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  • Thu, Jul 23 2015
  • 12:40 PM » Is this what will push millennials into the housing market?
    Published Thu, Jul 23 2015 12:40 PM by Market Watch
    Reduction of private mortgage insurance for FHA loans may be creating more first-time home buyers.
  • 11:20 AM » Fannie Mae ups its outlook for home sales
    Published Thu, Jul 23 2015 11:20 AM by Market Watch
    Mortgage-finance giant Fannie Mae turned up its 2015 forecast for U.S. home sales on Thursday, chiming in with other economists who see the market ramping up this year.
  • 11:20 AM » Hamptons real estate sales slowing down
    Published Thu, Jul 23 2015 11:20 AM by CNBC
    After demand spiked in 2014, the housing market in the luxury destination is seeing falling prices and sales.
  • 10:29 AM » Mortgage Rates Dip
    Published Thu, Jul 23 2015 10:29 AM by freddiemac.mwnewsroom.com
    Mortgage Rates Dip
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 10:29 AM » Jumbo-Loan Market Remains Strong in First Half of 2015
    Published Thu, Jul 23 2015 10:29 AM by www.realtor.com
    The Fed's threat of a springtime rate increase didn't come to pass, which fueled the jumbo-mortgage market in the first half of 2015. The post Jumbo-Loan Market Remains Strong in First Half of 2015 appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 9:04 AM » Weekly jobless claims drop to lowest level since '73
    Published Thu, Jul 23 2015 9:04 AM by CNBC
    The surprising drop in new applications, to its lowest level in more than 41-1/2 years, suggesting job growth remained solid.
  • 9:03 AM » Don't Lose Faith, Would-Be Home Buyers: It Will Get Better
    Published Thu, Jul 23 2015 9:03 AM by www.realtor.com
    The housing recovery is good news for the U.S. economy and homeowners, but would-be buyers may feel priced out. But fear not: Relief is on the way. The post Don’t Lose Faith, Would-Be Home Buyers: It Will Get Better appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 9:02 AM » PulteGroup profit beats, but revenue falls short
    Published Thu, Jul 23 2015 9:02 AM by Market Watch
    Home builder PulteGroup Inc. said its second-quarter profit rose, as order growth and a gain stemming from a legal settlement offset soft closings. Adjusted per-share earnings topped expectations, though revenue slipped and missed estimates. Climbing consumer confidence, low mortgage rates and low inventory have helped spur new-home sales over recent months.
  • 9:02 AM » U.S. Housing Data Really Strong: Caron
    Published Thu, Jul 23 2015 9:02 AM by Bloomberg
    Bloomberg U.S. Housing Data Really Strong: Caron - Bloomberg Business Bloomberg Morgan Stanley Investment Management Managing Director Jim Caron and ISI Senior Managing Director Donald Straszheim discuss U.S. housing and Fed policy. They speak on "Bloomberg Surveillance." (Source: Bloomberg) ...
  • 12:09 AM » CNBC Exclusive Interview with Blackstone's Jonathan Gray
    Published Thu, Jul 23 2015 12:09 AM by CNBC
    CNBC Exclusive: CNBC's David Faber Interviews Blackstone's Jonathan Gray from CNBC Institutional Investor Delivering Alpha Conference
  • Wed, Jul 22 2015
  • 11:15 PM » Brace yourself for earnings Thursday
    Published Wed, Jul 22 2015 11:15 PM by CNBC
    Amazon.com, McDonald's and GM are among the 50 companies reporting Thursday, making it the busiest day of the earnings season.
  • 11:14 PM » Greek PM wins parliament backing for bailout reforms package
    Published Wed, Jul 22 2015 11:14 PM by Reuters
    ATHENS (Reuters) - Greek Prime Minister Alexis Tsipras faced down a revolt by rebels in his leftists Syriza party to win parliament's backing on Thursday for a second package of reforms required to start talks on a financial rescue deal.
