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Archive for October, 2011

Why Mortgage “Checks” Are Not In The Mail

Why Mortgage “Checks” Are Not In The Mail

The checks are no longer in the mail and this is one time you really can blame the government. Until recently the daily mail would often include one or more “checks” to buy or refinance real estate. Such checks looked real with lots of “official” numbers and “genuine” markings. Most importantly, they included your name […]

Posted in: News
Has Mortgage Lending Gotten Better Since Wall Street Reform?

Has Mortgage Lending Gotten Better Since Wall Street Reform?

Has lending really gotten better for borrowers during in the past few years? Certainly mortgage rates have improved. In recent weeks they have been at or near historic lows. But no less important the lending system has improved. It’s not just that mortgage rates are better, it’s also that the probability of getting a good […]

Posted in: News
Guess What? Social Security Has A Profit

Guess What? Social Security Has A Profit

You’ve probably heard that Social Security is going broke, not good news for most of those with hopes of a sane and fiscally-secure retirement. The reality is that for most households Social Security is a central source of retirement funding, especially as more employers have moved from defined benefit plans to defined contribution plans. But, […]

Posted in: News
Why Foreclosures Should Be Slower

Why Foreclosures Should Be Slower

Down in Florida there’s an effort to hurry the foreclosure process by taking courts out of the process. According to the St. Petersburg Times, “Gov. Rick Scott, House Speaker Dean Cannon and Senate President Mike Haridopolos all say they are interested in considering legislation to change Florida laws so judges won’t have to referee foreclosures.” […]

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Are Big FHA Mortgages Really Risky?

Are Big FHA Mortgages Really Risky?

Who will win and who will lose with FHA loan limits that were reduced as of October 1st? The answer may be surprising. In general terms there has been considerable support for lower FHA loan limits for several reasons. First, lower FHA limits mean more opportunities to sell private-sector loans. Second, the FHA has long […]

Posted in: News
The Fake “Run” on Banks

The Fake “Run” on Banks

Oh no, someone is proposing a “run” on the banks! Hide the children and womenfolk, or at least do what banks do and lose the mortgage note. “Incredible,” headlines the Washington Times, “Dick Durbin urges run on Bank of America.” “UNPRECEDENTED,” echoes Fox News. “Dick Durbin Tells Citizens ‘Get The Heck Out’ of Bank of […]

Posted in: News
Washington Special Interests and Mortgage Loans

Washington Special Interests and Mortgage Loans

“Pro-Housing Policies will Stimulate Job Growth” says the National Association of Home Builders. Well, good, where do we start? What exactly are those “pro-housing” policies? “The inventory of new homes for sale is at a record low and there are many areas of the country that are approaching a housing shortage. Tight credit conditions are […]

Posted in: News
American Chopper — Management Doesn’t Get It

American Chopper — Management Doesn’t Get It

There’s probably no better show that reflects workplace tensions than Discovery Channel’s American Chopper. How do you deal with skilled workers when you’re the owner? Orange County Choppers is a success story, in the sense of something that grew over time to a business that included a custom-built “international headquarters” to construct and show bikes. […]

Posted in: News
How Steve Jobs Would Have Fixed The Mortgage Mess

How Steve Jobs Would Have Fixed The Mortgage Mess

The passing of Steve Jobs came too soon. It didn’t matter if you were a fan of Apple products or not, no one would deny that Jobs radically changed the worlds of computing, music, movie animation and product design — and all for the better. Our condolences to his family and friends. Unfortunately, there’s no […]

Posted in: News
Firms Accused of Fleecing VA Mortgage Borrowers
By October 6, 2011 0 Comments Read More →

Firms Accused of Fleecing VA Mortgage Borrowers

Thirteen lenders — including Wells Fargo, JP Morgan Chase and Bank of America — allegedly collected illegal fees worth millions of dollars from VA borrowers. In hundreds of thousands of VA refinancing transactions, the lenders allegedly charged an additional $300 to $1,000 per loan, according to claims made in a lawsuit by two whistleblowers. In […]

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