AGBeat » Subprime

Time, Time, Time is on Your Side as long as you own a time machine

Fred Glick — Wed, 14 Jul 2010 14:58:12 +0000

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 [...]

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A REALTOR’s Deep Dark Secret

Lesley Lambert — Fri, 02 Oct 2009 02:11:20 +0000

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 [...]

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Mortgage Lending Regulations Approved

Lani Rosales — Wed, 22 Oct 2008 21:48:51 +0000

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 [...]

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The Lender Police – Lenders Watch Out

Benn Rosales — Mon, 23 Jun 2008 19:13:57 +0000

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.

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Did Your Practitioner Fix Your ARM…

Robert Ashby — Wed, 06 Feb 2008 02:40:48 +0000

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 [...]

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Fed Needs to Learn to KISS

Shailesh Ghimire — Tue, 05 Feb 2008 18:42:22 +0000

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 [...]

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Genius Needed @ Countrywide

John Harper — Sun, 02 Dec 2007 16:33:49 +0000

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 [...]

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Confessions of Samuelson

Shailesh Ghimire — Thu, 29 Nov 2007 14:29:36 +0000

“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 [...]

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The Coming Mortgage Acceleration Tsunami (Part 2 of 2)

Shailesh Ghimire — Mon, 26 Nov 2007 17:54:44 +0000

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 [...]

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News vs Fact – The Sky Is Not Falling In Real Estate

Benn Rosales — Fri, 16 Nov 2007 16:59:43 +0000

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 [...]

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