Distressed Real Estate and Debt: News, Views and Reviews of our New Housing Economy
Like it’s homely siblings, Fannie Mae and Freddie Mac, Ginnie Mae is central to our housing economy. It facilitates affordable housing a reality for millions of low-and...
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Like it’s homely siblings, Fannie Mae and Freddie Mac, Ginnie Mae is central to our housing economy. It facilitates affordable housing a reality for millions of low-and...
Read More
Like it’s homely siblings, Fannie Mae and Freddie Mac, Ginnie Mae is central to our housing economy. It facilitates affordable housing a reality for millions of low-and...
Read More
As I negotiate $1 million in fines levied against three assets that were part of a larger bulk purchase a few months back, today’s story in National Mortgage News comes as no...
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Jun 5, 2011
Anyone lending in “higher loan amount areas” should read the latest from HUD on the probable/possible changes that will take place on October 1. “Barring Congressional action, Federal Housing Administration (FHA) loan limits will revert back to loan limits determined under the Housing and Economic Recovery Act (HERA) for loans insured by FHA on...
May 31, 2011
By Oliver Wright Esq. The FDIC sold $1.2 billion of commercial mortgages during the second quarter in 171 transactions, recovering $650 million, or nearly 55 percent of the loans‘ principal balance. It has sold those loans to a total of 147 investors in 417 transactions. During the latest quarter, according to FDIC data compiled...
May 31, 2011
posted by OLIVER WRIGHT ESQ. What is Mortgage Backed Securitization? Distilled down to the basics, a company (financial or non-financial Sponsor) securitizes mortgage assets when it: (1) pools a discrete group of cash flow producing assets with similar characteristics (usually financial institution originated, self-liquidating loans with similar terms,...
May 30, 2011
posted by Oliver Wright Esq. Though housing starts are slow just when they should be heating up seasonally, the foreclosure market is performing better than the market for all other homes, according to today’s DS Newws story on the RPX Housing Market Report. [pullquote]Investors believe they can purchase these properties at a significant discount to their...
May 29, 2011
Many of the securitizations done this year were collateralized by legacy mortgages. Due to the seasoned nature of these loans, there were often various deficiencies, prior to securitization, with respect to the completeness of key mortgage documents, some of which may impede a lender’s ability to foreclose on a property. In an environment where foreclosure is...
