Educate yourself on home equity loan, home equity lines of credit, and home mortgages
Make your home work for you!
Home Mortgage Refinancing – Things to Consider When Looking to Get Cash Out on a Refinance
Author: Administrator14 Dec 2005
Need or want to get cash out of your home’s equity in a refinancing? Consider these items…
Home Equity Lines of Credit – the Basics
Author: Administrator11 Dec 2005
Are you a home equity LOC novice? Start here…
Option ARM ? The Worlds Most Dangerous Mortgage
Author: Administrator6 Dec 2005
Very risky, yes… But not sure about “World’s Most Dangerous“…. I mean, this is a mortgage after all…
Home Loan Refinancing – What Lenders Dont Want You To Know
Author: Administrator3 Dec 2005
Lenders and banks don’t make money by telling you EVERYTHING…
Warning: touch() [function.touch]: Utime failed: Operation not permitted in /home/bringr/public_html/moneytalks/simplepie.inc on line 7270
MORTGAGE RATES: Best Lock/Float Advice I Can Offer
Author: RSS30 Jul 2010
Posted To: Mortgage Rate WatchI think it's safe to say that, consistently for the last 30 to 45 days, at least one lender (regional, major, or independent) has offered below market "record low" mortgage rates. Investor demand is consistently healthy for agency MBS, such that their prices are hitting new record highs on a daily basis. No lender faces a shortage of funding, nothing seems to be able to distract mortgage rates from rallying! This situation has forced us to refocus our attention on the competitiveness of the primary mortgage market, instead of closely monitoring every move in the secondary mortgage market (MBS). Here's how I would play it.... The "best executed" lock/float strategy comes down to finding an originator who knows the loan market, studies underwriting guidelines, and...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
USDA Rural Housing Bill Passes; Low-Income Rental Legislation Advances
Author: RSS30 Jul 2010
Posted To: MND NewsWireOne government housing program that had run out of funds months ago was revived by Congress yesterday, and another bill targeted at low-income rental housing moved a step closer to approval. The Senate yesterday passed HR 4899 to reestablish the popular U.S. Department of Agriculture Single-Family Housing Guaranteed Loan Program (Section 502 Housing) as a self-sustaining program. Also, the House Financial Services Committee approved H.R.4868 , the Housing Preservation and Tenant Protection Act of 2010 which aims to stem the loss of affordable rental housing units and prevent the displacement of low-income tenants. The Rural Housing program had run through its $13.1 billion funding by early this year and many buyers hoping to finance home purchases using Homebuyer Tax Credits were unable to...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
MBS Lower and Wider. Reprices Reported. Buyers Lurking
Author: RSS30 Jul 2010
Posted To: MBS CommentaryRate sheet influential mortgage-backs are experiencing some localized weakness as stocks rally and swaps spreads widen. Nominally, yield spreads have been wider all morning but price levels were still pushing new records because Treasuries were catching a bid, but the poo hit the fan a few minutes ago and prices plummeted. We're still in the green though...just off the session highs. The September FNCL 4.0 is +0-03 at 101+30. The FNCL 4.5 is UNCH at 104-02. The secondary market current coupon is -1.6bps at 3.679. Yield spreads are at the wides of the week. After much rallying, agency MBS appear exhausted, but I doubt this will last long. Buyers have consistently jumped on any sign of weakness...unfortunately I've already seen a few reprices for the worse....(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
Evolving Loan Officer Agreements: Mandatory Reserves and Good File Delivery
Author: RSS30 Jul 2010
Posted To: The Garrett Watts ReportAfter visiting over 100 shops in the past 3 years, we haven't really seen anything “new under the sun” in terms of loan officer agreements. Sometimes I think all contractual documents used by mortgage bankers originated from the same source. But more recently we've come across a few approaches that might eventually be considered the basis for new loan officer agreement practices. I’m not necessarily promoting these ideas, but they are worth discussing. The two additions are: (1) Mandatory reserves for future losses as a result of repurchase loan issues or early pay offs and (2) Good File Delivery Standards and Criteria when submitting loans to processing. Let’s dig a little deeper into these additions... Mandatory Reserves : Most agreements have clauses that...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
Rapid Refinance Program: Don't Bet On It
Author: RSS30 Jul 2010
Posted To: Pipeline PressThe economy is so bad, I bought a toaster oven and my free gift with purchase was a bank...If the bank returns your check marked "Insufficient Funds," you call them and ask if they meant you or them...Angelina Jolie adopted a child from America...My cousin had an exorcism but couldn't afford to pay for it, and they re-possessed her..When Bill and Hillary travel together, they now have to share a room. The economy is indeed slow, generally speaking. So slow that conjecture is being openly discussed regarding yet another massive government-sponsored refinance/modification plan . I ignored them for a day or two, but figured I'd mention it anyway. Morgan Stanley put out a research piece suggesting a "change" to mortgage refinancing requirements: "The Fed and market...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