  • 11:14 PM » Thursday: Unemployment Claims
    Published Wed, Jul 22 2015 11:14 PM by Calculated Risk Blog
    Thursday: • At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for claims to decrease to 279 thousand from 281 thousand. • Also at 8:30 AM, the Chicago Fed National Activity Index for June. This is a composite index of other data. • At 11:00 AM, the Kansas City Fed manufacturing survey for July.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 4:32 PM » A Few Random Comments on June Existing Home Sales
    Published Wed, Jul 22 2015 4:32 PM by Calculated Risk Blog
    First, as always, new home sales are more important for jobs and the economy than existing home sales . Since existing sales are existing stock, the only direct contribution to GDP is the broker's commission. There is usually some additional spending with an existing home purchase - new furniture, etc - but overall the economic impact is small compared to a new home sale. Also I wouldn't be surprised if the seasonally adjusted pace for existing home sales slows over the next several months - due to limited inventory and higher mortgage rates. Second, in general I'd ignore the median sales price because it is impacted by the mix of homes sold (more useful are the repeat sales indexes like Case-Shiller or CoreLogic). The NAR reported the median sales price was $236,400 in June, above the median peak of $230,400 in July 2006. That is 9 years ago, so in real terms, median prices are close to 20% below the previous peak.  Not close. Third, Inventory is still very low (up only 0.4% year-over-year in June). More inventory would probably mean smaller price increases and slightly higher sales, and less inventory means lower sales and somewhat larger price increases. This will be important to watch. Note: I'm hearing reports of rising inventory in some mid-to-higher priced areas.  However many low priced areas still have little inventory. Also, the NAR reported total sales were up 9.6% from June 2014, however normal equity sales were up even more, and distressed sales down sharply.  From the NAR (from a survey that is far from perfect): Distressed sales - foreclosures and short sales - fell to 8 percent in June (matching an August 2014 low) from 10 percent in May, and are below the 11 percent share a year ago. Six percent of June sales were foreclosures and 2 percent were short sales. Last year in June the NAR reported that 11% of sales were distressed sales. A rough estimate: Sales in June 2014 were reported at 5.01 million...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 4:32 PM » Intel Plans Bond Sale to Fund $16.7 Billion Altera Takeover
    Published Wed, Jul 22 2015 4:32 PM by Bloomberg
    Intel Plans Bond Sale to Fund $16.7 Billion Altera Takeover Bloomberg Intel Corp. is selling bonds for the first time since 2012 to back part of its $16.7 billion takeover of Altera Corp. The world's biggest chipmaker may issue the securities in as many as four parts, according to a person with knowledge of the matter ... and more »
  • 2:15 PM » Fannie Mae Releases Enhanced Single-Family Loan Performance Dataset
    Published Wed, Jul 22 2015 2:15 PM by Fannie Mae
    Information will prepare market for actual loss credit risk sharing transactions later in 2015.
  • 2:15 PM » Mortgage bankers predict $71B more in volume for '15
    Published Wed, Jul 22 2015 2:15 PM by CNBC
    Loan volume is now expected to rise to $801 billion in 2015, an upward revision from the $730 billion bankers had forecast.
