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on Fri Aug 28 2015, 4:11 PM
It is difficult to understand how more 60+ year households increases housing demand. They are already households and have high home ownership rates. They also have very low mobility rates. An age adjusted household formation analysis results in 1.2 million new households (housing demand) for the next 5 years, but then dropping to 900,000 after 2000.
on Fri Aug 28 2015, 9:05 AM
Note: CFPB was created to prosecute the consumer-facing components of Dodd-Frank. Mortgage lending is only a part of that. CFPB has absolutely no affect, or effect, on flow to securitization. Any slow downs in that area are attributable to regulatory and fraud compliance routines.
on Mon Aug 24 2015, 4:27 PM
@CompetitionBenefitsConsumers I never said anything about representation. I said, Congress only wants oversight so they can gut the powers of the CFPB and make it toothless... like the SEC. So where is that incorrect? Its an opinion.
Ted Rood
Senior Loan Officer , MB Financial Bank
on Mon Aug 24 2015, 1:02 PM
Can I send this article with all my appraisal orders to make sure the appraisers know about this remarkable value rebound? ;)
on Mon Aug 24 2015, 8:05 AM
Giving that idiot Cruz a word of publicity is the real travesty.
Ted Rood
Senior Loan Officer , MB Financial Bank
on Sun Aug 23 2015, 12:40 AM
I couldn't agree more with Congressman Ratcliffe. CFPB is a goliath capable of regulating any/all in its path out of existence, or at least profitability.
on Fri Aug 21 2015, 1:44 PM
"Perhaps most troubling is the fact that the CFPB is completely unaccountable to Congress and the American people," Actually, they are accountable to the American people. Just not Congress, which is why it was designed this way. When this agency was designed, they knew it would only have teeth if they did not have to rely on Congressional oversight... or rely on Congressional funding.
on Sat Aug 15 2015, 11:06 AM
Bank had to dismiss foreclosure complaint against me as I called them out on their forged, fraudulent note. BAM! Beat them to a pulp as they were, and are, liars. Now just paying insurance and taxes. Thank you big banks for your greed. It lead to broken chains of title! Fraud still the only way they can foreclose and folks know it...well some folks anyway. Again, greed by the big banks...priceless! No wonder Nationstar Mortgage insiders are selling as fast as they can!
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Tue Aug 11 2015, 6:54 PM
Thanks guys. Maybe I'll devote one day a week to incredulous sarcasm.
Frank Ceizyk
Producing Branch Manager, New American Funding
on Tue Aug 11 2015, 1:33 PM
This is awesome. Maybe he's just trying a different approach to his 'there is not housing bubble comment' back in June 2005. But then again--he gave himself an out back then: "Regulators who are required to forecast have had a woeful record of chronic failure. History tells us they cannot identify the timing of a crisis, or anticipate exactly where it will be located or how large the losses and spillovers will be." In short, he got it wrong because he -- and apparently everyone in his position -- isn't very good at seeing, timing or predicting economic bubbles. http://realestate.aol.com/blog/2010/06/11/greenspans-no-housing-bubble-prediction-five-years-later/
on Tue Aug 11 2015, 1:14 PM
Perfect!
Ben Mabile
Production Manager, AFI Mortgage Company
on Tue Aug 11 2015, 12:26 PM
Nice on Matt
akaagassi
Mortgage Loan Originator, US Bank
on Thu Aug 6 2015, 12:16 PM
They need to abolish the 75% LTV within 5 years. Not only do most consumers not know about that requirement, even people in the mortgage industry are not aware of most MI companies requirements for it. That in of itself will get rid of most of the confusion.
on Wed Aug 5 2015, 9:49 PM
Amen! !