The Day Ahead: Q2 GDP, Consumer Sentiment, Stocks Testing Support
Author: RSS30 Jul 2010
Posted To: MBS CommentaryA busy day awaits the markets as investors get their first look at second-quarter GDP. Also in the store is the influential Chicago Business Barometer which gives an update on how the economy is recovering in the midwest, plus a consumer sentiment index for the nation at large. While investors wait for the GDP report, headlines are focusing on an IMF report which said the U.S. financial system may need $76 billion in fresh capital to recover. “The findings, released today as part of a broader IMF report on the U.S. financial system, suggested that while the nation’s banking system is stable, it remains vulnerable,” reports Bloomberg News. “Home prices, commercial real estate loans and economic growth have the potential to cause shocks that could expose banks to more...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
Treasury Auctions Done. Bonds Cautiously Resilient as Stocks Repeat History
Author: RSS29 Jul 2010
Posted To: MBS CommentaryTreasury just sold $29 billion 7s to a group of uninterested buyers... Auction demand as measured by the bid to cover ratio was below average. 2.78 bids were submitted for every 1 accepted by Treasury. Compare that to the ten auction average of 2.81 and the five auction average of 2.86. 25.6% of the issue was awarded at the high yield of 2.394%. This was 2.1bps above the 1pm "when issued" bid, a sign that buyers were looking to pay a little less than they did. Primary dealers took down a much greater award than usual, which explains why the high yield tailed. 48.8% of the issue and 25.1% of what they bid on. Both metrics are above average. This is not indicative of strong buyside demand. Directs were awarded 8.9% of the competitive bid. That makes them 0 for 3 this week. Indirects...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
Fannie Mae Preps Investors for Reform. Book of Business Reflects Tight Credit Conditions
Author: RSS29 Jul 2010
Posted To: MND NewsWireIn the wake of the passage of Wall Street Reform, which many opponents have criticized Capitol Hill for failing to deal with the future of Fannie Mae and Freddie Mac, the Obama Administration is beginning to present the broad outlines of how the future of the GSEs will be determined. In a letter released Tuesday , David H. Stevens, acting commisioner of the FHA, said that the question of reforming the GSEs is "not if, but when." The Obama administration, he said, has made it clear from the beginning that the current structure of the government's role in the housing finance market is unsustainable and unacceptable, but winding down Freddie and Fannie abruptly would destabilize an already fragile housing industry and put the loans already on the books of these institutions at even...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
Are HECM Regulators Acting Unethically Toward the Reverse Mortgage Program?
Author: RSS29 Jul 2010
Posted To: Community CommentaryI recently spoke on two interesting panels at the American Conference Institute’s two day symposium on Reverse Mortgages. The conference was held at the famed Helmsley Park Lane Hotel in the heart of Manhattan. The conference attracted a virtual who’s who in the mortgage and reverse mortgage industry. The speakers and the attendees formed an eclectic group which ranged from major law firms, title companies, quality control experts, compliance examiners, HECM counseling experts and state and federal regulators and various enforcement agencies. There was a genuine desire to understand the program so that enacted policy could be effective. On the first day of speaking, I was joined by Dave Adkins, OTS, Matthew Yoon, Esq. and Arthur Axelson, Esq. I pointed out that HERA could prevent...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
Final Ruling Issued on SAFE Act; Underwriting Guideline Overlays, Adverse Market Fees and Steep LLPAs; CMBS Sales; California State of Emergency;
Author: RSS29 Jul 2010
Posted To: Pipeline PressOn a non-mortgage note, my son asked me, "At what age is it ok to tell a highway that it is adopted? At some point the highway will realize that it doesn't look like the Kiwanis's Club." I would have told him to "keep his day job", except he doesn't have one as he prepares for college. Lots of folks don't have jobs, as re-emphasized by this morning's Initial Jobless Claims number. One industry veteran told me, "The weekly number is just catnip for those who think the economy is limping along," and this morning's numbers came in down 11,000 to 457,000, but continuing claims climbed. Employment is still a huge issue for the economy, but the unemployment situation is certainly helping to keep rates low. We are not done with implementing the...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. Read More Now...
