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Archive for the 'Real estate Financing' categoryWalk away from this ideaA Univerisity of Arizona professor is urging homeowners under water to pull a ‘walkaway’ on their mortgages, allowing foreclosures and hits to credit scores. He apparently believes homeowners have been brainwashed by corporate America into thinking there’s something morally wrong with abandoning a home. But it sure looks like the good professor is fueling the [...] Fannie Mae to tighten lending standardsStarting next month, Fannie Mae is raising minimum credit scores and limiting debt ratios for borrowers. The money graf: “The changes are the latest in a series of crackdowns by the mortgage industry and could surprise some prospective home buyers. The industry is rolling back loose lending standards that led to the mortgage meltdown and [...] FHA to raise feesThe FHA, which now controls an incredible 30 percent of the mortgage market, is looking to raise fees and possibly down payment requirements. This is big. The FHA needs cash. Its reserves are dangerously low. But it’s also a critical part of a still fragile housing market. P.S. Hedge funds are contributing to the FHA’s [...] |
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