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Wed Aug 5 2015, 8:41 PM
Completely unacceptable! How dare they! Oh wait... I work here. Gary, let me know which article you're referring to and I'd gladly take a look and explain it until your incredulity was successfully quelled.
on Wed Aug 5 2015, 8:58 AM
Hmmm - every day a new article that takes a different position. Not even a week ago MND ran a story that indicated research demonstrated student loan debt was no concern. Now this article lists it as one of the three-headed monsters that lenders fear? Which should we believe?
on Sun Aug 2 2015, 8:21 PM
I agree the market is struggling to pick up but my property taxes and the value amount for which the accessors office uses in calculating property taxes hasn’t a clue we experienced a collapse. So I too would like to know when non-goverment backed property owners will be entitled to relieve for overpriced purchases trying to hold on to these property’s that lets be honest will never reach the intended value for which property taxes are being calculated on.
on Thu Jul 30 2015, 11:39 AM
Thanks Chris for keeping a watch on the markets and relaying your information to the rest of us with your daily run down. I am back into loan origination and your website is the first thing I read every morning. Good job! Mark Hoye Mortgage Loan Officer America Trust Funding Rockville, MD
Frank Ceizyk
Producing Branch Manager, New American Funding
on Thu Jul 23 2015, 12:25 AM
Well, we're not too busy to join the MAA and contribute our voice of protest here: Please contact your Senators to make clear to them that homeownership cannot, and must not, be used as the nation’s piggybank. Please click HERE to go to the Mortgage Action Alliance (MAA) homepage and click on the “Take Action” button to get started. If you don't have, or have forgotten your username and password, click on "forgot password" to retrieve it. If you are not a MAA member, you will need to join MAA to take action. Please contact Annie Gawkowski at 202-557-2816 or agawkowski@mba.org if you need assistance. The MBA is a hop, skip and a jump away from Capitol Hill and is our biggest lobbying voice in DC...
Ted Rood
Senior Loan Officer , MB Financial Bank
on Wed Jul 22 2015, 4:28 PM
Well, the Gfees were already permanently raised to finance the temporary Social Security cuts, why not raise them for highways too? What a great idea, NOT.
John DeLeva
DeLeva Group
on Wed Jul 22 2015, 3:58 PM
Many of our elected officials at all level of government bet on the fact that their constituent's are not paying attention. I trust soundly that the American people will remain too busy or disinterested or both to notice...funny thing is, it is our city, state and federal government's that keep us busy....
on Mon Jul 20 2015, 1:13 PM
Tim- Not exactly apples to apples there, though...since NACA buyers are paying no MI, and I would imagine the bulk of them are buying down the rate substantially, too.
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Tue Jul 14 2015, 11:33 PM
If by "they," you mean "any borrower with poorer credit history, lower equity, and less of an ability to withstand financial stress," then I quite agree, as would the author of the study. He would likely then go on to point out that the fact that the "they" are also first time homebuyers has nothing to do with the increased risk. The author would readily agree (and did!) that the average first time home buyer is riskier because they tend to have more of these traits. The author's point is that an FTHB without those riskier traits isn't riskier simply because they are an FTHB. Therefore, we should adjust the cost of risk based on the factors that actually impact it.
on Tue Jul 14 2015, 3:19 PM
Thank you for posting this article and for taking advantage of the flexibility provided by Fannie Mae’s underwriting guidelines. I applaud the terrific service and value you provided to both of the families reflected in the case studies. Zach Oppenheimer Head of Customer Engagement Fannie Mae
S Reichert
Mortgage Banker, Black Hills Community Bank
on Tue Jul 14 2015, 11:43 AM
"First-time buyers are inherently different, with lower credit scores, income, and equity in their homes and are therefore less likely to withstand financial stress or take advantage of financial help in the marketplace than are repeat homebuyers." The ability to repay is only one layer of risk. Credit history, equity and ability to 'withstand financial stress' are other layers of risk. They are riskier.
Frank Ceizyk
Producing Branch Manager, New American Funding
on Fri Jul 10 2015, 4:13 PM
Also doesn't help when you have a regulatory agency that characterizes the home loan finance industry as one where consumers must be wary of "debt traps, surprises and runarounds"...that whole dialogue of distrust \that David Stevens keeps talking about...
 

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