Watching the minute by minute updates all day of the Dow movements, on Monday (8/24/15), was like taking my grandsons to the boardwalk last weekend to ride the amusements. At times, it was frightful, exciting, and, a little scary? In the end, it was all very tiring. When all was said and done, I had spent a great deal of…
With all the talk lately about whether the housing market is improving or not comes a new study from BMO Harris Bank reporting that over 50% of Americans say they will buy a home within the next 5 years (More Buyers). I wonder if this study includes illegal aliens, or should I say undocumented visitors. I digress… This comes as…
Just in case you missed it, I thought you might be interested in this article about Facebook’s foray into the mortgage market (Facebook). You might find this amusing, but I find it a little scary. It’s not bad enough that social media has found its way into just about every segment of our lives. Now, Facebook wants to use the…
Under Dodd-Frank, the CFPB is required to conduct a study of the mortgage arbitration process and its effects on consumers. Interestingly, a study of the CFPB report on arbitration done by the Mercatus Center at Georgia University found the CFPB’s own findings do not support the need for them to meddle in the current arbitration process (Arbitration). Once more it…
Do you know Helen Kanovsky? Hopefully not, because if you do, it may be that you ran afoul of HUD rules somewhere along the way. Here’s a recent quote from Attorney Kanovsky, “FHA-approved lenders are obligated to apply our underwriting standards, not only to protect our insurance fund but to make certain families can sustain their mortgages. Lenders who engage in…
I’m getting a little confused about home sales, home buyers, the economic recovery and how all this affects the mortgage market. A couple of weeks ago, I was hearing a rosier outlook for home sales from MBA. In fact, they increased their 2016 mortgage originations projection for 2016 to $885 billion, an increase of about $94 billion. This was on…
