A report published by Lender Processing Services (LPS) analyzing homeowner’s performance on their mortgages as of June 2010 shows some encouraging news; there are signs that the foreclosure and mortgage delinquency rates are stabilizing, albeit at very elevated levels.

Highlights from the report..

Continue reading... Foreclosure and Mortgage Delinquency Rates Stabilizing

1. Delinquent Home Mortgages 21.3 Percent Higher Than Last Year; Foreclosure Rates at Record High Dennis Norman A report published by Lender Processing Services (LPS)...
2. US Foreclosure Rate and Mortgage Delinquency Rate Continues to Rise Dennis Norman A report released by First American CoreLogic shows...
3. Mortgage Delinquencies Increase In May; 1 in 8 Borrowers At Risk of Losing Home Dennis Norman Homeowners’ mortgage delinquency rates increased in May 2.3...

With mortgage rates near an all-time low one might expect a lot more people taking advantage and buying a home. However, even low interest rates have not been enough to fire up home-buyers although, for the second consecutive week, there has been a little increase in activity.

According to the Mortgage

Continue reading...

1. Interest Rates Increase Slightly; Home Loan Applications Rise Again This Week Dennis Norman The Mortgage Bankers Association (MBA) released its weekly...
2. Interest Rates On Home Loans Drop Slightly – Home Purchase Loan Activity Up 24 Percent From Last Month Dennis Norman The Mortgage Bankers Association (MBA) released its weekly...
3. Home Mortgage Purchase Applications Increase; First Time in Six Weeks Dennis Norman After five consecutive weeks of decreases, the Mortgage...

These rules could derail some closings for buyers who rack up purchases or even take out new store credit cards before their home sales have closed.

Part of the LQI requires

Continue reading... Fannie Mae Tightens Underwriting Standards

1. FHA Tightens Standards Dennis Norman FHA Announces Policy Changes to Address Risk and...
2. Fannie Mae Cracking Down on ‘Strategic Defaults’ Dennis Norman Last month I wrote about a new policy...
3. Fannie Mae Issues Guidelines For HAFA Short-Sales and Deed-in-Lieu UPDATE- June 2, 2010: The National Association of REALTORS obtained...

Last week I said that in my real estate career I’ve not seen a time that lower interest rates didn’t spur some sort of activity in the market.  Finally, it happened, at least a little.   According to the Mortgage Bankers Association (MBA) weekly mortgage applications survey for the week ending July

Continue reading... Record-Low Interest Rates Spur Refinancing; Home Purchase Mortgage Applications Increase Slightly

1. Home Purchase Mortgage Applications Last Week Plummet; Interest Rates Decrease Slightly Dennis Norman The Mortgage Bankers Association (MBA) released its weekly...
2. Interest Rates Increase Slightly; Home Loan Applications Rise Again This Week Dennis Norman The Mortgage Bankers Association (MBA) released its weekly...
3. Mortgage interest rates drop slightly-Mortgage applications increase Home-buyers mortgage activity increases from week before…down from a month...

Worst Street In America for Mortgage Fraud is In Orlando (actually they have 5 of the top 10 streets)

According to the 2010 Mortgage Fraud Trends Report released by CoreLogic this week, fraud risk in the mortgage industry has declined by 25 percent since it peaked in the third quarter of 2007.  Even though

Continue reading... Mortgage Fraud Trend Down; Still $14 Billion in 2009 Losses

1. Mortgage Fraud Continues to Climb Incidents of Mortgage Fraud Increase 7 Percent from 2008 to...
2. Mortgage Fraud Sweep Results in Almost 500 Arrests Dennis Norman According to a press release issued by the...
3. Mortgage Fraud Surge Investigation Nets More Than 100 Individuals Throughout Middle District of Florida Department of Justice Press Release TAMPA—United States Attorney A. Brian...

