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FinReg Impact: Mortgage Lending Changes ….

By: Myles, July 19th, 2010

The Senate just passed, and the President is ready to sign, the Financial Regulation (FinReg) Bill, which will signficantly impact home buyers and lending guidelines. Amongst the changes impacting consumers is the creation a Consumer Bureau at the Federal Reserve and the requirement that lenders ensure a borrower is able to repay a home loan by […]

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Posted in Financal Regulation, Bankers, Mortgages | No Comments »

How bad is the residential mortgage picture?

By: Myles, February 24th, 2010

 In a word, the residential mortgage picture is: BAD.
As reported by MarketWatch, more than 11.3 million homeowners — nearly one-fourth of all Americans with a mortgage — owe more on their loan (or are “under water”), than their home is now worth, according to a report released February 23, 2010, by FirstAmerican CoreLogic.

More than 10% of […]

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Posted in Economy, Foreclosure, Debt, Housing, Short Sale, Foreclosures, Cresession, Home Equity, Bankers, Residential Real Estate, Delinquency Rates, Market Trending | No Comments »