  • 12:46 PM » AIA: Architecture Billings Index increased in June, "Multi-family housing design showing signs of slowing"
    Published Wed, Jul 22 2015 12:46 PM by Calculated Risk Blog
    Note: This index is a leading indicator primarily for new Commercial Real Estate (CRE) investment. From the AIA: Institutional Project Demand Drives Architecture Billings Index to Highest Mark Since 2007 Paced by continued demand for projects such as new education and healthcare facilities, public safety and government buildings, the Architecture Billings Index (ABI) increased in June following fluctuations earlier this year. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lead time between architecture billings and construction spending. T he American Institute of Architects (AIA) reported the June ABI score was 55.7 , up substantially from a mark of 51.9 in May. This score reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 63.4, up from a reading of 61.5 the previous month. "The June numbers are likely showing some catch-up from slow growth earlier this year. This is the first month in 2015 that all regions are reporting positive business conditions and aside from the multi-family housing sector, all design project categories appear to be in good shape," said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. " The demand for new apartments and condominiums may have crested with index scores going down each month this year and reaching the lowest point since 2011 ." ... Sector index breakdown: institutional (59.1), mixed practice (54.7), commercial / industrial (51.6) multi-family residential (47.0) emphasis added Click on graph for larger image. This graph shows the Architecture Billings Index since 1996. The index was at 55.7 in June, up from 51.9 in May. Anything above 50 indicates expansion in demand for architects' services. Note: This includes commercial and industrial facilities like hotels and office buildings, multi-family residential, as well as schools, hospitals and other institutions.  ...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 10:15 AM » Existing Home Sales in June: 5.49 million SAAR, Highest Pace in Eight Years
    Published Wed, Jul 22 2015 10:15 AM by Calculated Risk Blog
    The NAR reports: Existing-Home Sales Rise in June as Home Prices Surpass July 2006 Peak Existing-home sales increased in June to their highest pace in over eight years, while the cumulative effect of rising demand and limited supply helped push the national median sales price to an all-time high, according to the National Association of Realtors®. ... Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 3.2 percent to a seasonally adjusted annual rate of 5.49 million in June from a downwardly revised 5.32 million in May. Sales are now at their highest pace since February 2007 (5.79 million), have increased year-over-year for nine consecutive months and are 9.6 percent above a year ago (5.01 million). ... Total housing inventory at the end of June inched 0.9 percent to 2.30 million existing homes available for sale, and is 0.4 percent higher than a year ago (2.29 million). Unsold inventory is at a 5.0-month supply at the current sales pace, down from 5.1 months in May. Click on graph for larger image. This graph shows existing home sales, on a Seasonally Adjusted Annual Rate (SAAR) basis since 1993. Sales in June (5.49 million SAAR) were 3.2% higher than last month, and were 9.6% above the June 2014 rate. The second graph shows nationwide inventory for existing homes. According to the NAR, inventory increased to 2.30 million in June from 2.28 million in May.   Headline inventory is not seasonally adjusted, and inventory usually decreases to the seasonal lows in December and January, and peaks in mid-to-late summer. The third graph shows the year-over-year (YoY) change in reported existing home inventory and months-of-supply. Since inventory is not seasonally adjusted, it really helps to look at the YoY change. Note: Months-of-supply is based on the seasonally adjusted sales and not seasonally adjusted inventory. Inventory increased 0...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:00 AM » Condos Left Behind in Housing Rebound
    Published Wed, Jul 22 2015 9:00 AM by www.realtor.com
    Construction of single-family homes and multifamily rentals is rebounding-but not condos. Tough new rules on condo mortgages are among the reasons. The post Condos Left Behind in Housing Rebound appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 8:53 AM » Freddie Mac July 2015 U.S. Housing Market Insight & Outlook
    Published Wed, Jul 22 2015 8:53 AM by freddiemac.mwnewsroom.com
    Freddie Mac July 2015 U.S. Housing Market Insight & Outlook
    Click Here to Read the Full Article

    Source: freddiemac.mwnewsroom.com
  • 12:46 AM » Yellen's Gradual Policy Path Backed by Slumping Inflation View
    Published Wed, Jul 22 2015 12:46 AM by Bloomberg
    Yellen's Gradual Policy Path Backed by Slumping Inflation View - Bloomberg ... Bloomberg Janet Yellen's emphasis on a gradual path to higher U.S. interest rates is getting support from a slump in investors' inflation expectations. The 10-year break-even rate, derived from the difference between nominal and index-linked bonds, fell to 1.83 ...
  • 12:45 AM » Wednesday: Existing Home Sales, Architecture Billings Index
    Published Wed, Jul 22 2015 12:45 AM by Calculated Risk Blog
    Wednesday: • At 7:00 AM ET, the Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index . • At 9:00 AM, FHFA House Price Index for May 2015. This was originally a GSE only repeat sales, however there is also an expanded index. The consensus is for a 0.4% month-to-month increase for this index. • At 10:00 AM, Existing Home Sales for June from the National Association of Realtors (NAR). The consensus is for sales of 5.40 million on seasonally adjusted annual rate (SAAR) basis. Sales in May were at a 5.35 million SAAR. Economist Tom Lawler estimates the NAR will report sales of 5.45 million SAAR. • During the day: the AIA's Architecture Billings Index for June (a leading indicator for commercial real estate).
