost nothing … Read more
The subprime crisis taught the world, particularly those in the U.S, the dangers of gambling with real estate. They pushed it to the absolute maximum and it destroyed many people … Read more
by ButtGardener This is a wierd situation and I’m gutted… I really just wanted to post here for some advice. I was in the process of removing my PMI … Read more
by confoundedinterest The Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie were placed into conservatorship with their regulator back in 2008 after housing prices declined and mortgage defaults spiked. But since … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter But deposit-taking banks have pulled back. Lovingly known as “shadow banks,” nonbanks have come to dominate the mortgage market. And they originate the riskiest mortgages. The … Read more
By Robert Ross “Housing prices in the US never go down.” Just about everyone in America believed that in the mid-2000s. A limited amount of buildable land and a growing population … Read more
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter The hope in early January has been unwound. A month ago, mortgages reappeared in the housing-hype circus, when it was widely reported that mortgage applications “soared” … Read more
by confoundedinterest MarketWatch has the tantalizing headline of “The Average Adjustable-rate Mortgage Is Nearly $700,000.” True, the average loan size for ARMs (adjustable-rate mortgages) is substantially higher than for FRMs (fixed-rate mortgages). … Read more
Beginning for tax year 2018, taxpayers are limited to deducting mortgage interest on the first $750,000 of debt related to acquiring, building or substantially improving the primary or designated secondary … Read more
by klsklsk The best advice is to run the numbers and look at mortgage amortization calculator/tables. The difference in interest rate is really what will tip this one way or the … Read more
via outline: Remember the subprime mortgage mess? $1.2 trillion in risky corporate debt is flashing similar warning signs Indebted borrowers increasingly take out high-interest, adjustable-rate loans that are packaged into securities … Read more
via businessinsider: The US housing market took a dark turn in 2018 as homebuying fell off a cliff and mortgage lenders saw a steep decline in applications, originations, and profits. Interest … Read more
By Harry Dent Look at this insanity… I would never have thought this many major cities would have 11%-plus mortgages underwater… especially not at the top of a second real estate bubble. … Read more
by Mac Slavo of SHTFplan In 2008, when the United States was flung into recession, the culprit was the sub-prime mortgages. People without the ability to repay the money, borrowed to buy houses … Read more