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Keyword: mortgages

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  • personal investments management during a civil war

    12/05/2020 5:18:14 AM PST · by SteveH · 185 replies
    me | 2020-12-5 | me
    any thoughts? i am thinking * payoff mortgage immediately * divest from all stocks, mutual funds, bonds 50% now, 25% next week if bad news continues * move into precious metals now, 50% from cash in bank now, 25% next week if bad news continues * pay off any mortgage (if overall finances allow, eg, if mortgage currently being used as income tax dodge) * (current blue state residents) prepare for possibility of a need to leave home with very little advance notice, travel to nearest solid red state - have or buy a decent auto, preferably 4x4 truck. plan...
  • January Is Going To Be A Mess - A Tsunami Of Evictions Expected Across US

    10/23/2020 12:24:00 PM PDT · by Roman_War_Criminal · 23 replies
    PNW ^ | 10/22/20 | Tyler Durden/Activist Post
    The Trump administration walked back federal protections for renters in early October, even though rent moratoriums were still in effect, which allowed property owners and operators to begin the eviction process for millions of people as tens of billions of dollars in back rent is coming due. In early September, the CDC published new, temporary guidelines to halt evictions because of the virus pandemic. The public health agency said: The CDC, located within the HHS announces the issuance of an Order under Section 361 of the Public Health Service Act to temporarily halt residential evictions to prevent the further spread...
  • Bin Laden the Communist

    09/10/2007 10:17:29 AM PDT · by Tailgunner Joe · 10 replies · 845+ views
    washingtonpost.com ^ | September 10, 2007 | William M. Arkin
    Since Osama bin Laden made his first appearance in almost three years on Friday, the government and the news media have exhaustively scrutinized his video for clues as to the Saudi terrorist's whereabouts and well-being. ...his message has been dismissed as meaningless psychological warfare and propaganda, put forward in a claim for relevance on the sixth anniversary of September 11. But what bin Laden actually says in his "message from Sheikh Osama bin Laden to the American people" has the potential to be quite revealing. Gone is any mention of Israel, of the Christian and Jewish crusaders, or of the...
  • 30% Of Americans Missed Their Housing Payments In June

    06/22/2020 4:50:29 PM PDT · by Enlightened1 · 35 replies
    CNBC ^ | 06/16/20 | Alicia Adamczyk
    As the United States continues to face record unemployment due to the coronavirus pandemic, 30% of Americans missed their housing payments in June, according to a survey by Apartment List, an online rental platform. That’s up from 24% who missed their payment just two months earlier in April and about on par with the 31% who missed payments in May. Renters, younger and lower-income households and urban dwellers were the groups most likely to miss their housing payments, Apartment List found.   At the same time that this “historically high” rate of Americans are missing their housing payments, eviction protections put in place at...
  • Vanity: Anyone tried a mortgage re-fi lately? Where is the best value?

    03/22/2020 10:59:18 AM PDT · by Eccl 10:2 · 84 replies
    03/22/2020 | me
    I'm specifically looking for a cash-out refi, low rate, low expense. Thanks.
  • Mortgage Market Reopens to Risky Borrowers

    08/21/2019 8:25:03 AM PDT · by Mariner · 20 replies
    The Wall Street Journal ^ | August 21st, 2019 | By Ben Eisen
    The risky mortgage is making a comeback. More than a decade after home loans triggered the worst financial crisis in a generation, the strict lending requirements put in place during its aftermath are starting to erode. Home buyers with low credit scores or high debt levels as well as those lacking traditional employment are finding it easier to get credit. The loans have been rebranded. Largely gone are the monikers subprime and Alt-A, a type of mortgage that earned the nickname “liar loan” because so many borrowers faked their income and assets. Now they are called non-qualified, or non-QM, because...
  • Trump signs Sinema bill to protect vets from predatory mortgages

    08/13/2019 11:13:15 AM PDT · by KC_Lion · 26 replies
    AZPM ^ | 29 July 2019 | Christopher Conover
    (Audio Link at Source)President Trump signed Sen. Kyrsten Sinema's bill July 25. The proposal closes a loophole in federal law that allowed some veterans to get caught up in predatory home refinance deals. The problem was certain VA loans could be easily churned, or resold. The new law prevents that from happening before a cooling-off period. "So veterans won't get stuck with these refinancing fees over and over again," said Sinema.
  • In Denmark, 20-year mortgage rates just fell to zero for the first time ever

    08/09/2019 8:19:59 AM PDT · by C19fan · 43 replies
    Fox News ^ | August 9, 2019 | Megan Henney
    U.S. mortgage rates may be low, but they're likely even more attractive to homebuyers in Denmark. Danish 20-year fixed-rate mortgage loans just hit a new low: Zero.
  • Fannie and Freddie Back More Mortgages of Those Deeply in Debt

