Jan 3, 2012

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 moderate-income American households across America by channeling global capital into U.S. housing markets. The Ginnie Mae guaranty allows mortgage lenders to obtain a better price for...

Sep 7, 2011

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 great suprise: As if there were not enough considerations for investors sizing up the many distressed mortgage asset-backed securities still out there, it looks now like they should...

Sep 6, 2011

Last week, the Illinois Association of Realtors admitted that it has overstated the median prices for homes sold in Chicago since early 2008. The group said the mistake occurred in data processing and was not intentional. It acknowledged that data exaggerated the median sales price for May, but said it may have made a similar error in monthly reports for the...

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,...