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
Category: Housing Market
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
Foreclosures Fall 12 Straight Months
By Kevin Chiu Foreclosures fell for 12 straight months in September marking possibly the end of the robo-signing slowdown, according to RealtyTrac. Filings were down 6% from August and 38% from a year ago, which may signal a speed-up in the formal repossession process affecting millions of homeowners at risk of losing their homes to… Continue reading Foreclosures Fall 12 Straight Months
Mortgage Rates Drop to All Time Record Lows
By Mike Colpitts For the second week in a row mortgage rates dropped to all-time record lows as the U.S. government attempts to energize the housing market and Treasury bonds fall to record lows. The fixed rate on a 30-year mortgage averaged 3.94%, falling below 4% for the first time in U.S. history, according to… Continue reading Mortgage Rates Drop to All Time Record Lows
Seven Ways to Green Homes on the Cheap
By Jeanne Roberts It’s nice to own real estate, even nicer to own a home. But nicest of all is knowing that your home, which shelters all your loved ones has a small impact on the earth and the other creatures that also live here. You’ve heard about one’s carbon footprint, those dark blots on… Continue reading Seven Ways to Green Homes on the Cheap