The $500 Home Down Payment is BACK!

Wow! This was quite the week for Home Lending in California First the good news:  CalHFA (the California Housing Finance Agency) announced today that they are eliminating their requirement that borrowers need a 1% cash investment into the transaction – and the requirement that it be from the borrower’s own funds. What this means is [...]

By |2014-08-28T00:29:54-08:00March 3rd, 2012|First Time Home Buyer Assistance, Popular Topics|Comments Off on The $500 Home Down Payment is BACK!

Different Loans for Different Needs

These are just a few examples of different loan programs and - most of which are not now avaible now. This is either because there are no investors willing to buy these loans as investments, or because the have been effectively or actually outlawed by the government.

By |2014-08-28T00:29:54-08:00June 17th, 2010|What the Hell Happened?|Comments Off on Different Loans for Different Needs

Don’t Blame the Loan Program!

So now the government stepped in and is fixing he problem - not! The fact is the problem fixed itself. There are no investors out there buying stated-income 100% financed loans - and there will probably never be again! Loosing a few trillion in wealth tends to make a permanent impression.

By |2010-06-11T11:07:54-08:00June 11th, 2010|What the Hell Happened?|Comments Off on Don’t Blame the Loan Program!

The Role of the Mortgage Broker

At the end of the day all the brokers did was match-up the borrower with the loan product they wanted. During that time borrowers didn't care about the loans they got, investors didn't care if the loan file was a complete work of fiction, and rating companies just cashed the checks. Everybody got what they wanted, but nobody understood what they got.

By |2010-05-26T09:23:55-08:00May 26th, 2010|What the Hell Happened?|Comments Off on The Role of the Mortgage Broker

The role of the Investment Banker

Of course, after a while these early pioneers of the new lending order were pretty sure they had re-invented the mortgage business. And it was hard to argue with them. They were making hundreds of millions of dollars; the loans were performing and everybody was getting rich.

By |2010-05-19T09:36:12-08:00May 19th, 2010|What the Hell Happened?|Comments Off on The role of the Investment Banker
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