America's national housing policy seems, in a word, adrift: rudderless, following the whims of the prevailing political winds of the day, the ebb and flow of the ocean's tides, wherever they might take us.
Mortgage guarantor giants Fannie Mae and Freddie Mac both recently announced their intent to once again begin purchasing mortgage loans at 97 percent loan-to-value (LTV) in the case of first-time homebuyers.
"Millennial" is almost a buzzword now. Everyone wants to know what this generation is doing -- or take a shot at assuming. As Gen Y begins to age, it's natural to wonder how this generation's mindset will affect aspects of our economy, from the job force and investing to homeownership.
Are you aware that there is in fact a new improved credit score? Yes, that's right, a new kid on the credit scoring block. If actually used, this new credit scoring formula could actually end up helping those misrepresented by current credit scoring models.
Home buying is not for everyone. For all the positive aspects to home ownership, there are some very compelling reasons not to buy a home right now. So, if you're ready to jump headfirst into the 'American Dream,' read this first.
It's next to impossible to get through the home-buying experience completely unscathed. Maybe you accidentally buy a house with mold in the basement (like I did) or you snag a condo across the street from what will soon be a multi-year redevelopment project.
Released in July 2014, FHFA Brief 14-02, '"First Time Homebuyer Share and House Price Growth", arrives at a statistically supported conclusion that is at the very least predictable, if not painfully obvious.
This settlement sends a strong message that banks that prey on customers and investors will be held accountable. I will continue to investigate financial institutions that bend the rules for their own benefit, and pursue equal justice for all New York families.
Recent research about student loans and mortgages raises the question of whether having too much debt can make you sick. Survey results are particularly troubling because they suggest that it is the debt itself -- not the burden of repayment.
For 30 years, falling mortgage interest rates have enabled homeowners to move into ever-larger homes on the promise of ever-cheaper financing. But that party is over, and the impact on existing home sales could be significant.
California and Texas, as well as Arizona and New Mexico, aren't just on the geographical border of the United States and Mexico. They're also a frontier between the America that we were and the America we're rapidly becoming.
Keep in mind, Fannie Mae and Freddie Mac already purchase 97% LTV mortgages from state housing finance agencies throughout America. Why not reinstate this policy to help restore sustainable homeownership for responsible everyday borrowers while also helping to jumpstart America's economy?
Fannie Mae and Freddie Mac need to be regulated properly, they need to be required to maintain sufficient capital reserves, and they need to be operated transparently. But given the current legislation, eliminating them would be reckless and foolish.
Some in Congress and in the administration want to do away with Fannie and Freddie and hand over their portfolio to the private banking industry, but without the previous requirements that banks do a certain amount of business with low-to-moderate income individuals.