Hi Everyone, Here’s the follow up from class: Here is a link to the Credit Suisse chart showing all the recasts of the Pay Option ARMs coming our way through 2012. Remember the good news here is that 46% of all Pay Option ARMs are currently in default. This means some of those bad loans […]
To The Students from the Sept 23, 2009 Foreclosure Class
Hi Everyone, Here’s the follow up from today’s class: Here is the Credit Suisse chart showing the subprime, Alt A and prime ARM resets through 2012. Here’s the blog post from Calculated Risk where I quoted the statistics on ARMs right at the beginning of the class. We discussed the new law signed by the […]
To the Students from the Aug 25, 2009 Loan Mod Class at SKCAR Bellevue
Hi Everyone, Here’s the follow up from class: Here’s the link to the MyFico.com website. I really like this page because it provides an easy to understand explanation of ones Fico score and will help homeowners better understand how a loan mod, foreclosure, or short sale will effect their credit score. I asked a loan […]
To the Students from the Aug 7 Current Issues Class in Ketcham/Sun Valley
Hi Everyone, Here’s the follow up from the Current Issues class: Here’s the New York Times interactive map showing the percentage of subprime loans made in various states and counties. Here’s the link to the HUD website where you can search and find FHA-approved condos. Here’s the article about how to find the bottom in […]
To the Students From the Aug 6, 2009 REO Class in Ketchum/Sun Valley
Hi Everyone, Here’s the follow up from class this afternoon: Here’s the Credit Suisse chart we looked at that shows the subprime, Alt-A, and pay option ARM loans set to recast through 2012. Here’s the Obama Administration announcement regarding the new tenant eviction law . Here’s the direct link to the Idaho Dept of Finance […]
To the Students From the Aug 6, 2009 Short Sale Class in Ketchum, ID
Hi Everyone, Here’s the follow up from today’s class: Q: What is the name of the clause in the final short sale seller paperwork that describes a lender’s power to pursue the homeowner for the amount forgiven at closing? A: This has been referred to as the ‘deficiency clause’ and ‘payment in full without pursuit […]
CE Forward, doing business as NAMF now an NMLS Approved Course Provider
Many Realtor and real estate agent students know me from CE Forward, Inc., and all the continuing ed clock hour classes I teach for the real estate industry. CE Forward also runs a professional association, The National Association of Mortgage Fiduciaries which exists to help guide the mortgage lending industry into fiduciary status. NAMF also […]
To The Students from the July 20, 2009 Short Sale Class at SKCAR Bellevue
Hi Everyone, Here’s the follow up from today’s class. Here’s the story about the Federal Home Loan Bank that appeared in Sunday’s Seattle Times. Here is the link to the MyFico website that shows the various moving parts to a person’s credit score. We talked about mortgage insurance companies today. Here’s the story on MGIC. […]
To the Students from the July 16, 2009 Short Sale and Foreclosure Classes in Wenatchee
Hi Everyone, Here’s the follow up I promised from the Short Sale and Foreclosure class yesterday: Here is the interactive map from the NYTimes showing the percentage of subprime loans in various WA State counties. Wow, Douglas County is at 25%. Here’s how to find out if a loan is being held in Fannie Mae’s […]
Pay Option ARMs Will be a Continuing Problem
CR has analysis on the new data showing that pay option ARM loans are performing worse than subprim. Because of the way the loans were structured, some option ARMs may not recast until 2014, putting a continuous drag on the housing industry into the future.