May 19, 2012

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Mortgage Rates and Affordability from the Frontlines

October 22, 2008 By Leave a Comment
TheMortgageReports.com

Dan Green, a loan officer and sage of The Mortgage Reports, educates us on why waiting for mortgage rates to drop may hurt you. Private Mortgage Insurance (PMI) is on the rise due to skyrocketing defaults--this is when they pick up the tab on your mortgage. This is, according to Dan more than eating away at any rate advantage you may get by waiting. By the way, foreclosures and mortgage defaults are not dropping. In fact, there is reason to believe there are other market factors like the drying … [Read more...]

Mortgage Applications Plunge, Wal-Mart Indicators, Apple and Great Depressions

October 22, 2008 By Leave a Comment
(Source: Briefing.com)

Mortgage Applications Dump 16.6% MBA reports a 16.6 percent plunge in mortgage applications. Refinance and purchase mortgage applications drop precipitously--expecting loan originations to drop below $1.9 trillion, nearly half of 2003 mortgage boom high. Expect this to hit online mortgage lead generation players like Bankrate.com, as it did Yahoo. Wal-Mart Economic Indicators Wal-Mart Index signals consumer weakness. Paul Kedrosky is fabulous at zeroing in on the right signals to tell you … [Read more...]

Mortgage Fraud, Banks Borrow From Fed, Housing Starts, Buffett Buys American

October 17, 2008 By Leave a Comment
warren buffett

Mortgage Fraud US attorney is on the hunt for mortgage scoundrels. He is promising "dramatic results," but I am skeptical about making mortgage application fraud stick to these former high-flying executives. Mortgage applications were worked and approved at very low levels within these organizations. Loan origination strategies and behaviors were managed with commission plans and production quotas--making proving high-level, endemic fraud very hard to prove. Banks Borrow Record Fed Funds Banks … [Read more...]