Mortgages & Lending

Why Are There No More Stated Income Loans?

by Justin McHood | February 23, 2010

Why are there no more stated income loans? The IRS 4506T document is one of the biggest reasons. Now borrowers must give the lender permission to pull their tax returns.

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Mortgages & Lending

FHA Changes Make FHA Loans More Expensive

by Justin McHood | February 16, 2010

FHA loan program changes recently announced will make getting an FHA loan more expensive and changes will go into effect this spring and summer.

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Mortgages & Lending

An Unexpected Paradigm Shift: Is Holding Paper Still a Safe Option?

by Tom Koziol | February 12, 2010

As a general rule of thumb, mortgage payments have been the top bill that has always been paid. However, high unemployment, sliding home prices and other economic kicks in the butt, have a growing number of struggling consumers doing what was once considered unthinkable: paying their credit card bills instead of their mortgages. On the [...]

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Mortgages & Lending

Fed Leaving Door Open to Extend Mortgage Backed Security Purchases

by Ryan Hinricher | February 8, 2010

I’ve been curious lately about the end of the Mortgage Backed Security (MBS) purchases by the Federal Reserve in March. The Fed is planning to end the program in less than 60 days on March 31st. Currently they stand at about 94% having purchased 1.17 trillion of the 1.25 trillion allocated to purchase these securities. [...]

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Economy

Where Have All The Houses Gone? Can we Fix the Growing Shadow Inventory Problem?

by Brian Brady | February 5, 2010

If you know who Pete Seeger is, you’ll recognize that I’m about to pirate the song he sang about the cyclical nature of war. Hang in there. I promise I’ll tie this into real estate investing. Where have all the houses gone? Gone off balance sheet, every one. When will they ever learn? When will [...]

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Mortgages & Lending

How to Fund and Finance Your Real Estate Deals — Without Needing Tranquilizers!

by Peter Giardini | February 4, 2010

Last week I wrote about my discussions with a local loan officer for a small bank in my area. This article really touched a nerve not only with the number of comments but also with at least one of my clients. I sent a link to the article out to my clients to ensure they [...]

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Mortgages & Lending

FHA 90-Day Flip Rule Suspended: Lenders Hesitant To Change

by Brian Brady | January 29, 2010

If you’re a real estate scavenger, who likes to buy foreclosure properties at a deep discount and “flip” them to retail home buyers, the FHA anti-flipping rule has always been a thorn in your side. Come Monday, February 1, 2010, HUD has agreed to suspend that prohibition for a period of 12 months. 123flip.com reports [...]

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Mortgages & Lending

An Insiders Tale: Why Banks are Tightening on Real Estate Investments

by Peter Giardini | January 28, 2010

I just got off the phone with the commercial lending VP at a small local bank. This bank just survived its first Office of Thrift Supervision audit since the financial meltdown. This audit took the better part of two months — all for a bank with less then $200 million in assets. As I mentioned, they [...]

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Mortgages & Lending

Imprudent Use of Leverage: A Contrarian Opinion

by Brian Brady | January 22, 2010

Contrarians zig while other investors zag. They hold to the belief that most people receive news too late and act irrationally. Warren Buffett illustrates the contrarian approach best: A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. Let’s talk about how mortgages can be applied [...]

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Mortgages & Lending

Will Banks Ever Lend Again, and if so, How To Get Your Deals Funded

by Peter Giardini | January 12, 2010

I was speaking with one of my coaching clients this morning whose has purchased some killer deals using his Home Equity Line of Credit and private lender funds. This client now needs to recapitalize to get the cash out of these properties so that he can continue his buying spree. During the course of the [...]

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Mortgages & Lending

Come New Year, The Ball May Drop, But Mortgage Rates May Rise

by Charles Feldman | December 17, 2009

10, 9, 8, 7, 6, 5, 4, 3, 2, 1 HAPPY NEW YEAR!!!! But while many of you will have your eyes glued to your flat screens watching a 1080p image of a large, light encrusted ball drop at Times Square, others will be paying closer attention to mortgage rates which many think will go [...]

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Mortgages & Lending

Bankers Invited to the Wood Shed by Obama; How to Find Lenders willing to Lend?

by Peter Giardini | December 16, 2009

It has been all over the news how President Obama invited the big bankers to the White House this week to encourage them to do their part to stimulate job creation and economic growth by lending more to business; small business in particular. In essence, these bankers got invited to the “wood shed.” The million [...]

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Mortgages & Lending

Will Interest Rates Start to Climb Soon? Time to Get Off the Fence

by Florence Foote | December 15, 2009

It is no secret that money has been exceptionally cheap this year, provided you can qualify for a loan. Rates this low have not been common for half a century. But, according to a recent article in the New York Times, today’s “super-low rates are not likely to last much longer.” You will be excused [...]

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Mortgages & Lending

Fannie Mae/Freddie Mac Put the Noose Around Investors’ Necks with New Lending & Underwriting Policy Changes

by Jeff Brown | December 10, 2009

There comes a point at which reasonable folk take a step back, survey the latest nonsensical trend in lending, and conclude their own rational thought has been the problem all along. We don’t need a rehash of why we’re sittin’ in the economic rubble of a woefully failed economy. Allow me to sum it up [...]

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Mortgages & Lending

Home Mortgage Cramdown: Part Deux?

by Florence Foote | December 7, 2009

As pretty much everyone realizes by now, the Obama administration’s efforts to convince banks to modify troubled loans has been little more than window dressing. Despite the $75 billion promised to fund the program, only a fraction of the people it was intended to help have received any aid. The problem of homeowner defaults has [...]

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