Hi Everyone,
Here’s the follow up from class today.
Here’s the graph showing that 96.5 percent of all loans are being backed by the government. Thanks again to CR who allows me to use his graphs in the classroom. Please use this to educate your sellers. Help them understand that underwriting guidelines need to tighten further in order to attract investors to buy residential mortgage backed securities (RMBS) again.
Here is a nice graph showing agency REO inventory and the follow up from Tom Lawler adding private label RMBS REO inventory….and here’s CR’s Graph Gallery. The menu runs left to right across the top of the page, just under CR’s logo. Gene had a good question about finding the bottom and what does that really mean….CR wrote a great blog post on this topic here.
I promised a link to local statistics. If you’re not reading Seattle Bubble, this is the ONLY place I know of that’s offering tri-county stats like this.
Here’s one of many stories featuring Jim the Realtor, an REO agent out of Calif who videotapes the REOs he lists.
Thanks so much to our sponsor, Susan Romei from Sterling Savings: “Old FHA Loan limits loans must close by Sept 30th. Oct 1st…. New high loan limit for FHA: 506,000.”
Here’s the direct link to the list of WA State Chartered Banks
and here’s the most recent unofficial problem bank list.