Archive for April, 2011

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St Louis Home Mortgage Lending: Will House Prices Continue To Fall

Saturday, April 30th, 2011


St Louis Mortgage and Real Estate News –

St Louis Finance Loan and Mortgage Refinancing News: House Prices To Keep Falling?
St Louis Home Loan and Commercial Financing | Principal Loan Reduction | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Reduction Consultant


It seems that according to the Capital Economics, the second leg of the United States housing downturn will continue throughout the year and could be nasty if a vicious circle of falling house prices and rising foreclosures continues.

“The second downward leg in house prices that began last year will continue throughout (more…)

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St Louis Home Loan and Loan Reduction: 1 In 4 Get Loan Modification

Friday, April 29th, 2011


St Louis Mortgage and Real Estate News –

St Louis Mortgage Refinancing and Mortgage Lending News: Only 1 In 4 Get Mortgage Relief
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


As HAMP slowly moves ahead, only one in four of the 2.7 million homeowners who sought to participate in the Obama administration’s signature mortgage assistance program have succeeded in getting their monthly payments reduced.

The rest failed to qualify for the program or were disqualified after they were initially accepted into the program, according to an analysis by the Wall Street Journal of data on applicants to the program newly released by the Treasury Department.

In all, about 680,000 homeowners who applied for the Home Affordable Modification Program, or HAMP, had received permanent modifications of their loans and were making timely payments or were still in the trial phase as of December 2010 according to St Louis home loan experts.

Almost 6.7 million U.S. homes were lost to foreclosure, short sales or turned back to lenders between (more…)

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St Louis Mortgage Broker: 20 Percent Down Payments For Home Loans

Thursday, April 28th, 2011


St Louis Mortgage and Real Estate News –

St Louis Refinance, In-House Financing and Principal Loan Reduction News: Regulators Push For 20 Percent Down Payments
St Louis Home Mortgage and Commercial Loans | Customer Financing | 314-334-0210 | Floyd Tapia, Commercial Lending, Consumer Finance and Loan Modification Consultant


The Dodd-Frank financial overhaul law enacted last year enabled regulators to define a so-called gold-standard residential mortgage that would be exempt from costly new rules according to St Louis mortgage brokers.

At least three agencies including the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency have backed a proposal to require home buyers to put down at least (more…)

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Posted in st louis mortgage news | 6 Comments »

St Louis Finance and Loan: Foreclosures Up Delinquencies Down

Wednesday, April 27th, 2011


St Louis Mortgage and Real Estate News –

St Louis Mortgage Refinancing and Principal Loan Reduction News: MBA Said Foreclosures Up Delinquencies Down
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


The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 8.22 percent of all loans outstanding at the end of the fourth quarter of 2010.

This was a decrease of 91 basis points from the third quarter of 2010, and a decrease of 125 basis points from one year ago, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.

The non-seasonally adjusted delinquency rate decreased 46 basis points to 8.93 percent this quarter from 9.39 percent last quarter as seen by St Louis finance and loan experts.

The percentage of loans on which foreclosure actions were started during the fourth quarter was (more…)

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St Louis Lending: ARMs Are Back

Tuesday, April 26th, 2011


St Louis Mortgage and Real Estate News –

St Louis Finance and Mortgage Refinancing News: Adjustable Rate Mortgages Are Back
St Louis Home Mortgage and Commercial Loans | Principal Loan Reduction | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Modification Advocate

After accounting for nearly 70 percent of all mortgages issued during the boom, adjustable rate mortgages (ARMs) vanished during the bust, totaling just 3 percent of the market in 2009.

Now they make up 5 percent of all mortgages issued, and Freddie Mac predicts 10 percent by December according to St Louis lending experts.

Behind the comeback is a simple fact: (more…)

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St Louis Home Mortgage: US Postal Service Feeling The Crunch

Monday, April 25th, 2011


St Louis Mortgage and Real Estate News –

St Louis Finance and Refinancing Loan News: US Postal Service In Financial Trouble
St Louis Mortgage Broker and Commercial Loans | Principal Loan Reduction | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate


The U.S. Postal Service (USPS), a self-supporting government agency that receives no tax dollars, said it suffered a loss of $329 million in the first quarter of federal fiscal year 2011. That was compared with a loss of $297 million a year earlier.

The agency has been suffering from an ongoing decline in mail volume, which has undercut revenues, while (more…)

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St Louis Mortgage Lending: Mixed Reviews On Revised Housing Plan

Sunday, April 24th, 2011


St Louis Mortgage and Real Estate News –

St Louis Finance and Loan News: Reaction To Housing Plan By Obama Administration Mixed
St Louis Home Mortgage and Commercial Loans | Principal Loan Reduction | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate


The Obama administration’s reform plan for the government-sponsored enterprises, Fannie Mae and Freddie Mac, has drawn some praise and some criticism from the mortgage financial market as well as some ho-hums according to the St Louis mortgage lending community.

Among the concepts:  “We are gratified to see that one of the concepts they articulate closely tracks MBA’s proposal, released 18 months ago, that visualizes a workable, commonsense (more…)

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Posted in st louis mortgage news | 37 Comments »

St Louis Home Loan: Fannie and Freddie Out

Saturday, April 23rd, 2011


St Louis Mortgage and Real Estate News –

St Louis Finance and Loan News: Fannie and Freddie Recommended To Be Phased Out
St Louis Home Mortgage and Commercial Loans | Principal Loan Reduction Program | 877-334-0210 or 314-334-0210 | Floyd Tapia, Commercial Lending and Loan Compliance Advocate


There are new reports coming from the White House stating that the Obama administration has issued a White Paper strongly recommending the gradual elimination of government-sponsored mortgage backers Fannie Mae and Freddie Mac according to St Louis mortgage brokers.

It has included three different options for reducing the role the U.S. government plays in the (more…)

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Posted in st louis mortgage news | 25 Comments »

St Louis Commercial Mortgage: Mortgage Industry Recovery A Year Away

Friday, April 22nd, 2011


St Louis Mortgage and Real Estate News –

St Louis Finance and Principal Loan Reduction News: Housing Recovery May Be A Year Away?
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


According to Bank of America Merrill Lynch (BOAML) strategists, the hoped for recovery for home prices appears to be still more than a year away and most St Louis mortgage brokers agree.

“Currently, our view is toward the (more…)

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Posted in st louis mortgage news | 3 Comments »

St Louis Refinancing: Shadow Inventory Pushes Foreclosures

Thursday, April 21st, 2011


St Louis Mortgage and Real Estate News –

St Louis Finance and Mortgage Broker News: Shadow Inventory Will Push Foreclosures
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


Two reports from separate credit rating agencies are drawing the same conclusion and that is foreclosures will reach new heights in 2011, even after setting records in 2010 according to St Louis finance experts.

“DBRS expects foreclosure filings and completed foreclosures to reach record levels in 2011 as alternatives such as modifications for seriously delinquent borrowers (more…)

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