Latest News in Mortgages and Home Loans- Dec 02, 2008

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Mortgage Market News: Fannie Mae, Bush Administration
It’s a busy Monday morning in the world of mortgage market news. One of the big pieces of news comes from Fannie Mae (and other mortgage lenders). The other piece of news is rather damning evidence that the Bush Administration was pretty well aware of what was coming in terms of the mortgage market crisis. […]

Federal Neighborhood Stabilization Program Aims to Prevent Foreclosures
There have been a lot of programs and plans announced over the past year or so meant to prevent foreclosures and stop their effect on the economy. One of the latest programs is one introduced as the Neighborhood Stabilization Program. This program is rolled out on the federal level, and aims to target areas that […]

Happy Thanksgiving from the Bank.com Mortgage Blog!
Just wanted to take the time to, on behalf of the Banks.com Mortgage Blog, wish you all a very:
Happy Thanksgiving!
I’ve come to the conclusion that Thanksgiving is, in fact, my favorite holiday. I was pondering this when my husband asked me, “If Christmas isn’t your favorite holiday, what is?” And I realized that, even though […]

Mortgage Market News: Applications Up
Mortgage applications rose last week, thanks to an increase in those looking to refinance or buy. However, even though the Mortgage Bankers Association reports that overall mortgage applications are up, the specifics are less encouraging. Mortgage applications are still down as compared to this time last year, and fixed rate mortgage applications were down.
ARMs looking […]

Federal Reserve Acts to Send Mortgage Rates Lower
This morning, the Federal Reserve announced a plan specifically designed to send mortgage loan interest rates lower. Right now, mortgage rates are higher than they should be, and that is discouraging some buyers. The new program initiated by the Fed will include directly buying housing-related and mortgage-related obligations from Freddie Mac and Fannie Mae, as […]

National Association of Homebuilders Wants its Own Stimulus Package
With all the largess flowing from Washington, it’s starting to become difficult in terms of figuring out where money is going (no one’s worried about where it’s coming from, at any rate). And I know everyone’s all about the Citi bailout this morning, but another stimulus may be on the way. This one may have […]

Buying a Home: The 20% Down Payment is Making a Comeback
Back when my parents bought their first home, a 20% down payment was a must. You weren’t even considered for home mortgage loan unless you had 20% down. Straight-up. No fancy piggy-back loans or other “creative financing.” Nope. You had to have a 20% down payment.
Somewhere between when my parents bought their first home 30 […]

Are Foreclosure Vouchers the Answer to the Mortgage Market Mess?
There are a number of plans being proposed right now with regard to how to fix the mortgage mess by preventing foreclosures. Unfortunately, a lot of the ideas circulating out there are variations on a familiar theme: Throw money at a problem and hope it goes away.
Someone else is coming out with a new idea, […]

Housing and Mortgage Market News: Starts and Applications Fall
There are two bits of housing and mortgage market news that have recently come out: Both housing starts and mortgage applications are declining. In this economy, things are getting a little dicey, and it is more difficult to get a loan — and fewer people are even bothering. And as a result of declining interest […]

Seller Financing Gains in Popularity in this Economy
One of the issues right now in the housing market is how difficult it is to get lender financing. After all, many lenders are reluctant to lend. They’ve gone from offering loans to just about anyone to the other extreme: Getting approved for a mortgage loan can be a lot of hassle.
Which is why seller […]

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