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Mortgages & Lending

Economy

Mortgage Rates, Geithner, China and You

by Steve Heideman | January 27, 2009

Mortgage markets deteriorated last week on the heels of weak economic data and uninspiring corporate earnings.
Mortgage rates rose for the second week in a row. They’re now measurably higher than the low point set 3 weeks ago.
For mortgage rate shoppers, though, last week’s most important stories weren’t necessarily last week’s most reported stories; the [...]

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Foreclosures

New Data: Housing Crisis Gets Worse; Many Modified Mortgages Still Delinquent!

by Charles Feldman | December 23, 2008

Housing Bailout Programs Flop!
What programs there are–and there aren’t many–to bail out homeowners who are facing foreclosure are turning out to be total flops according to some new data reported by Reuters News Service.
Apparently, “the rate of re-default on modified mortgages is rising and may worsen as the economy deteriorates,” Reuters quotes banking regulators [...]

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Commentary

The Latest Dynamic Duo Disaster In The Making

by Rob K. Blake | December 6, 2008

I call the Bernanke – Paulson twosome the Dynamic Duo because what they devise to solve our financial crisis is no more ridiculous than the far-fetched ways Batman and Robin used to escape sure death in the campy TV show. Unlike the TV show, I’ve stopped rooting for this financially bungling Dynamic Duo to [...]

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Mortgages & Lending

Pertinent Tidbits on Burning Mortgages and Hiring Service People

by Tom Koziol | November 7, 2008

On Burning Your Mortgage
As you may know I co-own an insurance agency with my son. To say we have a varied clientele is to understate the characters in our portfolio. I write this first piece based on one of them.
Actually they are a couple who paid off their mortgage and were ecstatic. It turns out [...]

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Mortgages & Lending

The State of Lending: Trader Uncertainty Anyone?

by Steve Heideman | October 27, 2008

The Chinese have a saying: “May you live in interesting times”. Well, I don’t think there are many people out there who think that things have been boring lately. In the last weeks, mortgage markets whipsawed as the Dow Jones Industrial Average recorded both its largest one-day point gain and second-largest one-day point loss [...]

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Economy

BIG Problems Need Simple Solutions; A Bailout Plan that Works

by David Peeples | October 10, 2008

Two months ago, hardly anyone knew of credit default swaps, commercial paper, mortgage backed securities, and mark to market accounting. Now, guys like Hank Paulson and Ben Bernanke are household names right up there with Barack Obama and John McCain. It seems that everyone in America woke up a new financial guru because of our [...]

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Commentary

A Solution That Works

by Joshua Dorkin | October 8, 2008

Today, we’ve got an important guest post to share, written by Dan Gilbert, Chairman of Quicken Loans.
Last week, President Bush signed into law the hotly debated financial rescue package called the Emergency Economic Stabilization Act of 2008. While this legislation helps stabilize Wall Street and the banking system, it does nothing to address the root [...]

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Economy

Housing Bailout Quotes of the Day. What Real People think of the Bailout.

by Joshua Dorkin | September 26, 2008

As our great and venerable (throat clears) leaders continue to debate the bailout of banks and millions who cannot afford their homes, I thought that I’d share some quotes that might bring some perspective to the issue:
On the value of money nowadays:

And to think, $50 billion use to sound like an unimaginable amount of money. [...]

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Commentary

How Three Commercial Mortgage Brokers Saved My Backside!

by Rob Powell | July 26, 2008

Greetings from a jam-packed airplane headed North. I am on my way to go Walleye fishing in South Dakota. I am not an avid fisherman by any means and I have no idea how to fish for Walleye….but off I go to make new friends and to reconnect with another.
Anyways….
As [...]

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Commentary

Commentary: How to Really Handle the Foreclosure Problem

by Tom Koziol | July 25, 2008

Last week I opened my big mouth and said I’d present another solution to the foreclosure problem we are facing today. Before I do, I happened across this law:
“every insolvency of a bank shall be deemed fraudulent, and the president and directors shall be severally punished by imprisonment and labor in the penitentiary . . [...]

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Financing Real Estate

Are Mortgage Brokers An Endangered Species?

by Rob K. Blake | July 13, 2008

By all accounts it seems the banking lobby will get everything they’ve been ask for from Congress over the past decade and in do so may legislate mortgage brokers out of existence.
A little history lesson is in order to understand all the political and media spin designed to sway their and public opinion away from [...]

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Housing

Fannie Mae & Freddie Mac: What Will The Feds Do?

by Charles Feldman | July 11, 2008

Fannie Mae and Freddie Mac, combined, own or back up some $5 trillion dollars of debt. That is about half of ALL the mortgages in the U.S. They have already lost some $11 BILLION since the current mortgage/credit crisis began, so it is easy to see why there is profound concern about their fiscal health–or [...]

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Financing Real Estate

Mortgages That Attract Homebuyers

by Troy Schuricht | May 29, 2008

Do great rates and great service fail to impress you? Well you are not alone. We are in a time where you need to find out who can create value with their services and ideas. And what I mean by value is, attracting customers. A good number of investors plan [...]

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Credit

Turning the Real Estate Ship Around: Why It Hasn’t And How It Can

by Charles Feldman | May 21, 2008

Okay…so what’s wrong with this picture? In communities all across America the value of homes has dropped faster than the New Year’s Eve ball in Times Square. Lower prices should mean bargin prices. Bargin prices should mean people jumping back into the housing market.
People jumping back into the housing market should help inflate the value [...]

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Commentary

Real Estate Lessons Learned Or Lost?

by Charles Feldman | May 7, 2008

Will we ever learn? Doesn’t look like it.
You’d think what with all that has gone down with the subprime mortgage/credit mess, the real estate industry (or, at least, segments of it) would be in the forefront of a much needed reform movement.
Instead, there seems to be an almost pathological desire to return to “normal” as [...]

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