Jun 23rd 2010 9:16AM
Homeowners, who are slipping on their mortgage payments and unable to change their financial position, may feel like they are in a dead-end spiral and have no option but to walk away or resort to a short sale. But brokers say that it is possible for underwater homeowners with adjustable-rate mortgages to obtain something... Continue Reading »
May 28th 2010 4:00PM
Just because versions of financial reform have passed the House and Senate doesn't mean the mortgage lobbyists' job is over yet. The Senate bill put limits on how much money a mortgage broker or banker can make when they sell you a mortgage. Now mortgage industry associations are fighting to protect their right to profit... Continue Reading »
Apr 9th 2010 9:00AM
During Times of Universal Deceit, Telling The Truth is a Revolutionary Act - George Orwell. One of my favorite quotes. It brings me back to an epiphany I had in my former life as the owner of a mortgage brokerage, real estate brokerage and construction firm. The epiphany was about transparency -- or the lack thereof -- in... Continue Reading »
Feb 9th 2010 3:30PM
Heard of HVCC? It's not a heating and ventilation system for the home (that's HVAC), nor is it an infectious disease. HVCC is the Home Valuation Code of Conduct, a controversial set of guidelines established by Fannie Mae and Freddie Mac in May 2009. By setting up a sort of firewall between lenders and appraisers, in the... Continue Reading »
Jan 7th 2010 1:10PM
Give the Federal Reserve some credit. Not only is it (for now) propping up a broken mortgage finance system with a trillion-dollar-plus commitment to buy mortgage-backed securities from Fannie Mae, Freddie Mac, and Ginnie Mae, the Fed is also combing through its regulations to fix glaring vulnerabilities, so the current... Continue Reading »