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Tue, Jul 21 2015
  • 4:50 PM » Citi ordered to pay $770 million over credit card practices
    Published Tue, Jul 21 2015 4:50 PM by Reuters
    (Reuters) - Citigroup Inc's consumer bank has been ordered to pay $700 million in relief to borrowers for illegal credit card practices, the U.S. Consumer Financial Protection Bureau said.
  • 4:48 PM » Fannie Mae Issues $14.5 Billion of Multifamily MBS
    Published Tue, Jul 21 2015 4:48 PM by Fannie Mae
    Fannie Mae announced today that the company issued $14.5 billion1 of multifamily MBS in the second quarter of 2015, primarily through its Delegated ...
  • 3:19 PM » Dodd-Frank Act Leaves America Less Stable, Less Prosperous, Less Free
    Published Tue, Jul 21 2015 3:19 PM by House Financial Services
    WASHINGTON - House Financial Services Committee Chairman Jeb Hensarling (R-TX) will deliver remarks today at the American Enterprise Institute on the fifth anniversary of the Dodd-Frank Act becoming law.  The following is the embargoed text of his speech as prepared for delivery: Thank you, Peter [Wallison], for your kind words. You know, there are those on the left who have abandoned all pretense to truth. For them, story-telling has replaced truth-telling. Not Peter. His work on the real causes of the financial meltdown of 2008 is a paradigm of scholarship "speaking truth to power." We need more solid research like that if this nation is to follow the right path to prosperity and freedom in the future. I am sorry Arthur Brooks could not be with us today. I love the title of Arthur's new book, The Conservative Heart. It is intentionally ironic.  After all, conventional wisdom is that conservatives have no heart and liberals have no brain. There is very little then Arthur can do about the liberals, but he has set out to change this misperception of conservatives and create-or restore-a conservative language that speaks to the heart and not just the head. The Founders of America were deeply conservative, yet they spoke a powerful language of personal worth and happiness. They sparked a revolution of equal rights and liberty under law that is still transforming the world.  Conservatism lays down the foundations for meaningful work, family, community, and faith-the institutions that make it possible for every human being to pursue the God-given right to happiness. This is Arthur's eleventh book. He writes them much faster than I can read them! But I look forward to learning from his latest as I have from the others. Thank you for inviting me to speak here at American Enterprise Institute. Ladies and gentlemen: something is changing in America. The "animal spirits" of free enterprise, entrepreneurial risk-taking and...
    Click Here to Read the Full Article

    Source: House Financial Services
  • 2:12 PM » This Is What Raising the Minimum Wage Did to Jobs in 11 States
    Published Tue, Jul 21 2015 2:12 PM by Bloomberg
    This Is What Raising the Minimum Wage Did to Jobs in 11 States - Bloomberg ... Bloomberg In economic circles, the minimum wage causes maximum debate. New data suggest that's unlikely to change anytime soon. Of 11 states that increased the minimum wage at the beginning of 2015 through either legislation or ballot initiatives, payroll gains ...
  • 1:05 PM » Mapped: The oldest and youngest states in America
    Published Tue, Jul 21 2015 1:05 PM by Washington Post
    A few generations ago, most people lived out their lives in the places where they were born. Today, Americans are used to moving, often due to the pull of economic opportunity. Teenagers move across the country to go to college, 20- and 30-somethings flock to cities for jobs, and white-haired "snow birds" head to Florida or Arizona to escape the winter.Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 1:05 PM » Will the dollar foil the Fed's plans?
    Published Tue, Jul 21 2015 1:05 PM by CNBC
    The Fed is signaling that a rate hike could be coming soon. But will the dollar put a glitch in the plan?