    05/13/2019 5:09:28 AM PDT · by reaganaut1 · 18 replies
    Wall Street Journal ^ | May 13, 2019 5:30 a.m. ET | Ben Eisen
    The gatekeepers of the American mortgage market are increasingly backing loans to borrowers who have heavy debt loads, highlighting questions about mortgage risk as policy makers debate ways to change the system. Almost 30% of loans that mortgage giants Fannie Mae and Freddie Mac packaged into bonds last year went to home buyers whose total debt payments amounted to more than 43% of their incomes, according to an analysis by industry research group Inside Mortgage Finance. The share has nearly doubled since 2015. Data on other government mortgage programs also show an increase. The backing of these loans opens up...
  • SHELLPOINT REPRESENTATIVE ADMITS UNDER OATH THAT MERS IS NOT THE BENEFICIARY OF A DOT

    08/18/2018 9:26:18 AM PDT · by RideForever · 53 replies
    Foreclosure Defense Nationwide ^ | July 26, 2018 | Jeff Barnes, Esq., www.ForeclosureDefenseNationwide.com
    Today, during a deposition of the designated representative of the Bank of New York as Trustee for a Countrywide CWMBS securitization, the representative (who is an attorney and employee of the servicer Shellpoint) admitted under oath that MERS is not the true beneficiary of a Deed of Trust (DOT) despite claiming to do so, as the Beneficiary is the lender and MERS is not and was never the lender. The representative also admitted that the Substitution of Trustee filed by a law Firm and signed by Shellpoint (as a dba of New Penn Financial) contained a false statement that the...
  • LoanStream Mortgage plots expansion, plans 30-state hiring spree

    08/07/2018 6:03:06 PM PDT · by 2ndDivisionVet · 7 replies
    Housing Wire ^ | August 7, 2018 | Ben Lane
    LoanStream Mortgage, a California-based mortgage lender that specializes in wholesale lending through mortgage brokers and consumer direct lending through a series of branches, is planning a serious nationwide expansion. The company announced Tuesday that it is plotting a 30-state expansion and plans to hire a boatload of mortgage professionals to lead that growth. The company offers conventional loans, Federal Housing Administration loans, as well as a growing set of mortgages outside the Qualified Mortgage box, including loans up to $10 million and loans to borrowers without permanent residency. The company’s “NanQ” lending program offers stated income, verified asset loans for...
  • Freddie Mac to help unemployed mortgage borrowers in high-need areas get a job

    06/19/2018 8:38:40 PM PDT · by 2ndDivisionVet · 19 replies
    Market Watch ^ | June 14, 2018 | Andrea Riquier
    Mortgage financier Freddie Mac on Thursday announced a program to help unemployed homeowners find a job, part of the federally required initiative known as “Duty to Serve” that requires Freddie and its counterpart Fannie Mae step up their efforts to serve low- and moderate- income communities. In particular, Duty to Serve directs the two enterprises to improve their activities in manufactured housing, rural housing and preservation of existing affordable housing. The new initiative builds on a 2015 pilot program between Freddie and job-placement firm NextJob. That pilot included 700 participants, of whom half were considered long-term unemployed. Qualified participants averaged...
  • Odd things tucked into the GOP tax plan

    12/04/2017 6:32:25 PM PST · by golux · 22 replies
    Axiom ^ | December 2, 2017 | Haley Britzky
    The GOP tax plan was passed through the Senate Friday night in a 51-49 vote. There are a number of things included in the last-minute text, including a provision by Sen. Gardner of Colorado that exempts Kombucha, a fermented tea drink, from alcoholic taxes and regulations. Why it matters: These are small examples of what got slipped in the bill last-minute as the Senate vote neared, and some reveal senators' pet projects back in their home states. Odd amendments included in the tax plan: Sen. Orrin Hatch Prohibit things like cash and gift cards to be given as employee achievement...
  • New American Funding Launches Training Program for Mortgage Professionals

    11/02/2017 12:01:01 PM PDT · by 2ndDivisionVet · 1 replies
    Cision ^ | November 2, 2017
    TUSTIN, Calif., Nov. 2, 2017 /PRNewswire/ -- New American Funding, a leader in the mortgage industry, announced today the launch of its new STEP program, a corporate training curriculum that's designed to prepare people for a career in mortgage banking. STEP, which is Specialized Training Empowering People, is a nationwide program that was developed by the company to equip people for working in every aspect of the industry. STEP provides live weekly online and onsite classes that cover a spectrum of topics ranging from the fundamentals of mortgage banking to compliance education to the specifics about loan products. It's designed...
  • Here’s what it looks like when foreclosure ‘pig’ moves through housing-crisis ‘python’

