Matt Carter of Inman News reports that both houses of Congress have passed an economic stimulus package which includes raising the conforming loan limit substantially. It is believed the new limit in California will be $729,750.
I think we will need a few weeks to let the “dust settle” before it becomes clear exactly how the […]
Entries Tagged as 'Sub-Prime Mortgage Issue'
Fannie Mae Freddie Mac loan limits have been increased !
February 8th, 2008 · No Comments
Tags: Pending Legislation · Sub-Prime Mortgage Issue · Real Estate Finance · Real Estate
2008 will bring change to FICO score calculations
December 23rd, 2007 · No Comments
The Wall Street Journal reports that Fair Issac will change the way their credit scores are calculated. The new system will be more forgiving on an occasional late payment but will be harder on repeat offenders. The FICO score developed by Fair Issac is used overwhelmingly my most real estate lenders.
Tags: Credit Information · Sub-Prime Mortgage Issue · Real Estate Finance
Bay Area Foreclosures
December 17th, 2007 · No Comments
The San Francisco Chronicle ran an informative and illiminating article Sunday on Bay Area Homes in Foreclosure.
6,557 Bay Area homes and condos were foreclosed on my lenders in the first 9 months of the year.
Of these, nearly 1 and 6 (a little under 1,000) were owned by individuals who lost more than 1 property to foreclosure […]
Tags: Credit Information · Sub-Prime Mortgage Issue · Real Estate Finance
It’s very rare - a balanced newspaper article about real estate
September 11th, 2007 · No Comments
This unusual event took place in this Sunday’s September 9 New York Times.
The headline in the article was “It’s Time to Take a Deep Breath“.
How true !
The following points were made by Ben Stein:
1. The sub-prime mortgage industry helped many individuals to buy a home - without the sub-prime mortgage industry many of these individuals […]
Tags: Sub-Prime Mortgage Issue · Real Estate Finance · Real Estate
The Sky isn’t falling !
August 14th, 2007 · No Comments
I just got back from Hawaii this weekend - just in time to miss Hurricane Flossie !
But while I was away I missed the fact that some believe the sky is falling and the real esate market is about to collapse.
As I headed to the gym on Saturday morning, I put all the SF Chronicles that […]
Tags: Sub-Prime Mortgage Issue · Real Estate