RSS

Tag Archives: Loan

Real Estate News 8-7-2012


Are you on Facebook?  We’re having a little Facebook competition based on number of LIKES on our office Facebook page.  Please take a minute and LIKE our Facebook page to tell the world how amazing you think Stewart Title of Spokane is!
Like1

Today’s news that may be of interest to you:

Housing Market Shows Improvement Across All Regions
The Hill | August 6, 2012
Dozens of the nation’s largest housing markets continue to show improvement, according to an index released on Monday.

Housing Recovery Could Lift Jobs, Spending
CNN Money | August
After years of depressed activity, home prices and new construction have started to pick up in recent months as foreclosures have slowed, suggesting the housing market may have finally bounced off the bottom.

Is This the End of the Housing Bust? Not So Fast, Says Shiller
The Wall Street Journal | August 6, 2012
Housing expert Robert Shiller isn’t convinced we’ve crossed into safe territory just yet. Here’s why.

23 Federal Laws that Apply to Real Estate Sales
Realtor Mag | August 2012
Residential real estate has become more complex over the years as a result of laws enacted to protect consumers’ welfare.

Hispanics Make Up Majority of New Owner Households
HousingWire | August 5, 2012
In spite of high unemployment, economic uncertainty and tighter credit conditions, homeownership among Hispanics continues to act as a stimulant to the country’s anemic household formation rate.

Chase Offers No Doc Refis, Principal Reduction
HousingWire | August 5, 2012
JPMorgan Chase went from fast-tracking foreclosures to rubber stamping and pre-approving some borrowers for refinances and even principal reduction.

Court of Appeals Upholds Dismissal in MERS Case
DSNews | August 5, 2012
MERSCORP Holdings, Inc., announced that a three-judge panel of the United States Court of Appeals for the Ninth Circuit affirmed the dismissal of a complaint against Mortgage Electronic Registration Systems, Inc., (MERS) and two other defendants.

Banks Ease Lending Terms to Meet Mortgage Demand
TheMReport | August 6, 2012
Commercial banks eased standards for residential mortgage loans to meet a sharp increase in demand in the second quarter, the Federal Reserve reported Monday in its quarterly survey of bank lending standards.

Advertisements
 
Leave a comment

Posted by on August 7, 2012 in Real Estate news

 

Tags: , , , , , , ,

Real Estate News Today 7-31-2012


Among the Stewart Title offices across the nation, we’re having a little Facebook competition based on number of LIKES on our office Facebook page.  Please take a minute and LIKE our Facebook page to tell the world how amazing you think Stewart Title of Spokane is!
Like1

The Difference Between Excellent and Perfect
The KCM Blog | July 31, 2012
Why does a buyer or seller look for a real estate professional in today’s new market reality? There’s plenty of information readily available for them to look at and analyze as they’re going through the process.

MBA: Multifamily/commercial mortgage originations swell 25% in 2Q
HousingWire | July 31, 2012
Multifamily mortgage originations helped commercial/multifamily origination volumes grow 25% in the second quarter from the year-ago period, according to the Mortgage Bankers Association’s quarterly survey.

Subprime Auto ABS Grows As Lenders Chase Margins: Credit Markets
Bloomberg | July 30, 2012
Sales of bonds tied to payments on subprime car loans are accelerating at the fastest pace in five years as investors seek high yields amid speculation the Federal Reserve will keep interest rates at record lows until mid-2015.

U.S. Housing Recovery Tested as Economy Tempers Optimism
Bloomberg | July 30, 2012
While orders for new homes are rising at the fastest rate in two years and housing may be a net contributor to the economy’s expansion for the first time since 2005, slowing job growth, tight inventories and a backlog of foreclosures threaten to put the brakes on a comeback.

How Forgiveness Fits in Housing-Fix Toolkit
The Wall Street Journal | July 30, 2012
Policy makers are wrestling with a dilemma about the overhang of mortgage debt from the housing bust: to forgive or not to forgive?

Some at Fed Are Urging Pre-Emptive Stimulus
The New York Times | July 30, 2012
On the eve of the Fed’s policy-making committee meeting, members who favor more stimulus argued that the likely path of the economy was enough reason for action.

Congressional Leaders Near Budget Deal to Keep Government Running
The Washington Post | July 30, 2012
Temporary spending agreement would keep it running for the first half of the next fiscal year.

Is Housing Recovery Real? Not Everyone Is Convinced
NPR | July 31, 2012
Housing, the sector that led us into the recession, now looks to be one of the brighter spots in the economy. Homebuilding is at its highest level in nearly four years. More homes are selling, and at higher prices.

Yesterday we had an article about a company that is customizing the term of their homes loan to fit the clients desires.  We had two responses that I wanted to share from loan officers:

From CL: I do this all the time….I give them an excel sheet that lets the customer design their own.  They can change the principal monthly amount and see how much sooner than can pay off their mortgage based on their own timeline and needs.  VERY effective and also shows them sometimes the cost is not worth the expense of a refi unless they want rate bragging rights!!

