Many of the mortgages being made today contain higher loan to values. These loans contain inherent “risk based pricing” which causes the rates to change. What is loan to value anyway? The loan to value (LTV) is defined as the amount of money you’re borrowing against the value of your the property expressed as a [...]
Fannie Mae published survey results showing that consumers are more positive about the economy and that people are generally more optimistic about housing prices. Of course, number can be spun lots of ways… SURVEY HIGHLIGHTS Homeownership and Renting Consumers’ average home price change expectation is 1.5 percent, consistent with recent periods and marking nearly a [...]
“There’s no such thing as a free lunch.” Such words have never been more relevant to consumers being pitched to take out a no cost loan. No cost mortgage mortgages have been around since the mid-90s and offer consumers the ability to pay no closing fees. The general closing costs, you’d otherwise pay in procuring [...]
Everything about this program is wrong. Uncle Sam’s plan to sell REO’s in bulk to institutional investors is a terrible idea. It screws taxpayers, home-buyers, home-sellers, investors… pretty much everyone but the institutions who lobbied for this. If this program pics up steam, expect our anorexic inventory to only get thinner. CAR reports: LOS ANGELES [...]
If you live in or own real estate in Sonoma County and need to refinance, the Harp 2.0 Refinance Program could be just the ticket to successfully reducing your interest rate and monthly mortgage payment. The Making Homes Affordable Program lifted their maximum loan-to-value requirements on March 18, 2012 for loans owned by Fannie Mae [...]
Fannie Mae and Freddie Mac have issued new guidelines designed to be an industry standard for speeding up short sale timelines. Unfortunately, it isn’t going to make a shred of difference. From today’s San Francisco Chronicle: Under the new guidelines, which take effect June 15, servicers have 30 days to review and respond to short [...]
Edward DeMarco is weighing the possibility of reducing the principal of hundreds of thousands of Fannie and Freddie mortgages. The decision hinges on just how many additional underwater borrowers would strategically default in order to possibly get their principal reduced. Social mood is hard to forecast. Demarco states: A key risk in principal forgiveness targeted [...]
