Keyword: Subprime
Time, Time, Time is on Your Side as long as you own a time machine
In the last two days I have had calls from several people not realizing it’s 2010. Is there a real estate/mortgage time machine out there that people are finding and jumping into? The first person wanted 100% financing on a $1,400,000 property that was going to be owner occupied with credit scores in the low six-hundreds. Her premise was that ...
A REALTOR’s Deep Dark Secret
I don’t have secrets, my life is all out there…just Google my name and you will find out more about me than you EVER wanted to know. However, most people are not so into “full disclosure” and have secrets. Some of them worse than others. I have had a glimmer into other real estate agent’s lives via my blogging and ...
Mortgage Lending Regulations Approved
Federal Reserve Approves Regulations According to RECON: WASHINGTON- (Reuters, Realtor.org) The Federal Reserve yesterday approved regulations requiring mortgage lenders to tell borrowers how much interest rates differ between prime mortgages and the higher-priced ones offered to less-affluent borrowers. New Regulation C rules will require disclosures to prospective borrowers if the difference between prime and subprime rates is equal to or ...
New 2012 AGBeat media kit available now
- We know you want the most sophisticated audience, and here it is!
The Lender Police – Lenders Watch Out
There’s a new Sheriff in town For $99 bucks consumers can fax over their good faith and for $199 they can fax their Loan docs and have them reviewed by Lender Police to make sure you’re on the the level with buyers. I report, you decide.
Did Your Practitioner Fix Your ARM…
or Make it Worse? When you break your arm, do you go to your family doctor, or do you go see someone at the ER that is equipped to deal with it? If you are like me, you go to the ER and request a specialist on top of that to make sure your broken arm gets fixed correctly so ...
Fed Needs to Learn to KISS
KISS. If I were running for political office and someone asked me how I would govern, I would say: KISS. Yes, that is right, KISS. I am proud to say that KISS has served me well in my life and I’m confident it will continue to do so. If you’re not familiar with KISS then let me tell you what ...
Genius Needed @ Countrywide
I’m no genius, but am I crazy in my view that Countrywide needs an infusion of intelligence? We had a short sale fall through because the holder of the second, Countrywide, wouldn’t sign off on the deal. Why? Because their appraisal came back showing the property worth about $25K more than the sale price. With the rejection, the property will ...
Confessions of Samuelson
“As one of the economists who helped create today’s newfangled securities, I must plead guilty: These new mechanisms both mask transparency and tempt to rash over-leveraging.” So confesses Paul A. Samuelson, Nobel laureate and professor of economics at MIT. Masked risk prompted heavy purchase of mortgage backed securities in the credit markets, and filled the coffers of big banks. The ...
The Coming Mortgage Acceleration Tsunami (Part 2 of 2)
In part one I discussed the characteristics of the mortgage acceleration program and pointed out that while on paper the concept is sound, it’s the execution which needs to be better understood. So, if you are considering the mortgage acceleration program, I suggest you ask the sales person to generate a comparative scenario involving a fixed rate conventional mortgage where ...
News vs Fact – The Sky Is Not Falling In Real Estate
I’ve posted many times on the fact that negative spin is what is keeping consumers away from the closing tables. I’ve warned about polarizing consumers with political style commentary on Real Estate and the devastating effect it has on large segments of the economy- finally a journalist picks up that same ball and bats a home run… I am sick ...
When it comes to FHA, having no credit is better than bad credit
Bad credit, no credit, no problem. Well, not exactly. When it comes to the FHA loan program having no credit is often times much better than having bad credit. Even though FHA is not a credit score driven loan program, if your score is below the 580 mark, well, lets just say things get really tough. In fact you may ...
Ben Stein “Chicken Little’s Brethren, on the Trading Floor”
Here’s the gist: “MY point is this: I don’t know where the bottom is on subprime. I don’t know how bad the problems are at Bear. Yet I do know that the market reactions are wildly out of proportion to the real problems that have been revealed. Maybe there is some giant thing hiding in the closet that might rationalize ...
Benn Rosales
Conal Campbell
Elijah May
Lani Rosales
Tara Steele
Marti Trewe
Charlene Jimenez