From DB: It is currently is available!!!
1.       Borrowers on home loans do not have prepayment penalties today on the vast majority of loans.
2.       Borrowers can make additional Principal payments any time therefore,  reducing the loan balance, therefore retiring the loan at any point in time they desire. 
You just made you designer loan.
3.       We currently offer, 10, 15 20, 25, 30 and 40 year loans, with no prepayment penalties, the ability to pay extra every month, every other month, once a year,  etc….
4.       We offer the borrowers various amortization schedules so they can set the payoff date—VERY few ever follow through, they drop back to the easiest payment so they can do whatever with the “extra” cash.

 Anthony Carollo 2007 EMAIL  

Join My List

Find me on:     LinkedIn     Twitter     Facebook

Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA 99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
acarollo@stewart.com

Please remember to choose Stewart Title of Spokane on your next transaction!

www.StewartSpokane.com

 

Tags: , , , , , , ,

Real Estate News Today 7-20-2012


Check out and LIKE us on Facebook to follow other industry news!  Facebook

Fore Sale: The Golf Housing Bust
The Wall Street Journal | July 19, 2012
Prices at luxury private golf communities are crashing, done in by rampant overdevelopment, the economic downturn and waning national interest in the sport. Golf courses are being shrunk and some home lots are being sold for $1.

U.S. Banks Haunted by Mortgage Demons That Won’t Go Away
Reuters | July 19, 2012
Lenders like Bank of America Corp and Wells Fargo & Co say they are facing mounting pressure to buy back bad mortgages they sold to investors, signaling that banks’ home-loan headaches could continue for years.

Behind the Numbers: Home Sales Fall, Led By Cheapest Homes
The Wall Street Journal | July 19, 2012
Most of the housing news lately has been positive, so Thursday’s news of a 5.4% drop in June’s existing home sales was a bit of a surprise.

Zuckerberg is Not the Only One Who Can Get Super Low Mortgage Rates
CNBC | July 19, 2012
After seeing Mark Zuckerberg has scored a 1.05 percent mortgage rate on his $6 million California home, we have just two questions: Why does he need a mortgage? And where can I get one like that? (I would LOVE to hear a mortgage loan officer’s thoughts on this one. ~Anthony)

Are the Real Estate Bellwethers Finally Ringing? Check out the Numbers
Forbes | July 19, 2012
In case you’re still a nonbeliever that housing has finally crawled its way into recovery mode, ask yourself: What are the bellwether indicators of the early stages of a rebound? You can probably rattle them off.

U.S. Housing Poised to Boost Economy
Reuters | July 20, 2012
The U.S. housing sector is poised to boost economic growth. While existing home sales fell 5.4 percent in June from May, other indicators suggest a recovery is under way. A flip to a positive impact after dragging on GDP for five years will give lawmakers a chance to change distorting housing market policies.

Personal Information, Password Theft on the Rise
RealtorMag | July 19, 2012
Hacked personal information online, including stolen passwords, has soared 300 percent during the first four months of 2012, according to a study by Experian CreditExpert and Opinion Matters. 

Short sales more rewarding than REO: RealtyTrac
HousingWire | July 20 2012
The market is trending towards short sales as lenders lean more heavily on disposition methods that aid distressed homeowners while making it easier for lenders to resell homes that have spent less time in a state of distress, RealtyTrac vice president Daren Blomquist told HousingWire Thursday.
 

Anthony Carollo 2007 EMAIL  

Join My List

Find me on:     LinkedIn     Twitter     Facebook

Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA 99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
acarollo@stewart.com

Please remember to choose Stewart Title of Spokane on your next transaction!

www.StewartSpokane.com

 

Tags: , , , , , , ,

Real Estate News Today 7-18-2012


Check out and LIKE us on Facebook to follow other industry news!  Facebook

A borrowers guide to the mortgage application
MSN | July 2012
A mortgage application’s purpose is to help the lender decide whether to lend money to the borrower. But the industry-standard Uniform Residential Loan Application, also known as Fannie Mae Form No. 1003, is more complicated than that straightforward intent might suggest.  (This author provides a good overview of the 1003 loan application.  The comments below the article are pretty good too, some good thoughts and a few chucklers. ~Anthony)

U.S. Economic Fears Shift Back Home
The Washington Post | July 17, 2012
For much of the year, economists worried about the impact of the European slowdown on the U.S. Now, analysts say the fast-approaching “fiscal cliff” poses the biggest threat.

The Economy Stinks, But Housing Keeps Picking Up
The Wall Street Journal | July 17, 2012
As the broad economy continues to struggle, the housing market — one of the most beleaguered pockets of the economy for years — continues to exhibit signs that the worst is in the past.

