Posted on Thursday, 21st May 2009 by chrisjones
Market: We got whacked today by a report out of CreditSuisse that speculates that the Fed will slow down its buying of mortgage-backed securities in order to conserve its cash, so that it can keep rates lower longer. This is speculation. I think they’re wrong. This doesn’t matter at all, because the markets spooked and [...]
Tags: mortgage lending, mortgage rates, RateWatch
Posted in Rate Watch | Comments (0)
Posted on Tuesday, 19th May 2009 by chrisjones
Once, a thousand years ago, there were new loan programs coming out every day or two. Now there are only a few left, and no innovation coming from the private loan markets, because it is the Fed that is doing all the dictating.
But they are doing some dictating. Yesterday HUD said it is writing rules [...]
Tags: downpayment assistance, DU Refi Plus, mortgage industry, mortgage lending, mortgage loans, mortgage modification
Posted in Blog & News, Finance 101, General, Rate Watch | Comments (2)
Posted on Tuesday, 19th May 2009 by chrisjones
Okay, I’ve now officially had it.
On Zillow this morning there was a fathead complaining that one servicing lender was not modifying its mortgages in the way that suited him. He wanted them to be modified according to the government’s Making Home Affordable plan, instead of the way the servicer preferred. Leaving aside for a moment [...]
Tags: mortgage industry, mortgage lending, mortgage loans, personal responsibility, subprime
Posted in Blog & News, General | Comments (4)
Posted on Wednesday, 4th March 2009 by chrisjones
The government unveiled the Home Affordable Modification (HAM) program today, and the provisions are interesting, exciting, and devastating, depending on who you are.
First the interesting part. If you are:
1. Anyone with an FHA or VA loan
2. Anyone that doesn’t own a home
3. Anyone that has a mortgage greater than $729,750 (don’t ask me, I didn’t [...]
Tags: HAM, mortgage lending, mortgage modification, pork
Posted in Ask The Magician & FAQ, Blog & News, Finance 101, General, Rate Watch | Comments (1)