    07/25/2017 8:06:16 AM PDT · by Lorianne · 19 replies
    Market Watch ^ | 25 July 2017 | Andrea Riquier
    As the effects of the housing crisis further recede, markers of distress are declining, with one notable exception: Among the batches of severely delinquent mortgages bought by institutional investors, foreclosures are on the rise. The trend is a reminder of the reasons many community advocates resisted allowing institutional investors to buy delinquent mortgages in government auctions that began in 2010. Wall Street, those advocates said, shouldn’t be rewarded for its role in creating the housing crisis with the chance to buy for pennies on the dollar the very assets whose values it dented. The government auctions promised a risk-sharing solution...
  • Genpact to open office in Jacksonville, hiring up to 200 ($53,000 a year in Florida)

    06/27/2017 6:10:55 PM PDT · by 2ndDivisionVet · 10 replies
    The Florida Times-Union ^ | June 21, 2017 | Roger Bull
    A business services company is opening an office in Jacksonville, with plans to hire up to 200 people in its first year. Genpact’s office will open next month in Capital Plaza office park on Deerwood Park Boulevard on the Southside. The company provides a variety of services across multiple industries. But a spokeswoman said Wednesday that when the Jacksonville office opens, it will provide mortgage processing services for one particular client that she would not name. The work will include processing, underwriting, closing and with quality assurance and HR positions. The non-supervisory positions will average $53,000 a year, and some...
  • Homeowners Are Again Pocketing Cash as They Refinance Properties

    05/29/2017 9:55:35 AM PDT · by Lorianne · 13 replies
    Wall Street Journal ^ | 27 May 2017 | Christina Rexrode
    Americans refinancing their mortgages are taking cash out in the process at levels not seen since the financial crisis. Nearly half of borrowers who refinanced their homes in the first quarter chose the cash-out option, according to data released this week by Freddie Mac. That is the highest level since the fourth quarter of 2008. The cash-out level is still well below the almost 90% peak hit in the run-up to the housing meltdown. But it is up sharply from the post-crisis nadir of 12% in the second quarter of 2012. In a cash-out refi, a borrower refinances an existing...
  • US Housing Market In Peril As "Increase In Mortgage Rates Has Shocked Consumers"

    11/28/2016 10:41:10 AM PST · by Lorianne · 53 replies
    Zero Hedge ^ | 27 November 2016 | Tyler Durden
    While rising treasury yields may be music to the ears of savers who have been crushed by low interest rates over the past 7 years, they're a bit of downer for the overwhelming majority of Americans that have been funding their lavish lifestyles with cheap debt. Yes, sadly the days of upgrading to the $65,000 luxury car despite a $40,000 annual salary, because you can "afford it" so long as you can cover the low monthly payments courtesy of 7-year terms and low interest rates, may finally be coming to an end. But auto OEM's aren't the only ones about...
  • Sale of Federal Mortgages to Investors Puts Greater Burden on Blacks, Suit Says

    08/15/2016 11:24:11 AM PDT · by reaganaut1 · 22 replies
    New York Times ^ | August 14, 2016 | JESSICA SILVER-GREENBERG and MICHAEL CORKERY
    For years, the federal government avoided insuring mortgages in black neighborhoods, a practice known as redlining that exacerbated racial divides throughout America’s cities. Redlining has long been outlawed, but in New York City, the federal government is again disproportionately hurting black homeowners, according to a federal lawsuit filed by a nonprofit that represents low-income New Yorkers. This time, the suit says, the government is fueling racial disparities not through its lending policies but in how it handles foreclosures. Since the financial crisis pushed thousands of homeowners in New York and across the country into foreclosure, the federal Department of Housing...
  • Countrywide Mortgage Devastation Lingers as Ex-Chief Moves On

    06/25/2016 12:17:28 PM PDT · by Reverend Wright · 15 replies
    NY Times ^ | June 24, 2016 | Gretchen Mogensen
    Angelo Mozilo can finally get on with his life. This month the Justice Department told Mr. Mozilo, the former chief executive of Countrywide Financial, once the nation’s largest subprime mortgage lender, that he was no longer under investigation in connection with civil mortgage fraud. The government’s criminal inquiry into Mr. Mozilo’s role in the financial crisis was dropped previously, so he is now in the clear. At least that’s the view from Washington. On Main Street, where the pain of Countrywide’s reckless lending and abusive foreclosure practices still throbs, it’s safe to say that Mr. Mozilo is still identified as...