Archive for March, 2011

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St Louis Loan Audit: Foreclosure Bans Lifted

Thursday, March 10th, 2011


St Louis Mortgage and Real Estate News –

St Louis Finance and Loan Reduction News: Freddie Mac and Fannie Mae Lift Foreclosure Ban But Is It Permanent
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate


Freddie Mac and Fannie Mae have lifted the ban on the sale of foreclosed homes which was frozen since the document handling fiasco that started nearly two months ago according to loan reduction experts.

Freddie Mac sent a memo to agents instructing them to “resume all normal sales activity” while Fannie Mae issued a memo telling agents to “proceed with scheduling (more…)

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Posted in st louis mortgage news | 76 Comments »

St Louis Commercial Lending: Commercial Delinquencies Mixed

Tuesday, March 8th, 2011


St Louis Mortgage and Real Estate News –

St. Louis Commercial Mortgage and Loan Reduction News: MBA Reports Commercial and Multifamily Delinquencies Mixed
Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia


Delinquency rates for different commercial/multifamily mortgage investor groups were mixed in the third quarter, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report.

The commercial delinquency rate for loans held in CMBS is the highest since the series began in 1997.

Delinquency rates for other groups (more…)

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St Louis Mortgage: Weak Recovery For Years

Sunday, March 6th, 2011


St Louis Mortgage and Real Estate News –

St Louis Loan and Finance News: Federal Reserve Predicts Weak Recovery For Years
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia, St Louis Loan Modification


According to minutes from the Federal Reserve’s November 2010 meeting, more than half of the central bank’s policymakers thought it would take about five or six years for unemployment, growth and inflation to return to more normal levels.

Other Fed members warned the full economic recovery could take even longer than that.  The much weaker forecast is the major reason that policymakers (more…)

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Posted in st louis mortgage news | 2 Comments »

St Louis Home Mortgage: Foreclosure Mess Scares Home Buyers

Saturday, March 5th, 2011


St Louis Mortgage and Real Estate News –

St Louis Loan Audit and Finance News: Foreclosure Fiasco Scares Off Potential Home Buyers
Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia


The ongoing controversy surrounding foreclosures is taking its toll as home buyers refused to look at distressed properties in October, and foreclosure sales suffered from delays, according to the latest Campbell/Inside Mortgage Finance Monthly Survey.

Both the share of home purchases involving distressed properties and average prices for foreclosed (more…)

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Loan Reduction St Louis: Foreclosure Starts Rise

Wednesday, March 2nd, 2011

St Louis Mortgage and Real Estate News –

St Louis Loan Audit and Finance News: MBA Says Foreclosures Down While Foreclosure Starts Rise
Home Mortgage and Commercial Loans | Principal Reduction | 877-334-0210 or 314-334-0210 | Floyd Tapia


According to the Mortgage Bankers Association’s (MBA) National Delinquency Survey (Foreclosures), the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 9.13 percent of all loans outstanding as of the end of the third quarter of 2010.

This was a decrease of 72 basis points from the second quarter of 2010, and a decrease of 51 basis points from one year ago according to loan reduction experts.

The non-seasonally adjusted delinquency rate decreased one basis point to 9.39 percent this quarter from (more…)

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Principal Reduction Program: Is HAMP Dead

Tuesday, March 1st, 2011

St Louis Mortgage and Real Estate News –

St Louis Refinancing and Loan Reduction News: HAMP May Finally Be Finished According To Housing Regulators
St Louis Home Mortgage and Commercial Loans | Principal Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia


“It’s safe to say that HAMP isn’t meeting its goal of preventing foreclosures,” Representative Maxine Waters  said at a House Financial Services subcommittee hearing after the Treasury provided a preview of a report by the U.S. Treasury Department.

According to the report, homeowners are dropping out of the Obama administration’s foreclosure (more…)

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Posted in st louis mortgage news | 82 Comments »

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