Warning: touch() [function.touch]: Utime failed: Operation not permitted in /home/bringr/public_html/moneytalks/simplepie.inc on line 7270
Oh, to be John Tory
Author: RSS30 Jul 2010
You think you're having a tough day? Just be grateful that you're not John Tory. It has been more than six months since Mr. Tory let Toronto voters know that he wouldn't be throwing his hat into the Toronto Mayoral campaign ring. And yet, despite his professed desire to spend his time differently, there [...]... Read More Now...
Personal credit line balances up 61% since 2007
Author: RSS26 Jul 2010
Is the consumer up to his/her eyeballs in debt? Depends upon whether you are thinking on a gross or net basis. Looking at the corporate loan books of the Canadian banks (see prior post "Canadian corporate bank loans hit three year low" July 24-10) might give you the wrong idea about the banks' proclivity to [...]... Read More Now...
Canadian corporate bank loans hit three year low
Author: RSS24 Jul 2010
According to data released by the Bank of Canada, commercial and corporate lending by Canadian Chartered banks has dropped to depths not seen since June 2007. The category is “Business loans to Canadian residents for business purposes”: December 2008: $191.563 billion January 2009: $185.679 billion February: $183.759 billion March: $184.089 billion April: $181.811 billion May: $180.191 billion June: $177.865 billion July: $176.164 [...]... Read More Now...
The Irish lead the way
Author: RSS15 Jul 2010
This isn't a post about The Open. Something bigger than chasing the white ball around a course in Scotland. Courtesy of AltAssets, I've come to learn that the Irish Government has re-launched a 500 million euro venture capital fund: The Irish government has initiated plans for a €500m venture capital fund to help finance innovative small [...]... Read More Now...
Not seeing the dark clouds
Author: RSS14 Jul 2010
Is the world ending? Not from this perch. As any long time reader will attest, we are a "glass half full" shop. We never worry about things working out; just about what happens if they don't. The U.S. unemployment rate came out at 9.5% the other day, dropping 10 bps solely due to [...]... Read More Now...
Categories
Popular Articles
- Learn About Your Home Equity Lines of Credit – Part Uno
- Personal Finance Terms You Should Know
- Learn About Your Home Equity Lines of Credit – Part Dos
- What is the interest rate on the home equity loan?
- How much money can you borrow on a home equity credit line?
- What are the upfront closing costs on home equity lines of credit?
- What are the “continuing costs” on home equity lines of credit?
- What are the repayment terms during the home equity loan?
- What are the repayment terms at the end of the home equity loan?
- What safeguards are built into a home equity loan?
- A Second Mortgage Vs. A Home Equity Loan
- Mortgage Questions to Ask Your Lender
- Construction Loans – Good as an Interim Measure of Financing Construction Activity
- Lower Mortgage Payments Increase Wealth
- Home Equity Loan: What You Need to Know
- The Online Mortgage Application is The Best Option For Good & Bad Credit
- PMI Private Mortgage Insurance
- More Articles...
Links
- Mortgage Amortization Calculator
- “How much home can I afford” Calculator
- Home Financing and Construction Articles
- Highest Rated Mortgage Articles – RSS Feed
- Bankrate.com: Today\’s Best Mortgage Rates
Friends
Archives
- February 2009
- April 2006
- December 2005
- November 2005
- October 2005
- September 2005
- August 2005
- July 2005