The notion of a bubble is an illusion created by fewer distressed sales.
Table to see how long you have to wait.
Required reading for mortgage and housing watchers.
A typical loan took 42 days to close in March. And many other fun facts.
A closer look at some of the housing fixes being discussed.
Today’s links on loan limits, debt ceiling options, U.S. and Europe’s debt quagmires, Finreg year 1, trading don’ts, and your best source for NFL news. -‘Sacred AAA Rating’ At Risk Even Without Default (InvestmentNews) -Debt Ceiling Charade: The 3 Smart Options (CalculatedRisk) -“Impossible Math” behind Euro Crisis (PragmaticCapitalist) -Mortgage Bankers Reverse Course On Loan Limits
Today’s links include short sale vs. foreclosure tips, two posts from StoneStreetAdvisors who’s on fire this week, and Sage words on analyzing markets—a must-read for mortgage folks who stare at MBS charts all day. So click play on the funky bilingual Cinco De Mayo soundtrack and read up… -Has bay area real estate gone bonkers?
The folks at FICO Labs are coming out with a new way to predict the likelihood a borrower will default, even if they can afford their mortgage. Predicting strategic defaults is the goal, with a strategic default being where borrowers, who can afford their monthly mortgage payment, opt not to pay it – often because
What If All Mortgages Were 1% Lower? A Wall Street acquaintance of mine wrote to me about dropping trillions of dollars of mortgages by 1%. “I think that something like it may just happen. Many people I’ve talked to have said the same thing: ‘The money would go directly to the borrowers to help our
Short Sales Take 6-13 Months A study put out by Deutsche Bank ranked GMAC ranked as the top servicer among all prime mortgage servicers based on short sale timelines – six months! The investment bank’s survey showed that a short sale generated a higher recovery than an REO sale. For “prime” short sales, GMAC was