Say Goodbye to the Specialized Mortgage Options

Long gone are the days of double digit appreciation in home values as money tightens among fears of rising foreclosures. Foreclosures that could have been stopped if the secondary market had not stopped funding loan pools that included sub-prime loans. Now people with 2 and 3 year sub-prime loans do not have an avenue to refinance out of their "specialty" loan and are stuck with a rising interest...

The current market turmoil was created by good old fashion greed.  However, it can not be fixed with over regulation, it can be fixed with common sense and a true willingness of both parties, the consumer and the lender to participate in the increased risk of lending that is now prevalant in the mortgage market.  The previous lending environment manifested as a result of rewarding many...

FAnnie Mae and Freddie Mac have announced new underwriting guideline changes to take effect with mortgage deliveris dated August 8, 2008.  Every bank needing to create liquid mortgage investments will have to adopt these new rules in the next few weeks.  The results on individual borrowers and by extension the economy will be both profound and negative as a whole.  For the industry...