  • 1:03 PM » DOT: Vehicle Miles Driven increased 2.7% year-over-year in May, Rolling 12 Months at All Time High
    Published Tue, Jul 21 2015 1:03 PM by Calculated Risk Blog
    People are driving more! The Department of Transportation (DOT) reported : Travel on all roads and streets changed by 2.7% (7.3 billion vehicle miles) for May 2015 as compared with May 2014. Travel for the month is estimated to be 275.1 billion vehicle miles. The seasonally adjusted vehicle miles traveled for May 2015 is 262.1 billion miles, a 3.4% (8.7 billion vehicle miles) increase over May 2014. It also represents a 0.2% change (0.6 billion vehicle miles) compared with April 2015. The following graph shows the rolling 12 month total vehicle miles driven to remove the seasonal factors. The rolling 12 month total is moving up, after moving sideways for several years. Click on graph for larger image. In the early '80s, miles driven (rolling 12 months) stayed below the previous peak for 39 months. Miles driven (rolling 12) had been below the previous peak for 85 months - an all time record - before reaching a new high for miles driven in January. The second graph shows the year-over-year change from the same month in the previous year.  In May 2015, gasoline averaged of $2.80 per gallon according to the EIA .  That was down significantly from May 2014 when prices averaged $3.75 per gallon. Gasoline prices aren't the only factor - demographics is also key. However, with lower gasoline prices, miles driven - on a rolling 12 month basis - is at a new high.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 1:03 PM » Greece: Next steps before it can get bailout
    Published Tue, Jul 21 2015 1:03 PM by CNN
    There are many hoops that Greece has to pass through before it can actually get its bailout.
  • 11:31 AM » Controversial Op-Ed in NYT on Fannie and Freddie
    Published Tue, Jul 21 2015 11:31 AM by www.nytimes.com
    FTER the financial crisis of 2008, there was one thing that almost everyone agreed on. The government-sponsored mortgage giants, Fannie Mae and Freddie Mac, had to go. While shareholders and executives reaped the profits from Fannie and Freddie in good times, taxpayers were stuck with the bill in a crisis. President Obama described their dysfunctional business model as "Heads we win, tails you lose." But here we are, seven years after the crisis, and nothing has changed.
    Click Here to Read the Full Article

    Source: www.nytimes.com
  • 9:15 AM » America's most affordable—and least affordable—beach towns
    Published Tue, Jul 21 2015 9:15 AM by www.realtor.com
    We've identified the top beach towns in the U.S. where you can still afford to buy a home-for now. Also, take a look at the least affordable beach towns, just for fun. The post America’s most affordable-and least affordable-beach towns appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 8:54 AM » How to navigate the tightest housing market in years
    Published Tue, Jul 21 2015 8:54 AM by Washington Post
    Emboldened by low interest rates, rising rent prices and a stronger sense of job security, more people are making the leap into home ownership. But as they do, many face fierce competition, limited choices and the pressure to act quickly.Read full article >>
    Click Here to Read the Full Article

    Source: Washington Post
  • 8:49 AM » Fed takes tough stance on bond liquidity, downplays market fears
    Published Tue, Jul 21 2015 8:49 AM by Reuters
    NEW YORK/WASHINGTON (Reuters) - While Wall Street frets over the ability of bond markets to absorb an approaching interest rate rise, the U.S. Federal Reserve has a message for the industry: deal with it.
  • 8:48 AM » ECB Gets Cash, and Lessons, from Defunct Bond Plan
    Published Tue, Jul 21 2015 8:48 AM by WSJ
    The Wall Street Journal's Daily Report on Global Central Banks for Tuesday, July 21, 2015. Brian Blackstone considers the lessons for the ECB and other central banks from the failure of a bond-buying program.
  • 8:48 AM » Fed on bonds: What liquidity issue?
    Published Tue, Jul 21 2015 8:48 AM by CNBC
    While Wall Street frets over the ability of bond markets to absorb a rate rise, the Federal Reserve has a message for the industry: deal with it.
