The Los Angeles Times article "After subprime collapse, nonbank lenders again dominate riskier mortgages" is misleading. The spin is non-bank lenders are originating more risky loans than banks. The real story is the US Gov't is insuring and requesting lenders to originate FHA and VA loans, which ... » Learn More about LA Times Article on New Risky Mortgage Origination by Non-Banks Misleading
California Real Estate Market at a Glance
The California real estate market stayed stable through October. The quantity of sales, and the median home prices dropped slightly, but that's not untypical for this time of year. The mortgage rates went up slightly over the past few weeks, and may effect the affordability index next month. If you ... » Learn More about California Real Estate Market at a Glance
Real Estate and Finance Tidbits 112015
A few recent items of interest, that probably won't hit the general media, or may not hit for a while... Bill Passes House to Expand Mortgage Availability By a vote of 255-174, the House approved the “Portfolio Lending and Mortgage Access Act,” which would broaden the definition of qualified ... » Learn More about Real Estate and Finance Tidbits 112015
Home Equity – Timing’s Everything
According to the latest National Association of Realtors statistics, there's been substantial equity earned by home owners, except by buyers that purchased during the peak of the real estate bubble 8-10 years ago. That said, they're looking substantially better than they did a couple years ago. ... » Learn More about Home Equity – Timing’s Everything
Congress Passes Mortgage Act to Make it Easier to Get a Mortgage, But Don’t Count On It
By a vote of 255-174, the House approved the “Portfolio Lending and Mortgage Access Act,” which would broaden the definition of qualified mortgages – those that qualify for the safe harbor – to include all mortgages held on a lender's balance sheet. The new QM rule would recognize all residential ... » Learn More about Congress Passes Mortgage Act to Make it Easier to Get a Mortgage, But Don’t Count On It