From the category archives:

Sub-prime Meltdown

Billionaire invests $1.1 Billion in Sub-prime Mortgages

March 19, 2008

This got missed due to the Bear Stearns circus…..
Option One Mortgage sold for $1.1 Billion
Billionaire investor Wilbur Ross has reached an agreement to acquire the mortgage loan servicing business of H&R Block’s Option One Mortgage, forming the second largest mortgage servicing company in the United States.
The $1.1 billion deal adds to the acquisition by WL [...]

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Did Bear Stearns Fail due to Sub-prime Mortgages last summer?

March 19, 2008

Did Bear Stearns fail due to sub-prime mortgages way back last Summer?
Found this from JULY 2007
Bear Stearns admits two subprime mortgage funds are worthless
Submitted by cpowell on Wed, 2007-07-18 01:05. Section: Daily Dispatches
By Joey Bel Bruno
Associated Press
Tuesday, July 17, 2007
NEW YORK — Bear Stearns Cos. told clients Tuesday that a meltdown in the subprime [...]

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Slimy Appraisers blamed for Mortgage Mess?

March 3, 2008

An a move to “clean up the mortgage mess” Fannie and Freddie will require tougher standards for appraisers – most notably the mortgage broker can no longer hire the appraiser
Fannie and Freddie agreed to a new code that would govern appraisal selection, compensation, conflict of interest and other issues. Under the code, mortgage brokers [...]

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10 Year Treasury is at 2003 levels – Time to Refi?

January 24, 2008

Source: BaltimoreSun.com
If you can refinance and you can find a flat fee mortgage then you may want to strongly consider the refinance option.
Refinancing needs
With mortgage rates falling, many consumers are considering refinancing their loans. But the requirements are different in this post-credit crunch. Some things you’ll need:
• Good credit, with a minimum score in the [...]

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Mortgage Crisis – Explained

January 18, 2008

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Mortgage Contract on the way?

January 18, 2008

In a follow-up to our prediction in February 2007 -
http://mortgageblog.com/mortgage-contract/mortgage-contract-coming-soon/
Mortgage Contract in the works?
With the house democrats voting 100% in favor of HR 3915 Mortgage Reform and Anti-Predatory Lending Act of 2007 – it appears that a national mortgage contract is going to be adopted for consumers that wish to take out a [...]

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Is the Mortgage Broker DOA?

December 14, 2007

Just a question but I am starting to think that the mortgage broker model may be broken. Forever. That’s a shame too because most of them are good, honest business people. The recent problems in the mortgage business are a case where a few bad apples have ruined the bunch.
Conceptually the mortgage broker, [...]

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Foreclosures VS Fraud

December 6, 2007

Interesting table below – if you remove Nevada* from the top foreclosure list and slide everyone else up a position you would have a direct correlation between the top 3 foreclosure states and the top 3 mortgage fraud states. 7 of the 10 top mortgage fraud states are on the top 10 list of [...]

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FBI report on Mortgage Fraud

December 6, 2007

With soaring foreclosure reports many imagine families on the street, couches on the curb and the other sad images of home foreclosure. Seems that many foreclosed homeowners may not have ever existed.
This FBI Report suggests that many foreclosures are being made on straw buyers – and the foreclosures are on properties that were never [...]

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Housing Data

November 29, 2007

clipped from www.bloomberg.com

U.S. House Prices Decline for First Time Since 1994 (Update1)

By Sharon L. Crenson

Nov. 29 (Bloomberg) — U.S. home prices declined for the
first time since 1994 in the third quarter as foreclosures
increased and lenders tightened mortgage requirements, according
to a government report.
[...]

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Steve Forbes on Sub-prime mortgage mess and The Fed

October 18, 2007

Steve Forbes speaks at TRAFFIC in Miami, FL – shot from a phone so quality is not too great. Mr Forbes seems to think that the Fed waited a little too long to act but he sees the risk as being spread across many investors and portfolios therefore not a huge blow to any [...]

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Bueller, Bueller, Bueller -

March 22, 2007

Ben Stein says there is no sub-prime crisis
Watch here…
http://www.cbsnews.com/sections/i_video/main500251.shtml?id=2582087n

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