By Jeanne Roberts Freddie Mac and Fannie Mae are the U.S. two largest mortgage holders. Between them, they own 75% of all the home loans issued in the nation. Thanks to the bursting of the housing bubble and the resulting fallout, the American taxpayer – under the umbrella of the U.S. government, also owns 80%… Continue reading Defining U.S. Socialism Hurts With Freddie Mac and Fannie Mae
Category: 2011 Housing Market
First Time Homeownership Slips
By Mike Colpitts Despite first time home purchases increasing due to record low mortgage rates and lower home prices, the actual rate of first time homeownership is slipping for the largest homebuyer age group, according to a survey released by a real estate research firm. The latest trends report from CoreLogic shows homeownership rates for… Continue reading First Time Homeownership Slips
Underwater Refinancing Program Closer
By Mike Colpitts A federal program intended to help underwater homeowners should assist more than 1-million U.S. mortgage borrowers refinance their homes, according to an analysis of the Home Affordable Refinance Program expanded by the Obama administration Monday. The program’s expansion is being developed by the Federal Housing Finance Agency with mortgage lenders and the… Continue reading Underwater Refinancing Program Closer
New Mortgage Credit Risk Analysis In Development
By Mike Colpitts Two of the nation’s largest financial firms have teamed up to produce a new credit risk analysis scoring product to determine whether mortgage applicants qualify for home loans. A division of CoreLogic, Credco and FICO – the leading provider of analytics and decision management technology for the financial industry signed an agreement… Continue reading New Mortgage Credit Risk Analysis In Development
U.S. Divided on Occupy Wall Street Protests
By Mike Colpitts The U.S. is divided about any good that will come from protests associated with the group Occupy Wall Street that started demonstrations in New York City and have spread across the world, according to a new opinion poll. The survey was taken over the past two weeks, during which protests moved from… Continue reading U.S. Divided on Occupy Wall Street Protests
It’s Not Your Parent’s 15 Year Mortgage
By Jeanne Roberts Thanks to lower mortgage rates and creative bankers, the standard mortgage that our parents would have recognized – 30 years at a specified rate of interest with fixed and equal monthly payments – is no longer the rule. In fact, it may soon become the exception, but not because first-time home buyers… Continue reading It’s Not Your Parent’s 15 Year Mortgage
Short Sale Transparency Law Proposed
By Mike Colpitts A law that would force bankers to provide the minimum price they would take for a home in a short sale has been introduced in Congress in an effort to aid the housing market. The bill, authored by House member Susan Davis (D-San Diego) was introduced to give homeowners at risk of… Continue reading Short Sale Transparency Law Proposed
HARP Hopeless Re-election Ploy
By Lance Roberts Economist It’s campaign time and the Obama administration is in full GGG (Government Goodie Giveaway) mode as President Barack Obama travels from sea to shining sea seeking to regain support of the disgruntled masses. With the jobs program a failure due to inaction from Congress, and the fact that the plan was… Continue reading HARP Hopeless Re-election Ploy
Miami May Set Real Estate Sales Record
By Kevin Chiu As one of the most battered real estate markets in the U.S. few would think Miami was in any position to be setting records. But the sale of homes, townhouses and condominiums is on pace to set a new record for the year in the Florida market, according to the Miami Realtors… Continue reading Miami May Set Real Estate Sales Record
Home Sales Slide, But Above Year Ago Levels
By Mike Colpitts Homes sales slipped in September following a gain the previous month, but remained ahead of a year ago, according to the National Association of Realtors. The slide in sales represented only a small 3% decrease. Existing home sales, which include the sale of single family homes, townhouses and condominiums, reached an adjusted… Continue reading Home Sales Slide, But Above Year Ago Levels