Tag Archives: mortgage market

Presidential Order Opens Door to Mortgage Relief for Hurricane Victims

The past weeks have been treacherous on the campaign trail, and in the New England after Hurricane Sandy struck devastating the area and millions of American citizens. This prompted Obama to stop his campaign efforts, and order real help to victims of the natural disaster that has crippled the North Eastern United States.

The presidential order declared 15 New York and New Jersey counties a disaster area, and there is as well a moratorium on any foreclosure proceedings. This comes as a relief to some home owners that have already been hard hit by the crisis, and now Hurricane Sandy. Continue reading

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Private Capital

Private capital played a big role in the housing market until the housing crisis of 2008 when the supply of private capital to the housing market dried up. About the only private capital buying loans today is operating in the secondary market, and there are not many private capital firms in that market at all. However, several investment opportunities exist for private money in the mortgage market in the form of mortgage Real Estate Investment Trusts (REITs). The REITs are
Growing and becoming more important in the mortgage markets. Some of these REITs are buying distressed mortgages and mortgage servicing businesses. Private capital is finding these to be attractive attractive investments.

However, currently private investors’ attraction to residential mortgage-backed securities (RMBS) is almost non-existent. “There have been only a handful of RMBS issues since the market’s collapse in 2008. In 2011, there were $22.2 billion of private label RMBS issued, down 96.9% from the 2006 peak of $723.3 billion,” according to a recent issue of The Economist. Continue reading

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Many Texas homeowners will benefit from the federal-state settlement funds in order to save their homes from foreclosure or give them some relief due to a foreclosure. Homeowners who owe more on their mortgages then the house is worth will be able to get some relief on their mortgage financing. Up to a million people could benefit from the settlement packages.

Distressed homeowners are receiving this settlement offer because it was found that the banks and lending services had signed foreclosure papers without reading the papers. It was also found that no notary had signed off on the paperwork which is required in foreclosures.

Banks will have a new set of guidelines that they must follow in order to prevent the poor practices of the past years from affecting the mortgage market of today. Texas homeowners who were foreclosed on between 2008 through 2011 should apply for the settlement relief. Continue reading

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Veterans have been refinancing their home loan in 2011 at a greater rate than in the past. This is primarily due to changes in the law relating to limits on mortgage values that will be coming at the first of … Continue reading

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