  • 12:15 AM » WSJ: "Bidding Wars Return to Home Market"
    Published Tue, Jul 21 2015 12:15 AM by Calculated Risk Blog
    From Kris Hudson at the WSJ: Bidding Wars Return to Home Market Bidding wars, a hallmark of last decade's housing boom, are making a comeback in a number of metro areas across the U.S. But while the earlier wars reflected enthusiasm fueled by easy-money mortgages, the current froth stems from a market short of homes for sale. The reasons for the scant supply are myriad, including a much-slower-than-expected recovery in home construction. Yet an equally significant problem is that millions of people aren't listing their homes for sale because they suspect they can't qualify for a new mortgage, can't afford the costs associated with a sale or fear that they won't prevail in the scrum for the few houses available. At the end of May, there were 2.3 million existing U.S. homes for sale, enough supply to last 5.1 months at the current sales pace. That is below the six to seven months of supply that the National Association of Realtors says is needed for a balanced market. But in more than one-third of the 300 largest metropolitan areas tracked by Realtor.com, homes listed for sale in June had been on the market for a median of less than two months. A low median figure indicates rapid turnover in inventory as demand for homes exceeds supply. There are number of reasons inventory is still low, even with higher prices. People shouldn't overlook the obvious impact of investor buying on inventory. Three years ago I wrote : One key is the substantial increase in investor owned single family homes. These are not "flippers", but cash flow investors - and these investors will not sell just because prices have risen a few percent (I've talked with some of these investors, and they many are making 8% to 12% cash-on-cash after expenses - and they have no intention of selling in the near term). Economist Tom Lawler discussed this back in February, and concluded that a significant "share of the decline in the share of homes for sale reflects the...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Mon, Jul 20 2015
  • 11:53 PM » Subprime Auto-Loan Titan Defends Longer Terms as New Normal
    Published Mon, Jul 20 2015 11:53 PM by Bloomberg
    Subprime Auto-Loan Titan Defends Longer Terms as New Normal - Bloomberg Business Bloomberg The man who created one of the biggest U.S. subprime lenders says there's nothing dangerous about borrowers being given longer car loans. When Thomas Dundon helped start the lender that's become Santander Consumer USA Holdings Inc. in the 1990s, ... and more »
  • 4:24 PM » A comment on Interest Only Mortgage Loans
    Published Mon, Jul 20 2015 4:24 PM by Calculated Risk Blog
    Some people incorrectly blame "subprime" for the financial crisis. Others blame interest only loans. Neither are toxic if underwritten correctly. From Diana Olick at CNBC: Interest-only mortgages: They're baaack They were the villains of the housing crash. Federal regulators called them toxic. Now interest-only mortgages are making a comeback, but these are not the loans of yesteryear or yester-housing booms. "I think it's opening the door back to responsible lending, giving people choices," said Mat Ishbia, president and CEO of Michigan-based United Wholesale Mortgage, the second-largest lender through brokers in the nation. The company announced Monday it is now offering interest-only loans through brokers, with significant safeguards. Borrowers must put 20 percent down, ensuring that they have the "skin in the game" that so many did not during the heady days of the housing boom. They must have at least a 720 FICO credit score, which is well above average, and they must qualify on what the payments will be once they're adjusted higher, not at the starter rate. There were several problems with mortgage lending in the mid-2000s. There was widespread use of subprime and Alt-A loans with risk layering. Risk layering might have included qualifying at a teaser rate, 100%+ loan-to-value financing, negative amortizing loans, interest only, and/or, self-underwritten loans - so-called stated income loans. A subprime or interest only loan, underwritten properly, is a reasonable mortgage product (such as described in the article).  However if the lender starts layering risk, then the product could be dangerous. If you want to understand Subprime and Alt-A, here are two great posts from my former co-blogger Tanta: What Is "Subprime"? Reflections on Alt-A
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.97%
  • |
  • 15 Yr FRM 3.20%
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  • Jumbo 30 Year Fixed 3.75%
MBS Prices:
  • 30YR FNMA 4.5 108-16 (0-07)
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  • 30YR FNMA 5.0 110-19 (0-01)
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  • 30YR FNMA 5.5 112-09 (0-00)
Recent Housing Data:
  • Mortgage Apps 0.13%
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  • Refinance Index -0.55%
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  • Purchase Index 0.97%