How to Hunt for Talent on Social Media
The Washington Post | July 16, 2012
Many employers now use the sites to vet applicants. But they can also be used to actively seek out promising candidates.

Treasuries Rise Before Bernanke on Slower Growth Bets
Bloomberg | July 18, 2012
Treasuries rose, pushing 10-year yields toward a record low, before Federal Reserve Chairman Ben S. Bernanke starts his second day of testimony to Congress amid speculation the U.S. economic recovery is faltering.

Fighting back against lowball home appraisals
MSN | July 2012
Record-low interest rates are a boon for homebuyers and homeowners seeking to refinance. But low appraisals are making it difficult or even impossible for some borrowers to take advantage.  (The author provides what seems like some good information but I wonder: Is it realistic? ~Anthony)

Ten Apps Every Homebuyer Should Have
Fox Business | July 18, 2012
When it comes to staying organize and efficient during the home-buying process your best tool might already be in your pocket: your smartphone. Whether you are buying a house, getting a mortgage or doing some remodeling, here are 10 must-have real estate apps.

Homeownership: The American Dream
The KCM Blog | July 18, 2012
As a real estate professional, it’s important to understand, and remind yourself, that homeownership really is the American Dream and your job is be the guardian and guide to make that dream a reality. This is especially important in a market where some people may be misinformed about the benefits and possibilities of buying a home.  (I’ll say it again, the folks at KCM write a wonderful blog.  If you’re in the real estate industry, this one is worth reading. ~Anthony)

Anthony Carollo 2007 EMAIL  

Join My List

Find me on:     LinkedIn     Twitter     Facebook

Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA 99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
acarollo@stewart.com

Please remember to choose Stewart Title of Spokane on your next transaction!

www.StewartSpokane.com

 

Tags: , , , , , , ,

Real Estate News Today 1-12-2012


Today’s news that may be of interest to you:

Poll: Don’t Tread on My Mortgage-Interest Deduction
The Wall Street Journal | January 11, 2012
The National Association of Home Builders has a message for political candidates: Americans don’t want anyone messing with the popular mortgage-interest tax deduction.

Fed Says Economy Expanding, Housing Market Still Dead
Forbes | January 11, 2012
latest Fed Beige Book shows. Covering the month of December, all twelve Fed districts noted some level of expansion in activity, as the economy rode the holiday wave and increased consumption trends vis-à-vis 2010.

Fed: Final Weeks of 2011 Were Among the Best of the Year for U.S. Economy
The Washington Post | January 11, 2012
Consumers spent more, factories made more goods, Americans stepped up travel and the auto industry excelled.

The CFPB Just Rolled Out A Road Map For How It Will Police Mortgage Lenders
Business Insider | January 12, 2012
Just days after Richard Cordray slipped into the director’s chair, the agency said it was ready to start cracking down on those much-maligned nonbank mortgage lenders. Now we know exactly how they plan to do that.

Home Price Declines Consistent Across The Country
DSNews | January 11, 2012
Marking the fifth consecutive month of decline, home prices fell 0.8 percent in October, matching levels last seen in 2002, according to Lender Processing Services’ (LPS) Home Price Index released Wednesday. As of October, the national home price average was $200,000.

Gen-Y Demographic Could Quickly Vacate Apartments for Homeownership
Multifamily Executive | January 10, 2012
Take it while you can get it, say single-family housing experts, who expect Gen Y to cycle out of the rental market as wage growth stabilizes and mortgage lending loosens against a backdrop of expected rent increases.

Bank profit reports could be lifted by business loans
Reuters | January 12, 2012
A recent rise in loans to businesses is spurring hope that U.S. bank earnings reports, which begin on Friday, will show the outlook for this economically critical industry is better than battered stock prices and weak investment banking volumes suggest.

When a homeowner becomes a landlord
The Washington Times | January 5, 2012
Homeowners in the D.C. area often find themselves assigned to offices in other parts of the world for a year or two at a time and need to rent their property to generate added income. Other homeowners are waiting for the economy to improve before putting their homes on the market and are becoming landlords in the meantime. Homeowners trying to avoid foreclosure also may choose to rent their property, cover the mortgage with the rental payment and move to a less expensive home while waiting for home values to rise and their finances to improve.  (While the reporter certainly focuses the content on the Washington D.C. market, the article does give a good overview of issues to consider when a homeowner is considering converting their real estate to a rental. ~Anthony)

Anthony Carollo 2007 EMAIL  

Join My List

Find me on:   LinkedIn     Facebook

Anthony V. Carollo / President
Stewart Title of Spokane
606 W. 3rd Ave.
Spokane, WA  99201
Telephone: 509.328.7171
Direct Line: 509.321.3939
Direct Fax: 866.652.8834
acarollo@stewart.com

Please remember to choose Stewart Title of Spokane on your next transaction!

www.StewartSpokane.com

 

Tags: , , , , , , ,

 
%d bloggers like this: