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Crisis Programs

Can Traditional Buyers Save the Recovery?

tippin

  The recovery is at a tipping point because traditional buyers are not making up for the decline in sales to investors, who cannot find enough houses to buy profitably.  Cash buyers competing for distressed and low-tier inventory who helped to jump start the overall recovery now are fading from the market.  They have fallen to just 16.8% of all sales, suggesting ... Read More »

First-time Buyers to Pay for FHA’s Financial Crisis

Facing a financial crisis, FHA is asking first-time buyers to pay for the sins of borrowers who came before them. Increases in FHA mortgage insurance premiums and new, tougher underwriting standards that take effect April 1 will cost new borrowers significantly more than refinancing borrowers who have had an FHA loan four years or longer. Read More »

Obama Considering HARP for Non-Agency Borrowers

President Obama is considering announcing a major expansion of the HARP 2.1 refinancing program in his upcoming State of the Union speech that would make it possible for underwater borrowers whose loans are not held by Fannie Mae or Freddie Mac to refinance at today's low rates. Read More »