The expiration of a government tax credit yesterday may slow, rather than derail, a budding rebound in U.S. home sales being fueled by the drop property values, according to real-estate executives.
“The meat and potatoes about the housing recovery and the reason to get out and buy a house now is affordability,” Jeffrey Detwiler, president and [...]
Posts Tagged ‘economy’
Housing Won’t Be Derailed by End of U.S. Tax Credit, Agents Say
May 1st, 2010 by Mortgage Writer
Tags: commerce department, economy, financial, money, mortgage market, mortgage rates, real estate, tax credit, US Economy
more...One Firm Refused to Aid a Goldman C.D.O. Plan
April 29th, 2010 by Mortgage Writer
A little-known investment firm has found itself caught up in the Securities and Exchange Commission’s fraud case against Goldman Sachs, The Wall Street Journal reported.
GSC Group, based in New Jersey, was contacted by Goldman back in January 2007 and asked to find mortgage-backed securities for an intricate synthetic collateralized debt deal that the bank was [...]
Tags: banks, CEO, economy, financial, Goldman Sachs, mortgage, Mortgage Bankers, US Economy, wall street
Arizona No. 4 for mortgage fraud
April 28th, 2010 by Mortgage Writer
Arizona now ranks fourth for mortgage fraud nationally. It’s the first time the state has cracked the top five for the problem, according to data released this week from the Mortgage Asset Research Institute.
Florida, New York and California (in that order) rank ahead of Arizona in 2009 mortgage-fraud cases. The most prevalent type of home-loan [...]
Tags: economy, homebuyers, mortgage, mortgage lenders, mortgages, real estate, US Economy
Sales of new homes rocketed up 27 percent in March
April 24th, 2010 by Mortgage Writer
Sales of newly built homes shot up 27 percent in March — the largest monthly gain in nearly five decades — as mild weather and a lucrative tax credit pumped up demand for homes in all four regions of the country, according to federal data released Friday.
The Commerce Department reported that new-home sales jumped to [...]
Tags: commerce department, economic recovery, economy, homes available for sale, mortgage, mortgage rates, US Economy
Geithner says parts of US economy “very strong”
April 22nd, 2010 by Mortgage Writer
Geithner cites “encouraging signs” on US economy. He says confident financial reform legislation will pass (Adds comments on legislation, context).
WASHINGTON, April 22 (Reuters) - U.S. Treasury Secretary Timothy Geithner says some parts of the U.S. economy are “very strong” and that the United States was rebounding from recession more quickly than most other major economies.
Geithner, [...]
Tags: business, economy, federal reserve, news, Obama, powerhouse, Treasury Department, treasurys, US Economy, wall street
How To Profit By Providing Hard Money Real Estate Loans
April 9th, 2010 by Mortgage Writer
Real estate prices are low, but the lack of available financing is preventing people from taking advantage of them. This of course presents an opportunity for investors. By providing hard money loans, investors can make a healthy profit with low risk. See the following article from REIClub for more on this.
It is a truism in [...]
Tags: economy, hard money, investors, market value, real estate
U.S. 30-year mortgage rates jump to 8-month high
April 8th, 2010 by Mortgage Writer
Rising bond yields sent U.S. 30-year mortgage rates to the highest level in eight months, home funding company Freddie Mac said on Thursday.
The 30-year loan rate average jumped to 5.21 percent in the week ended April 8 from 5.08 percent in the prior week and from 4.87 percent a year earlier.
The last time the long-term [...]
Tags: economy, federal reserve, mortgage, mortgage rates, news, US Economy
Read Goldman’s Defense on its AIG and Mortgage Market Bets
April 7th, 2010 by Mortgage Writer
In an eight-page shareholder letter released this morning, Goldman Sachs is offering its side of the controversies that have dogged the firm in 2009.
As is often the case with these letters, the best stuff is at the end. That is where CEO Lloyd Blankfein and Chief Operating Officer Gary Cohn explain the Wall Street firm’s [...]
Tags: economy, money, mortgage, mortgage market, us economic, US Economy
Greenspan Sees Economy and Job Growth Gaining Momentum
April 5th, 2010 by Mortgage Writer
Former Federal Reserve Chairman Alan Greenspan said Sunday that apart from the housing and commercial real estate markets, the economy is “showing some buoyancy,” and he expects the pace of job creation to pick up.
Greenspan said a number of factors are contributing to economic and employment momentum, including consumer spending and corporate capital investment. “The [...]
Tags: economy, economy recovered, jobs, money, news, US Economy
New Obama Mortgage Plan: A Backdoor Bank Bailout
April 1st, 2010 by Mortgage Writer
We are looking at tens of billions of taxpayer dollars again being funneled to the very banks behind the mortgage crisis.
President Obama announced an expansion and modification of his Home Affordable Modification Program (HAMP). While one can debate the merits of incentives to keep unemployed families in their homes while they search for jobs — [...]
Tags: banks, economy, mortgage, mortgage crisis, Obama, US Economy
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