Report by Harvard/Princeton economists says most U.S. employment growth from 2005 to 2015 is in alternative work arrangements.
PMI
Today's fundamentals: trade deficit, PMI Services
Private Mortgage Insurance Improving On the mortgage insurance front, PMI will be increasing its maximum LTV to 97% effective October 8. It is a good sign for many in the industry, and loans must have a minimum 720 credit score, be in non-distressed markets, owner-occupied, conforming, originated only through a retail channel, etc. And it
Nashville Flood Video On a serious note, and besides a decent Johnny Cash soundtrack, here is a video to spend 1 minute and 50 seconds watching, and not only see what Nashville is dealing with, but also what lenders in that area are dealing with. Senate Rejects GOP Dilution of Consumer Financial Protections In this
Reshuffling Of Fed Members Is the economy really in good enough shape for the Fed to start selling their $1.25 trillion of mortgage-backed securities? I don’t think so, but maybe the press doesn’t have enough else to talk about, so the Fed possibly lightning up on their balance sheet has been receiving some publicity. Federal
Will Private Mortgage Insurance Return As Alternative To FHA For Homebuyers With Less Than 20% Down?
Largest Mortgage Lenders & Investors Who were, and probably still are, the largest mortgage lenders/investors in 2009? There were no real surprises. Private Mortgage Insurance Making A Comeback? PMI gave its clients some good news by reducing the minimum FICO score from 720 to 700 for CA, AZ, NV, DE, HA, NJ, and FL and
Mortgage Rate/Lock Update A small boy swallowed some coins and was taken to a hospital. His grandmother telephoned to ask how he was, a nurse said, “No change yet.” We started off the week with both the stock and bond markets making a little change for investors: both improved. The folks on Wall Street, if
Seven More Banks Fail, 2009 Tally At 140 Wanna buy a bank? Now is a good time to give that someone special a little something special – like a failed bank. Seven U.S. banks were taken over on Friday, and the FDIC could not find buyers for three of them. It brings the total to
In a move that other states may take note of, in North Carolina, the N.C. Office of the Commissioner of Banks (NCCOB) is sending a message by announcing that it is proposing mortgage rules to help reduce foreclosures, to improve consumer protection and the functioning of the mortgage market, and to implement the S.A.F.E. Act.
A story in “Inside Mortgage Finance” from August 31st stated, “The Federal Housing Administration is not considering adopting the Home Valuation Code of Conduct appraisal system now in place at Fannie Mae and Freddie Mac. Coming from a recent meeting with FHA executives, top officials of the National Association of Mortgage Brokers said they were
If your stock portfolio is going up in value, do you save less? Probably. People generally feel wealthier when their stocks are rising, or their house is appreciating: they will spend more and save less. When the reverse happens, they spend less and save more, which is exactly what is happening now, or at least
Do mortgage originators consider the future when they are speaking with a client and processing the loan? Perhaps: certainly between 2002 and 2007 originators “appeared” willing to lend to anyone since values were increasing, and any problems might be covered up with appreciation. They weren’t necessarily forcing the borrower to borrow, and investors weren’t being
Mortgage Insurer PMI said that home prices in 30 of the 50 largest US metropolitan areas may fall through the first quarter of 2011. Below is an excerpt from PMI’s 2Q2009 Economic & Real Estate Trends Report. Click the link to read more. Also worth noting that private mortgage insurance companies have taken a beating
Obviously the Mortgage Banker’s conference hasn’t hit Disneyland quite yet. Good Economy Equals Bad Rates You just can’t make this stuff up! Eugenio J. Aleman, senior economist at Wells Fargo stated that “The Biggest Risk Today is an Economic Recovery”. Once again, anyone in the mortgage business wonders which evil they’d rather have: a stalled
According to WSJ, the city of Las Vegas wants to use two million dollars of the economic stimulus for new neon signs. City officials are concerned, since they don’t want to make the city look tacky. PIMCO Wants Lower Rates Is it any wonder that Bill Gross wants mortgage rates to come down? Pacific Investment
When I was a kid, boy bands wrote songs about girls, cars, and school. Well, I guess the times have changed. This one, from Isaac Hollingsworth, comes from the son of a principal in a mortgage-related recruiting firm. State of Mortgage Banking/Brokering Where are the investors going? How about, “Away”? A good-sized, relatively well capitalized
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