I’ve been in the real estate business for over 30 years now and hate to admit that I’m witnessing something now I’ve never seen before.  Throughout my career I’ve seen the real estate market struggle at times usually at the hands of a recession, stagflation, high interest rates, high unemployment or some other

Continue reading... Cheap Mortgage Interest Rates Not Bringing Out Home-buyers

1. Mortgage Loan Rates Remain Low – Fewer Home Buyers Taking Advantage Home Loan Applications Drop 4.0 Percent Last Week. Dennis Norman...
2. Mortgage Interest Rates Recede as Do Home Loan Applications Dennis Norman Home Loan Application Activity Index at 3rd Lowest...
3. Home Purchase Mortgage Applications Last Week Plummet; Interest Rates Decrease Slightly Dennis Norman The Mortgage Bankers Association (MBA) released its weekly...

Last month I wrote about a new policy implemented by Fannie Mae that would “lock-out” borrowers from getting a Fannie-Mae insured loan for 7 years if they did a “strategic default” or otherwise did not act in good faith and were foreclosed upon. In a nut shell, the borrower that Fannie Mae

Continue reading... Fannie Mae Cracking Down on ‘Strategic Defaults’

1. Fannie Mae’s New Rule Punishes Borrowers That ‘Walk-Away’ Dennis Norman So, you have the money to pay on...
2. Fannie Mae Issues Guidelines For HAFA Short-Sales and Deed-in-Lieu UPDATE- June 2, 2010: The National Association of REALTORS obtained...
3. Fannie Mae offering buyers incentives on HomePath Properties Dennis Norman Fannie Mae is offering 3.5 percent in closing...

While near historic-low mortgage interest rates are causing homeowners to refinance their existing mortgages, it does not appear the rates are bringing out the home-buyers.  According to the Mortgage Bankers Association (MBA) weekly mortgage applications survey for the week ending July 2, 2010, the MBA Purchase Index (a measure of the

Continue reading... Home Mortgage Purchase Applications Decrease; Rates Near Historic Lows

1. Home Purchase Mortgage Applications Last Week Plummet; Interest Rates Decrease Slightly Dennis Norman The Mortgage Bankers Association (MBA) released its weekly...
2. Home Mortgage Purchase Applications Increase; First Time in Six Weeks Dennis Norman After five consecutive weeks of decreases, the Mortgage...
3. Home Purchase Mortgage Applications Continue to Decline Dennis Norman Mortgage Applications Continue to Indicate Home Sales Are...

While there has been much discussion about the causes and effects of the Housing Boom as well as the Bust (including by yours truly in prior posts) I don’t think we need to refrain from continuing to examine this part of history that is affecting millions of people across the country.  Perhaps we

Continue reading... More On The Housing Boom and Bust; Cause and Effect

1. Is The Government Going to Push Us Into Another Housing Bust? Dennis Norman UPDATE June 21, 2010- I said I would...
2. Fewer Homeowners Falling Delinquent; More Delinquent Borrowers Bringing Payments Current Dennis Norman A report published by Lender Processing Services (LPS)...
3. Home prices down 30 percent since peak in 2005 and trend is downward Dennis Norman By: Dennis Norman I came across an...

So, you have the money to pay on your ‘underwater’ mortgage, or to afford the reduced payment amount offered to you under the HAMP program, but think, rather than throw good money after bad you’ll just do like so many borrowers are doing and ‘walk-away‘? Well, if you have any plans to

Continue reading... Fannie Mae’s New Rule Punishes Borrowers That ‘Walk-Away’

1. Fannie Mae Issues Guidelines For HAFA Short-Sales and Deed-in-Lieu UPDATE- June 2, 2010: The National Association of REALTORS obtained...
2. Can your buyers obtain a mortgage if they have done a short sale or deed-in-lieu? Dennis Norman No doubt over the next couple of years...
3. Owner occupants get first shot at Fannie Mae foreclosures under ‘First Look’ initiative Dennis Norman Fannie Mae just announced their new “First...