Troubling Trends in Home Sales, Realtors Want Relaxed Regs; Rating... - Mortgage News Daily

Is it illegal for a bank to sell a loan to another entity without. To calculate my next months interest amount, do I multiply the. Those potential buyers representthe difference between an uneven recovery and a much more robust housing marketthat could stimulate additional economic activity and create jobs. Economistsbelieve that this large imbalance between demand and supply likely will keepdownward pressure on home prices and housing construction. Cancellationshave increased, as suggested by the widening gap between closed (existing) andsigned (pending) contracts. Per NAR, 16% of contracts failed because ofmortgage application rejections, 9% due to low appraisals. The majority of distressed properties are purchasedwithout financing, usually by investors. If investor demand is drying up it meansprices would have to fall further to clear the excess supply. In addition, RE/MAX also said many lenders are already using thelower loan limits for government guaranteed or insured mortgages set to takeeffect in October. There is some momentumpicking up with regard to examining the rating agencies' role in themortgage meltdown - and many say "it is about time. Weall know that at some point that will change and lenders will all have to dustoff their ARM margin notes and remember things like LIBOR, created in the1980's. The London Interbank Offered Rate is a key adjustable rate mortgageindex, but also helps price trillions of dollars of derivatives andcorporate loans. Calculated daily, Libor (not all in caps) is supposed tomeasure borrowing costs for a panel of banks globally. The rate"floats," or ebbs and flows depending on how much banks charge oneanother. At the height of the financial crisis in 2008, Libor was one of themost-watched indicators, as nervous investors looked at its sharp rise as asign of waning confidence in the stability of the global financial system. Libor rates are very low, and have failed to reflectturmoil in the bank markets amid the European debt crisis. Just think ofall those resetting ARM loans (although the impact depends on margins). And depositors areparking their money in banks - who needs to borrow outside aside from bankswith end-of-month funding needs. Retail deposits are desirable because they arestable. Frank Fiore with Matchbox LLCwrites, "The joy of a bolstered pipeline faded with the prospect of notbeing able to close it as operation inefficiencies suddenly came to theforefront. Please ensure the following documentsare included in your submission package for disclosures: 1. Initial GFE, provided to borrowers w/in 3 daysof application, 3. Out in Northern California, a rep for Interbank sent out apreemptive e-mail to his region. Iknow a lot of you have locked a great many loans since last Monday and thefirst of the month. AtInterBank we require a Pull Through on Locks and Underwriting approvals to stayabove 75% and they have zero tolerance on this policy. Please remember if yourfile is not submitted in the first 10 days from your lock date, it will becancelled, and you will not be allowed to relock until we have received acomplete file submission and you will be subject to worse case pricing. This commentary usually quotes the yieldon the 10-yr in comparison to where it was the previous day, as a rough rule ofthumb. Asone trader put it, "equities are finally getting the joke that bonds havebeen telling for a while now. You can see a list of all comments on MND by clicking the 'Read the Latest Comments' option under the 'Community' menu. But the reality is this, appraisal deals killing Real Estate deals is something that puzzles me. We have over 128,000,000 existing homes in the US of which 74% were build before 1990, does not most americans think our existing housing market needs a FACE LIFT. We have the FHA 203k and we need more privatization in offering products on a wider range to consumers who want to move into a home not a house and then the Realtors can start selling HOMES not HOUSES. The housing boom created a rich climate for mortgage fraud and while the bust that followed the boom has changed the nature of the crime, it has provided. Uncertainty and apprehension appear to be influencing the economy as much as reality according to the latest National Housing Survey (NHS) conducted by. First of all, it's hard to miss the fact that 10yr notes dipped below 2% today . Does it seem more crowded around here than ten years ago. Maybe not in Detroit, or in Kansas, but around the world, the population is expected to hit seven. We're in the middle of baseball season, and here's a non-mortgage video that has people saying, "No way": BatterUp. Though many lenders have greatly improved their consumer rate. Mortgage rates were perhaps slightly better last Wednesday, but either day. Our innovative social media platform combines industry leading content and data with an active community of industry professionals, to accomplish our primary goal - keeping our readers informed. Bookmark - Bookmark our rates page and visit daily for updates. Realtors